9.1% CAGR growth expected in Global Night Vision Device Market
Night Vision Devices Market is valued at USD 6.18 Billion in 2019 and expected to reach USD 11.37 Billion by 2025 with the CAGR of 9.1% over the forecast period.
Rapidly increasing adoption of these devices in military is one of the major factors driving the growth of Global Night Vision Devices Market.
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Scope of Global Night Vision Devices Market Report-
Night vision device is electro optical device used to detect visible and infrared energy and provide a visible image. This technology provides user with some vision in total darkness and improved vision in low-light environments. Night vision devices includenight vision goggles, forward-looking infrared, thermal sights, and low-light level television. These devices havevarious applications such as; night driving or flying, night security and surveillance, wildlife observation, sleep lab monitoring and search and rescue. Night vision devicesare mostly used in the military and also have recreational purpose. Additionally, night vision devicesare also called as night optical/observation device (NOD) and night-vision goggles (NVG), these devices are firstly used in World WarII and it is introduced by the German Army.
Key Players for Night Vision Devices –
Global Night Vision Devices report covers prominent player’s include Thales group, FLIR Systems, Inc., BAE Systems Plc, Collins Aerospace, Bharat Electronics Limited, L3 Technologies, Inc., Harris Group Inc., American Technologies Network Corp., Elbit Systems Ltd. and SATIR and others.
Global Night Vision Devices market report is segmented on the basis of product, technology, application and region& country level. Based upon product, the market is classified into goggles, camera, scope and others. Based upon technology, the market is divided into on image intensifiers, thermal imaging and infrared illumination. Based upon application, market is divided into navigation, surveillance, targeting and others.
The regions covered in this Night Vision Devices market report are North America, Europe, Asia-Pacific and Rest of the World. On the basis of country level, market ofNight Vision Devices sub divided into U.S., Mexico, Canada, U.K., France, Germany, Italy, China, Japan, India, South East Asia, GCC, Africa, etc.
News:
FLIR Announced Suite of Thermal and Night Vision Products for Tactical Professionals and Hunters
January 15th, 2018; The FLIR announced a variety of thermal and night vision products for the tactical and outdoor markets. Weighing only 7.4oz, the FLIR Breach multifunctional thermal monocular is FLIR’s lightest, most compact, full-featured 320x240 thermal monocular that fits in a pocket or mounted to a helmet. Powered by FLIR’s 12-micron high-performance Boso thermal core, the Breach delivers crisp images on a high-definition display, and offers recording and internal storage of up to four hours of video and 1,000 still images. FLIR is also expanding its Armasight by FLIR night vision lineup with new monocular and binocular families with hand, weapon or helmet mounted options.
Global Night Vision Devices Market Segmentation:-
By Product:
· Goggles
· Camera
· Scope
· Others
By Technology:
· Image Intensifiers
· Thermal Imaging
· Infrared Illumination
By Application:
· Navigation
· Surveillance
· Targeting
· Others
Rapidly Increasing Adoption of These Devices in Military is One of the Major Factors Driving the Growth of Global Night Vision Devices Market.
One of the major factors driving the growth of the global night vision devices market is its rapidly increasing adoption in military and defense sector. In addition, its various advantages such as excellent low-light level sensitivity, enhanced visible imaging yields the best possible, recognition and identification performance, high resolution, low power and cost andability to identify people are also fostering the market growth. Additionally, increasing military budget in various countries and upgradation of current devices in defense are also supplementing the market growth. However, due to economic slowdown most of the countries have to be cautious about the military funding which may hamper the market growth. In spite of that, rapidly increasing technological advancement and growing expenditure by government into R&D night vision technology may create the number of opportunities for the further growth of the market.
North America is expected to Dominate the GlobalNight Vision Devices Market.
North America is expected to dominate the global night vision devices market due to the increasing investment in technological advancementsin this field and growing investment in military equipment in this region. For example, according to American security; The U.S. Army has awarded BAE Systems $97 Million in Orders for Night Vision Goggles and Thermal Weapon Sights. Asia pacific is an emerging market in night vision device market due to the increasing use of advance military devices and growing inclination towards the cost effective technological advance devices in this region. Additionally, increasing military budget in developing countries is another factor anticipated to propel growth of the night vision device market in this region.
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