25 August 2020: The global night vision device market is expected to witness considerable growth on account of its increasing popularity among wildlife researchers and nature enthusiasts. Moreover, the technical feasibility and reasonable cost of providing security personnel with night vision devices that are capable of creating color images are driving the market growth. Night vision devices such as goggles are used in combat activities in navigation, the military sector, surveillance, and rescue operations.
Increased Usage of Goggles in Defense Sector Promoting Segment Growth
Based on type, the market is segmented into camera, goggles, scope, and others. Scope devices segment held the largest share of the market in 2018. Scopes are bigger and heavier than goggles and are mainly used as weapon sights. They offer better performance and the demand for scopes is relatively higher than goggles. It is mainly used for scouting and navigation purposes.
Goggles are highly useful in versatile situations in military and during night operations, hence these find extensive usage in the defense sector across the world. There is a large emphasis on incorporating these along with Advanced Driver-assistance Systems (ADAS) for cars by automotive manufacturers. Another factor that could influence the growth of the market is night tours for photography, which is creating lucrative growth prospects for the segment.
In 2018, the camera segment held a significant share of the market and is expected to register a steady CAGR over the forecast period. Low maintenance and purchasing costs has resulted in the growth of the camera segment. Other factors promoting the growth of the market are the features of the product that include flexibility, lightweight, and detachability.
Based on technology, the night vision market can be segmented into thermal imaging, image intensifier, and others. Thermal imaging held the largest market share and accounted for a significant share in 2018. There are two types of thermal imaging devices, cryogenically-cooled and uncooled. Uncooled devices can operate at room temperature and are most commonly used. Cryogenically-cooled devices are highly susceptible to damage and are expensive.
Market Insights
Increasing popularity of night vision devices for applications in civil sector such as camping, construction sites, monitoring, and firefighting has benefitted the market in the past few years. High demand for advanced technologies such as thermal imaging and imaging intensifier in surveillance and security devices has propelled the growth of the market in commercial sector.
Leading companies in the night vision are mainly focusing on mergers and acquisitions, product developments, strategic partnerships, and business expansions in order to strengthen their position in the market. Some of the major companies in the night vision market are Harris Corporation; American Technologies Network Corporation; Raytheon Company; FLIR Systems, Inc.; Yukon Advanced Optics Worldwide; Firefield; Apresys, Inc., Bushnell; L3 Technologies, Inc; and Luna Optics.
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