According to the latest report by IMARC Group, titled “Night Vision Devices Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027”, The global night vision devices market size reached a value of US$ 9.5 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 13.8 Billion by 2027, exhibiting a CAGR of 6.2% during 2022-2027. Night vision devices (NVDs), also referred to as night observation devices (NOD), are optronic equipment that assist in enhancing the vision at night or low light. It includes monocular, binocular, goggles, and rifle scopes, which are intelligent, durable, lightweight, compact and high performance. NVDs utilize infrared light reflected from the moon to convert it to visible images. Apart from this, these devices are used for border surveillance, engineering, fire and rescue, medical, coastal surveillance, and others.
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Competitive Landscape:
- FLIR Systems, Inc.
- L3Harris Technologies, Inc.
- Elbit Systems of America, LLC
- American Technologies Network Corporation
Global Market Trends:
The global market is primarily driven by the widespread product adoption for navigation, surveillance, and targeting. Furthermore, the increasing utilization of the product in the military and defense sector due to the rising terrorist threats and unlawful activities is positively influencing the market growth. Apart from this, heavy investments by leading players to develop NVDs with high operational efficacies and improved properties are significantly contributing to the market growth. Additionally, the increasing expenditure by the governments of several countries in research and development (R&D) to upgrade the night vision technology is also positively stimulating the market growth.
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Night Vision Devices Market 2022-2027 Analysis and Segmentation:
Breakup by Device:
- Goggles
- Cameras
- Scopes
- Others
Breakup by Technology:
- Image Intensifier
- Thermal Imaging
- Infrared Illumination
Breakup by End User:
- Military Segment
- Civil Segment
Breakup by Region:
- North America (United States, Canada)
- Europe (Germany, France, United Kingdom, Italy, Spain, Others)
- Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Other
Key Highlights of the Report:
- Market Performance 2016-2021
- Market Outlook 2022-2027
- Porter’s Five Forces Analysis
- Market Drivers and Success Factors
- SWOT Analysis
- Value Chain
- Comprehensive Mapping of the Competitive Landscape
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