Increasing Demand for Military and Civil Services Boosts Raytron’s Development
Under the shock of COVID-19, most firms have shown a decreasing trend in their operating incomes. However, Raytron could be seen as an exception. Benefitting from the disease, operating income from the firm’s thermometers had increased dramatically to CNY 0.69 billion by the middle of 2020, with an increase rate of 173%.
Besides the positive effects from COVID-19, the increasing need for military and civil services also helps expand Raytron’s business. With the development in ASIC technology and lower costs in chips, there is more room for domestic products to grow. As for military services, the newly infrared market, such as missile production, is updating rapidly, with the global market size set to be USD 10.8 billion in 2023. Based on these conditions, the firm’s revenues from military services had risen to CNY 0.16 billion by the middle of 2020, an increasing of 130% compared with last year.
Regarding civil services, uncooled technology has become mature these days, bringing about a broader room. Specifically, Raytron’s operating incomes in civil services have CNY 0.48 million in 2019, and even more to CNY 0.53 billion by the mid of 2020.