Flir System’s Night-Vision means growing success in new markets

Flir Systems is a tech company, founded as recently as 1978, that has been moving faster and faster up the ladder of success.  The company specializes in the production of “infrared technology for both commercial and government uses.” (1)  Flir uses infrared technology to produce “high-end, infrared cameras” (1) that are used especially in war zones such as Afghanistan and Iraq.  These cameras, which are also used at the United States border to catch illegal activity or drug smugglers, help find “land mines and explosives”(1) at these dangerous war scenes making them very popular with the government and military.  Especially during current war times, the company has been rapidly growing and increasing revenues, placing them on “BusinessWeek’s list of Hot Growth companies along with big names such as Apple, Google, and Microsoft.” (1) Their technology, which like I said earlier, tends to be “high-end”(1) or expensive, is both very necessary and important for strategic and safety purposes.

Flir Systems, however, remains generally unknown to the public, perhaps for many reasons.  One of the reasons is that the company hasn’t created products for the “consumer market” (1) yet.  They have focused mostly on government and military uses, but the prediction is that their great success will allow them to move into new markets.  The challenge for the company is to be able to enter these new markets by creating products that directly impact the general public. I personally believe that we have only seen the beginning of Flir Systems.  Now, Flir Systems, in working with other manufacturers, is going to try and "incorporate their technology into vehicles, such as boats and cars." (1)  Their technology will provide enhanced night-vision, opening up a whole new wave of potential growth for their future.  Also, Flir Systems is trying to make their own “home-surveillance systems,”(1) using thermography.  Thermography comes in the form of a “hand-held device” which can detect “poor insulation, gas and water leaks,” (1) all very important safety issues in a home.

Flir Systems has been one of the leading and most successful companies to date that uses infrared technology in the production of high-end products.  As a result, this company can be used as a great example of one who values information technology and uses business intelligence to achieve success.  Flir has virtually no competition, which gives the company a lot of creative space to test and try new things.  If the night vision plan takes off, Flir could gain big name exposure because they would be targeting an entirely new group of people.  Night-vision can be marketed as a new and improved safety feature in BMWs, and other luxury cars.  To be honest, driving at night is dangerous for anyone.  There is always the chance that a deer will run in front of your car or a person is riding a bike on the side of the road and you can’t see them in your headlights until it is too late.  Night-vision "uses technology to determine any sign of body heat, show the image on the dashboard screen" (1) and make a noise to alert the driver. Customers who purchase these cars will become aware of night-vision and more prone to look into the system for a safer car.  The company will enter a much larger target audience if they can create a less expensive, more reasonable night-vision, for all customers, not just wealthier ones.  Everyone can benefit from night-vision.

When my mom bought her Lexus SUV probably over 10 years ago, it was the first year the car had come out.  She paid extra for luxuries such as seat heaters, back window windshield wipers, a sunroof and others.  Now, she laughs at how inexpensive those quote on quote luxuries have become in comparison to the newly introduced ones such as the TV screen in the seats and a mini refrigerator in the passenger seat compartment.  Her luxuries at the time have become so mass produced and common in today’s car market that most cars include them, or the price is just a little bit higher to get them.  The same thing has happened with navigation systems.  While they are still expensive, the price has gone down since they first came out and now they are very common in some form, whether it be purchased separately or designed into the car.

  I’ve come to the conclusion that people are very intrigued by new innovations, especially if they serve as beneficial, and in this case, increased safety is definitely a benefit.  Most people will spend some extra money to stay in the loop of technology and even to stay as safe and protected as possible.  But as evident with the lexus example, if new technology becomes popular enough, the price will go down and it will become more prevalent in society.  Eventually, I think that will happen with Flir Systems’ products.

 

So what will prevent them from creating the next upcoming, popular piece of car technology or home safety feature?  The targeted market and the potential for success are there.  The only thing left for the company to do is release their product and watch it take off.

Source: 1.      http://www.businessweek.com/technology/content/oct2008/tc20081024_135220.htm