What is the global market size of Shortwave Infrared Market?

Global Shortwave Infrared Market size was valued at USD 167 billion in 2021 and is poised to grow from USD 181.53 billion in 2022 to USD 353.82 million by 2030, growing at a CAGR of 8.7% in the forecast period (2023-2030).

Shortwave Infrared Market Size, Share, Growth Analysis, By Wavelength Range(Short Wavelength Infrared (SWIR): 1.4 - 1.8 micrometers, Mid-Wavelength Infrared (MWIR): 1.8 - 3 micrometers), By Applications(Defense and Security, Industrial Manufacturing, Imaging of biological tissue, and Agriculture), By Components(SWIR Cameras, SWIR Sensors, and SWIR Modules), By Region - Industry Forecast 2024-2031

Report ID: SQMIG45H2062 | Region: Global | Published Date: April, 2024
Pages: 197 | Tables: 90 | Figures: 76

Shortwave Infrared Market Regional Insights

The shortwave infrared market in North America has been dominating since there are leading technology companies, defence sectors and emphasis placed on R&D. Several of these leading technology corporations and related R&D institutions are based within this region, which fuels innovation in SWIR technology development. The incorporation of SWIR into military application is influenced by strong defence and security budgets.

As there are more industries that use technology in this fastest growing region of Asia Pacific. There has been an increase in defense budgets for some countries within Asia Pacific thus creating a market for SWIR applied in defense as well as security. The area, especially the nations such as China and Japan, has shown increased production hence requiring more SWIR in the manufacturing industries.

Shortwave Infrared Market Report Snapshots

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Shortwave Infrared Market size was valued at USD 181.53 billion in 2022 and is poised to grow from USD 197.32 billion in 2023 to USD 384.60 million by 2031, growing at a CAGR of 8.7% in the forecast period (2024-2031).

It has a very dynamic competitive environment involving both the existing players in this sector and startup organizations, which make it have a dynamic and evolving industrial market setting. The existing entities mostly develop advanced SWIR technologies with their high research and development potential to keep ahead. At the same time, the emergence of startup ventures and smaller players targeting specific applications or technology enhancements is evident in the market. 'FLIR Systems, Inc. (US)', 'Raytheon Technologies (US)', 'Leonardo DRS (US)', 'Safran Electronics & Defense (France)', 'Thales Group (France)', 'L3 Harris Technologies (US)', 'Hanwha Systems (South Korea)', 'Elbit Systems (Israel)', 'Jenoptik AG (Germany)', 'Teledyne Technologies Incorporated (US)', 'AMETEK, Inc. (US)', 'IRISS Ltd. (UK)', 'Lynred (France)', 'X2000, Inc. (US)', 'Guide Infrared (UK)', 'Vumsa (South Africa)', 'First Light Imaging (Australia)', 'Photonics Systems Group (UK)', 'Cedip Infrared (France)', 'Indigo Optics (France)'

One of the major drivers involves the escalating demand for cutting edge imaging technology in defence and security. This makes SWIR an important technology for night vision, surveillance, and target detection in defence industries across the globe. Another factor leading to increased demand includes the increasing application of SWIR in industrial production particularly for the purpose of quality control or inspection processes. Improved manufacturing processes across different industries like semiconductor manufacturing and electronics due to its capability to detect faults and offer high resolution images.

Rising Demand for SWIR Technology in (UAVs): The escalating demand for SWIR era in unmanned aerial motors (UAVs) and autonomous systems. The integration of SWIR sensors in these programs enhances capabilities consisting of surveillance, target recognition, and navigation, contributing to the proliferation of superior self sufficient technology. Additionally, there may be a discernible surge in the adoption of SWIR imaging for agricultural functions, because it proves instrumental in monitoring crop health, optimizing irrigation, and facilitating precision agriculture.

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Shortwave Infrared Market Regional Insights

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