What are the Historical Developments and Current Growth Metrics of the SWIR Market?
The swir market has seen considerable growth due to a variety of factors.
• The SWIR market has grown steadily in recent years. It will increase from $2.38 billion in 2024 to $2.58 billion in 2025, reflecting a CAGR of 8.8%.
This growth is driven by rising investments in the military and defense sector, the adoption of SWIR technology for semiconductor inspection, expanding applications in various industries like surveillance, agriculture, and medical imaging, and the growing demand for SWIR cameras in the food and beverage sector.
What Does Future Hold for The SWIR Market By 2029?
The swir market is expected to maintain its strong growth trajectory in upcoming years.
• The SWIR market is projected to grow strongly, reaching $3.58 billion by 2029 at a CAGR of 8.5%.
Growth is attributed to the increasing adoption of SWIR cameras across industries, such as oil and gas, glass, and medical, and their use in research, spectrometry, and navigation. Trends include integration into night vision systems, R&D initiatives, and advancements in image sensors.
What Are The Primary Growth Drivers In The SWIR Market?
The surge in investments for military and defense purposes is anticipated to stimulate the SWIR market's expansion. The military and defense sectors, which involve the development, manufacture, and distribution of military hardware, technologies, and services for national defense and security, are escalating due to rising geopolitical tensions, technological progress, and the pressing demand for modernization of national security and defense. These sectors promote SWIR application by backing advancements in imaging technology for improved surveillance, reconnaissance, and target identification capabilities. For example, the Stockholm International Peace Research Institute, based in Sweden, reported in April 2023 that global military spending achieved a record high of $2,240 billion in 2022, demonstrating a 3.7% increase in real terms. It is significant to note that military expenditure in Europe saw an impressive growth of 13% within a year. Thus, the escalating investments in the military and defense sectors are propelling the growth of the SWIR market.
What Is The Segmentation Of The Global SWIR Market?
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
Subsegments:
1) By Area Scan: Multispectral Area Scan SWIR Cameras, Hyperspectral Area Scan SWIR Cameras, High-Speed Area Scan SWIR Cameras
2) By Line Scan: Continuous Line Scan SWIR Cameras, High-Resolution Line Scan SWIR Cameras, High-Speed Line Scan SWIR Cameras
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How Are New Trends Impacting The Size Of The SWIR Market?
Leading enterprises in the SWIR market are focusing on the creation of innovative technologies like shortwave infrared (SWIR) cameras to maintain a competitive advantage. These SWIR cameras are a powerful and compact series of industrial and advanced scientific cameras, employing InGaAs sensor technology to offer imaging in the short-wave infrared spectrum that lies between 900 nm to 1,700 nm. For example, in November 2022, Allied Vision Technologies GmbH, a firm based in Germany renowned for its industrial machine vision cameras and image solutions, introduced four new SWIR cameras under the Goldeye series. Integrating dual-stage sensors, cooling systems, and image correction abilities, these cameras can effectively discern wavelengths between 1.9 to 2.2 micrometers. Their versatile application ranges from laser beam profiling and waste and water content detection, to the identification of foreign substances and contamination.
Who Are the Key Players In The SWIR Market?
Major companies operating in the SWIR market are:
• 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
What Are The Regional Insights Into The SWIR Market?
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. The regions covered in the SWIR market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
