An imaging equipment that can record data outside of the visible light spectrum is called a multispectral camera. This implies that it can see things, such as infrared and ultraviolet wavelengths, that are just not visible to human eyes. This enables the camera to be used across various applications such as intelligence, surveillance, and reconnaissance; target and tracking; navigation and guidance; and others in the defense sector.
The North American countries such as U.S. and Canada have experienced a rise in military expenditure in 2022 compared to 2021. This rise in military budget has increased the procurement of advanced technology integrated aerial, land, and marine vehicles which in turn has increased the demand for multispectral cameras among manufacturers, thereby contributing toward the growth of the market over the years. In addition, the surge in demand for security and surveillance across borders is increasing the demand for multispectral cameras across the region, thereby propelling the growth of the market.
The COVID-19 pandemic has impacted the North America multispectral camera market, causing disruptions in the supply chain and production processes. Fluctuating demand and economic uncertainties have influenced market dynamics. Despite challenges, the market experienced a rapid recovery owing to the rise in investment by the defense sector in the procurement of aerial, land, and marine vehicles for their defense personnels.
The North America multispectral camera market is segmented into cooling technology, end use, imaging spectrum, application, and platform,. On the basis of cooling technology, the market is bifurcated into cooled and uncooled. On the basis of end use the market is segmented into man-portable and payloads. On the basis of imaging spectrum, the market is categorized into visible/near-infrared (VNIR), short-wave infrared (SWIR), mid-wave infrared (MWIR), and long-wave infrared (LWIR). On the basis of application, the market is divided into intelligence, surveillance, and reconnaissance; target and tracking; navigation and guidance; and others. On the basis of platform, the market is segmented into land, air, and marine. On the basis of country, the North America multispectral camera market is analyzed across the U.S., Canada, and Mexico.
Competitive analysis and profiles of the major North America multispectral camera market players that have been provided in the report include Teledyne Digital Imaging Inc.; Leonardo DRS; Raytheon Technologies Inc (Collins Aerospace); HENSOLDT AG; SILIOS Technologies; JAI A/S, Telops Inc; L3Harris Technologies, Inc; Kappa optronics GmbH; Surface Optics Corporation. The key strategies adopted by the major players of the North America multispectral camera market are product launch and mergers & acquisitions.
On the basis of country, the U.S. is expected to be the largest market shareholder due to the country’s constantly increasing military expenditure to integrate advance technologies across all its defense platforms such as land, air, and marine.
The North America multispectral camera market is expected to witness notable growth owing to the presence of large number of multispectral camera manufacturers such as Teledyne Digital Imaging Inc.; Leonardo DRS; Raytheon Technologies Inc (Collins Aerospace) L3Harris Technologies, Inc; Kappa optronics GmbH; Surface Optics Corporation and their consistent investment in developing new product. In addition, the rise in investment by the U.S. army in the procurement advanced multispectral cameras is further contributing to the growth of the market.
The North America multispectral camera market is highly competitive, owing to the strong presence of existing vendors. Vendors of the North America multispectral camera market with extensive technical and financial resources are expected to gain a competitive advantage over their competitors because they can cater to market demands. The competitive environment in this market is expected to worsen as technological innovations, product extensions, and different strategies adopted by key vendors increase.
Key Developments & Strategies
- In October 2023, Leonardo DRS announced the launch of its new high-resolution EMIR-SR multispectral camera for aerial intelligence, surveillance, and reconnaissance (ISR) mission's applications.
- In September 2023, Teledyne FLIR unveiled the Blackfin X400, a small, long-range thermal and multispectral camera for tactical operations. It provides outstanding night vision and image clarity for threat detection and situational awareness.
- In November 2023, The US Army awarded L3Harris Technologies a $51.6 million contract to supply Viper Long-Range Reconnaissance Pods (LRRP). Multispectral sensors are housed in these pods to improve intelligence gathering and long-range target identification.
- In August 2023, A $14.9 million contract was given to Leonardo DRS to supply US Army helicopters with AN/ASQ-228 Advanced Targeting and Situational Awareness (ATSA) pods. These pods combine multispectral sensors with other imaging systems to enhance target acquisition and battlefield awareness.
KEY BENEFITS FOR STAKEHOLDERS
- This study comprises analytical depiction of the North America multispectral camera market size along with the current trends and future estimations to depict the imminent investment pockets.
- The overall North America multispectral camera market analysis is determined to understand the profitable trends to gain a stronger foothold.
- The report presents information related to key drivers, restraints, and opportunities with a detailed impact analysis.
- The current North America multispectral camera market forecast is quantitatively analyzed from 2022 to 2032 to benchmark the financial competency.
- Porter’s five forces analysis illustrates the potency of the buyers and suppliers in the smart display.
- The report includes the market share of key vendors and North America multispectral camera market.
North America Multispectral Camera Market Report Highlights
| Aspects | Details |
 Market Size By 2032 | USD 1.6 billion |
 Growth Rate | CAGR of 8.9% |
 Forecast period | 2022 - 2032 |
 Report Pages | 113 |
 By Cooling Technology |
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 By End Use |
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 By Imaging Spectrum |
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 By Application |
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 By Platform |
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 By Country |
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 Key Market Players | General Dynamics Corporation, Lockheed Martin Corporation, FLIR Systems, Raytheon Technologies, Teledyne Technologies, Leica Geosystems, Thermo Fisher Scientific, Northrop Grumman Corporation, Harris Corporation, L3Harris Technologies |
The North America Multispectral Camera Market is estimated to reach $1.6 billion by 2032
FLIR Systems, L3Harris Technologies, Teledyne Technologies, Raytheon Technologies, Leica Geosystems, Thermo Fisher Scientific, General Dynamics Corporation, Harris Corporation, Lockheed Martin Corporation, Northrop Grumman Corporation are the leading players in North America Multispectral Camera Market
1. The report provides a comprehensive analysis of the current market estimations through 2022-2032, which would enable the stakeholders to capitalize on prevailing market opportunities. 2. Major countries are mapped according to their revenue contribution to the north america multispectral camera market. 3. In-depth analysis of the north america multispectral camera market segmentation assists to determine the prevailing market opportunities. 4. Identify key players and their strategic moves in north america multispectral camera market. 5. Assess and rank the top factors that are expected to affect the growth of north america multispectral camera market. 6. Analyze the market factors in various countries and understand business opportunities. 7. Player positioning provides a clear understanding of the present position of key market players.
North America Multispectral Camera Market is classified as by cooling technology, by end use, by imaging spectrum, by application, by platform
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