SWIR, MWIR and Cooled Infrared Imaging 2025

Key Features 

• 2025-2030 forecast SWIR image sensors (kunits, $M)
• 2025-2030 cooled MWIR and LWIR image sensors (kunits, $M)
• Wafer start for the read-out integrated circuit
• Market trends for defense, industrial, consumer and automotive markets
• Overview of the infrared imaging supply chain
• Market share of image sensor manufacturers
• Insight on infrared image sensor players’ strategies and positioning
• Technology trends in cooled infrared imaging
• Detailed technology trends in SWIR legacy and emerging platforms

What's new

• We have enlarged the coverage of the report to the infrared cooled technologies used in the MWIR and LWIR domains
• Update on the status of the SWIR imaging industry. The adoption of SWIR technologies in the consumer market is delayed
• Growing opportunities for the low-cost technology platforms in defense driven by higher investments from governments

Product objectives:

• This report aims to provide an understanding of the infrared imaging industry based on photodetection, spanning the SWIR, MWIR and LWIR domains. This includes:
  • A mapping of the applications and the associated market data and dynamics (forecast in volumes and value).
  • Mapping of the ecosystem of companies linked to this infrared imaging industry and its associated dynamics.
  • Mapping of the different technologies used for the photodetection as well as around the sensor.
• Cooled MWIR and LWIR platform being extensively used in defense, one objective of the report is to provide an understanding of the on-going dynamic in this segment, in a context of geopolitical tensions.
• New very low-cost technologies are being explored in the SWIR domain for potential applications in mass markets such as consumer and automotive. Scenarios of adoption have been detailed in the past edition of the report published in 2022 and 2023. This report provides an updated point of view for the future of these technologies.
• Answer the growing demand for market data related to defense technologies.
  

An accelerating defense business

SWIR Image Sensors:

Market growth is driven by the increasing adoption of SWIR cameras in long-range surveillance systems, as well as in semiconductor and battery inspection. Image sensor suppliers are making strong efforts to reduce prices, which negatively impacts the industrial segment’s growth in terms of value.

Over the past five years, multiple companies have begun developing and commercializing devices based on new technologies expected to disrupt pricing, enabling integration into consumer and automotive systems. A company actively developing quantum dot technology—reportedly for next-generation smartphone biometric modules—has put its development on hold, delaying potential adoption in the consumer segment.

Cooled MWIR and LWIR Image Sensors:

These sensors are primarily used in the defense sector, which is experiencing tailwinds due to geopolitical instability, driving significant government investments. Ongoing conflicts have led to the widespread use of drones, creating new demands for air defense, including detection and interception methods, as well as lower-cost solutions.

An unstable geopolitical context driving investments

The CAPEX of defense OEMs has been increasing since the start of the war in Ukraine, driven by rising government budgets and contracts. At the same time, we observe strong M&A dynamics, with numerous acquisitions taking place between 2022 and 2024. This trend is leading to greater vertical integration within the defense industry, sometimes creating new competitive landscapes. For example, Lynred is now competing with Exosens in the SWIR segment following their respective acquisitions of NIT and Xenics.

A new ecosystem of software-defined companies is emerging, focusing on drones, counter-UAS technologies, and AI implementation. This ecosystem is characterized by substantial private investments and shorter product development cycles, which could exert competitive pressure on the long-established industry in the mid-term.

Sony has become the market leader in SWIR with its InGaAs image sensor, steadily increasing its market share in the industrial segment.

In the newcomer ecosystem (including quantum dots and germanium-based technologies), financial activity accelerated in 2024 after a quiet year in 2023, exemplified by onsemi’s acquisition of SWIR Vision Systems. Meanwhile, this sector is refocusing on the defense segment, where government funding is supporting the development of low-cost defense technologies.

The quantum dots as key solution for SWIR and MWIR imaging?

The quantum dots platform has been in the spotlight since Sony demonstrated a prototype at IEDM 2024. The ecosystem is developing Pb-free solutions (InAs), which are more compliant with the requirements of the consumer segment.

InGaAs is also maturing, with a significant reduction in pixel size achieved by Sony in 2023, reaching 3.45 µm, along with ongoing investigations into the direct epitaxy of InGaAs layers on silicon wafers.

Cooled MWIR and LWIR technologies continue to advance toward higher resolution, longer lifetimes, and lower cooling requirements. The emergence of T2SL and similar architectures a few years ago has contributed to improving these characteristics.

The geopolitical context has led governments to show greater interest in low-cost technologies. This has motivated funding for emerging technology platforms, such as quantum dots, which may have the potential to enable uncooled MWIR photodetection.

Glossary

Methodologies and definitions

Imaging activity

Companies cited

Scope of the report

What we got right what we got wrong

Three-page summary

Executive summary

Introduction

Market forecast

• Segmentation
• SWIR image sensors
• Cooled MWIR image sensors
• Cooled LWIR image sensors
• Market forecast synthesis

Market trends

• General market trends
• Market trends in high-end infrared imaging
• Market trends for low-end infrared imaging

Ecosystem and supply chain

• Ecosystem description
• Focus on the SWIR ecosystem
• Financial and strategy insights

Technology trends

• Focus on SWIR technologies
• Roadmap and synthesis

Conclusion

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About Yole Group

Adasky, Aeluma, AIM, Airspace, ams-OSRAM, Anduril, Apple, Artilux, Aselsan, Attollo Engineering, BAE Systems, Baykar, Bluehalo, CETC, Chunghwa, Coherent, Corning, Dedrone, DJI, Elbit Systems, Emberion, EV Group, Exosens, Exosens (Telops), Exosens (Xenics), Eye4nir, Forza Silicon, Fujifilm, GA-ASI, General Atomics, Ghopto, GigaDevice, Gpixel, Guide Infrared (GSTiR), Hamamatsu, Hanwha Systems, Headwall Photonics, Helsing, Hensoldt, HESA, HLJ Technology, Honeywell, i3system, Imasenic, IMEC, Infiray, Invariant, Irnova, Isorg, Javelin, Kowa, L3Harris, Leonardo DRS, LightPath, Lihan, Lockheed Martin, Lucid Vision Labs, Lynred, Lyrned (NIT), Metahelios, Mikro Tasarim, mks(Ophir), Nanoco, New Infrared Technologies, NIL Technology, Norinco, Northrop Grumman, Noxant, Obsidian Sensors, OKSI, onsemi, onsemi (SWIR Vision Systems), Overwatch Imaging, Owl, Palantir, Princeton Infrared Technologies, QDI Systems, Quantum Science, Quantum Solutions, Qurv, QustomDot, Rafael, Raptor Photonics, Reveal, Reynard Corporation, Ricor, Rostec, RTX (Raytheon), RTX (Sensor Unlimited), Safran, Samsung, Scale, SCD, Schott, Senseeker, Serino, Shield AI, Sierra-Olympia, Silios, Skydio, Skywater, Smart Equipment Technology, Sony, StingRay, STMicroelectronics, Stratio, Sumitomo, Sunny Optical Technology, Sunpower, Süss MicroTec, Tamron, Teledyne, Thales, Theon International, Tokyo Electron, Toppan, Tower Semiconductor, Trieye, TSMC, Vigo Photonics, Visera, Xfab, and more.