Night Vision Device Market Forecasts to 2028 – Global Analysis By Device Type (Binoculars & Monocular, Goggles and Others), Component (Photo Cathode, Front Lens, Image Intensifier Tubes and Others), Technology, Application, End User and By Geography

Night Vision Device Market Forecasts to 2028 – Global Analysis By Device Type (Binoculars & Monocular, Goggles and Others), Component (Photo Cathode, Front Lens, Image Intensifier Tubes and Others), Technology, Application, End User and By Geography

According to Stratistics MRC, the Global Night Vision Device Market is accounted for $7.74 billion in 2022 and is expected to reach $13.95 billion by 2028 growing at a CAGR of 10.3% during the forecast period. The night vision equipment gives the soldiers colour visuals in the dim field conditions. Recent years have seen these devices grow in popularity among wildfire researchers as well, which is predicted to increase demand for such equipment. The demand has been fuelled by the technological and application viability, such as head-mounted night vision, combined with affordable price. With these gadgets, you can see well for more than 150 to 200 yards at night. are used more frequently in the military and defence sector.

According to SIPRI, the United States spent over USD 778 billion on its defense activities, followed by China, with USD 252 billion in 2020.

Market Dynamics:

Driver:

Growing use of near-infrared (NIR) imaging technology in NVDS for security and surveillance applications

One of the key advancements in night vision equipment is the use of near-infrared (NIR) imaging technology. In any weather, it enables soldiers to launch attacks and expose the victims' locations. The capacity of modern NIR sensors to recognise and follow motions happening in the shadows is a factor in their increasing acceptance. The market's leading companies are concentrating on releasing cutting-edge items to enhance the client experience.

Restraint:

High cost

Due to its versatility in a range of military and defence applications, the market is expanding quickly. The market development, however, is projected to be constrained by high production costs brought on by the usage of pricey third-generation technologies and unique materials, such as night vision optics. Because of the expensive expense of NVDs, particularly night vision goggles, their usage is now restricted to the military. Because of specific political difficulties, certain manufacturers are forced to maintain the high costs. This might hinder the market's adoption of NVDs like goggles and scopes.

Opportunity:

Increased spending on the military and defence

The military and defence sector are seeing a huge demand for NVDs as a result of the growth in terrorist activities, political unrest over border disputes, and security and safety concerns. To meet the growing need for night patrolling and combat activities, the military and the defence sector are embracing NVDs. Growing public spending on NVDs by nations like China, India, Germany, Russia, the US, and others is anticipated to increase market size throughout the anticipated period.

Threat:

Lack of technical expertise

Lack of skilled workers or technological know-how, particularly in developing and undeveloped nations, will further impede the market's development rate. Therefore, it is predicted that a major hurdle for the market for night vision devices throughout the projected period would be a lack of technical competence.

Covid-19 Impact

To deal with the COVID-19 epidemic, governments everywhere are creating strict monitoring systems. Organisations are also redesigning their business continuity strategies by investing in cutting-edge methods to combat the epidemic. Police are helped by drones equipped with night vision cameras to locate public gatherings without breaking social norms. The tool also aids in recognising those who are not wearing masks in public areas. For instance, the introduction of sophisticated drones equipped with night vision cameras to track public movement during the coronavirus pandemic was allowed by the Italian government and the Italian Civil Aviation Authority (ENAC).

The glasses segment is expected to be the largest during the forecast period

The glasses segment is estimated to have a lucrative growth, due to the glasses due to lower maintenance costs and the ability to reduce glare by scattering and filtering out harsh blue light. Additionally, the binoculars and monocular, cameras, and scopes segments are anticipated to expand at a significant CAGR between 2020 and 2027 due to rising demand for scopes, binoculars, cameras, and others, in applications such as border surveillance, medical monitoring, and others.

The medical segment is expected to have the highest CAGR during the forecast period

The medical segment is anticipated to witness the fastest CAGR growth during the forecast period, due to the increasing use of various equipments such thermal imagers, in the medical and healthcare sectors is what is driving this segment's growth. The thermal imager produces infrared pictures of the human body that are helpful for assessing blood flow, measuring muscle function, and spotting people with fever in a crowd. Additionally, the CAGR for other segments is predicted to increase significantly. This is primarily because there is an increase in demand for NVDs in the fields of engineering, fire and rescue, law enforcement, marine & coastal surveillance, and others.

Region with highest share:

North America is projected to hold the highest market share during the forecast period owing to the demand for night vision products is increasing globally, including in the US and Canada, as a result of increasing security breaches and rising reliance. The central governments of the US and Canada are choosing night vision technologies to give improved security measures across public applications.

Region with highest CAGR:

Asia Pacific is projected to have the highest CAGR over the forecast period, owing to the surge is a result of increased demand for location-based gadgets in public transit hubs including airports, train stations, and bus stops. Additionally, the region's increased military spending will increase demand for NVDs in a number of other businesses.

Key players in the market

Some of the key players profiled in the Night Vision Device Market include BAE System Plc, Teledyne Flir LLC, American Technologies Network Corp., L3harris Technologies Inc, Thales Group SA, Elbit Systems Deutschland, Raytheon Technologies Corporation, Satir, Firefield, Opgaloptronic Industries Ltd, Luna Optics Inc, Panasonic Corporation, Photonis Technologies Sas, Sharp Corporation, Tactical Night Vision Company, Tak Technologies Private Limited, Nivisys LLC and Excelitas Technologies Corp.

Key Developments:

In February 2019, Thermoteknix Systems Ltd. launched its advanced TiCAM 1000C Biocular Target Locator System at the Security & Policing security event 2019. It is a hand-held camera used for observation, surveillance, and security applications. It is also suitable for dark environments and poor weather conditions.

In February 2019, Thales Group announced the co-development of ELFIE night vision devices in collaboration with armed force manufacturer MKU ltd in India. ELFIE will offer easy mobility and night combat facility. The product can be used via helmet mounted or weapon mounted, it is suitable for left and right eyes.

Device Types Covered:
• Binoculars & Monocular
• Goggles
• Glasses
• Scopes
• Cameras

Components Covered:
• Photo Cathode
• Front Lens
• Image Intensifier Tubes
• High Voltage Power Supply
• Phosphor Screen
• Eyepiece
• Image Intensifier Tubes
• Other Components

Technologies Covered:
• Thermal Imaging Process
• Low Light Imaging Process
• Infrared Illumination

Applications Covered:
• Border surveillance
• Law Enforcement
• Engineering
• Maritime & Coastal surveillance
• Security
• Medical
• Fire & Rescue
• Other Applications

End Users Covered:
• Automotive
• Military
• Aerospace
• Defence
• Government

Regions Covered:
• North America
o US
o Canada
o Mexico
• Europe
o Germany
o UK
o Italy
o France
o Spain
o Rest of Europe
• Asia Pacific
o Japan
o China
o India
o Australia
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Argentina
o Brazil
o Chile
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o UAE
o Qatar
o South Africa
o Rest of Middle East & Africa

What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2020, 2021, 2022, 2025, and 2028
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements