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Night Vision Device Market Research Report Size, Share, Industry Analysis by Device Type, By Region

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Night Vision Device Market

The Night Vision Device Market is projected to grow at significant CAGR over the forecast period (2020-2027).

The factors driving the growth of Night Vision Device Market includes increasing border conflicts, rise in the terrorism activities, growing security concerns and rising uncertainties in the current geopolitical scenario is pushing Government’s expenditure on defense around the world. According to the report published by Stockholm International Peace Research Institute, the Military Expenditures worldwide has first time in the history, surpassed USD 2 Trillion benchmark, Russia’s Military expenditure increased to 2.9% in 2021, to reach USD 65 billion. Moreover, the growing demand for advanced night vision devices, integration of wireless technologies, increasing application of night vision devices for law enforcement, medical and maritime & coastal surveillance, are some of the additional factors supplementing the Night Vision Device Market share. In addition, the increasing investment on research and development and Government Initiatives to boost the manufacturing of defense products and, are further augmenting the Night Vision Device Market size.

However, the growth of Night Vision Device Market is hindered due to high manufacturing cost of night vision devices.

The leading players operating in the market are L3 Technologies, Inc., Luna Optics, Elbit Systems, BAE Systems, Harris Corporation, Leonardo S.p.A, Safran Vectronix AG, Thales Group, FLIR Systems, Inc. and Raytheon Company among others.

Device Type – Segment Analysis

Based on device type, the scopes segment is predicted to capture the highest market share during the forecast period due to increasing application of scopes and binoculars by armed forces for border surveillance and security.

Application – Segment Analysis

Based on application, the border surveillance segment is expected to grow at a remarkable CAGR over the forecast period. The integration of Internet Protocol (IP) Technology and growing demand for IR Illuminator equipment and thermal imaging cameras by militaries across the globe, are some of the factors responsible for the growth of the segment.

Regional – Segment Analysis

Based on region, the North American region captured the largest market share during the forecast period due to high Military budget, deployment of advanced night vision devices and the presence of top defense manufacturers such as Lockheed Martin and Boeing

On the other hand, Asia-Pacific region, is predicted to grow at a higher CAGR over the forecast period due to increasing border conflicts and growing demand for night vision devices at railway stations, bus stations and airports.

Market Segmentation

Global Night Vision Devices Market by Device Type

• Binocular and Monocular

• Camera

• Goggles/Glasses

• Scopes

Global Night Vision Devices Market by Application

• Border Surveillance

• Law Enforcement

• Fire & Rescue

• Healthcare

• Others

Global Night Vision Devices Market by Region

• Asia Pacific

o China

o Japan

o India

o Rest of APAC

• North America

o United States of America

o Canada

• Europe

o United Kingdom

o Germany

o France

o Spain

o Rest of Europe

• RoW

o Brazil

o South Africa

o Saudi Arabia

o UAE

About GMI Research

GMI Research is a market research and consulting firm which provides market insights and intelligence across 12 major sectors helping our clients in making effective investment and business decisions.

Media Contact

Company Name: GMI RESEARCH

Contact Person: Sarah Nash

Email: enquiry@gmiresearch.com

Phone: Europe – +353 1 442 8820; US – +1 860 881 2270

Address: Dublin, Ireland

Website: https://www.gmiresearch.com/


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Night Vision Device Market Research Report Size, Share, Industry Analysis by Device Type, By Region

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Published on August 17, 2022

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