Share this article Share this article ResearchAndMarkets.com's offering. According to this report the market is expected to reach US$ 9,055.58 million by 2027 and is likely to register a CAGR of 7.1% from 2020 to 2027. Several industries such as aerospace and defense, automotive, healthcare, and others are investing heavily in advanced technologies to strengthen their capabilities with advanced machinery and offer enhanced services to customers. The market players present in countries such as Russia, the US, and France are developing advanced infrared cameras for the global market. Rising procurement of infrared cameras by the US Army is propelling its market growth. Developing nations such as India, China, and Indonesia are strengthening their military capabilities due to rising border clashes with neighboring countries. Furthermore, the adoption of infrared cameras has increased in the automotive sector due to the ongoing COVID-19 pandemic. For instance, in March 2020, the Chinese government planned to install temperature monitoring infrared cameras on the public transport.