Night vision devices facilitate the capability to see in low intensity or dark light. There have been major technological advancements and developments in the area of electronics & optics that have endorsed production of night vision devices in order to assist in intensifying the images that are unlikely to be seen with bare eyes. These devices have been very significant in the field of military and defense, the equipment's including night vision cameras, goggles, and scopes provide assistance to the soldiers during low light or dark conditions.
MARKET SCOPE
The "Global Night Vision Device Market Analysis to 2028" is a specialized and in-depth study of the aerospace and defense industry with a special focus on the global market trend analysis. The report aims to provide an overview of the night vision device market with detailed market segmentation by component type, material, and geography. The report provides key statistics on the market status of the leading night vision device market players and offers key trends and opportunities in the market.
MARKET SEGMENTATION
? On the basis of device type, the market is segmented as camera, scope and goggle.
? Based on technology, the market is segmented into thermal imaging, image intensifier and infrared illumination.
? On the basis of end-user, the market is segmented as military and law enforcement agencies.
MARKET DYNAMICS
Drivers:
? The key factors driving the growth of night vision device market include, rising military expenditure & modernization, increased requirement of advanced and enhanced night vision devices, and emerging technology.
? Moreover, factors such as wireless technology allied with night vision devices, development of night vision devices through thermal imaging, and lightweight night vision devices are the major trends that are expected to provide significant opportunities for night vision device market to grow. High initial cost and budgets cut have led to reduced procurement of night vision devices that may in turn hamper the night vision device market growth.
Restraints:
? High initial cost and budgets cut have led to reduced procurement of night vision devices that may in turn hamper the night vision device market growth.
REGIONAL FRAMEWORK
The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides an overview and forecast of the global market based on various segments. It also provides market size and forecast estimates from the year 2019 to 2028 with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), and Rest of the World (RoW). The night vision device market by each region is later sub-segmented by respective countries and segments. The report covers the analysis and forecast of 17 countries globally along with the current trend and opportunities prevailing in the region.
The report analyzes factors affecting the market from both demand and supply side and further evaluates market dynamics affecting the market during the forecast period i.e., drivers, restraints, opportunities, and future trends. The report also provides exhaustive porter's five forces analysis affecting the night vision device market.
IMPACT OF COVID-19 ON NIGHT VISION DEVICE MARKET
The original cost of night vision device rises as modern technology-based systems and equipment are installed. Furthermore, in order to minimize overallweight, various market competitors are offering lightweight materials and components to build night vision devices, which are often associated with a greater cost. Furthermore, most airline operators have unable to produce significant money as a result of the COVID pandemic and lockout restrictions. Growing military technical advancements are likely to stimulate demand for new and innovative night vision gadgets all around the world. The military, paramilitary, and other security forces have become more cautious as a result of increasing safety and security threats in various forms, which is likely to increase global demand for night vision devices over the forecast period.
MARKET PLAYERS
The report covers key developments in the night vision device market as organic and inorganic growth strategies. Various companies are focusing on organic growth strategies such as product launches, product approvals and others such as patents and events. Inorganic growth strategies activities witnessed in the marketwere acquisitions, and partnership & collaborations. These activities have paved way for the expansion of business and customer base of market players. The market payers from night vision device market are anticipated to lucrative growth opportunities in the future with the rising demand for night vision device in the global market.
The report also includes the profiles of key companies along with their SWOT analysis and market strategies in the night vision device market. In addition, the report focuses on leading industry players with information such as company profiles, components, and services offered, financial information of the last 3 years, the key development in the past five years.
? American Technologies Network Corporation
? BAE Systems
? Elbit Systems Ltd.
? FLIR Systems, Inc.
? L3Harris Technologies, Inc.
? Collins Aerospace
? Meopta U.S.A., Inc.
? Newcon Optik
? Yukon Advanced Optics Worldwide
? Thales Group