Night Vision Device (NVD) Market in Military Industry 2019 Projected to Experience Massive Growth at 10.65% CAGR During 2018-2024 | Highlights by Competitive Scenario with Impact of New Innovations, Drivers and Challenges

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

Various manufacturers are signing contracts with several officials to expand their business portfolio and earn revenues for the market. BAE Systems recently signed a deal with the U.S. government for new night vision goggles to help their army gain dominance over others. Harris Corporation signed an agreement with Aviation Specialties Unlimited Inc. (ASU) with an aim to sell, provide service and aftermarket services to foreign civil and military aviation customers.

The key market players are Thales Group, BAE Systems plc, L3 Technologies, Rockwell Collins, Inc., Harris Corporation, American Technologies Network Corp., Bharat Electronics Limited (India), Elbit Systems Ltd., FLIR Systems, Inc., Meopta Optica S.R.O., and others.

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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.

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.

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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.

Table of Contents

1 Executive Summary

2 Market Introduction
2.1 Definition
2.2 Scope of the Study
2.3 List of Assumptions
2.4 Market Structure
2.5 Key Takeaways
2.6 Key Buying Criteria

3 Research Methodology
3.1 Research Process
3.2 Primary Research
3.3 Secondary Research
3.4 Market Size Estimation
3.5 Forecast Model

4 Market Dynamics
4.1 Introduction
4.2 Drivers
4.2.1 Rising Terrorist Attacks and Focus on Counter Operations
4.2.2 Increasing Incidences of Border Trespassing and Focus on Border Protection
4.3 Restraint
4.3.1 Increased Use of Drones
4.4 Opportunities
4.4.1 Changing Nature of Warfare
4.4.2 Increase in Military Spending
4.5 Trend
4.5.1 Integration of Night Vision Device With Tactical Headset

5 Market Factor Analysis
5.1 Porter’s Five Forces Model
5.1.1 Threat of New Entrants
5.1.2 Bargaining Power of Suppliers
5.1.3 Bargaining Power of Buyers
5.1.4 Threat of Substitutes
5.1.5 Rivalry
5.2 Supply Chain

Continued........

List of Tables

Table 1 Market Synopsis
Table 2 List of Assumptions
Table 3 Global Military Night Vision Device Market, by Device Type, 2017-2024 (Usd Million)
Table 4 Goggle: Military Night Vision Device Market, by Region, 2017-2024 (Usd Million)
Table 5 Camera: Military Night Vision Device Market, by Region, 2017-2024 (Usd Million)
Table 6 Scope: Military Night Vision Device Market, by Region, 2017-2024 (Usd Million)
Table 7 Global Military Night Vision Device Market, by Technology, 2017-2024 (Usd Million)
Table 8 Image Intensifier: Military Night Vision Device Market, by Region, 2017-2024 (Usd Million)
Table 9 Thermal Imaging: Military Night Vision Device Market, by Region, 2017-2024 (Usd Million)
Table 10 Infrared Illumination: Military Night Vision Device Market, by Region, 2017-2024 (Usd Million)

Continued......

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