Market Trends of Global Shortwave Infrared Industry
This section covers the major market trends shaping the Shortwave Infrared Market according to our research experts:
The Military and Defense Sector is Expected to Drive the Market Growth
- Infrared imaging is employed in defense applications to facilitate high-resolution vision and identification in near and total darkness. The infrared (IR) wavelengths are crucial for military and defense research and development because so much surveillance and targeting occur in darkness.
- The SWIR region bridges the void between visible wavelengths and peak thermal sensitivity of infrared, scattering less than visible wavelengths and detecting low-level reflected light at longer distances, which is ideal for imaging through smoke and fog. Moreover, SWIR cameras are helpful security and surveillance devices, sometimes by themselves and often combined with other imagers.
- Applications for these SWIR devices include facility, port, border security and surveillance, and other covert operations such as low-light-level imaging, military driver vision enhancement, and military IR laser spotting and tracking.
- For instance, FLIR Systems makes InGaAsSWIR cameras based on its focal-plane array (FPA), which the company also sells separately. These FPAs have a capacitive trans-impedance amplifier circuit design optimized for applications ranging from security imaging to high-speed scientific laser testing, which requires multiple outputs and dynamic windowing.
- Government spending on military and defense equipment may be one of the significant factors for the market's growth. For instance, according to the US Department of Defense, compared to the FY 2020 authorized amount of USD 704.6B, the President's budget request of USD 705.4B represents a minor gain in 2021. Further, according to the United Kingdom parliament, the defense spending in 2020/21 was GBP 42.4 billion in cash terms, a nominal rise of GBP 2.5 billion over the previous year. The yearly defense budget in 2024/25 is estimated to be GBP 6.2 billion more in cash terms than in 2020/21.
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North America is Expected to Hold Significant Market Share
- Owing to the presence of the United States and Canada, amongst the prominent automotive markets across the globe, the North American region is expected to hold a significant share of the SWIR market.
- The United States also has the biggest defense budget in the world, making it a significant market for SWIR cameras and technology. For fiscal 2019, a new provision to the National Defense Authorization Act prohibits US federal agencies from purchasing security equipment made in China. They especially mentioned Chinese firms like Hangzhou Hikvision Digital Technology Co. and Zhejiang Dahua Technology Co. Other national vendors now have a great chance to fill the market void.
- Further, with the advent of several disruptive technologies, the application areas of SWIR cameras have increased in several sectors, thereby acting as a growth opportunity for the providers of SWIR cameras in the region.
- The capability of SWIR cameras to differentiate between colors and analyze properties like temperature, water vapor, and chemical composition of materials makes them suitable for applications like industrial inspection, art inspection, spectroscopy, and astronomy.
- Thus, the companies in the region are striving to launch innovative products to cater to the evolving needs of their customers. For instance, in April 2022, TriEye, a producer of the first mass-market Short-Wave Infrared (SWIR) sensing technology, announced a collaboration with Toshiba Teli, a global player in providing integrated cameras for automation. The two companies are working to commercialize a SWIR camera for industrial-related processes and applications. The partnership will leverage TriEye'sSWIR sensing technology to provide vision systems with an additional layer of information, reshaping the industrial sector and enhancing process capabilities.
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