Increasing demand for thermal imager quipped with mid-IR sensor in space exploration industry is expected to drive growth of the global mid-IR sensors market during the forecast period     
A thermal imaging camera or infrared camera is one of the major applications of mid-IR sensors. Thermal imagers are a non-contact type thermal camera that provides visual information on display using thermal radiation. Thermal imagers are rapidly adopted in the space exploration industries for image sensing and data mining. For instance, according to Jet Propulsion Laboratory (JPL), a part of the U.S.-based space exploration agency NASA, is launching James Webb Space Telescope in 2021. In this telescope, NASA is using the Mid-Infrared Instrument (MIRI). This instrument will help the telescope to capture image stars and galaxies in infrared light. Also, this data will be analyzed for the evolution of the universe and star formation. Moreover, the space exploration industry is rapidly growing. According to Coherent Market Insights’ analysis, space exploration industry is expected to reach around 1.2 trillion by 2040. Thus, increasing demand for thermal imagers equipped with mid-IR sensors in the space exploration industry is expected to drive growth of the global mid-IR sensors market during the forecast period
Low scalability and high manufacturing cost are expected to hamper the global mid-IR sensors market growth during the forecast period
Various chemicals and biological substances can be accurately detected by mid-IR sensors, which is a major factor driving the mid-IR market growth. However, detection of each and every substance requires a specific light source and detector, which ultimately increases end-product cost. The demand for mid-IR sensors is increasing in the material and chemical detection market, however, low scalability and high manufacturing cost are expected to hamper growth of the global mid-IR sensors market over the forecast period.
On April 22, 2020, CMLaser Technologies Inc., a U.S.-based electronics company, received funding of undisclosed amount from University of Arizona. This funding was for development of laser-based countermeasures to protect military and civilian aircraft from missiles.
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Market Opportunities
An increase in demand for low-cost mid-IR sensors for consumer products is expected to create lucrative growth opportunities for players operating in the global mid-IR sensors market
Earlier, low-cost optical sensing technology was mainly limited to near-infrared (IR) and visible wavelengths; however, currently, there is an increase in demand for mid-IR wavelengths (2.5–25 µm) equipped with low-cost optical sensing technology for applications including thermal imaging spectroscopy, air quality monitoring, and consumer products. Among these applications, use of mid-IR sensors in consumer products is expected to provide lucrative growth opportunities to the key players. Mid-IR sensors can be used for composition analysis of edible oils, sugar and salt monitoring of food items, and other applications. According to Coherent Market Insights’ analysis, India consumer products registered a growth of 13.3% in the year 2018-2019 and it is expected to increase over the forecast period. Thus, an increase in demand for low-cost mid-IR sensors for consumer products is expected to create lucrative growth opportunities for players operating in the global mid-IR sensors market.
Competitive Landscape
Key players operating in the global mid-IR sensors market include Daylight Solutions, Inc., Structured Materials Industries, Inc., Maxion Technologies, SenseAir, Sofradir, Cascade Technologies, Inc., AdTech Optics, Inc., Block Engineering, LLC, HAMAMATSU PHOTONICS K.K., M-Squared Lasers Limited, Opto-Knowledge Systems, Inc., CMLaser Technologies Inc., Genia Photonics, IPG Photonics Corporation, Coherent, Inc., EKSPLA, Northrop Grumman Corporation, Quantum Composers, Inc., Coractive High-Tech Inc., and others.
These key market players are focusing on strategic expansions to meet the increasing consumer demand.
Key Developments
• Key companies in the market are focused on partnership in order to gain competitive edge in the market. For instance, in February 2020, Senseair AB, AMO GmbH, KTH Royal Institute of Technology, Oxford Instruments Plasma Technology Ltd, Graphenea Semiconductor SL, Universität der Bundeswehr München, Catalan Institute of Nanoscience and Nanotechnology, and SCIPROM Sàrl entered into a partnership in order to develop new mobile gas sensing technology for mobile gas sensing for industrial, safety, and environmental monitoring applications.
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