Military Night Vision Device Market projected to grow at ~9% CAGR by 2024 | FLIR Systems, Elbit, L3 Technologies , Rockwell Collins, Thales, BAE, American Technologies and Newcon Optik

Global Military Night Vision Device Market by Device Type (Goggle, Camera, Scope), Technology (Image Intensifier, Thermal Imaging, Infrared Illumination), Application (Surveillance, Navigation, Targeting, and Others) and Region – Global Forecast to 2024

Military Night Vision Device – Summary

The global market military night vision devices can mushroom in size during the forecast period (2018-2024), claims Market Research Future in a minutely analyzed report. Military night vision devices have excellent use in countering various terrorist activities and border infiltration which can help it attain a staggering CAGR of 10.65% in the foreseeable future.

Since the past decade, the world is witnessing a spiraling rise of terrorist atrocities often resulting in a grave number of fatal cases. As per the reports published by the Global Terrorism Index (GTI), from 2006 to 2016, a daunting 67% growth in terrorist activities have raised many an eyebrow. South Asia has been on the receiving end mostly. As a countermeasure to thwart these kinds of undertakings, militaries are now employing surgical strikes which often take place in darkness and require sophisticated gears to carry out the operation successfully. Governments have increased their expenditures in acquiring advanced technologies to support their militaries.

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Border infiltration and trespassing have now become a regular concern for countries who share a common boundary with other nations. Countries such as the U.S. and India, along with a few European countries are finding it difficult to cope up with these issues on a daily basis. The perpetrators are not always innocent people, smugglers and terrorists do often come in order to wreak havoc on both financial and sociological ground. This has given rise to border patrolling which can minimize the number of such crimes. For this, the soldiers need to be equipped with the right kind of tackles. Hence, it can be a catalyst in driving the night vision device market further.

However, the advent of drones is changing the warfront strategies considerably. Governments are currently looking for leverages that can help them in reducing military casualties. Drones are a perfect substitute for tackling hostile situations.

Industry Trends:

Research and development have helped the defense industry take a quantum leap by introducing advanced headsets with combined night vision and thermal weapon sights. This cutting-edge technology gives soldiers an advantage on the battlefield aiding them in discerning targets faster and identifying proper locations. In May 2015, BAE Systems had launched such gears that have helped militaries foray in combat zones with added efficiency.

Opportunity:

Wars are slowly becoming sophisticated and are in need of advanced gadgets to maximize the output with minimal effort. Hence, the markets are getting swallowed by a number of manufacturers who are bringing in constant developments to provide better technical tools. Countries are expanding their defense budget spending to fortify their defenses. As per reports published by the Stockholm International Peace Research Institute (SIPRI), the global military spending rose by 1.1% in 2017 to around USD 1.74 trillion. Countries such as China, Saudi Arabia, and India, increased their military spending by 5.6%, 9.2%, and 5.5% respectively. This opens up a wider spectrum for various market players to set their foot in and take the market forward.

Segmentation:

The global military night vision device market can be segmented by device type, technology, and application.

By device type, the market is segmented into goggle, camera, and scope. Goggles accounted for the largest market share, and during the forecast period, it can register the fastest CAGR as well. The U.S. is currently developing night visions that can be linked with a number of weapon sights wirelessly.

Technology-wise, image intensifiers are the market flag-bearers and can also set the highest CAGR owing to its ability to transform low-intensity light into a wide light spectrum.

Application-based segmentation has surveillance dominating the market. To protect the people from growing threats of terrorism, governments are spending on surveillance systems to imbue situational awareness amongst soldiers.

Regional Analysis:

Region-wise, the global market for military night vision device covers North America, Europe, Asia Pacific (APAC), the Middle East & Africa (MEA), and Latin America.

North America is, as per the reports published in 2017, leading the market with 28.08% of the market share. The market can also witness an impressive CAGR of 10.81% in the near future. The U.S. is dominating the region with prominent manufacturers such as Rockwell Collins Inc. and Harris Corporation helming the global market. Canada’s contribution is also impacting the region significantly.

Europe is the second largest market and is expected to inflate with a striking CAGR of 10.50% during the review period. This has its root in the recent terror activities experienced by the U.K. and France. A rapid influx of immigrants from countries such as Syria, Iraq, and Libya caused instability which requires prompt handling from officials and tactical equipment which can improve efficiency.

The APAC market can experience the fastest CAGR of 11.06% during the forecast period. The market in the region is experiencing mushrooming of terrorist cells, border disputes, and illegal infiltration in several countries such as India, Pakistan, China and South Korea. To safeguard the national properties and civilians, precise measures are to be adopted which requires advanced technologies such as night vision devices.

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Global Military Night Vision Device Market: Competitive Landscape

Thales Group, BAE Systems, L3 Technologies, Rockwell Collins, and Harris Corporation are the leading players and together accounted for more than 70% of the market share in 2017. These companies continue to retain their strong global presence through expansion, merger & acquisition, and new product developments.

In 2017, Thales Group was the leading player in the market. The company designs and develops electrical systems and provides services for the aerospace, defence, transportation, and security industries. The major business segments of the company include aerospace, space, transportation, defence, and security. Thales Group is focused on building a strong value chain based on meeting international demand and requirements. As the company already enjoys a large customer base, along with a wide sales and distribution network, the provision of night vision devices would revamp its revenue and increase the share in the global market. Thales Group recently signed a contract with the Indian Army, to develop optronic devices, which includes night vision goggles, others, to enhance the night fighting capabilities and homeland security forces.

BAE Systems plc held the second position in terms of market share, in 2017. BAE Systems plc has its worldwide operations in over 40 countries and employs a large skilled workforce. It has established itself in the air, maritime, and land domains, as well as has a growing position in cybersecurity. The company operates as a leading defence, aerospace, and security firm. BAE Systems is primarily focusing on expanding its client base. For instance, in the past couple of years, the company expanded its existing product and service offerings in Asia and Europe. As a result, the company would boost its annual revenue, geographic presence, and market share. Recently, the U.S. Army gave an order to BAE systems for new night vision devices that will help safeguard its battlefield dominance in the dark.

L3 Technologies acquired the third spot in the market. L3 Technologies is an American company that provides a broad range of command and control, communications, electronic and sensor systems used on the military, and commercial platforms. Additionally, it is a leading contractor in aerospace systems, security and detection systems, and pilot training. The company is focusing on acquiring contracts from the U.S. government to improve its overall financial position. As the company already enjoys a broad product portfolio, the provision of innovative products would revamp its revenue. This would simultaneously help improve the company’s position in the global night vision device market.

Rockwell Collins acquired the fourth spot in the market. It engages in the design, production, and sales of electronic communications, avionics, and aviation systems for the aerospace and defence industries, across the globe. The company designs and manufactures flight control and navigation solutions for commercial and military aircraft and helicopters. The company also offers advanced helicopter display technologies, which provide enhanced situational awareness required for mission success. Rockwell Collins recently signed a contract with the Canadian Army to provide latest offerings related to military communications solutions, which includes IDVS (Integrated Digital Vision System).

Harris Corporation and Elbit Systems are other prominent players in the market. Harris Corporation recently signed an agreement with Aviation Specialities Unlimited Inc. (ASU) to sell, service and repair Harris aviation NVGs for foreign civil and military aviation customers. It also introduced the new F5032 Lightweight Night Vision Binocular that increases a warfighter’s night vision and low-light capabilities, along with helping to reduce eye fatigue during extended missions. Meanwhile, Elbit Systems was awarded USD 31.5 million contracts to provide head-up displays for aviator night vision imaging systems.

Other key players such as FLIR Systems, Inc., American Technologies Network Corp., Bharat Electronics Limited, and Meopta Optica S.R.O, are also active in this market. To stay ahead in the military night vision device market, these players are keen on developing devices that are small in size, weighs less, and consumes less power. Companies offering superior solutions in terms of devices that can be integrated with other equipment will have the edge over their competitors, and the companies driven by innovation in are likely to gain and maintain a healthy market share during the forecast period.

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