Night Vision Devices Market

Global Night Vision Devices Market Size (2023 to 2028)

The global night vision devices market size is expected to be worth 8.88 billion USD in 2023. It is expected to grow at a CAGR of 7.0% during the forecast period and reach a value of 12.45 billion USD by 2028.

Night vision devices are optoelectronic devices that enable the ability to see in dark or in low-intensity lights. The technology used is to detect low-intensity lights like ultraviolet, infrared, X-rays and gamma rays and amplify them to provide a clear image in the dark. The devices are used prominently in the military and defense sectors. Different components such as image intensifier tubes, photocathode, lens, and many more are used in Night Vision Devices.

The major factors driving the growth of the night vision devices market are the advantages offered by the devices, along with the availability of a large number of products. Moreover, new technological developments and advancements offer improved performance, improvised designs, and lower costs, which have further enhanced the growth prospects of the global night vision devices market. Apart from this, increased defense spending and security concerns are the other factors that are facilitating the market growth. Although there are a number of advantages of the products, the global night vision devices market also faces some challenges. The expensive devices, coupled with their limitations, are the major hindrances for these devices among consumers. Strict government rules and regulations for the usage and exports of these devices further hinder market growth. Intense competition is one of the major challenges faced by the market. With increased investments by the government in the R&D of night vision technology, the U.S. military has come into an MOU with BAE Systems for the development of this technology in night vision devices, which is about to create opportunities for the global night vision devices market growth.

REPORT COVERAGE:

This research report on the global night vision devices market has been segmented and sub-segmented into the following categories.

Night Vision Devices Market - By Type:

• Camera
• Scope
• Goggle

Based on Type, the scope segment has accounted for a larger share over others. The growth of this segment is attributed to their better performance over goggles. These scopes are mostly utilized as weapon sights despite that they are heavy and larger than glass. Moreover, the usage of these devices for navigation as well as scouting purposes, is fuelling the growth of this segment.

Because of their versatility during night operations, goggles are mostly used in the defense sector. Automotive manufacturers are also using these devices by integrating them into their vehicles for Advanced Driver Assistance Systems (ADAS). Therefore, the goggles segment is also estimated to grow significantly during the projection period.

Night Vision Devices Market - By Application:

• Military
• Surveillance
• Security
• Hunting
• Navigation
• Hidden Object Detection
• Paranormal Research

Based on Application, the defense segment is anticipated to grow in a significant way by 2025, owing to the notable rise in military activities at night and during conditions with poor visibility. The increasing military spending around the world also fuels the development of this sector.

Night Vision Devices Market - By Technology:

• Image Intensifiers
• Infrared Illumination
• Thermal Imaging

Based on Technology, thermal imaging is estimated to acquire a significant share of the market revenue, attributing to the wide range of usability that this technology offers. Thermal imaging is followed by the imaging intensifier segment and is expected to record a high CAGR during the forecast period.

Night Vision Devices Market - By Region:

• North America
• Europe
• Asia-Pacific
• Latin America
• Middle East and Africa

Based on the geography, North America is leading the global night vision devices market both in terms of value and volume. The situation of manufacturing centers of significant market leaders is the leading cause of North America’s dominance over the night vision devices market. The high potential in the Asia Pacific region for future opportunities is caused due to fast industrialization, growing security concerns, and increased demand for military equipment mainly in countries like India, Japan, and China.

KEY MARKET PLAYERS:

Companies that are playing a noteworthy role in the global night vision devices market are ABB Ltd, Siemens AG, Schneider Electric SE, Flir Systems, Kuka AG, Emerson Electronic Co, Fanuc Corporation, and American Technologies Network Corp.