Research Nester recently published report titled “Military Night Vision Device Market: Global Demand Analysis & Opportunity Outlook 2027” delivers detailed overview of the military night vision device market in terms of market segmentation by device type, by technology, by applications, and by regions.
The global military night vision device market is segmented based on device type into goggle, camera and scope; by technology into image intensifier, thermal imaging and infrared illumination; by applications into surveillance, navigation, targeting and others, and by regions. The global military night vision device market is estimated to grow at a CAGR of around 10% over the forecast period i.e. 2019-2027.
The growing necessity of modern army to operate at night and during poor visibility conditions has led to the substantial advancement in the technology of night vision device. On account of rising terrorist attacks and focus on counter operations, increasing incidences of border trespassing and focus on border protection, the growth of these devices is significantly rising. With the increased spending by the government on the devices to fulfill patrolling and combat operations is one of the major factors driving the growth of global military night vision device market. In recent years, the U.S. Army placed orders worth USD 97 million for night vision devices and thermal weapon sights. The investments are important in making sure that the military operations continue to be efficient.
North America military night vision device market is anticipated to witness a fast growth. The region has witnessed extensive military expenditure and technological advancements, and thus, generates a very high demand for military night vision devices. Moreover, the U.S. military is adopting advanced technologies and investing in research and development in military night vision devices. Similarly, Europe is estimated to witness a significant growth in military night vision market on account of increasing military and defense expenditure in the Europe region for the incorporation of upgraded technology in the defense sector.
Emergence of Night Vision Devices with Thermal Imaging
The addition of thermal imaging technique into night vision devices is proving to be a great innovation. Night vision provides soldiers with greater situational awareness by illuminating the surroundings during nighttime operations, while thermal imaging help soldiers locate a target in poor visibility conditions. This integration of innovation provide soldiers the ability of sight in low visibility conditions, such as fog or heavy smoke, and handles the seamless transition from day to night and from far-sight to close-up.
Night vision devices are becoming considerably cheaper and are being procured by the common people for a wide variety of applications, ranging from hunting to paranormal research.
However, increased usage of drones is the major factor hampering the growth of military night vision market. The reduced government spending on vision equipment will significantly hamper the growth of the market during the forecast period.
Further, for the in-depth analysis, the report encompasses the industry growth drivers, restraints, supply and demand risk, market attractiveness, BPS analysis and Porter’s five force model.
This report also provides the existing competitive scenario of some of the key players of the global military night vision device market which includes company profiling of Meopta Optica S.R.O, L3 Technologies Inc., Harris Corporation, American Technologies Network Corp., Rockwell Collins, Inc., FLIR Systems, Inc., BAE Systems plc, Bharat Electronics Limited, Thales Group, Elbit Systems Ltd. and Other Prominent Players. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the global military night vision device market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.