PUBLISHER: 360iResearch | PRODUCT CODE: 1496738
PUBLISHER: 360iResearch | PRODUCT CODE: 1496738
[195 Pages Report] The Night Vision Device Market size was estimated at USD 9.63 billion in 2023 and expected to reach USD 10.53 billion in 2024, at a CAGR 9.74% to reach USD 18.47 billion by 2030.
Night vision devices are highly advanced optical instruments that permit the observer to view objects and surrounding environments in low-light conditions or under complete darkness. These devices employ a combination of an image intensifier, a protective and generally water-resistant housing, and an optical system to enhance visibility during nighttime or otherwise dark conditions. Increasing defense expenditure by countries worldwide on advanced surveillance & communication technologies, a growing need for enhanced situational awareness in combat scenarios, and a rising focus on ensuring public safety through effective law enforcement measures are increasing the deployment of night vision devices across the end-use sectors globally. However, the high cost of manufacturing & maintenance of night vision devices may adversely impact their use by the end-use sectors. Moreover, continuous advancements in infrared technology resulting in improved performance characteristics such as better resolution & increased detection ranges are expected to encourage the deployment of night vision devices across the end-use verticals globally.
KEY MARKET STATISTICS | |
---|---|
Base Year [2023] | USD 9.63 billion |
Estimated Year [2024] | USD 10.53 billion |
Forecast Year [2030] | USD 18.47 billion |
CAGR (%) | 9.74% |
Regional Insights
The night vision device (NVD) market is evolving in the Americas owing to its robust defense sector and extensive investments in research and development. European Union countries have demonstrated a strong interest in NVD technology with an increased emphasis on border security and enhancing situational awareness through next-generation night vision capabilities. Ongoing regional conflicts that necessitate enhanced surveillance capabilities are accelerating the deployment of night vision devices in the EMEA region. In the Asia-Pacific region, strong R&D efforts, increased defense spending, and upgrading surveillance systems with advanced night vision capabilities are encouraging the use of the night vision device market in the region. In addition, the incorporation of innovative materials and integration of breakthrough technologies in night vision devices are anticipated to propel the adoption of night vision devices worldwide.
Market Insights
The market dynamics represent an ever-changing landscape of the Night Vision Device Market by providing actionable insights into factors, including supply and demand levels. Accounting for these factors helps design strategies, make investments, and formulate developments to capitalize on future opportunities. In addition, these factors assist in avoiding potential pitfalls related to political, geographical, technical, social, and economic conditions, highlighting consumer behaviors and influencing manufacturing costs and purchasing decisions.
FPNV Positioning Matrix
The FPNV positioning matrix is essential in evaluating the market positioning of the vendors in the Night Vision Device Market. This matrix offers a comprehensive assessment of vendors, examining critical metrics related to business strategy and product satisfaction. This in-depth assessment empowers users to make well-informed decisions aligned with their requirements. Based on the evaluation, the vendors are then categorized into four distinct quadrants representing varying levels of success, namely Forefront (F), Pathfinder (P), Niche (N), or Vital (V).
Market Share Analysis
The market share analysis is a comprehensive tool that provides an insightful and in-depth assessment of the current state of vendors in the Night Vision Device Market. By meticulously comparing and analyzing vendor contributions, companies are offered a greater understanding of their performance and the challenges they face when competing for market share. These contributions include overall revenue, customer base, and other vital metrics. Additionally, this analysis provides valuable insights into the competitive nature of the sector, including factors such as accumulation, fragmentation dominance, and amalgamation traits observed over the base year period studied. With these illustrative details, vendors can make more informed decisions and devise effective strategies to gain a competitive edge in the market.
Recent Developments
Guide Sensmart Brings New Product TD631 LRF to Internationale Jagd- und Schutzentage 2023
Sensmart introduces its new product, the TD631 LRF Night Vision Device, at Internationale Jagd & Schutzentage 2023. The TD631 LRF Night Vision Device is an innovative offering from Sensmart, designed to provide exceptional performance for night vision applications. With its 6x binocular magnification lightweight and ergonomic design, this device offers optimal comfort and ease of use. [Published On: 2023-10-22]
Rheinmetall Has Received A Contract From Ukraine
Rheinmetall has secured an order under the contract from the Ukrainian military for a series of automated reconnaissance systems, which encompasses night vision devices. This contract is a testament to Ukraine's dedication to bolstering its security infrastructure. Rheinmetall takes great pride in being selected as a trusted supplier of cutting-edge defense technology for this significant project. [Published On: 2023-10-05]
Thermoteknix Unveils New Fused Thermal Night Vision Binocular with Augmented Reality
Thermoteknix has introduced a cutting-edge Fused Thermal Night Vision Binocular (FTNVB) with an augmented reality capability. The FTNVB integrates thermal imaging and image intensification technologies, enhancing situational awareness in low-light environments. With augmented reality features, including target recognition, overlays, alerts, and navigation support, the FTNVB provides advanced functionality. [Published On: 2023-09-14]
Strategy Analysis & Recommendation
The strategic analysis is essential for organizations seeking a solid foothold in the global marketplace. Companies are better positioned to make informed decisions that align with their long-term aspirations by thoroughly evaluating their current standing in the Night Vision Device Market. This critical assessment involves a thorough analysis of the organization's resources, capabilities, and overall performance to identify its core strengths and areas for improvement.
Key Company Profiles
The report delves into recent significant developments in the Night Vision Device Market, highlighting leading vendors and their innovative profiles. These include AGM Global Vision, LLC, American Outdoor Brands, Inc., American Technologies Network Corporation, ANVS Inc., B.E. Meyers & Co., Inc., BAE Systems PLC, Bharat Electronics Limited, Elbit Systems Ltd., Excelitas Technologies Corp., Fenn Night Vision Limited, Fluke Corporation, General Starlight Company Inc., Global Tele Communications, Hangzhou View Sheen Technology Co., Ltd., Intevac, Inc., IRay Technology Co., Ltd., L3Harris Technologies, Inc., Leonardo S.p.A., LightPath Technologies, Inc., Lockheed Martin Corporation, MKU LIMITED, Newcon International Ltd, Night Vision Devices, Inc., Northrop Grumman Corporation, Optex Systems, Inc., Optronics Engineering Ltd., Photonis Technologies SAS by Exosens Group, QinetiQ Group Plc, Rolta India Limited, Rongland Ltd., RTX Corporation, Safran S.A., SATIR, Schmidt & Bender GmbH & Co. KG, Seek Thermal, Inc., Shenzhen Pard Technology Co., Ltd., SiOnyx, LLC, Steele Industries Inc., Tactical Night Vision Company, Inc., Tata Advanced Systems Limited, Teledyne FLIR LLC, Thales Group, Tonbo Imaging, and Yukon Advanced Optics Worldwide.
Market Segmentation & Coverage