-- High Demand For Advanced Technology In Military and Defense Sector To Propel The Growth Of Global Military Night Vision Devices Market
Market Overview:
The rapid development in technology has led to the introduction of advanced optoelectronic equipment such as night vision devices that allows the images to be produced in the absence of natural or artificial lights. These devices are being vitally used by the military sector to carry out operations at night time.
As per the report that has been published by Market Research Future (MRFR), the global military night vision devices market is anticipated to expand at a robust CAGR of 10.65% during the forecast period of 2018-2024.
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Drivers and Restraints:
Increasing geopolitical issues and territorial conflicts have created the emergence of incorporation of advanced electronic devices in order to strengthen the military bases in various nations. The night vision devices aids in carrying out successful military operations even at night. The rapid incorporation of advanced technology in the military sector is majorly driving the growth of the global military night vision devices market.
The extensive use of night vision devices in border security owing to the increased cross-border operations and high influx of refugees and immigrants is propelling the expansion of the global military night vision devices market. The constant upgrade in the design and functioning of night vision cameras to make them more efficient is fueling the growth of the global military night vision devices market.
Increasing defense expenditure to tackle the increasing terrorist activities is impacting positively on the growth of the global military night vision devices market. However, the high initial cost and diminished procurement of night vision devices due to budget cuts in the defense sector are likely to hinder the growth of the global military night vision devices market.
Competitive Landscape:
High demand for advanced night vision devices in the global market has led to increased investments for innovative product launch in the global military night vision devices market. The players in the global market are aiming towards business expansion through strategic mergers and acquisitions in the global market.
In July 2018, U.S.-supplied night vision devices allowed Ukrainian troops to spot the terrorist group that was attempting to penetrate joint forces position in eastern Ukraine during the night hours.
The key players that are highlighted in the report published by MRFR on the global military night vision devices market are :
• Meopta Optica S.R.O (Czech Republic)
• L3 Technologies Inc. (U.S.)
• Harris Corporation (U.S.)
• American Technologies Network Corp. (U.S.)
• Rockwell Collins Inc. (U.S.)
• FLIR Systems, Inc. (U.S.)
• BAE Systems plc (U.K.)
• Bharat Electronics Limited (India)
• Thales Group (France)
• Elbit Systems Ltd. (Israel).
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Market Segmentation:
The global military night vision devices market has been segmented on the basis of device type, technology and application. Based on device type, the military night vision devices market is segmented into goggles, camera and scope. The goggle segment is anticipated to project significant growth in the global military night vision devices market during the forecast period owing to its light weight and its benefit of providing situational awareness to the soldiers.
Based on technology, the military night vision device market is segmented into image intensifier, infrared illumination and thermal imaging. Among these, the image intensifier technology segment is anticipated to account for the largest share in the global military night vision devices market.
Based on application, the military night vision devices market is segmented into surveillance, navigation, targeting and others. The surveillance segment is touted to expand at the highest rate owing to the increased incorporation of night vision devices in unmanned aerial vehicles for surveillance purpose.
Regional Analysis:
The global military night vision market is regionally segmented into North America, Europe, Asia Pacific, Latin America and the Middle East and Africa. The military night vision devices market in the North America region accounts for a significant share in the global market owing to the presence of large number of manufacturers of night vision devices and easy adoption of advanced technology in this region.
The increasing military and defense expenditure in the Europe region for the incorporation of upgraded technology in the defense sector is driving the military night vision devices market in this region. The emergence of strengthening the defense sector due to increasing territorial conflicts is fueling the growth of military night vision market in the Asia Pacific region.
Intended Audience
• Military Night Vision Device Original Equipment Manufacturers (OEM)
• Related Components Providers
• Government Organizations
• Defense Contractors
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Contact Info:
Name: Abhishek Sawant
Email: Send Email
Organization: Market Research Future
Address: Market Research Future, Magarpatta Road, Hadapsar, Pune - 411028, Maharashtra, India
Phone: 16468459312
Website: https://www.marketresearchfuture.com/reports/military-night-vision-device-market-5980
Release ID: 391003
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