Commercial applications comprise of building diagnosis and airport security . Furthermore , it is widely used in numerous security applications . Residential sector is expected to witness substantial growth owing to availability of low cost devices and high product penetration . Thermal imaging helps in reduce time-consuming and costly investigations and is used to conduct detection of moisture in walls , ceiling , roofs , plumbing leaks or blockages and energy audits .
Regional Insights North America is expected to emerge as the dominant regional market owing to high demand for thermal imaging devices across several law enforcement activities . Furthermore , growth across both commercial and industrial sectors is projected to drive product demand over the forecast period . Rising demand in surveillance and security applications is projected to fuel demand in Europe . Owing to rising defense budget in Asia-Pacific , the region is projected to grow substantially .
Competitive Insights Some of the major players in the industry are Raytheon Company , FLIR system Inc ., BAE systems Inc ., and DRS technologies Inc . Constant price wars and high competition among the companies is a characteristics of the market . High importance is laid on developing advanced and cost effective apartments by companies . Product differentiation also forms a key part of business growing strategy . FLIR systems Inc . expanded its portfolio by introducing smartphone with thermal imaging ability . Other players in the industry are Axis Communications , Honeywell , Nippon Avionics , Safran , Lockheed Martin , Sofradir EC Inc ., Ulis , Testo AG , and Thermoteknix Systems Ltd .
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Manufacturer focus primarily on innovation of new technologies and unique products , global deployment , and building capacities to design for large volumes and also reduce production cost . Vertically integrated operations help companies to emphasize on enhancing control on multiple production inputs , customer service and rapid product development cycle . The industry is also characterized by high degree of vertical integration between manufacturers and suppliers .
Companies are able to maintain control over component technologies using vertical integration . Moreover , an integrated approach enables manufacturers in achieving lower improved functionalities and lowering costs . This approach minimizes dependency on third party suppliers for critical components facilitating companies to meet critical deadlines . FLIR system built a manufacturing model which was vertically integrated in order to optimize its manufacturing output and reduce dependence on third party vendors for supply of critical components . Manufacturers emphasize on vertically integrating operations including global deployments such as designing large production volumes , innovating new technologies and differentiated products and simultaneously