The Hyperspectral Imaging System Market Grows With Rising Demand From Military And Defense Industries As Per The Business Research Company's Hyperspectral Imaging System Global Market Report 2022
TBRC’s market research report covers hyperspectral imaging system market size, hyperspectral imaging system market forecasts, major hyperspectral imaging system companies and their market share, key strategies to undertake, and more.
LONDON, Feb. 17, 2022 (GLOBE NEWSWIRE) -- According to The Business Research Company’s research report on the Hyperspectral Imaging System (HSI) market, increasing demand from the military and defense sectors is expected to drive the growth of the hyperspectral imaging system market going forward. The defense sector requires collecting airborne and space-borne intelligence, surveillance, and reconnaissance (ISR) information for various internal uses through various electro-optical devices, such as hyperspectral imaging. These devices also have applications in various aerial vehicles. For instance, in 2020, the Pentagon’s Defense Innovation Unit (DIU) was seeking offers from US operators of remote sensing satellites capable of providing data analytics and imagery services. The DIU is interested in remote sensing technologies such as hyperspectral imaging, synthetic aperture radar, electro-optical imaging, radiofrequency sensing, and infrared imaging. Therefore, the increasing demand from the military and defense sectors propels the growth of the hyperspectral imaging system market.
Request for a sample of the global hyperspectral imaging system market report
The global hyperspectral imaging system market size is expected to grow from $15.04 billion in 2021 to $17.76 billion in 2022 at a compound annual growth rate (CAGR) of 18.1%. The change in the market's growth trend is mainly due to the companies' stabilizing their output after catering to the demand that grew exponentially during the COVID-19 pandemic in 2020. The hyperspectral imaging system market is expected to reach $33.48 billion in 2026 at a CAGR of 17.2%.
The development of affordable hyperspectral imaging cameras is amongst the promising hyperspectral imaging system market trends. In the historic period, the cost of hyperspectral imaging systems was high, but the recently emerging affordable hyperspectral imaging systems are proving to be helpful in many fields, especially in medical and diagnostics, scientific and laboratory work, and others. For instance, in 2020, Hyspex, a Norway-based company that offers hyperspectral cameras, announced the launch of an affordable universal hyperspectral camera with sharp optics and good accuracy. The camera, featuring a special detector, is designed for field, laboratory, and airborne applications.
Major players in the hyperspectral imaging system market are Headwall Photonics, Specim, Corning Incorporated, Norsk Elektro Optikk AS, Resonon Inc, Telops Inc., Surface Optics Corporation, CytoViva Inc., Applied Spectral Imaging Ltd, Raytheon Company, BaySpec Inc, Horiba Ltd, Hamamatsu Photonics K.K, Thorlabs Inc, Cubert GmbH, Diaspective Vision GmbH, and Raptor Photonics.
The global hyperspectral imaging system market is segmented by product into cameras, accessories; by technology into push broom, snapshot, others; by application into military surveillance, remote sensing, life sciences and medical diagnostics, machine vision and optical sorting, others.
North America was the largest region in the hyperspectral imaging system market in 2021. The regions covered in the hyperspectral imaging system market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.
Hyperspectral Imaging System Global Market Report 2022 – Market Size, Trends, And Global Forecast 2022-2026 is one of a series of new reports from The Business Research Company that provide hyperspectral imaging system market overviews, hyperspectral imaging system market analyze and forecast market size and growth for the whole market, hyperspectral imaging system market segments and geographies, hyperspectral imaging system market trends, hyperspectral imaging system market drivers, hyperspectral imaging system market restraints, hyperspectral imaging system market leading competitors’ revenues, profiles and market shares in over 1,000 industry reports, covering over 2,500 market segments and 60 geographies.
The report also gives in-depth analysis of the impact of COVID-19 on the market. The reports draw on 150,000 datasets, extensive secondary research, and exclusive insights from interviews with industry leaders. A highly experienced and expert team of analysts and modelers provides market analysis and forecasts. The reports identify top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.
Not the market you are looking for? Check out some similar market intelligence reports:
Defense Support And Auxiliary Equipment Global Market Report 2022– By Type (Military Radars, Military Satellites, Other Defense Support And Auxiliary Equipment), By Payload Type (Communication Payload, Navigation Payload, Imaging Payload), By Application (Intelligence, Surveillance, And Reconnaissance (ISR), Communication, Navigation) – Market Size, Trends, And Global Forecast 2022-2026
Interested to know more about The Business Research Company?
The Business Research Company is a market intelligence firm that excels in company, market, and consumer research. Located globally it has specialist consultants in a wide range of industries including manufacturing, healthcare, financial services, chemicals, and technology.
The World’s Most Comprehensive Database
The Business Research Company’s flagship product, Global Market Model, is a market intelligence platform covering various macroeconomic indicators and metrics across 60 geographies and 27 industries. The Global Market Model covers multi-layered datasets which help its users assess supply-demand gaps.
The Business Research Company Europe: +44 207 1930 708 Asia: +91 8897263534 Americas: +1 315 623 0293 Email: info@tbrc.info LinkedIn: https://in.linkedin.com/company/the-business-research-company Twitter: https://twitter.com/tbrc_info YouTube: https://www.youtube.com/channel/UC24_fI0rV8cR5DxlCpgmyFQ Blog: http://blog.tbrc.info/
Legal Disclaimer:
EIN Presswire provides this news content "as is" without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the author above.
