The night vision devices market is expected to register a CAGR of 7.91% over the forecast period (2021 - 2026). The night vision devices provide the soldiers with color images at the low light environment in the field. These devices have also gained popularity among the wildfire researchers in recent years, which is estimated to create more demand for the devices. The technical and application feasibility, such as head-mounted night vision, coupled with reasonable cost, has propelled the demand. These devices enable clear visibility of over 150 to 200 yards at night.

The application of night vision devices is more dominantly toward the military and defense industry. Over the years, countries around the world have been increasing its military and defense budget significantly, which is estimated to drive the market for night vision devices. According to SIPRI, the United States spent over USD 717 billion for its defense activities, followed by China with USD 117 billion, in 2019.

Additionally, the night vision devices are increasingly being adopted by the law enforcement agencies for conducting training activities to ensure mission-ready status of the military troop. In March 2020, MKU, an Indian defense company, announced to release its range of gen-3 night vision devices for police forces. These devices are developed on un-cooled micro bolometer technology and are expected to showcase in the International Police Expo, to be held in May 2020.

Companies, like BAE Systems PLC and L3Harris Communication, among others, are few companies having a contract from the US Army, and are developing night vision devices to gain increased revenue. However, as these devices are subjected to costly maintenance, it is restricting the market growth to an extent.

Key Market Trends

Surveillance Applications to Hold Significant Share

- The primary functions of the video surveillance system are to capture, process, manage, store, and view recordings and images captured by the system. Technological advancements in the video surveillance industry have led to the development of night vision cameras that are designed to work in low-lit areas. According to WHO, around 1.25 million people die every year in road accidents, globally. The deployment of video surveillance in road networks can help officials manage traffic in a better way and identify the causes of road accidents.

For sample report please visit: https://www.statzyreports.com/report/sr497466/night-vision-devices-market

- Amid the ongoing community spread of COVID-19 across the world, in March 2020, the South Diego Chula Vista Police Department announced to invest over USD 11,000 for acquiring two drones equipped with night vision cameras, in order to mitigate the risk of the officers in these areas. The department has mentioned that it is aiming at watching over people living on the streets with these drones, amid the outbreak.
- With the increasing rate of crimes, video surveillance is expected to play a significant role in preventing crime, primarily due to the threat of being detected. For instance, according to the Metropolitan Police, there were around 215.7 thousand violent crime offenses recorded by the police in London in 2018-2019, an increase of approximately 13.8 thousand, as compared to the value registered in 2017-2018.
- As per the UNC Charlotte of Criminal Justice, more than 60% of convicted burglars agreed that they look for the presence of security cameras before entering a residential property, while 40% of burglars agreed that they look for another easier target, in case surveillance cameras are present. The emergence of smart homes has increased the prominence of video surveillance systems in the residential segment, in the past few years. The surveillance systems implemented in this sector have varied applications, such as monitoring and access control. These systems are also equipped with features, such as motion detection and night vision.

North America is Expected to Hold Largest Market Share

- North America is expected to hold the largest market share in the night vision devices market driven by the United States, with the highest spending nation on its military and defense activities and by housing the key vendors in the market, including L3Harris Communication, Flir Systems Inc., American Technology Network Corp., and BAE Systems PLC, among others.
- The governments in the region are exploring the nighttime firefighting activities with improved technologies, such as night vision devices to enhance their nighttime aerial firefighting capabilities. Night vision technology enables the safe operation of aircraft at night. In July 2019, the Orange County Fire Authority teamed up with Coulson Aviation, by investing over USD 4 million to introduce firefighting helicopters to respond to call in California. These helicopters are equipped with night vision devices for pilots and have a capacity of 1,000 gallons of water.
- In September 2019, US Marine Corps partnered with L3Harris Communication, for the upgradation of their helmet-mounted night vision system. The contract worth USD 249 million for five years, includes the purchase of Squad Binocular Night Vision Goggle (SBNVG), which consists of a binocular image intensifier night vision goggle with a modular uncooled thermal imaging sensor, to give marines better depth perception during maneuvers.

Competitive Landscape

The market for safety laser scanner is moderately consolidated with the presence of a few major companies dominating the market. These companies are continuously investing in making strategic partnerships with governments and product developments to gain more market share. The stringent government regulation, coupled with high manufacturing cost, is increasing the competition among these players.

- February 2020 - Thales Group announced to partner with MKU, an India-based defense company, to develop the ELFIE night vision device (NVD) for armed forces in India and the world. ELFIE is a lightweight monocular and has the most extensive field of view, providing better mobility and night combat capability. It is designed to use for left or right eye use and provides stereoscopic vision in a binocular configuration, especially for vehicle drivers, paratroopers, and special forces operators.

- May 2019 - L3Harris Communication introduced its Ground Panoramic Night Vision Goggles (GPNVGs). The devices from the company are featured with four image intensification (I2) tubes and are enhanced with an integrated fused infrared (IR) overlay. It has capabilities of augmented reality (AR) and wireless connectivity.

Reasons to Purchase this report:

- The market estimate (ME) sheet in Excel format
- 3 months of analyst support


For sample report please visit: https://www.statzyreports.com/report/sr497466/night-vision-devices-market