Raipur, April 20, 2022 (GLOBE NEWSWIRE) -- Stratview Research, a leading market research firm has launched a report on the Night Vision Device Market that 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 Devices?
A night vision device improves vision in low-light or no-light environments or during night operations. These devices were introduced during the 2nd World War and have been increasingly used thereon. These devices are becoming popular in military applications, enabling soldiers to execute various military tasks without putting their lives at greater risk.
What are the Top Market Drivers?
According to the report, there has been a hefty increase in the overall production and development of these Night Vision Devices. The common market drivers include-
- The increasing political stalemates,
- Rising border conflicts,
- Growing threat of terrorism in recent years
- Occurrence of military operations during the night time.
In line with this, there have been several investments in the defense industry directed at night vision devices in recent years, which would boost the overall market. Some of them are:
- In September 2021, L3Harris Technologies, Inc. signed a contract worth US$ 100 million with the US Army, to deliver the enhanced night vision goggle-binocular (ENVG-B) systems.
- Similarly, in July 2021, the Organisation Conjointe de Cooperation en matière d’Armement (OCCAR) signed a multi-million-dollar contract with the consortium of HENSOLDT and THEON SENSORS for the production and delivery of the advanced Binocular Night Vision Goggles (BNVG) for the Belgian and German armies.
Market Segmentation & Insights:
Stratview Research has segmented the market in the following the ways which fulfil the market data needs of multiple stakeholders across the industry value chain.
- Platform Type - Ground-based NVD, Air-based NVD, and Naval-based NVD
- Technology Type –
- Image Intensification Technology - Gen I-III, Gen-IV,
- Thermal Technology - SWIR, MWIR, and LWIR, and
- Fusion Technology - Optical Image Integration and Digital Image Integration.
- Product Type - Night Vision Goggle, Weapon Night Sight, and Handheld Thermal Imager.
- 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,
- Rest of the World - Brazil, Israel, Saudi Arabia, and Others.
Based on the platform type, the ground-based platform is likely to continue as the major demand generator for night vision devices as these devices are frequently used by the dismounted soldiers for every ground-based operation and mission.
Similarly, based on the technology type, thermal technology is in larger demand for night vision devices as compared to image intensification and fusion technology. Over the years, thermal imaging devices have proved to be excellent tools for night vision, as they detect thermal radiation and translate the heat into a picture, without using a source for illumination.
Based on the product type, the night vision goggle segment accounts for the largest market share. The goggles are used in large volumes as they are deployed across every soldier, who is engaged in a military operation or mission. They enable the soldiers to see through dark or no-light environments and are also capable to penetrate through the mist, fog, rain, and smoke.
Which region is estimated to be dominant?
North America is expected to maintain its dominance in the night vision device market throughout the forecast period. Concurrently, Asia-Pacific is expected to witness the fastest growth in the night vision device market in the coming years.
- The key factors responsible for the swift growth are increased demand for night-vision goggles and weapon night sights by the regional military forces and a continuous rise in the overall military expenditure, especially in China and India.
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.
View the Report Scope and Table of Contents:
https://www.stratviewresearch.com/toc/2813/night-vision-device-market.html
COVID-19 Impact on the Automotive Pressure Vessels Market
The market with excellent growth potential saw a massive decline in 2020. Implementation of lockdown and postponement of vehicle purchase, and decline in new alternative fuel vehicle registration due to the pandemic negatively impacted the automotive pressure vessels market in 2020. Despite being suffered by a huge loss in 2020, the automotive pressure vessel market seems to be brighter with a number of growth opportunities for pressure vessel manufacturers in the years to come.
To know more about the covid-19 impact, get a free sample report, here:
https://www.stratviewresearch.com/Request-Sample/2813/night-vision-device-market.html#form
Who are the Top Market Players?
The entire competitive dynamics have significantly been influenced as a result of these mergers and acquisitions. The following are some of the major players in the night vision device market:
- 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 Device 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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