Night Vision Devices Market Key Manufacturers and Global Industry Analysis by 2031

Night Vision Devices Market - Overview

The global night vision devices market is anticipated to expand at a promising rate from 2021 to 2031. Increasing investment in defense, the growing need for sophisticated and better night vision equipment, and evolving technology are the primary factors likely to drive the growth of the global night vision devices market. Moreover, wireless night vision devices, thermal imaging-based night vision devices, and lightweight night vision devices are recent developments in the night vision devices market that are anticipated to create considerable potential for the market to grow.

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Night Vision Devices Market - Competitive Landscape

Leading Players in the night vision devices market are FLIR® Systems, Inc., Thales Group, BAE Systems Plc, Collins Aerospace, L3 Technologies, Inc., Elbit Systems Ltd., Bharat Electronics Limited, Harris Group Inc., American Technologies Network Corp., and SATIR.

To achieve a larger market share, these corporations are constantly investing in strategic alliances with governments. The combination of rigorous government regulation and high production costs is creating competition among these firms. Overall, the degree of competition remains high, owing mainly to the significant presence of the market's major competitors.

Thales introduced XTRAIM, a revolutionary weapon sight that provides day/night de camouflage capabilities formerly only possible with many pieces of equipment. It is suitable with all light machine guns (Minimi) and shoulder-fired assault rifles (HK416), allowing users to shoot with remarkable precision at night.

Night Vision Devices Market - Trends and Opportunities

The rapidly rising usage of night vision devices in the military and defense sectors is one of the primary reasons expected to drive the worldwide night vision devices market. Moreover, its numerous benefits, such as recognition and identification performance, low power and cost, high resolution, and capacity to identify individuals, are projected to boost the global night vision devices market. Furthermore, rising military budgets in various nations and the upgrading of current defensive technologies are expected to contribute to market expansion.

To prevent the spread of COVID-19, governments across the globe are adopting severe monitoring techniques. Moreover, in order to battle the pandemic, businesses are upgrading their business continuity models by investing in innovative models. Drones fitted with night vision cameras can help police in locating gatherings while keeping social distancing norms. The technology also helps identify people who are not wearing masks in public locations.

For example, in May 2020, the Italian Civil Aviation Authority (ENAC) and the Italian government authorized the use of modern drones equipped with night vision cameras to track public movement during the coronavirus outbreak. This method helped the government deal with the coronavirus crisis. Moreover, thermal imaging night vision devices are currently under focus since these devices can detect elevated body temperature in a person.

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Night Vision Devices Market - Regional Landscape

The night vision devices market in North America is expected to develop during the forecast period. The growing number of security breaches in numerous nations around this region is projected to increase the demand for night vision devices. Moreover, growing product use in surveillance and increased security measures in the United States and Canada is anticipated to benefit the regional market growth. Furthermore, rising military and defense spending is likely to boost the sales of night vision devices market in North America.

Asia Pacific night vision devices market is projected to expand during the forecast period due to the increased use of advanced military gadgets and a growing propensity toward cost-efficient technological advance devices in this area. Additionally, rising military budgets in emerging nations are expected to drive development in the night vision devices market in this region.

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