Raipur, April 20, 2022 (GLOBE NEWSWIRE) -- Stratview Research, a leading market research firm has launched a report on the Night Vision Goggle Market which provides an in-depth analysis of the market dynamics, current and emerging trends, industry forecast, and competitive landscape.
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What are Night Vision Goggles?
A night vision goggle is a highly advanced optical instrument that enables images to be produced in low levels of light. These are electro-optical devices that form images by measuring the temperature difference or by enhancing the light source of the environment, instead of relying on its own sources. These goggles give the soldiers an edge as they allow them to see in dark environments and execute their military operations in the dead of the night. Hence, they have become a very crucial element for a soldier during military operations.
What are the Top Market Drivers?
As a number of military operations occur during the night hours or under poor visibility conditions, the importance of night vision goggles becomes paramount. As a result, there have been significant investments in the development and procurement of night vision goggles by the defense authorities in recent times, which has significantly influenced the market growth. Some of them are –
- In October 2021, The US Army has awarded a $54 million contract to Elbit Systems of America, LLC for the production of the Enhanced Night Vision Goggle – Binocular (ENVG-B). Similarly, in September 2021, L3Harris Technologies, Inc. signed a contract worth US$ 100 million with the US Army to deliver the ENVG-B systems. These fused goggles provide the soldiers with significantly enhanced situational awareness along with increased lethality through faster target acquisition, enabling them to accurately target, engage, and neutralize threats, without the risk of exposure.
- In June 2021, Elbit Systems UK Limited signed an 18-month contract worth US$ 16 million with the UK Ministry of Defence (MoD), to provide the UK Armed Forces with the lightweight micro binocular XACT nv33 night vision goggles in a helmet-mounted configuration.
Market Segmentation:
Stratview Research has segmented the market in the following ways which fulfil the market data needs of multiple stakeholders across the industry value chain.
- Product Type - Helmet-Mounted Display and Handheld Goggle
- Device Type - Binocular, Monocular, and Others
- Platform Type - Ground-based Googles, Air-based Googles, and Naval-based Googles
- Technology Type - Image Intensification Technology [Gen I-III and Gen-IV],
- Thermal Technology - SWIR, MWIR, and LWIR, and
- Fusion Technology - Optical Image Integration and Digital Image Integration, and
- Region-
- North America - The USA, Canada, and Mexico
- Europe - Germany, France, The UK, Russia, and Rest of Europe
- Asia-Pacific - China, Japan, India, South Korea, and Rest of Asia-Pacific, and
- Rest of the World - Brazil, Israel, Saudi Arabia, and Others.
How is the Report Helpful?
The report has a very high utility for the key decision-makers and strategists in terms of accurate market insights, future growth opportunities, and key success factors.
Most importantly, the report analyses the possible impact of COVID-19 on the market dynamics which offers cushioning against the uncertain business environment and helps in streamlining the resources and investment decisions in a fruitful manner.
Run through the ToCs of the report, here.
Market Insights
- On the basis of product type, Helmet-mounted display accounts for the larger share followed by handheld goggles. Helmet-mounted goggle is a much-advanced night vision goggle for soldiers in any military operation.
- Based on the device type- Among device types, binocular devices dominate the market as compared to other devices. Binoculars are most suitable for ground-based missions, due to the twin-viewing tubes providing a bigger field of view, considered ideal for surveillance, imaging, and scouting.
- Based on the technology type, goggles embedded with fusion technology have proved to be excellent tools for night vision and have generated a large demand. These goggles detect thermal radiation as well as enhance (or magnify) the light of the environment and translate it into a picture.
- Based on the platform type, the market is bifurcated into ground-based, air-based, and naval-based platforms. Among these platform types, ground-based platform is likely to continue as the major demand generator for night vision goggles in the foreseen future.
- In terms of regions, North America, the largest military spender, is expected to remain the major market for night vision goggles throughout the forecast period. This is attributed to the extensive investments made by the US DoD. Concurrently, Asia-Pacific is expected to witness the fastest growth in the night vision goggle market in the coming years.
COVID-19 Impact on the Market
COVID-19 has put an instant halt to many industries across the globe. Lockdown norms in several countries have swiftly affected the global economy by affecting the supply chain, production, and demand in the market. Both direct, as well as indirect impacts of the pandemic, have been incorporated in this report.
To know more about the covid-19 impact, download a free sample report, here:
https://www.stratviewresearch.com/Request-Sample/2814/night-vision-goggle-market.html#form
Who are the Top Market Players?
After a thorough analysis of the market, the experts have listed a few key players and discussed the company profiles of the below-given players –
- L3Harris Technologies, Inc.
- BAE Systems
- Thales Group
- Elbit Systems Ltd.
- Raytheon Technologies
What deliverables will you get in this report?
- In-depth analysis of the Night Vision Goggle Market.
- Detailed market segmentation.
- Competitive-landscape analysis.
- Historical, present, and future market size analysis.
- Industry trends, technologies, and advancements.
- Growth and operation strategies adopted by key players.
- Potential segments/regions offering promising growth.
- Geographical presence of the key players.
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