Detroit, Oct. 24, 2024 (GLOBE NEWSWIRE) -- The global weapon night sight market is projected to witness a growth rate of 5.1% annually from 2023 to 2028, with an anticipated size of US$ 3.2 billion by 2028, according to an analysis by Stratview Research.
Stratview Research, a global market research firm has launched a report on the global weapon night sight market which provides a comprehensive outlook of the global and regional industry forecast, current & emerging trends, segment analysis, competitive landscape, & more.
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Report Highlights
| Market Size in 2028 (billion US$) | 3.2 |
| Growth (CAGR) | 5.1% during 2023-2028 |
| Forecast Period | 2023-2028 |
| Trend Period | 2017-2021 |
| Base Year | 2022 |
| Number of Segments Covered | 4 |
| Number of Tables & Graphs | 100+ |
| Country-Level Market Assessment | 20 |
Segment Insights on the Weapon Night Sight Market:
The global weapon night sight market is segmented based on product type, technology type, platform type, and region.
Based on product type - The market is segmented into gun-mounted and vehicle-mounted weapon night sights. Gun-mounted weapon night sight holds the dominant share and is also likely to continue its supremacy throughout the forecast period. It is primarily due to its wide usage, lower cost, portability features, and easy-to-use interface. These systems are largely used by the armed forces during stealth missions.
Based on the technology type – The market is classified as image intensification technology, thermal technology, and fusion technology. All three technology types are further bifurcated with the sole aim of providing a panoramic view of the market. Image intensification is divided into generations I-III and IV systems. Similarly, thermal night sights are segmented into SWIR, MWIR, and LWIR, and fused night sights into optical and digital image integration. Weapon night sights embedded with thermal technology have generated a large demand. In recent years, weapon night sights embedded with thermal technology have generated a large demand. This is because the performance of thermal weapon sights is not affected by the absence of a light source, as they work exclusively on detecting the heat radiation of the target and their surroundings. Therefore, with the increasing anti-terrorism missions across the globe, the demand for thermal weapon night sights is expected to increase.
Based on the platform type - The market is bifurcated into ground-based, air-based, and naval-based platforms. The ground-based platform is likely to continue to be the major demand generator for weapon night sights in the coming years. As these devices are frequently used by dismounted soldiers for enhanced night-firing capabilities in several ground-based combat missions, the ground-based platform is likely to continue to be the major demand generator for weapon night sights in the coming years.
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Which Region Shows the Most Promising Growth Forecast and Opportunity?
The analysis suggests that North America is likely to maintain its supremacy in the weapon night sight market throughout the forecast period. This growth outlook is majorly attributed to the following–
- As the weapon night sights substantially augment the night-firing capabilities of the armed forces, the US DoD has been extensively investing in them.
- Moreover, the region is the home to the major companies in the market such as L3Harris Technologies, Inc., Raytheon Technologies Corporation, and Elbit Systems of America, LLC, which are among the major contractors for the regional defense authorities.
Weapon Night Sight Market Drivers:
Some of the key drivers listed in the report are given below.
- An unprecedented demand for weapon night sights in recent years as several military operations, such as counterterrorism and anti-militant missions, occur at night or under poor visibility conditions.
- The rising usage of weapon night sights by dismounted soldiers across the globe for the provision of unmatched night-firing capabilities.
- The rising regional border conflicts and anti-terrorist missions, along with the growing military expenditure.
Top 5 Companies in the Weapon Night Sight Market:
There is stiff competition in the weapon night sight market. The companies differentiate their products based on technology, type, and quality. Their overall market growth runs parallel to government support and industry conditions. Stratview Research has identified the following companies as the top market players (arranged alphabetically).
- BAE Systems plc
- Elbit Systems Ltd.
- L3Harris Technologies, Inc.
- Raytheon Technologies Corporation
- Thales Group
What Deliverables Will You Get in this Report?
| Key questions this report answers | Relevant contents in the report |
| How big is the sales opportunity? | In-depth analysis of the Weapon Night Sight Market |
| How lucrative is the future? | Market forecast and trend data and emerging trends |
| Which regions offer the best sales opportunities? | Global, regional, and country-level historical data and forecasts |
| Which are the most attractive market segments? | Market segment analysis and forecast |
| Who are the top players and their market positioning? | Competitive landscape analysis, Market share analysis |
| How complex is the business environment? | Porter’s five forces analysis, PEST analysis, Life cycle analysis |
| What are the factors affecting the market? | Drivers & challenges |
| Will I get the information on my specific requirements? | 10% free customization |
For Customization or Any Other Queries, Get in Touch with Our Industry Experts at - sales@stratviewresearch.com
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