Trending News: Night Vision Device Market To Reach USD 12.0 Billion By 2027 | CAGR 7.4% — Forencis Research
Global NIGHT VISION DEVICE Market: Key Highlights
- According to the new market research report “Night Vision Device Market by Technology (Thermal Imaging, Image Intensifiers, Infrared Illumination, Others), by Product (Cameras (Infrared, Low-Light, Thermal, Hand-held Thermal, Thermal Vision), Goggles, Scopes, Others), by Application (Military & Defense, Law Enforcement, Hunting, Wildlife Observation, Security & Surveillance, Navigation, Hidden Object Detection, Engineering, Fire & Rescue Operations, Others) by Region (North America, Asia-Pacific, Europe, Middle East & Africa, South America) — Global Forecast (2019 to 2027)”, the global night vision device market is estimated to reach USD 12.0 Billion by 2027 at a CAGR of around 7.4% during the review period
- Basic path of an electron in night vision technology is as follows:
In every night vision device, electrons and photons are detected and amplified using various components works in synchronous behavior such as the human eye.
- Every night vision device is a combination of various devices that works on different technologies. With the rise in events such as trespassing, border security control, terrorist attacks, and counteractions, night vision devices are highly used in defense. For civilians, the night vision devices are used for camping, search, homeland security, and rescue.
Global Night Vision Device Market: Key Market Dynamics
- Increasing research & development expenditure on night vision technology and Increasing military & defense industry drive the night vision device market during the forecast period
- The high cost of night vision devices due to the use of third generation technology and the presence of rain, fog, and smog is anticipated to hamper the market during the upcoming years.
- Demand for preventive maintenance in plants and energy distribution units will become an opportunity for the night vision device market during the forecast period
Global Night Vision Device Market: Regional Overview
- North America
North America is expected to hold the largest market share during the forecast period due to the early adoption of new technologies, and government initiatives regarding the defense industry. The US is expected to dominate the market in the night vision device market by technologically and numerically. The presence of a large number of vendors such as FLIR Systems, Raytheon Company, and ATN Corp. is also fueling the market growth in North America. US foreign military sales (FMS) is expected to boost the export opportunities for defense contractors in the US. The US is also increasing its investment in research and development of defense accessories and material and hence North America is expected to dominate the night vision devices market during the forecast period.
Asia-Pacific is anticipated to grow at a faster rate during the forecast period. Asia-Pacific region is expected to hold a one-third part of active-dutyy military personnel. Increasing terrorism, terrorist attacks, government initiatives regarding homeland security and defense are expected to boost the night vision devices market in the Asia-Pacific region. China, India, Singapore, and South Korea are concentrating on expanding defense budget for increasing homeland security, border security and control operations, and many other security-related applications.
Global Night Vision Device Market: Key Players Overview
- FLIR Systems, Inc.:
FLIR Systems develops, designs, manufactures and distributes various technologies that enhance awareness and perception. The company offers a diversified portfolio that serves a number of applications in industrial, and commercial applications, and government & defense. The company provides night vision goggles, binoculars, and monoculars for various military & defense applications. In September 2019, FLIR Systems partnered with SIG SAUER academy to support law enforcement and military professionals to enhance their safety and capabilities with night vision and thermal imagining equipment for critical situations.
- BAE Systems:
BAE Systems engages in the provision of products and services for land, air, and naval forces, security, information technology solutions & support services, and advanced electronics. The company operates through five electronic systems, cyber and intelligence, platforms and services, air, and maritime. In 2018, BAE Systems partnered with US Army to provide night vision goggles and thermal weapon sights worth of USD 97 million. This partnership enables soldiers to rapidly and covertly captures the targets in all lighting and weather conditions. Moreover, these goggles allow soldiers to quickly detect and engage targets for a tactical edge.
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