The Shortwave Infrared (SWIR) Market is poised for remarkable growth, with an expected valuation of US$ 418 million by 2033, reflecting an impressive compound annual growth rate (CAGR) of 7.8% over the next decade. As of 2023, the market is already at US$ 197.1 million, indicating the rapid trajectory it is on.

Hence, such cameras are widely used by military personnel for defense purposes as they have to detect suspicious activities along the border lines of the nation. Shortwave infrared cameras are used in low lights and at night as they have night vision mode.

They can easily differentiate between water vapors, temperatures, and different materials. Owing to these features, shortwave infrared devices can be used in spectroscopy, astronomy, and geology.

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Increasing adoption of shortwave infrared devices for surveillance and tracking applications is expected to promote additional growth. Military uses for shortwave infrared technology are anticipated to surge tremendously.

Shortwave infrared cameras have arisen to provide monitoring services for securing dangerous areas. They can be mounted on trucks, buildings, and unmanned aerial aircraft. They have the ability to detect any dangers or criminal behavior.

Key Takeaways from Shortwave Infrared (SWIR) Market

• In the historical period, the shortwave infrared market flourished at a CAGR of 8.7%, reaching US$ 181.5 million in 2022.
• By 2033, it is anticipated that the USA shortwave infrared market size will be worth US$ 134.7 million.
• Between 2023 and 2033, the shortwave infrared market in the United Kingdom is anticipated to surge at a 7.0% CAGR.
• The forecast timeframe is expected to see the Japan shortwave infrared business generate an absolute dollar potential of US$ 15,3 million.
• The market for shortwave infrared in South Korea is anticipated to expand at a CAGR of 8.2% during the anticipated period.

“Spectroscopy and astronomy both make substantial use of shortwave infrared linear cameras. They are employed to locate distant galaxies objects. At the same time, they are used to assess characteristics such as temperatures and determine if galaxies contain water,” says a lead analyst at Future Market Insights.

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Competitive Landscape: Shortwave Infrared (SWIR) Market

Market participants for shortwave infrared are consistently expanding their product lines and creating better analytical solutions. A select few shortwave infrared manufacturers are concentrating on partnerships, technological alliances, and product launch plans. The market’s tier 2 players want to expand their shortwave infrared market share.

The leading shortwave infrared firms include Raptor Photonics, Hamamatsu Photonics K.K., New Imaging Technologies, Allied Vision Technologies, Princeton Infrared Technologies Inc., Collins Aerospace, Leonardo DRS, InView Technology Corporation, Lynred, FLIR Systems Inc., Opgal Optronic, and IRCameras LLC among others.

For instance,

• In December 2021, TriEye, an Israel-based shortwave infrared sensing solutions provider, announced that it raised US$ 74 million in a funding round. It was led by M&G Investments, Varana Capital, and Samsung Ventures. This deal takes the total funding to the company to US$ 96 million. The funds will be utilized to commercialize spectrum enhanced detection and ranging (SEDAR). They are TriEye’s imaging and ranging solutions for advanced driver assistance systems and autonomous vehicles.
• In August 2021, Collins Aerospace, a USA-based defense equipment manufacturer announced that it has signed a definitive agreement to acquire FlightAware. The latter is a digital aviation company that provides decision making tools and global flight tracking solutions. Customer experience, data collection, and analytics from FlightAware are expected to help Collins Aerospace. It aims to provide a full ecosystem to its customers. The digital aviation solution is expected to help the defense and aviation industry bring a new revolution.
• In May 2021, Teledyne Technologies Incorporation based in the USA announced that it has acquired FLIR Systems. It designs and produces thermal imaging cameras and sensors. FLIR will be included in Teledyne’s digital imaging segment. It is expected to operate under the name Teledyne FLIR. Total consideration amount for the whole transaction is expected to be US$ 8.2 billion. Teledyne FLIR is set to provide a full spectrum of imaging technologies and complete imaging systems.

Get More Exclusive Insights into Shortwave Infrared (SWIR) Market Study

Future Market Insights, in its new offering, presents an unbiased analysis of the shortwave infrared market, presenting historical market data (2018 to 2022) and forecast statistics for the period of 2023 to 2033.

The study reveals extensive growth in the shortwave infrared market in terms of type (area scan, line scan), technology (cooled, uncooled), end user (electronics & communication, aerospace, food & beverages, automotive, medical & healthcare, military & defense), and Region.

Shortwave Infrared (SWIR) Market Outlook by Category

By Type:

• Area Scan
• Line Scan

By Technology:

• Cooled
• Uncooled

By End User:

• Electronics and Communication
• Aerospace
• Food and Beverages
• Automotive
• Medical and Healthcare
• Military and Defense
• Others

By Region:

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East & Africa