Research Insights on U.S. Night Vision Device Market Size and Forecast to 2025
Posted by Marketoverview on December 13th, 2018
14 December 2018, The U.S. Night Vision Equipment Market size is expected to be worth USD 4.39 billion by 2025. Surging demand for night vision devices from the military sector is one of the key trends escalating market growth. The tremendous growth of the military sector is projected to drive the market over the future period. Basically, they are used for detecting objects over long distances and in high-speed imagining in military operations.
NVDs (Night Vision Devices) are used in broad number of applications including surveillance, security, military, hidden object detection, hunting, paranormal research, navigation, and others. Use of electronic and optics devices dates back to world wars. Before the introduction of NVDs, substrate night wafer cameras and thermal imagining equipment were used. Owing to technological advancements in the electronics and optics industry, NVDs were introduced. Sooner after their introduction, the market for NVDs gained significant traction owing to cost-effectiveness and wide category of features it offers when compared to other technologies existing in the market.
High manufacturing cost is anticipated to hamper market growth over the next coming years. Though, factors such as increasing need for technologically-advanced devices, rising technological advancements in the area of electronics and optics, and rising expenditure of military sector on modernization are expected to be the key growth stimulants of the market. U.S. held the largest share in the global market for night vision devices on account of high rate of deployment of these equipment in different sectors. Rapid upgradation and advancements in technology along with domicile of a raft of industry participants are impelling development of the market in the country.
A major difference between old and modern devices is emergence of image intensifying and thermal imagining. Image intensifying technologies needs greater amount of light than thermal imagining devices to produce illuminated image of environment by absorbing available light. In divergence, thermal imagining systems and other modern night vision systems do not need light as they show an image with better clarity by detecting nearby IR radiations that are produced by objects in the environment. NVDs and thermal imaging devices convert invisible radiations to visible spectrum on display.
The U.S. night vision device market is segmented into infrared systems and light amplification systems on the basis of equipment type. NVDs include night vision googles, cameras, monocular, binoculars, scopes, and other devices. The industry is expected to record tremendous growth owing to wide application scope of NVDs in military, surveillance, and security for detection of hidden object, hunting, paranormal research, navigation finding, and other applications.
A large number of companies are operating in the industry. Some of the key players are Harris Corporation; ASU, Inc.; Ball Aerospace; Leonardo DRS; and General Dynamics Mission Systems, Inc. Companies are undergoing several mergers and acquisitions in order to enhance production capacity of their existing manufacturing units. Robust growth of the military sector and rising expenditure of the government in modernizing and purchasing advanced equipment are unfolding ample of growth opportunities for the market in U.S.
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