The report published by The Brainy Insights shows that the global Shortwave Infrared (SWIR) Lenses market is expected to grow from USD 186.5 million in 2021 to USD 395.1 million by 2030, at a CAGR of 8.7% during the forecast period 2022-2030.
Shortwave Infrared (SWIR) Lenses are a type of lens that helps view non-visible light with a wavelength between 1400 and 3000 nanometers (nm). Shortwave infrared cameras are devices that can detect invisible radiation which is not visible to the naked eye. The increasing demand for shortwave infrared lenses in traditional surveillance imaging and developments increases the market's growth. The SWIR (Shortwave Infrared) lenses have specific different characteristics that make them more useful for capturing images in low light and might as well. It helps capture images during bad weather conditions, which makes it an ideal lens to be used in the defense and military sectors. Airbus Defence & Space (ADS), the prime contractor for the European Copernicus Land Surface Temperature Monitoring (LSTM) mission, selected Lynred to create a new linear SWIR (shortwave infrared) array. This linear shortwave infrared array is expected to be integrated into an image capable of measuring land-surface temperatures. This is expected to assist the organization in expanding its consumer base.
To enhance their market position in the global Shortwave Infrared (SWIR) Lenses market, the key players are now focusing on adopting the strategies such as product innovations, mergers & acquisitions, recent developments, joint ventures, collaborations, and partnerships.
Market growth and trends:
The increasing demand for Shortwave Infrared (SWIR) lenses in the military and defense sectors drive the market's growth as they are capable of capturing clear images in harsh weather, such as smoke, haze, fog, and water vapor pushes the market's growth and increasing use of shortwave infrared lenses in surveillance, marine intelligence, and vision enhancement adds impetus to the market's growth. However, the high capital investment required to obtain shortwave infrared lenses is restraining the market's growth. Furthermore, the stringent import and export regulation required for obtaining shortwave infrared lenses also hampers the needs during the forecast period. The rising demand for shortwave infrared lenses in various other applications, such as microbe and disease analysis, ecosystem evaluation, ergonomics, climate change studies, and psychology, provides growth opportunities for the market during the forecast period. However, the outbreak of the Covid-19 pandemic challenged the market's growth, as there were disruptions in the supply chain market.
The product type segment is divided into fixed lenses and zoom lenses. In 2021, the fixed lenses segment dominated the market with the largest market share of 63% and market revenue of 117.49 million. Fixed lenses are suitable for research, industrial and security applications owing to their high-quality images even in bad weather conditions, driving the segment's growth.
The application segment is divided into military laser spotting, border & port surveillance, and night vision systems. In 2021, the border & port surveillance segment accounted for the largest share of the market, with 46% and market revenue of 85.79 million. The increasing use of shortwave infrared lenses to identify a person using photo matching and facial recognition propels the segment's growth.
Regional Segment Analysis of the Shortwave Infrared (SWIR) Lenses Market
Among all regions, North America emerged as the largest market for the global Shortwave Infrared (SWIR) Lenses market, with a market share of around 33% and 61.5 million of the market revenue in 2021. The rapid development of shortwave infrared lenses by prominent market players in developing countries of the region drives the market's growth. Furthermore, the increasing investment in defense and military of the countries such as Canada and the US for security and surveillance increases the demand for shortwave infrared lenses. In addition, the growing military expenditure to strengthen the military and defense sector in countries like Canada and the US also propelled the market's growth in the region.
Key players operating in the global Shortwave Infrared (SWIR) Lenses market are:
This study forecasts revenue at global, regional, and country levels from 2019 to 2030. The Brainy Insights has segmented the global Shortwave Infrared (SWIR) Lenses market based on the below-mentioned segments:
Global Shortwave Infrared (SWIR) Lenses Market by Product Type:
Global Shortwave Infrared (SWIR) Lenses Market by Application:
About the report:
The global Shortwave Infrared (SWIR) Lenses market is analyzed based on value (USD Million). All the segments have been analyzed worldwide, regional, and country basis. The study includes the analysis of more than 30 countries for each part. The report analyzes driving factors, opportunities, restraints, and challenges for gaining critical insight into the market. The study includes porter's five forces model, attractiveness analysis, raw material analysis, supply, and demand analysis, competitor position grid analysis, distribution, and marketing channels analysis.