Image Intensifier Tube Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Generation (Generation 1, Generation 2, and Generation 3) and End User (Military, Healthcare and Biotech, and Others)

According to our latest market study, titled ""Image Intensifier Tube Market Forecast to 2028 - Global Analysis - by Generation and End User,"" the market is expected to grow from US$ 1,010.94 million in 2022 to reach US$ 1,387.54 million by 2028; it is anticipated to grow at a CAGR of 5.4% from 2022 to 2028.

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An image intensifier tube (IIT) is a vacuum tube used across military, healthcare, and research applications. IIT increases the light intensity for any image passing through its lens into an optical system. One of the major factors catalyzing the image intensifier tube market size is the growing procurement and production of imaging systems such as night vision systems, countermeasure systems, airborne early warning systems, and threat detection systems. For example, in November 2022, L3Harris Technologies announced that it had delivered its 10,000th night vision goggle to the US army. Moreover, it had secured an additional order for providing its enhanced night vision goggle-binocular (ENVG-B) to the armed forces. Most defense forces are procuring night vision systems, which generates demand for new IITs. Apart from night vision goggles, IITs are also increasingly being used in high-speed imaging systems, low-light imaging, missile warning systems, security detection systems, threat detection systems, etc. which in turn is driving the image intensifier tube market growth.

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The APAC image intensifier tube market is segmented into Australia, China, India, South Korea, Japan, and the Rest of APAC. The image intensifier tube market in the region is expected to grow at the highest CAGR from 2022 to 2028. A continuously growing aviation sector, with the rise in government initiatives to promote this sector, is leading to a rise in demand for aircraft and airport components. In September 2021, the Indian government announced its intentions to make the country a global MRO hub. Further, the growing interest of international companies in investing in the aviation sector in APAC countries, such as India and Japan, for establishing aircraft part manufacturing facilities is likely to generate market opportunities for image intensifier tube market players during the forecast period.

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Impact of COVID-19 Pandemic on APAC Image Intensifier Tube Market

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The COVID-19 outbreak significantly affected the image intensifier tube market in 2020. The imposition of a ban on commercial activities disrupted the industrial supply chains in Asia Pacific, leading to raw material shortages. Image intensifier tubes consist of input phosphor, photocathode, electrostatic focusing lenses, accelerating anode, and output phosphor, which are manufactured in Asian countries. Due to a temporary halt in business operations because of the COVID-19 crisis, rollouts of many image intensifier tube systems were adversely impacted.

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From 2021, the image intensifier tube systems industry witnessed recovery as the manufacturing companies resumed their business. Within the regional countries, recommence of manufacturing plants has resulted in an increase in the component manufacturing business. In addition, several companies witnessed a huge demand for the installation of image intensifier tube products across countries in Asia Pacific. For instance, in 2021, the Defence Procurement Board (DPB), India, awarded a contract to an unknown company for the procurement of 29,760 units of image intensifiers for their respective high-quality assault rifle, the German American SIG-Sauer 716G2. Such instances are helping the image intensifier tube market players to recover from the losses caused by the pandemic.

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Key Findings of Market Study

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China, the most populated country globally, has experienced a rise in demand for efficient healthcare systems. The Chinese government is constantly working on providing basic health facilities to all its residents. This is influencing the investment by the country in various healthcare infrastructure projects. Additionally, the sudden and rapid onset of the pandemic in China also attracted huge investment by the government to build up hospitals in a limited time frame. These factors are further expected to contribute to the image intensifier tube market growth since, rising number of hospitals will help in boosting the demand for medical equipment across the country. The country also homes several medical device manufacturers constantly engaged in integrating advanced technology to enhance efficiency. These factors are expected to contribute to the growing demand for image intensifier tubes from medical imaging device manufacturers. Additionally, China is the second-largest military spender in the global defense industry. Moreover, the rise in border tensions between China and India is further influencing the country's procurement of advanced weapons and equipment. These factors are expected to contribute to the image intensifier tube market growth in the coming years.

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The Indian healthcare system is expanding rapidly because of improved coverage, services, and increased spending by both public and private entities. An expanding middle class, combined with an increase in the prevalence of new ailments, is driving the demand for healthcare services across the country. These factors have influenced the rise in demand for new hospital infrastructure across the country. The development of new healthcare infrastructures is increasing the demand for medical devices, which is expected to positively impact India's image intensifier tube market. Additionally, the military sector of India is developing rapidly. India is the third-largest military spender across the globe after the US and China. This rise in military expenses is also influencing the high procurement of military devices, including night vision equipment, contributing to rising image intensifier tube market size.

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