Brazil is amongst the leading economies in Latin-America. In last five years, the country has invested several billion dollars in its defense sector to upgrade armed forces and various defense equipment. Also, surging drug trafficking and upcoming Rio Olympic 2016 have added the need for advanced security systems in the country.
Additionally, UAV/drone market in Brazil is thriving owing to emergence of domestic as well as foreign players especially in small UAV segment. Moreover, Medium Size Long Endurance UAVs are in demand by law enforcement agencies in Brazil for surveillance of dense Amazon rain forest. Thermal imaging systems have gained popularity owing to all these developments in last few years primarily in defense sector.
According to 6Wresearch, Brazil thermal imaging market is forecast to reach $79.4 million by 2022. Defense projects pertaining to upgrades of helicopters & aircrafts and introduction of new mechanized infantry vehicle for Brazilian Army have spurred the market for thermal imaging systems in Brazil. Though, the market witnessed growth during 2012-14; in 2015 due to weak economic conditions and lower defense spending the market registered negative growth rate. By 2017, the market would bounce back on account of recovery of the economy and defense spending.
According to Prijo Samuel, Senior Research Analyst, Research and Consulting, 6Wresearch, “In Brazil thermal imaging market, uncooled technology based thermal imaging systems are mainly utilized, although a shift in demand towards cooled technology thermal imaging systems is anticipated over the next six years”.
“In commercial vertical, security segment led the overall revenues for thermal imaging devices/ systems, whereas in industrial vertical, power utilities segment accounted for key share of the market,” Prijo further added.
According to Akash Shukla, Research Associate, Research and Consulting, 6Wresearch, “The government has undertaken several upgrade projects pertaining to Brazilian armed forces. Already upgrades of F-5, AMX-1 fighter jets are underway along with up Fennec, Esquilo, and Panthers helicopters of Brazilian Airforce and Army. Additionally, Brazil government initiated “SISFRON” project for securing border areas and tackling cross border infiltrations especially surrounding Paraguay and Bolivia. These developments have led for the demand for thermal imaging systems in defense vertical.”
“In Brazil, thermal imaging systems are primarily imported due to lack of manufacturing in the country. The products are primarily imported from US and Asian countries. The growth in the forecast period is exhibited from commercial and industrial verticals due to declining prices and rising awareness amongst the end users”, Akash Shukla concluded.
“Brazil Thermal Imaging Market (2016–2022)” provides in-depth analysis with 62 figures and 7 tables covered in 100+ pages. The report estimates and forecast overall Brazil thermal imaging market by revenue, by vertical type: defense, industrial, commercial. The report also gives insights on price trends, market trends, Competitive Landscape, company profiles, market drivers and restraints.