Market Trends of LA Thermal Imaging Systems Industry
This section covers the major market trends shaping the Latin America Thermal Imaging Systems Market according to our research experts:
Automotive in Applications to Drive the Market's Growth
- The demand for advanced vehicles, which are driverless and autonomous, has expanded the need for thermal imaging techniques that help deliver a premium experience to the consumer. Multiple sensors are used to detect and utilize the vehicle's system. Thermal cameras are operated along with proximity sensors that help the entire vehicle's function.
- In addition, in November last year, the AI and Robotics Laboratory of the University of San Andrés set the goal of obtaining authorization for the first driverless vehicle that circulates on Argentine roads. The first tests were carried out on the Punta Chica campus, and the university invested USD 250,000 in R&D.
- Thermal imaging cameras are used in the automobile industry to allow drivers to see in harsh lighting and weather situations to avoid accidents and assure safety. Automotive manufacturers and thermal imaging solution suppliers are working together to develop innovative thermal solutions for the automotive industry. According to INEGI, last year, the total production of passenger vehicles in Mexico was recorded at 3,480 (in thousands) from the previous year, which was registered at 2,979.
- The automobile industry is gaining traction with high-tech autonomous cars, also known as advanced driver-assistance systems. Multiple sensors, including thermal cameras, radio detection and ranging, light detection and ranging sensors, and proximity sensors, substitute drivers in these cars to enable automated driving, navigation, and better situational awareness. Increasing demand for these cars may further drive the market's growth.
- For instance, in January last year, Owl Autonomous Imaging announced Evaluation Kit for its Thermal Ranger ADAS & Autonomous Navigation Development Platform at CES 2023. This hardware and software kit enables Tier-1 and OEM automotive companies to easily evaluate Owl AI's Thermal Ranger imaging solution for use in their PAEB and other ADAS functions supporting L2, L2+, and L3/L4 essentials. The company's thermal camera solution enables 2D and 3D perception for object classification, 3D segmentation of objects, RGB-to-thermal fusion, and highly precise distance measurements.
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Brazil to Experience Significant Market Share
- The country has significant growth of thermal imaging systems due to increasing spending on military and defense, oil and gas, automotive, and many other sectors. In addition, according to Global Firepower, Brazil had the highest defense budget in Latin America as of the previous year, totaling approximately USD 18.79 billion.
- The military and defense industries in the country are among the first to use infrared and thermal imaging devices. With the defense sector's increased investment in surveillance, the use of infrared and thermal imaging equipment is projected to grow. For instance, in March last year, the Brazilian Army started receiving the Nauru 1000C unmanned aerial vehicles (UAVs), ordered for intelligence, surveillance, target acquisition, and reconnaissance (ISTAR) missions. The Nauru 1000C is a fixed-wing vertical take-off and landing (VTOL) drone capable of operating in all-weather daylight and night-capable multi-missions. Such contracts are expected to propel the growth prospects of the segment during the forecast period.
- Governments across Latin America are investing in next-generation technology by giving better and more accurate information to military troops. The use of IR thermography equipment in the military industry has grown, influencing the rise of infrared cameras, particularly short-wavelength IR cameras, which may further drive the market's growth.
- The region also has a significant trend of increasing crime and violence. As a result, the homeland security forces' budgets have increased to purchase advanced protection systems and devices. Modern combat has grown increasingly asymmetric with numerous non-lethal and deadly weapons. For instance, in August last year, the US Defence Security Cooperation Agency (DSCA) notified Congress of a foreign military sale (FMS) of Javelin missiles and associated equipment to Brazil. As a part of the sale, the Brazilian government requested purchasing up to 33 Javelin command launch units (CLU) and 222 FGM-148 Javelin anti-tank missiles. The value of the contract was nearly USD 74 million. Thus, growing procurement of advanced weapon systems and C4ISR systems for enhancing military capabilities drive the market's growth across the country.
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