Night Vision Devices Market Estimated to Exceed US$ 13.8 Billion Globally By 2027

Global Night Vision Devices Market Impelled by Widespread Product Utilization in Defense and Military Sectors

SHERIDAN, WYOMING, UNITED STATES, August 29, 2022 /EINPresswire.com/ — 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 device market reached a value of US$ 9.5 Billion in 2021. 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. On account of the aforementioned factors, the market is expected to reach a value of US$ 13.8 Billion by 2027, exhibiting a CAGR of 6.2% during 2022-2027.

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Competitive Landscape:

• FLIR Systems, Inc.
• L3Harris Technologies, Inc.
• Elbit Systems of America, LLC
• American Technologies Network Corporation

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.

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Key Market 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

About Us:

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