| Market Capitalization (Millions $) |
- |
| Shares
Outstanding (Millions) |
133 |
| Employees |
4,265 |
| Revenues (TTM) (Millions $) |
1,940 |
| Net Income (TTM) (Millions $) |
236 |
| Cash Flow (TTM) (Millions $) |
-31 |
| Capital Exp. (TTM) (Millions $) |
59 |
Business Description
Company Profile: FLIR Systems, Inc.
Overview:
FLIR Systems, Inc. is a global leader in advanced thermal imaging technology, specializing in the design, manufacture, and marketing of thermal imaging systems. Our innovative products cater to various applications across commercial, industrial, and government sectors, both domestically and internationally. We aim to meet the diverse needs of our customers by offering a wide range of product configurations tailored to specific requirements.
Divisional Structure:
FLIR operates through three primary divisions:
1. Thermography Division:
The Thermography division focuses on products utilized for commercial and industrial applications where simultaneous imaging and temperature measurement are essential. Our product offerings range from highly sensitive cameras with advanced analytical capabilities to cost-effective models that deliver excellent performance for less demanding uses. Pricing for our Thermography products ranges from approximately $5,000 for handheld cameras suited for building inspections to over $150,000 for sophisticated scientific cameras. Our strategic direction emphasizes product development for high-end applications while simultaneously introducing lower-priced models to capture demand in emerging markets.
2. Commercial Vision Systems (CVS):
The CVS division targets emerging commercial markets requiring infrared imaging technology for visibility in low-light or adverse conditions. As the cost of infrared technology decreases, demand in previously untapped sectors—such as commercial security, automotive applications, marine, airborne, and first responders—has grown exponentially. CVS seeks to expand distribution channels, accelerate product design cycles, reduce manufacturing costs, and enhance customer service extensively. Product offerings include infrared sensors and camera cores, with prices ranging from under $2,000 for OEM imaging cores to over $450,000 for high-definition airborne electronic news gathering systems.
3. Government Systems (GS):
The GS division is dedicated to providing advanced solutions for government customers that demand superior performance. Key applications include surveillance, force protection, drug interdiction, search and rescue operations, special operations, and target designation. We employ a commercial model for product development, focusing on Commercial Off-the-Shelf (COTS) solutions and commercially developed military-qualified products (CDMQ). GS products are often customized for specific applications and are designed to incorporate additional sensors such as visible light cameras, low light cameras, laser rangefinders, illuminators, and designators.
Customer Base:
Our customer portfolio is varied across the three divisions. The Thermography division primarily serves research and development facilities, universities, industrial companies, utility providers, building inspectors, electrical contractors, thermography consultants, damage restoration professionals, and various commercial enterprises. In the CVS division, typical customers include OEMs, automotive suppliers, aircraft manufacturers, marine electronics dealers, and security system integrators. The GS division caters primarily to domestic and international government agencies, comprising military, paramilitary, and police forces, supported by a global service and distribution network in over 65 countries.
Competition:
The thermal imaging equipment market is characterized by substantial competition. Key competitive factors include product performance, pricing, customer service, product reputation, and effective marketing strategies. In the Thermography market, our primary competitors include Fluke (a division of Danaher Corporation), NEC San-Ei, and Mikron Infrared (a LumaSense Technologies company). For Commercial Vision Systems, competitors vary by market and include L-3 Communications, ULIS, NVTi, Axsys, ICX, and several smaller firms. In the Government Systems sector, major competitors are Raytheon Corporation, BAE Systems, L-3 Communications, DRS Corporation, Lockheed Martin Corporation, El-Op, Sagem, Tamam, and Thales. Many of these competitors possess significantly greater financial, technical, and marketing resources than FLIR.
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This profile captures the essence and operational structure of FLIR Systems, Inc. its market segments, competitive landscape, and customer diversity without referencing future expectations or external sources.
Company Address: 27700 SW Parkway Avenue, Wilsonville, 97070 OR
Company Phone Number: 498-3547 Stock Exchange / Ticker: NASDAQ FLIR
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