Market Size of Europe Thermal Imaging Systems Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2019 - 2022 |
| CAGR | 12.34 % |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Europe Thermal Imaging Systems Market Analysis
Europe's thermal imaging systems market is projected to record a CAGR of 12.34% during the forecast period. The market is expected to grow steadily due to increased thermal camera usage across various industries, including aerospace and defense, automotive, healthcare and life sciences, oil and gas, and food and beverages.
- Europe is one of the most technologically advanced regions in the world. Its major military spenders are France, the United Kingdom, and Italy.
- Many nations in this region were members of the NATO forces that fought in Afghanistan and Iraq. Thermal imaging and other technological breakthroughs were widely employed and are still used in challenging terrains like Afghanistan.
- Due to technological improvements, companies have also downsized IR and thermal imaging sensors, making them very efficient and enhancing their simplicity of use. Handheld infrared and thermal imaging systems are gaining popularity due to their mobility. They are finding uses in various industries, including hospitals, where they may save maintenance times and heating costs.
- Increased demand for IR cameras is driven by the expanding need for surveillance across many verticals, constantly declining thermal camera costs, and the rapid development of high-speed infrared cameras.
- Inaccurate measurements and picture color difficulties linked with the cameras are posing a challenge to industry expansion. Military and defense and automobiles are two businesses that significantly rely on IR cameras.
