Overview and Scope
Night vision devices are electronic optical instruments that amplify and enhance low-light and nighttime visibility, allowing users to see in the dark. They are commonly used in military, law enforcement, and civilian applications for surveillance, navigation, and security purposes.
Sizing and Forecast
The night vision devices market size has grown strongly in recent years. It will grow from $8.02 billion in 2023 to $8.8 billion in 2024 at a compound annual growth rate (CAGR) of 9.7%. The growth in the historic period can be attributed to adoption in recreational and outdoor activities, innovations in image quality, cost reduction and commercialization, development of compact devices, rise in law enforcement usage..
The night vision devices market size is expected to see strong growth in the next few years. It will grow to $12.25 billion in 2028 at a compound annual growth rate (CAGR) of 8.6%. The growth in the forecast period can be attributed to integration of ai and machine learning, shift towards energy-efficient solutions, focus on lightweight and ergonomic designs, increasing demand for digital night vision, enhancements in range and detection capabilities.. Major trends in the forecast period include miniaturization and portability, advancements in image quality, integration of thermal imaging, enhanced connectivity features, rise in digital night vision..
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Segmentation & Regional Insights
The night vision devices market covered in this report is segmented –
1) By Device: Goggles, Monocular And Binoculars, Camera, Glasses, Scopes, Other Devices
2) By Technology: Thermal Imaging, Image Intensifier, Infrared Illumination, Other Technologies
3) By Application: Military And Defense, Wildlife Spotting And Conservation, Surveillance, Targeting, Navigation, Other Applications
North America was the largest region in the night vision devices market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the night vision devices market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
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Major Driver Impacting Market Growth
Rising military and defense sectors are expected to propel the growth of the night vision devices market going forward. The military sector encompasses organizations and activities related to the armed forces and national defense, while the defense sector specifically refers to industries and companies involved in producing military equipment and technology. Night vision devices in the military and defense sectors enhance nighttime visibility, aiding in covert operations, surveillance, and target acquisition while ensuring operational effectiveness in low-light conditions. For instance, in April 2023, according to the Stockholm International Peace Research Institute, a Sweden-based independent international institute dedicated to research into conflict, armaments, arms control, and disarmament, total global military expenditure increased by 3.7% in real terms in 2022 to a record high of $2,240 billion. In 2022, Russian military spending is projected to increase by 9.2%, or $86.4 billion. Moreover, the overall military expenditure in Asia and Oceania was $575 billion, an increase of 2.7% compared to 2021. Therefore, the rising military and defense sectors will drive the growth of the night vision devices market.
Key Industry Players
Major companies operating in the night vision devices market report are RTX Corporation, BAE Systems PLC, Sharp Corporation, Safran Vectronix AG, Thales Group SA, Leonardo S.p.A., Elbit Systems Ltd., Teledyne Technologies Incorporated, Vista Outdoor Inc., Aselsan A.Ş., Excelitas Technologies Corp., Zhejiang Dali Technology Co. Ltd., Sellmark Corporation, B.E. Meyers & Co., Kopin Corporation, Meopta – optika s.r.o., American Technologies Network Corp., Newcon International Ltd., Steiner Optics GmbH, Adams Industries Inc., Opgal Optronic Industries Ltd., Nivisys LLC, Bering Optics LLC, Luna Optics Inc., N-Vision Optics LLC, Tactical Night Vision Company, Yukon Advanced Optics Worldwide, American Holoptics Inc., Tak Technologies Private Limited, Xenonics Holdings Inc.
The night vision devices market report table of contents includes:
1. Executive Summary
2. Night Vision Devices Market Characteristics
3. Night Vision Devices Market Trends And Strategies
4. Night Vision Devices Market – Macro Economic Scenario
5. Global Night Vision Devices Market Size and Growth
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32. Global Night Vision Devices Market Competitive Benchmarking
33. Global Night Vision Devices Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Night Vision Devices Market
35. Night Vision Devices Market Future Outlook and Potential Analysis
36. Appendix
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