Market Highlights

At US$ 8.79 billion in 2021, the global night vision devices market is predicted to increase at a compound annual growth rate (CAGR) of 9.4% from 2022 to 2028, reaching US$ about $15.49 billion.

Night Vision Devices Market CAGR

2022-2028

CAGR OF

9.4%

Night Vision Devices Market

A night vision device's initial cost goes up when more sophisticated technological systems and equipment are installed. Furthermore, a number of competitors in the market are offering lightweight components and materials for the production of night vision systems, however their costs can occasionally be higher. The goal of this is to lower overall weight. Furthermore, the majority of airline operators have not been able to turn a significant profit because of lockout limits and the COVID-19 pandemic. New, state-of-the-art night vision gadgets are expected to become more and more in demand worldwide as military technology advances. Over the course of the projected period, there is expected to be an increase in demand for night vision equipment globally due to the military, paramilitary, and other security forces becoming more cautious due to growing safety and security concerns in various forms.

The global night vision devices market has experienced significant changes in recent years due to rapid advancements in technology. Businesses, the government, and the army are continually attempting to produce wireless night vision gadgets to boost troops' agility and situational awareness. The creation of small, light-weight, and power-efficient night vision devices, along with their incorporation into other gear like tactical headphones and guns, are crucial advancements in preserving the night vision devices market leadership.

In order to provide a clear image in low light, night vision devices (NVDs) basically work by enhancing gamma, infrared, and ultraviolet light. These systems enable navigation and aiming through the utilization of an objective lens, an image intensifier tube (IIT) screen, an eyepiece, and a power supply. NVDs rely on the objective lens to capture light rays coming from the topic and assist concentrate them there in order to form a picture on the IIT screen. Because of their advantages, security services frequently deploy these devices to improve night vision.

Night Vision Devices Market

By Technology

Infrared Illumination

Thermal Imaging

Image Intensifier

The Market will Grow

At the CAGR of:

9.4%

The Forecast Market

Size for 2028 in USD:

$15.49B

Up to a certain point, the electromagnetic spectrum is visible to the human eye. Human eyes cannot detect light or infrared rays on their own. This brings in the night vision device, which helps with night vision through thermal imaging and image enhancement. The majority of this night vision gear is optoelectronic. It helps with seeing at night. It also provides multispectral imaging, optical direction, eye tracking, and other services. They are used in aerial aircraft, ground defense, and maritime containers. The night vision devices market is expected to grow as a result of technological developments and high demand from the military sector.

The expensive cost of the night vision equipment further hampers the market's progress. Large investments are also required for the night vision equipment. As a result, it is projected that the high costs and required investments will further impede the night vision devices market expansion over the projection period. More barriers to the market's rapid development will come from a lack of technological know-how and competent labor, especially in developing and underdeveloped countries. As a result, it is anticipated that a significant obstacle for the night vision device industry over the estimated time will be a lack of technical proficiency. A noteworthy impediment to the overall growth of the night vision devices market is the reduced accessibility in developing economies.

Recent years have seen a number of directives and investments in the sector that should expand the market as a whole. Among them are: The night vision devices market is expected to increase at a faster rate in the future due to the predicted economic opportunities presented by the developing thermal imaging and infrared technologies. With the rapid advancement of technology, wearable night vision equipment—such as enhanced night vision goggles (ENVG)—that integrate thermal imaging into their design are becoming increasingly essential. Helmets with goggles, cameras, and other thermal gear attached have dominated the night vision devices market. Additionally, industry participants are creating new technologies for applications like aviation, which present a variety of prospects for market advancement. Additionally, companies in the region are exploring new technologies for applications like aviation. In March 2022, the military was given access to a 27-inch ShadowSense touch screen by Canadian technology company Baanto International. Because this touchscreen satisfies the standards of Night Vision Imaging Systems (NVIS), mission deployment is possible regardless of the quantity of incoming light.

Market Segment Analysis

Night Vision Devices Market

By Type

xx%

Rifle Scope

Camera

Goggles

Monoculars and Binoculars

8.79

Total Market Size

USD (Billion), 2022

9.4%

CAGR

2022 - 2028

Market segments for night vision devices market include product, technology, and application. The product category may include binoculars and clips, as well as cameras, scopes, and other goods. Goggles can be both monocular and bi-ocular. The detachable functionality and lightweight design of goggles have allowed them to capture a disproportionately high share of the market for night vision equipment. This requirement is expected to support the market's continuing growth for night vision equipment in the years to come. Thermal imaging, image intensifiers, and infrared lights comprise the next category of technology. Image intensifier technology is expected to grow quickly because it is less expensive than thermal imaging.

Based on application, the night vision devices market is further separated into navigation, targeting, surveillance, and other areas (security and hunting). Owing to the unmanned aerial vehicle industry's explosive growth, the night vision devices market is dominated by the aircraft and CCTV surveillance sectors. A regional analysis is conducted on the markets for night vision devices in North America, Europe, Asia-Pacific, Latin America, the Middle East, and Africa (LAMEA).

Night Vision Devices Market

By Region

The Market will Grow

At the CAGR of:

9.4%

The Forecast Market

Size for 2028 in USD:

$15.49B

North America is expected to hold the largest market share in the night vision devices market because it is home to the major market players, such as Flir Systems Inc., American Technology Network Corp., BAE Systems PLC, and L3Harris Communication, and it spends the most on military and defense-related activities. The governments in the area are looking at using modern technology, such as night vision equipment, for nighttime firefighting operations in order to enhance their ability to combat airborne fires at night. The use of night vision technology allows aircraft to fly at night safely. The Orange County Fire Authority teamed with Coulson Aviation and invested more than USD 4 million in July 2019 to bring firefighting helicopters to respond to emergencies in California.
Due to increased investment in the aerospace and military, there will likely be a boom in the market for night vision equipment in the Asia-Pacific area. North America holds the biggest market share for night vision devices.

Key Players

In the night vision devices market, there is fierce competition. The state of the sector and government assistance have a direct impact on the companies' growth. The quality and penetration of these firms' night vision products in both target and emerging markets serve as differentiators. Additionally, a few recent large mergers and acquisitions in the sector have had a big impact on the competitive dynamics.
As an illustration:
• Thales unveiled XTRAIM, a revolutionary weapon sight with day/night decamouflage capabilities that required the use of multiple pieces of equipment, in December 2021. Because it works with all shoulder-fired assault rifles (HK416) and small machine guns (Minimi), its users can shoot accurately at night.
• In May 2021, Uber revealed a new night vision camera. It can be attached to your jacket, waist, back pocket, or any other convenient location as a wearable body camera by using the incredibly small device that doubles as a smartphone attachment. The Sony STARVIS IMX307 night vision camera is ideal for low-light, nighttime, and videography photography due to its highly sensitive CMOS image sensor. 
These mergers and acquisitions have had an impact on the competitive landscape as a whole. In the night vision devices market, the following companies dominate:
The following companies: Collins Aerospace; Meopta U.S.A., Inc.; Thales Group; American Technologies Network Corporation; BAE Systems; L3Harris Technologies, Inc.; Elbit Systems Ltd.; FLIR Systems, Inc.; Newcon Optik; Yukon Advanced Optics Worldwide

Night Vision Devices Market Scope: