CHICAGO, Oct. 19, 2023 /PRNewswire/ — The global night vision devices market is expected to be valued at USD 7.5 billion in 2023 and is projected to reach USD 11.2 billion by 2028; it is expected to grow at a CAGR of 8.4 % from 2023 to 2028 according to a new report by MarketsandMarkets™. The need for advanced night vision capabilities for surveillance, security, and targeting in low-light or nighttime conditions, increasing demand for devices in police, border patrol, and security personnel to enhance their ability to monitor and respond to threats in low-light or nighttime situations, which is crucial for public safety is driving the growth of the night vision devices market.
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Browse in-depth TOC on “Night Vision Device Market”
177 – Tables
56 – Figures
215 – Pages
Night Vision Device Market Report Scope:
|
Report Coverage |
Details |
|
Market Revenue in 2023 |
$ 7.5 billion |
|
Estimated Value by 2028 |
$ 11.2 billion |
|
Growth Rate |
Poised to grow at a CAGR of 8.4% |
|
Market Size Available for |
2019–2028 |
|
Forecast Period |
2023–2028 |
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Forecast Units |
Value (USD Million/Billion) |
|
Report Coverage |
Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
|
Segments Covered |
By Product Type, Technology, Mounting Type, Application & Region |
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Geographies Covered |
North America, Europe, Asia Pacific, and Rest of World |
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Key Market Challenge |
Need for substantial investments in R&D of night vision devices for SMEs |
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Key Market Opportunities |
Increasing government spending on security and surveillance systems to prevent terrorism |
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Key Market Drivers |
Rising need for situational awareness and target identification in military & defense operations |
Portable segment is expected to grow at a significant rate during the forecast period.
Portable night vision devices are experiencing increasing demand due to a range of driving factors. In the military and defense sector, there is a heightened need for night vision capabilities, which play a critical role in surveillance, navigation, and tactical operations during low-light or nighttime conditions. Law enforcement agencies are also adopting these devices to enhance their ability to conduct nighttime surveillance and respond to security threats effectively.Outdoor enthusiasts, including campers, hunters, and wildlife observers, are increasingly turning to portable night vision devices to improve their experiences and safety during nighttime activities. Search and rescue operations benefit from these devices, as they allow responders to locate and assist individuals in emergency situations during the night, improving overall effectiveness. These features positively impact the demand for portable devices in the night vision devices industry.
The law enforcement segment is projected to grow at the highest CAGR during the forecast period.
The law enforcement application segment is projected to grow during the forecast period. Law enforcement applications include military activities, defense operations, and aviation across a range of critical application scenarios. Night vision devices enhance visibility and situational awareness in low-light and nighttime conditions, empowering infantry and special operation forces for offensive and defensive missions. Military pilots utilize night vision goggles for safe low-level flight and air support, while armored vehicle crews benefit from NVDs for threat detection and surveillance.
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Asia Pacific is expected to grow fastest throughout the forecast period.
Asia Pacific, particularly comprise of countries like China, Japan, South Korea, and India. The increasing population and need for security and surveillance in these countries are projected to drive the night vision devices market during the forecast period. The night vision devices market in Asia Pacific is expected to record the highest CAGR during the forecast period. China, Japan, and India are among the major countries driving the night vision devices market in the region. The increasing population and the need for investments in night vision technologies to enhance military capabilities and border security in countries, such as India, China, South Korea, and Japan, are expected to drive the market. China and India stand among 10 countries escalating their military spending for security, surveillance, and counter-terrorism purposes
The night vision devices companies includes significant Tier I and II players such as Teledyne FLIR LLC (US), L3Harries Technologies Inc (US), RTX (US), BAE Systems (UK), Elbit Systems Ltd (Israel), Leonardo S.P.A (Italy), and Thales (France) and so on are some of the key players in the night vision devices market.
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