Night Vision Device Market ? Pipes the Growth due to FLIR Systems, Inc., Harris

Posted by RASHMI on April 3rd, 2019

The night vision technology was originally developed for military use only. The technology has provided numerous advantages to different military organizations. A night vision device (NVD) is an optical device that allows images to be created in levels of light approaching total darkness. Introduction of new sensors and devices for target acquisition and night seeing has increased capability of the armies in terms of continuous operations extending throughout day and night. Individual soldiers differ greatly in their ability to detect and see their targets while using different night vision devices.

Across the globe, military, law enforcement, and security persons are likely to benefit greatly from use of the sensor fusion technology in night vision devices. Thus, the demand for night vision devices is rising at a rapid pace. However, as applications in commercial markets continue to advance, the demand is estimated to increase further in the near future. The global night vision device market is estimated to reach value of US$ 14,861.2 Mn by 2026 from US$ 6,964.8 Mn in 2017, expanding at a CAGR of 8.9% during the forecast period.

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The global night vision device market has been broadly segmented in terms of type, technology, application, and geography. Based on type, the market has been segregated into vehicle use and personal use. The personal use segment has been sub-segmented into scopes, googles (bi-ocular & monocular), cameras, and others. Among types, the personal use segment accounted for a major share of more than 80.0%, in terms of revenue and volume, in 2017.