DUBLIN, July 12, 2023 /PRNewswire/ — The “Global Night Vision Device Market Size, Segments, Outlook, and Revenue Forecast 2022-2028 by Device Type, by Technology, by Application, and by Regions” report has been added to ResearchAndMarkets.com’s offering.
The Global Night Vision Device Market is projected to experience a positive compound annual growth rate (CAGR) of approximately 9% during the forecast period from 2022 to 2028, reaching a market size of around US$14 billion by 2028.
The market growth is attributed to the increasing government spending on military modernization, advancements in night vision device technologies, and the growing range of applications in civil and defense-related security.
The rising number of terrorist attacks worldwide each year has led governments to prioritize and invest more in security services to protect their citizens, driving the growth of the night vision device market. According to the Global Terrorism Index 2022 data, there were 5,226 terrorist attacks globally in 2021, representing a 17% increase from 2020.
The availability of a variety of night vision devices such as goggles, monoculars, binoculars, cameras, and scopes provides potential customers with options to purchase products based on their specific requirements, driving market growth. Leading players in the market, such as Thales, have achieved significant sales, with Thales selling over 70,000 units of its Lucie night vision goggles since their launch in 1995.
However, the high costs associated with night vision devices pose a challenge to market growth. For example, the night vision multipurpose monocular device offered by a major player like American Technologies Network Corp. can range from approximately US$4,000 to US$5,000.
The COVID-19 pandemic had a positive influence on the growth of the night vision device market as authorities used thermal imaging techniques to monitor individuals’ body temperatures and detect COVID-19 symptoms, ensuring a safe distance between operators and individuals entering military facilities.
Scope of the Report:
The Night Vision Device Market is segmented by:
- Device Type (Goggles, Monocular & Binoculars, Camera, Glasses, Scopes, Others)
- Technology (Thermal Imaging, Image Intensifier, Infrared Illumination, Others)
- Application (Military & Defense, Wildlife Spotting & Conservation, Surveillance, Targeting, Navigation, Others)
- Region (North America, Europe, Asia-Pacific, LAMEA)
Major Companies Profiled in the Report:
- L3 Technologies Inc
- American Technologies Network Corp
- BAE Systems PLC
- Thales Group SA
- SATIR
- Elbit Systems Ltd
- Teledyne FLIR LLC
- Collins Aerospace
- Meopta
- Excelitas Technologies Corp
- Safran
- Blink
- Reolink
- Nightfox Night Vision
- Sigweis
- Rexing Inc
- Bushnell
- SOLOMARK
- Tonbo Imaging
- Tactical Night Vision Company, Inc
- Night Vision Devices Inc
For more information about this report visit https://www.researchandmarkets.com/r/8uwtx0
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