Future of Night Vision Device Market Along with Industry Size, Share, Trends, Major Manufactures and Regional Forecast 2024
Global Military Night Vision Device Market Research Report Covers Historical Market Trends, Current Market Dynamics, Market Valuation by Segmentation as Well as Region, Country-level Analysis for Every Segment, Key Player’s Market Share Analysis, Competitive Landscape and Supply Chain Analysis.
Pune , India – June 11, 2019 /MarketersMedia/ —
Night Vision Device Market Research Report 2019: Industry Size, Share, Trends, Growth and Opportunity Assessment, Regional Analysis and Segmentation By Device Type (Goggle, Camera, Scope), Technology (Image Intensifier, Thermal Imaging, Infrared Illumination), Application (Surveillance, Navigation, Targeting, and Others) and Region – Global Forecast to 2024
Military night vision devices give the armed forces a massive advantage over enemy combatants, allowing soldiers to conduct vital military operations in the peach dark hours when the opposing force is at its most vulnerable.
High uptake of electro-optical solutions, such as military night vision device that improves the accuracy of armed forces on the battlefield is the key driving force escalating the market on the global platform.
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Acknowledging the enormous growth that the market is witnessing currently, Market Research Future (MRFR) in recently published study analysis asserts that the global military night vision device market is poised to witness colossal growth, registering a staggering CAGR of 10.65 throughout the forecast period (2018-2024). Increase in defense expenditure focusing on border protection is a key driving force behind the growth of the market.
Significant investments transpired in the development of military night vision device would continue to drive the market over the review period. Also, the rising demand for inspections and monitoring technologies in the military operation is propelling the growth of the market, offering new opportunities to the market players.
With the advancements of technologies prices of military night vision device are dropping, dramatically, which in turn, is increasing the size of the military night vision device market, increasing the adoption of these devices. Increase in cross border operations led by the influx of immigrants and refugees are expected to increase the demand in the market during the forecast period.
Additionally, the initiatives taken to counter surgical attacks and to tackle cases of trespassing are expected to influence the growth of the market. Furthermore, advances in night vision technology along with the proliferation of its applications would favor the market.
Major Players
• L3 Technologies Inc. (US)
• Meopta Optica SRO (Czech Republic)
• Harris Corporation (US)
• Rockwell Collins Inc. (US)
• American Technologies Network Corp. (US)
• FLIR Systems Inc. (US)
• Bharat Electronics Limited (India)
• BAE Systems plc (UK)
• Thales Group (France)
• Elbit Systems Ltd. (Israel)
• others
Industry/ Innovation/ Related News
April 08, 2019 —- The US military announced that it is working on developing night vision goggles with augmented reality capabilities. Some of these AR features include a built-in compass and targeting system, signalling that the military’s ground troops are poised for a major high-tech upgrade.
The US military in collaboration with Microsoft Corporation is developing the Integrated Visual Augmentation System (IVAS), which can enhance soldiers’ capabilities in combat by giving them new ways to coordinate and communicate with each other. Also, the IVAS is built on a custom version of Microsoft’s HoloLens headset.
Market Segmentations
For an easy grasp, the market is segmented into four key dynamics;
By Device Type : Goggle, Camera, and Scope.
By Technology : Image Intensifier, Thermal Imaging, and Infrared Illumination among other technologies
By Application : Surveillance, Navigation, and Targeting among others.
By Regions : North America, Asia Pacific, Europe, and the Rest-of-the-World (RoW).
Regional Analysis
North America, heading with the presence of prominent manufacturers, would retain its dominance over the global military night vision device market throughout the forecast period. The region also has a vast number of R&D centers. Further, substantial technological advancements and their uptake led by the large defense budget drive the market growth in the region. The military night vision device market in the region is expected to grow at an impressive CAGR of 10.81% throughout the forecast period.
The US, supported by the presence of prominent manufacturers such as Rockwell Collins Inc. and Harris Corporation helming, leads the regional market. Besides, Canada’s contribution is also impacting the growth of the regional market, positively. The US has a robust military force, and the American government incorporates a large budget for modernization and upgrades of military equipment to strengthen the defense forces.
The military night vision device market in the European region takes the second position owing to the augmented demand from the aviation sector. The rise in demand for safety-enhancing equipment in the defense sector is a key driver for the growth of the regional market. The region demonstrates an augmented adoption of technologically advanced devices such as military night vision device, which can enhance the soldier’s ability to complete their missions successfully.
The region is heading with the constant advancements in warfare platforms. European countries such as Germany and the UK, backed by the enormous investments in the R&D activities to develop related technologies, drive the regional market, majorly.
Whereas, the third largest market for military night vision device, the Asia Pacific region is emerging as the fastest growing market, globally. Growing adoption of safety devices in the military sectors in the region would contribute to the growth of the regional market during the review period.
The rising number of cross-border conflicts in this region is a key driving force behind the growth of the market. Countries such as Vietnam, Taiwan, Malaysia, and the Philippines have been increasing their military spending over the past few years, to strengthen their defense sector against China in the conflict at the South China Sea. Also, India and South Korea have increased their defense budgets to implement advent technologies to counter the threats from their disruptive neighbors.
List of Tables
Table 1 Market Synopsis
Table 2 List of Assumptions
Table 3 Global Military Night Vision Device Market, by Device Type, 2017-2024 (Usd Million)
Table 4 Goggle: Military Night Vision Device Market, by Region, 2017-2024 (Usd Million)
Table 5 Camera: Military Night Vision Device Market, by Region, 2017-2024 (Usd Million)
Table 6 Scope: Military Night Vision Device Market, by Region, 2017-2024 (Usd Million)
Table 7 Global Military Night Vision Device Market, by Technology, 2017-2024 (Usd Million)
Continued……..
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