Image Intensifier Tube Market 2019 by Revenue Analysis, Growth, Opportunities,
Posted by mandar on December 18th, 2019
Global Image Intensifier Tube Market is projected to grow at a CAGR of 7.91% during 2018 to 2023 and reach a valuation of USD 1,213.40 Mn.
The application of image intensifier tubes has continued to grow over the years. They are an advanced lighting technology that facilitates visual imaging in low light condition. Large scale sectors such as military, healthcare & biotech, electronics and semiconductors present considerable application opportunities to image intensifier tubes.
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At present, the military sector is making a major contribution to the growth of the global image intensifier tube market. There is strong demand for military grade image intensifier tube. Given the rising defence budget in APAC and Oceania countries, the demand for such product is expected to rise further in the years to come. According to Stockholm International Peace Research Institute (SIPRI), total world military expenditure rose to 39 Bn in 2017, a marginal increase of 1.1 per cent in real terms from 2016.
Global Image Intensifier Tube Market: Segmental Analysis
The report includes a thorough segmental analysis of the market based on generation, phosphor type, end user and region.
On the basis of generation, the market has been segmented into generation I, generation II, and generation III. In 2018, the generation II segment accounted for 58.65% share of the market in terms of value. During the forecast period, the segment is expected to grow at CAGR of 7.35%. Second-generation tubes have become extremely common and are the preferred generation of image intensifier tube owing to their superior features as compared to the older generation and cost viability over the third-generation variants. They are used in night vision devices such as handheld nonocular, goggle and binocular configurations. Based on phosphor type, the market has been segmented into white phosphor and green phosphor. The green phosphor segment accounted for 64.63% market share in 2018, with a market valuation of USD 535.92 Mn. It is projected that the segment will expand at a CAGR of 7.74% during the projection period. As green is a highly visible colour to the human eye, most night vision devices have phosphor green as the colour of the screen. However, green phosphor is likely to be placed by white phosphor in the future. On the basis of end user, the market has been segmented into military, healthcare and biotech, electronics and semiconductors and others. In terms of value, the military segment accounted for 71.74% market share in 2018 and is projected to grow at 8.51% CAGR during the forecast period. Meanwhile, the electronics & semiconductor segment accounts for the second largest market share and is expected to remain highly attractive over the next couple of years.
In October 2017, Harris Corporation introduce 3rd generation night Vision Weapon Sight for military purpose. It includes the latest high-performance Harris Gen 3-night vision image intensification.
Photek recently achieved certification to ISO 14001:2015 for its UK operations and scope.
In June 2018, Photonics launched two high resolution 2 and 4mpx EBCMOS to its current portfolio.
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Global Image Intensifier Tube Market: Regional Outlook
On the basis of region, the market has been segmented into North America, Europe, and rest of the world (RoW). North America led by the U.S is the largest market for image intensifier tube. In 2018, North America accounted for 67.32% market share in terms of value. Presence of prominent players such as Harris Corporation (US) and L3 Technologies (US) in the region is viewed as a positive attribute for the market in the region. Moreover, the region’s massive defense sector plays an important role in driving the market growth. Europe holds the second position in the global image intensifier tube market in terms of value. In 2018, the region accounted for 27.93% market share and is expected to capture a CAGR of 6.93% during the forecast period.
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About the Authormandar
Joined: February 18th, 2019
Articles Posted: 99
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