Thermal Imaging Market Surpasses $7B in 2024, Fueled by Chinese Growth and Defense Demand

On August 28, 2025, Yole Group released its "Thermal Imaging & Sensing 2025", detailing that the thermal imaging and sensing market reached over $7 billion in revenue in 2024. The report highlights the significant role of Chinese manufacturers, who produced 60% of global thermal image sensors in 2024, driving market growth in industrial and consumer segments. In contrast, Western companies faced saturated local markets, focusing on high-value applications like defense and surveillance.

The report projects the defense and aerospace segment to grow to nearly $4 billion by 2030, driven by demand for integration in light unmanned aerial vehicles (UAVs) amid ongoing global conflicts. The automotive sector is expected to reach $285 million by 2030, supported by U.S. automatic emergency braking (AEB) regulations and increased adoption of night vision in high-end Chinese vehicles. While industrial and consumer markets are slowing in Europe and North America, they remain robust in China due to large local production capacities.

Yole Group notes a regional decoupling, with Chinese firms Hikmicro and Raytron expanding rapidly in 2024, while Western players prioritize defense and surveillance. Th...