Global Night Vision Devices Market to Reach US$ 14.5 Billion by 2028, Impelled by Widespread Product Utilization in Defense and Military Sectors

August 08, 2022 | Technology & Media

According to the latest report by IMARC Group, titled “Night Vision Devices Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028," the global night vision devices market reached a value of US$ 10.2 Billion in 2022. Night vision devices (NVDs) are optoelectronic instruments designed to monitor objects in low light conditions. Generally consisting of cameras, scopes, and goggles, they are used in hunting, security, navigation, military, wildlife observation, and surveillance applications. NVDs are manufactured using an objective lens, image intensifier tube (IIT) screen, eyepieces, and power sources. These components assist in amplifying the gamma, infrared, and ultraviolet (UV) light to produce an accurate and user-friendly image in a dark environment. NVDs are cost-effective and offer high resolution and low-light sensitivity, due to which they are extensively used in aerial vehicles, ground defense, and marine containers.

Global Night Vision Devices Market Trends:

The widespread product utilization in defense and military sectors across the globe is one of the key factors driving the market growth. NVDs are widely used to navigate, observe, detect, and target intruders and trespassers. In line with this, the rising terrorist threats and unlawful activities have mandated safety and security screening at airports, railway stations, stadiums, border checkpoints, and other public areas, which is favoring the market growth. Additionally, the launch of drones enabled with night vision cameras to identify locations with huge public gatherings and monitor social distancing standards during the COVID-19 pandemic is acting as another growth-inducing factor. Apart from this, the integration of near-infrared technology in NVDs to aim at the target with greater accuracy and track motions in darkness is providing an impetus to the market growth. Besides this, the development of innovative product variants with enhanced designs, widespread product adoption by wildlife biologists and photographers, extensive research and development (R&D) activities, and the implementation of various government initiatives to upgrade weapons and devices to enhance the navigation, surveillance, and targeting capabilities are anticipated to drive the market toward growth. On account of the aforementioned factors, the market is expected to reach a value of US$ 14.5 Billion by 2028, exhibiting a CAGR of 5.9% during 2023-2028.

Market summary:

On the basis of the device, the market has been divided into goggles, cameras, scopes, and others. Currently, goggles represent the most popular night vision devices.
Based on technology, the market has been divided into image intensifier, thermal imaging, and infrared illumination. At present, image intensifier represents the largest segment.
On the basis of the end user, the market has been divided into military and civil segments. The military segment currently accounts for the majority of the total market share.
On a regional basis, the market is dominated by North America. Other major regions include, Asia Pacific, Europe, Latin America and Middle East and Africa.
The competitive landscape of the industry has also been examined, with some of the key players being FLIR Systems, Inc., L3Harris Technologies, Inc., Elbit Systems of America, LLC, and American Technologies Network Corporation.

Report Scope:

Report Features	Details
Base Year of the Analysis	2022
Historical Period	2017-2022
Forecast Period	2023-2028
Units	US$ Billion
Segment Coverage	Device, Technology, End User, Region
Region Covered	Europe, North America, Asia Pacific, Middle East and Africa, Latin America
Companies Covered	FLIR Systems, Inc, L3Harris Technologies, Inc, Elbit Systems of America, LLC and American Technologies Network Corporation
Customization Scope	10% Free Customization
Report Price and Purchase Option	Single User License: US$ 2499 Five User License: US$ 3499 Corporate License: US$ 4499
Post-Sale Analyst Support	10-12 Weeks
Delivery Format	PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request)

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Global Night Vision Devices Market to Reach US$ 14.5 Billion by 2028, Impelled by Widespread Product Utilization in Defense and Military Sectors

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