Night Vision Devices Market is anticipated to hit .6 billion by 2023
Posted by Lohitha on August 13th, 2019
According to the new market research report by IndustryARC titled “Night Vision Devices Market: By Type (Scopes, Goggles, Cameras, Others); By Components (Image Intensifier Tubes, Micro Channel Plates, Eyepiece, Others); By Application (Military, Security, Surveillance, Paranormal Research); By Geography - (2014-2020)”, the market is driven by the incessant developments and initiatives to further strengthen the NVD market.
View Full Table Of Contents Of Night Vision Devices Market:
Americas held the largest market share in the Night Vision Devices Market
Americas region holds the largest market share and growth in the Night Vision Devices Market, and is anticipated to reach .9 billion by 2023 at a CAGR of 12.4%. However, APAC witnesses highest growth during the forecast period and is expected to reach .5 billion by 2023 at a CAGR of 14.7%. The use of Night Vision Devices has seen an upsurge in this region due to the increased focus on public security and surveillance. The demand scenario for these devices is going to remain positive in this region as the government institutions continue to focus on national security. The key applications in this region include Military, Hidden-Object Detection, and Navigation among wireline completion, Recovery, and others.
Selected Value Chain Analysis done in the full report
The product life cycle analysis for night vision devices consists of four significant stages, namely manufacturing, certification & testing, distribution, end-user and recycling. The night vision devices pass through each stage during its life-cycle.
In its first stage, the desired night vision device will be created and is simulated in the R&D of either a manufacturer or academic universities/ research institutes, through the fabrication of a prototype. The prototype is subjected to several developing and testing phases before the specifications for commercial product are finalized. On successful completion of the product in the R&D stage, specifications for the final product are dispatched to the manufacturing units. In this stage, basic hardware architecture for night vision device is framed in which the electronic components will be further assembled. The Night Vision Devices before being delegated to certification authorities are extensively tested to reject the defective pieces. The certification authorities perform several qualifying tests as per the standard regulations, post which, they are sent to distributors for supplying the devices to the end-users globally, through a comprehensive network of distribution networks. The life cycle of the devices is highly dependent on the end- users’ behavior and the frequency with which these devices are launched. Once the devices are utilized by end-users, they are directed towards disposing phases where the device is thoroughly inspected to recover any valuable component and material.
Excerpts on Market Growth Factors
The Night Vision Device Market is currently in the growth stage and is slowly shifting towards the mature stage.
The growth for Night Vision Devices is seen due to increased adoption in the commercial market, especially in the security and surveillance segments.
Also, the enhanced security measures by government for domestic security and increasing adaptation of modern military equipment by armies across the world to stop terrorism and mitigate intruding efforts of the insurgents.
Night Vision Goggles are forecast to remain the leading market through 2020 to reach .3 billion at a CAGR of 6.3%.
The Night Vision Camera Market is projected to exhibit the highest revenue growth from .7 billion in 2014 to reach billion through 2020.
Night vision scope market is estimated to display the highest growth rate of 11% CAGR through 2020 to reach .6 billion. The reduction in price will result in significant adoption in the military and hunting markets.
As UAVs (Unmanned Aerial Vehicles) continue to displace the humans on battlefields, the demand for NVDs will witness a constricted growth.
The large focus on price reduction, or offering improved capabilities at a similar price has resulted in a growing market.
Adoption rates for night vision devices are growing, especially in the commercial market, due to growth of the security and surveillance markets.
Night Vision Cameras will have highest demand in regions like Americas and APAC, due to increased use of night vision devices in applications such as military and security in these regions.
Phosphor screens, being one of the major components of night vision devices, will be the second largest growing components with respect to market revenue by 2020 with a CAGR of 11.0%.
The global night vision device market for hidden object detection is projected to grow to .9 billion by 2020 at a CAGR of 8.4%. The growing night vision device market in the APAC region is set to propel this segment.
The decline in price as well as growing applications for hidden object detection night devices are set to play a major part in the growth of the market.
The market for night vision devices in Europe is forecast to grow at a CAGR of 6% and reach ,484 million by 2020.
The market for RoW geographical segment is forecast to grow at a CAGR of 3.1% and reach 0 million by 2020.
The fastest growing market for night vision devices in the Americas region is Mexico. The market volume for Mexico is forecast to grow at a CAGR of 14.9% and reach 370 thousand units by 2020.
Key players of Night Vision Devices Market:
The top five companies in the Night Vision device market include FLIR Systems, Inc. (U.S), American Technologies Network Corp. (U.S), L-3 Warriors System, Inc. (U.S), Exelis Inc. (U.S) and Raytheon Corporation (U.S). Though these companies have a dominant position in the market, there are a few companies such as SAT Infrared Technology (China), Finmeccanica (Italy) and Northrop Grumman (U.S) providing stiff competition to the top players with their innovative product designs and focusing on growing markets.
FLIR has a wide range of products including night vision cameras, scopes and goggles for security, surveillance, transport and military applications. FLIR’s Scout series of Thermal night vision cameras is a prevailing product in the market.
American Technologies Network Corp. hasIndustryARC a wide product portfolio including night vision monoculars, binoculars, multi-purpose systems, scopes and day/night systems. Their Night Arrow Series of multi-purpose night vision devices with improved image quality has found high adoption in military, hidden object identification and security markets.
Exelis manufactures various products including night vision goggles, binoculars and cameras. This company is primarily focused on the homeland security, surveillance and military markets and has launched products including i-Aware Tactical Mobility Night Vision Goggle Fusion, Aviator's Helmet Mount Assembly, Night Enforcer PVS-14 and AN/AVS 6 Aviators Night Vision Systems.
IndustryARC is a research and consulting firm that publishes more than 500 reports annually in various industries, such as Agriculture, Automotive, Automation & Instrumentation, Chemicals and Materials, Energy and Power, Electronics, Food & Beverages, Information Technology, Life sciences & Healthcare.
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