A recent report published by Infinium Global Research on night vision device market provides an in-depth analysis of segments and sub-segments in the global as well as regional night vision device market. The study also highlights the impact of drivers, restraints, and macro indicators on the global and regional night vision device market over the short term as well as long term. The report is a comprehensive presentation of trends, forecast and dollar values of global night vision device market. According to the report, the global night vision device market is projected to grow at a CAGR of 8.3% over the forecast period of 2019-2025.
Night vision devices are highly optoelectronic equipment. They are used in ground defense, aerial vehicles, and marine containers. These devices provide multi-spectral imaging, eye tracking, optical directing, and others. The global night vision device market is projected to grow through the forecast period.
The increased applications in military operations coupled with the incorporation of sensor fusion technology are driving the global night vision devices market. The increase in terrorist activities has prompted several governments to strengthen military operations. Innovation in technology and commercial applications of night vision devices plays a key role in the growth of the market across the globe. However, the high cost of night vision devices due to the use of third-generation technology and cuts in the defense budget may restrain the growth of the night vision devices market during the forecast period. Moreover, the use of night vision devices for security and surveillance applications creates an opportunity for the growth of the night vision device market in the next few years.
In terms of region, the global night vision device market is categorized into North America, Europe, Asia Pacific, and the Rest of the World. North America holds the maximum market share and is estimated to dominate the market during the forecast period. This is primarily due to the presence of prominent players and high military budget in the North American region. Furthermore, the adoption of advanced technology is the other key factor that boosts the growth of the night vision device market in the region. The Asia Pacific is projected to grow at a beneficial rate over the forecast period. This is attributed to the use of night vision devices for civilian applications and up-gradation of devices. Also, the growing military budget in emerging countries is the other factor that is expected to fuel the growth of the global night vision device market in the Asia Pacific region.
The report on a global night vision device market covers segments such as product, technology, and application. On the basis of product, the sub-markets include goggles camera, scope, and others. On the basis of technology, the sub-markets include image intensifiers, thermal imaging, and infrared illumination. On the basis of application, the sub-markets include navigation, surveillance, targeting, and other application.
The report provides profiles of the companies in the market such as Collins Aerospace, Thales group, BAE Systems Plc, FLIR® Systems, Inc., Bharat Electronics Limited, Inc., Harris Group Inc., American Technologies Network Corp., Elbit Systems Ltd., and Satir.
The report provides deep insights into the demand forecasts, market trends, and micro and macro indicators. In addition, this report provides insights into the factors that are driving and restraining the growth in this market. Moreover, The IGR-Growth Matrix analysis given in the report brings an insight into the investment areas that existing or new market players can consider. The report provides insights into the market using analytical tools such as Porter's five forces analysis and DRO analysis of night vision device market. Moreover, the study highlights current market trends and provides forecast from 2019-2025. We also have highlighted future trends in the market that will affect the demand during the forecast period. Moreover, the competitive analysis given in each regional market brings an insight into the market share of the leading players.
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