Night Vision Device Market Is Projected To Reach $10.05 Billion By 2025: Grand View Research, Inc.
The global night vision device market size is expected to reach USD 10.05 billion by 2025, according to a new report by Grand View Research, Inc. It is projected to register a CAGR of 8.1% during the forecast period. Increasing popularity of night vision devices for civil applications such as construction sites, camping, firefighting, and monitoring has notably benefitted the market in the past few years. In addition, increased use of advanced technologies such as imaging intensifier and thermal imaging in security and surveillance devices has stimulated the market growth in commercial sector.
Night vision devices are extensively used by military and paramilitary forces to locate enemy targets during night operations. In the civil sector, night vision device are often used by police forces and surveillance bodies. Also, large enterprises are increasingly installing mounted cameras enabled with night vision features to monitor their facilities.
From the national security point of view, activities such as border infiltration, breach of security, and illegal border trade have increased due to an alarming rise in terrorism across the globe. In such scenarios, night vision devices can help law enforcement personnel in detecting camouflaged humans in darkness, haze, or smoke. As a result, the adoption of night vision devices such as scopes and goggles is rising across the security forces.
Demand for night vision devices is expected to be on the rise over the over the forecast period owing to high usage by the defense forces. High-tech night vision devices result in great accuracy during combat and rescue missions. In addition, a high number of robberies occur during nights as compared to daytime. For instance, in U.S., the rate of robberies occurring at night has doubled in the past ten years. Therefore, law enforcement authorities have to be well equipped with spy gear to address a casualty at any moment, necessitating the use of night vision devices.
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Further key findings from the report suggest:
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In terms of type, the goggles segment is expected to expand at the highest CAGR of 9.2% over the forecast period owing to the increasing trend of night photography
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In terms of technology, the image intensifier technology segment is expected to lead the market over the forecast period owing to the increasing use of the technology in diagnostics systems in the healthcare sector for providing better visibility
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The wildlife spotting application segment is projected to register the highest CAGR over the next six years as these devices help detect animal activity sometimes nearly invisible to the naked eye
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In Asia Pacific, the constant technology upgrades, as well as a notable increase in the use of military night vision devices in anti-tank missile guidance systems, will boost the market growth
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Manufacturers emphasis on integrating night vision devices with Infrared solid-state imaging sensors is expected to be a major driver for market growth in near future
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Some of the key players operating in the night vision device market includes American Technologies Network Corporation; Harris Corporation; FLIR Systems, Inc.; Raytheon Company; Yukon Advanced Optics Worldwide; Bushnell; Firefield; Apresys, Inc.; Luna Optics; and L3 Technologies, Inc.
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Table of Contents
Chapter 1 Methodology and Scope
1.1 Research Methodology
1.2 Research Scope and Assumptions
1.3 List of Data Sources
Chapter 2 Executive Summary
2.1 Night Vision Device Market – Industry Snapshot & Key Buying Criteria, 2014 – 2025
2.2 Night Vision Device Market, 2014 – 2025
2.2.1 Night vision device market, by region, 2014 – 2025
2.2.2 Night vision device market, by type, 2014 – 2025
2.2.3 Night vision device market, by technology, 2014 – 2025
2.2.4 Night vision device market, by application, 2014 – 2025
Chapter 3 Night Vision Device Industry Outlook
3.1 Market Segmentation and Scope
3.2 Market Size and Growth Prospects
3.3 Night Vision Device Market – Value Chain Analysis
3.3.1 Vendor landscape
3.4 Night Vision Device Market Dynamics
3.4.1 Market driver analysis
3.4.1.1 Increasing military expenditure
3.4.1.2 Increasing adoption from law enforcement agencies
3.4.2. Market restraint analysis
3.4.2.1 High costs associated with maintenance
3.5 Penetration and Growth Prospect Mapping
3.6 Night Vision Device Market – Porter’s Five Forces Analysis
3.7 Night Vision Device Market – Company Ranking, 2018
3.8 Night Vision Device Market – PESTEL Analysis
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About Grand View Research
Grand View Research provides syndicated as well as customized research reports and consulting services on 46 industries across 25 major countries worldwide. This U.S.-based market research and consulting company is registered in California and headquartered in San Francisco. Comprising over 425 analysts and consultants, the company adds 1200+ market research reports to its extensive database each year. Supported by an interactive market intelligence platform, the team at Grand View Research guides Fortune 500 companies and prominent academic institutes in comprehending the global and regional business environment and carefully identifying future opportunities.
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