Night vision devices are used in various fields such as military, surveillance, hunting, and navigation, among others. The market for these devices has evolved over the years from what they were at the time of World Wars. They are basically used for high-speed imaging and detecting objects over long distances. The increased frequency of attacks nowadays and various strategies that are being adopted by the companies involved in this market has given rise to some potential growth opportunities.

What Drives the Market?

The night vision device market has grown a lot over the past few years. This market is primarily driven by the following factors:

• Growing technology
• Increasing military expenditure and modernization
• Increased need for technologically-advanced night vision devices

Moreover, the North American market is flourishing, owing to the U.S. being the major driver of the market, mainly because of the advancements and upgradation in technology and deployment of these night vision devices on a large scale. Furthermore, the market in Asia-Pacific is said to be growing rapidly, because of the continuous innovations in technology as well as huge demand for these devices from civil and commercial sectors.

However, the recent economic slowdown may lead to budget cuts in the military sector, thereby slowing down the growth of this market as well. Although, this market may face some challenges, it is expected to exhibit good growth rate in the near future.

A Glimpse of the Market

Expected to grow at a CAGR of 8.8% between 2015 and 2020, the global night vision device market which was valued at USD 5.07 Billion in 2015, is now projected to reach USD 7.73 Billion by the end of 2020. During the forecast period, the North American market is expected to have the largest market share, out of which, the U.S. is the key market. Apart from this, Asia-Pacific is also showing potential growth opportunities, and is projected to grow a fast pace over the coming years.

Among application, the military segmented holds the highest market share, as of now. However, the surveillance segment is estimated to grow at a high CAGR, followed by military segment. Out of the types of devices, the segment of night vision camera held the largest market share in 2015, and is also expected to grow at a high CAGR over the forecast period, followed by the night vision goggle segment.

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Research Scope

The global market for night vision device has been analyzed and forecasted on the basis of following segmentation:

• Device: Night vision camera, Night vision scope, Night vision goggle
• Technology: Thermal Imaging, Image Intensifier, Infrared Illumination
• Application: Military, Surveillance, Security, Hunting, Navigation, Hidden Objects Detection, Paranormal Research, Others
• Region: North America, Europe, Asia-Pacific, South America, RoW

Flir System (U.S.), Exelis Inc (U.S.), L3 communication (U.S.), American Technologies Network Corp. (U.S.), Elbit systems (Israel), and Rockwell Collins Inc. (U.S.), among others are the prominent vendors competing in the global market for night vision devices.