Dublin, July 31, 2023 (GLOBE NEWSWIRE) -- The "Global Night Vision Device Market Forecast 2023-2030" report has been added to ResearchAndMarkets.com's offering.
The global night vision device market is poised for significant growth in the forecast period of 2023-2030, with an estimated market value of USD 9.52 billion in 2023 and a projected compound annual growth rate (CAGR) of 9.92% to reach USD 18.50 billion by 2030.
The market is influenced by the cumulative impact of COVID-19, the Russia-Ukraine conflict, and high inflation. This comprehensive report provides valuable insights into market segmentation, technology trends, product analysis, application areas, distribution channels, and regional dynamics. Additionally, it offers a competitive assessment, regulatory framework, and strategic recommendations for industry players.
Key Highlights:
- The market is segmented based on technology (image intensifiers, infrared illumination, thermal imaging), product (binocular & clips, camera, goggles, scope), application (hidden object detection, hunting, military & defense, navigation, paranormal research, surveillance, wildlife spotting & conservation), and distribution (offline, online).
- The thermal imaging technology holds the largest market share of 37.06% in 2022, driven by its wide application across various sectors.
- The military & defense sector dominates the market with a share of 26.80% in 2022, owing to increasing demand for enhanced navigation, surveillance, and targeting capabilities.
- Offline distribution channels hold a significant market share of 95.00% in 2022, although online channels are gaining traction due to their convenience and accessibility.
- The report covers the market dynamics, including drivers (growing demand across military, healthcare, and automotive sectors), restraints (high dependency on defense budget), opportunities (technological advancements in night vision devices), and challenges (high cost of third-generation technology).
- The cumulative impact of COVID-19, the Russia-Ukraine conflict, and high inflation on the market is analyzed, considering changes in consumer behavior, supply chain disruptions, government interventions, and economic uncertainty in Eastern Europe.
- The report provides a detailed analysis of market trends, Porter's Five Forces analysis, value chain, regulatory framework, and client customization options.
- It offers strategic insights into market penetration, development, diversification, and competitive assessment, enabling companies to make informed decisions and capitalize on emerging opportunities.
- Key players in the market include AGM Global Vision, BAE Systems PLC, Elbit Systems Ltd., L3Harris Technologies, Inc., Teledyne FLIR LLC, and Thales Group, among others.
In conclusion, the global night vision device market is expected to experience robust growth driven by technological advancements, increasing defense investments, and rising demand across various sectors. However, challenges related to cost and dependency on defense budgets need to be addressed. The report serves as a comprehensive guide for industry players, providing key insights and strategies to navigate the evolving market landscape.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 184 |
| Forecast Period | 2023 - 2030 |
| Estimated Market Value (USD) in 2023 | $9.52 Billion |
| Forecasted Market Value (USD) by 2030 | $18.5 Billion |
| Compound Annual Growth Rate | 9.9% |
| Regions Covered | Global |
Company Profiles:
- AGM Global Vision
- American Outdoor Brands
- American Technology Network
- B.E. Meyers & Co.
- BAE Systems
- Bharat Electronics
- Elbit Systems
- Fenn Night Vision
- General Starlight Company
- Global Tele Communications
- Hangzhou View Sheen Technology Co.
- IRay Technology Co.
- Janos Technology
- Kapri Corp
- L3Harris Technologies, Inc.
- MKU LIMITED
- Newcon Optik
- Night Vision Devices, Inc.
- Optronis GmbH
- Raytheon Technologies Corporation
- Rolta India Limited
- Rongland Ltd.
- SATIR
- Schmidt & Bender GmbH & Co. KG
- Seek Thermal, Inc.
- Steele Industries Inc.
- Tata Advanced Systems Limited
- Teledyne FLIR LLC
- Thales Group
- Yukon Advanced Optics Worldwide
For more information about this report visit https://www.researchandmarkets.com/r/g365uv
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