PUBLISHER: The Business Research Company | PRODUCT CODE: 1563213
PUBLISHER: The Business Research Company | PRODUCT CODE: 1563213
Night vision devices (NVDs) are optical instruments that enable vision in low-light or dark environments by amplifying available light or detecting infrared radiation.
The night vision devices market consists of sales, by entities (such as organizations, sole traders or partnerships), of night vision devices that are used by both professionals and enthusiasts, including military personnel, security forces, hunters and wildlife researchers, providing them with the ability to see and operate in darkness or near-dark conditions.
The global night vision devices market was valued at $5,944.43 million in 2018 which grew till 2023 at a compound annual growth rate (CAGR) of more than 5.0%.
Military Modernization Programs
During the historic period, military modernization programs drove the growth of the night vision devices market. Governments prioritized defense system upgrades, focusing on advanced technologies to enhance operational capabilities. Night vision devices, crucial for situational awareness in low-light conditions, were integral to these efforts. Rising defense budgets led to significant investments in acquiring cutting-edge night vision systems, driving market growth and strengthening military capabilities across regions. For instance, in October 2022, the Army published the 2022 Army Cloud Plan in US, updating its 2020 plan, to advance its goals of digital modernization. This new plan focuses on integrating key services into the cloud environment across the enterprise, moving the Army closer to achieving its modernization objectives. The updated plan represents a strategic shift towards leveraging cloud technology for enhanced efficiency and effectiveness. Additionally, in June 2022, the Defense Minister of Canada, along with the Chief of Defense Staff and Deputy Commander of NORAD, announced Canada's initiative to modernize continental defense capabilities. The plan, supported by a $3 billion investment over six years starting in 2022-23, enhances Canadian Armed Forces (CAF) and NORAD capabilities to detect, deter and defend against emerging threats. With $1.9 billion in remaining amortization, totaling $4.9 billion on a cash basis, the initiative aims to ensure long-term security for Canadians through new and improved defense measures. Therefore, military modernization programs positively impacted the growth of the night vision devices market.
Development Of High-Performance Night Vision Gear For Enhanced Soldier Systems
Major companies in the night vision devices market are focusing on developing advanced night vision gear to enhance soldier systems. This includes improving ergonomics, functionality and compatibility with current and future military equipment. The goal is to provide high-performance, cost-effective solutions that boost night fighting capabilities, integrate seamlessly with existing systems and meet the specific needs of modern military operations. For example, in May 2024, Senop Oy, a Finland-based high-performance night vision equipment manufacturing company, signed a letter of intent with the Finnish Defense Forces' Logistics Command to advance new night vision technology. This research and development (R&D) partnership aims to enhance the Army's night fighting capabilities by developing next-generation night vision goggles based on M20 technology. The initiative focuses on improving ergonomics, introducing a new helmet mount and ensuring high performance, cost-effectiveness and compatibility with both current and future Finnish soldier systems. The collaboration underscores a commitment to providing domestic solutions with secure supply and advanced functionality for the Finnish Defense Forces.
The global night vision devices market is fairly concentrated, with large players in the market. The top ten competitors in the market make up 31.18% of the total market in 2023.
Night Vision Devices Global Market Opportunities And Strategies To 2033 from The Business Research Company provides the strategists; marketers and senior management with the critical information they need to assess the global night vision devices market as it emerges from the COVID-19 shut down.
Where is the largest and fastest-growing market for night vision devices? How does the market relate to the overall economy; demography and other similar markets? What forces will shape the market going forward? The night vision devices market global report from The Business Research Company answers all these questions and many more.
The report covers market characteristics; size and growth; segmentation; regional and country breakdowns; competitive landscape; market shares; trends and strategies for this market. It traces the market's history and forecasts market growth by geography. It places the market within the context of the wider night vision devices market; and compares it with other markets.