The night vision devices market is expanding due to geopolitical tensions and increased defense budgets, with a projected CAGR of 7.3% from 2021-2026.
The new report by Expert Market Research titled, ‘Global Night Vision Devices Market Report and Forecast 2021-2026’, gives an in-depth analysis of the global night vision devices market, assessing the market based on its segments like end-product forms, equipment types, and applications. The report tracks the newest trends within the industry and studies their impact on the general market. It also assesses the market dynamics, covering the key demand and price indicators, alongside analysing the market supported the SWOT and Porter’s Five Forces models.
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The key highlights of the report include:
Market Overview (2016-2026)
Industry Definition and Major Segments
A night vision device allows you to see in the dark and is used for safety in low-light situations. Multi-spectral imaging, optical guiding, and eye tracking are all possible with these devices, which are highly optoelectronic. They’re used in the fields of navigation, surveillance, and targeting.
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The night vision market can be divided based on segments like type, technology & end use.
Based on type:
Based on technology:
Based on end use:
Market Trend
In many countries around the world, government organisations are upgrading their weapons and devices to improve navigation, surveillance, and targeting capabilities. As a result, the demand for such devices grows, resulting in a larger market for night vision devices. Increased defence budgets have resulted from increased demand for night vision devices in combat and patrolling operations. It is also expected to provide better opportunities for manufacturers as a result of the government’s increased investment in R&D night vision technology.
Increased geopolitical tensions and territorial conflicts have necessitated the use of advanced electronic equipment, such as night vision devices, to improve vigilance and surveillance in military areas. The night vision devices provide colour images to soldiers in low-light situations in the field. In recent years, these devices have gained popularity among wildfire researchers, which is expected to increase demand for them. The demand has also been propelled by technical and application feasibility, such as head-mounted night vision, combined with a reasonable price. As a result, manufacturers are constantly improving the functionality and design of cameras used in night vision devices in order to increase their effectiveness. Furthermore, due to the high influx of refugees and immigrants, as well as increased cross-border operations, the use of night vision devices in border security has increased.
Key Market Players
The major players within the market are ATN Corp., Elbit Systems of America and others. The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of those market players.
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The article discusses the growth of the night vision devices market driven by geopolitical tensions and military needs.
Geopolitical tensions, increased defense budgets, and technological advancements are key drivers.
The forecast period for the market growth is from 2021 to 2026.
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