The Thermal Imaging market is projected to grow at a CAGR of 6.20% to reach US$4.776 billion by 2023, from US$3.329 billion in 2017. The rising demand for thermal cameras in the military and automotive sector is expected to drive the thermal imaging market over the coming years.

The growing popularity of Unmanned Aerial  Vehicles equipped with highly advanced video cameras in military & civilian operations is being witnessed as the technology aids the aircraft to fly in the darkness and also helps in detecting the target through clouds and smoke.

Moreover, the reduction in the average selling price of these cameras and the integration of camera modules with smartphones are anticipated to drive the thermal imaging market industry growth.