The SWIR market has experienced strong growth, with its size increasing from $2.19 billion in 2023 to $2.38 billion in 2024, reflecting a compound annual growth rate (CAGR) of 8.5%. This growth is attributed to rising investments in the military and defense sector, increased adoption of SWIR technology for semiconductor inspection, the expanding use of SWIR technology in industries such as surveillance, agriculture, and medical imaging, growing penetration in the commercial, industrial, and automotive sectors, and increasing demand for SWIR cameras in the food and beverage industries. The market is projected to grow further, reaching $3.30 billion by 2028 with a CAGR of 8.6%. This anticipated growth is driven by the increasing adoption of SWIR cameras in the oil and gas, glass, and medical industries, greater use of SWIR cameras for craft inspection, spectrometry, and astronomy, rising need for SWIR cameras in ergonomics and psychology research, expanding applications in vehicle navigation under adverse conditions such as fog, snow, or dust, and growing adoption by governments. Key trends expected in the forecast period include the integration of SWIR technology into night vision systems, ongoing research and development initiatives, adoption in process industries, use for driver vision augmentation, and advancements in image sensors.
Global SWIR Market Key Driver
The increasing military and defense investments are anticipated to drive the growth of the SWIR market. This market is fueled by the broader military and defense sector, which involves the development and supply of military equipment and technologies for national security. The rising investments in this sector are driven by geopolitical tensions, technological advancements, and the need for enhanced defense capabilities. In April 2023, the Stockholm International Peace Research Institute reported that global military spending reached an unprecedented $2,240 billion in 2022, marking a 3.7% increase in real terms, with military expenditure in Europe rising significantly by 13% over the year. This increased funding is expected to boost SWIR adoption for improved surveillance, reconnaissance, and target identification capabilities.
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Global SWIR Market Segments
The swir market covered in this report is segmented –
1) By Type: Area Scan, Line Scan
2) By Technology: Cooled, Uncooled
3) By End-User: Electronics And Communication, Aerospace, Food And Beverage, Automotive, Medical And Healthcare, Military And Defense, Other End-Users
By Geography:The regions covered in the swir market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
North America was the largest region in the SWIR market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period.
Major SWIR Industry Players
BAE Systems, Thales Group, Raptor Photonics Ltd., Leonardo DRS Inc., Hamamatsu Corp., Jenoptik AG, FLIR Systems Inc., Gooch & Housego Plc, Teledyne DALSA Inc., Sofradir, Lynred, Xenics NV, Sensors Unlimited Inc., InView Technology Corporation, IRCameras LLC, Episensors Inc., Allied Vision, Sierra-Olympic Technologies Inc., Irnova AB, New Imaging Technologies, Photon Etc Inc., Princeton Infrared Technologies Inc., SWIR Vision Systems Inc., QmagiQ LLC
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SWIR Market Overview
Short-wave infrared (SWIR) refers to a specific band of the infrared spectrum that spans wavelengths from approximately 1,000 nanometers (nm) to 3,000 nm. SWIR imaging is used in various applications, including industrial inspection, surveillance, and scientific research, due to its ability to penetrate materials such as smoke, haze, and certain fabrics and to provide detailed images that are not visible in the visible light spectrum.
SWIR Global Market Report 2023 provides data on the global swir market such as market size, growth forecasts, segments and geographies, competitive landscape including leading competitors’ revenues, profiles and market shares. The swir market report identifies opportunities and strategies based on market trends and leading competitors’ approaches.
