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. The market is anticipated to be driven by the rising demand for shortwave infrared lenses by the defense and military sector for obtaining images in bad weather conditions such as fog, water vapor, and other materials, and even in low light. Furthermore, the increasing use of shortwave infrared lenses in surveillance, marine intelligence, and vision enhancement adds impetus to the market’s growth. However, the high cost of manufacturing shortwave infrared lenses increases the overall price, restraining the market’s growth. 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.
The fixed lens segment dominated the market with market revenue of 117.49 million in 2021
The product type segment of the SWIR lenses market is divided into fixed lenses and zoom lenses. In 2021, the fixed lenses segment dominated the market with market revenue of 117.49 million. The segment has been growing because fixed lenses produce high-quality images even in harsh weather conditions.
The border & port surveillance segment accounted for the largest share of the market, with 12.4% in 2021.
The application segment is divided into military laser spotting, border & port surveillance, and night vision systems. Over the forecast period, the border & port surveillance segment is expected to grow at the fastest CAGR of 12.4%. The border and port surveillance department uses shortwave Infrared (SWIR) lenses to identify a person using photo matching and facial recognition, propelling the segment’s growth.
Regional Segmentation Analysis:
The Shortwave Infrared (SWIR) Lenses market is analyzed based on five regions: North America, Europe, Asia Pacific, South America, the Middle East, and Africa. The North American region is expected to be the largest market during the forecast period. The demand for Shortwave Infrared (SWIR) Lenses in North America has been growing owing to the increasing investment in the military and defense sector to enhance the security and surveillance of the military forces. The rapid development of SWIR lenses by top market players in developing countries of the region drives the market’s demand. The growing military expenditure in countries like Canada and the US also increases the demand for shortwave infrared lenses.
The major players in the Shortwave Infrared (SWIR) Lenses market include Teledyne FLIR LLC, Navitar, ADL Inc., Allied Scientific Pro, Alkor Technologies, Dongguan Zillion Technologies Co., Ltd., Edmund Optics Inc., Collins Aerospace, Opgal Optronic, Photon, etc., Allied Vision Technologies, among others.