Market Highlights
A night vision device improves vision in low-light or no-light environments or during night operations. These devices were introduced during the 2nd World War and have been increasingly used thereon. These devices are becoming popular in military applications, enabling soldiers to execute various military tasks without putting their lives at greater risk. Moreover, with the increasing political stalemates, rising border conflicts, and the growing threat of terrorism in recent years, there has been a hefty increase in the overall production and deployment of these night vision devices for military personnel.
As several military operations such as counter-terrorism and anti-militant missions occur during the nighttime, the procurement of night vision devices becomes of paramount significance for all the defense authorities across the globe. In line with this, there have been several investments in the defense industry directed at night vision devices in recent years, which would boost the overall market. Some of them are:
- In September 2021, L3Harris Technologies, Inc. signed a contract worth US$ 100 million with the US Army, to deliver the enhanced night vision goggle-binocular (ENVG-B) systems. These fused systems provide the soldiers with enhanced situational awareness, enabling them to accurately target, engage, and neutralize threats, without the risk of exposure.
- Similarly, in July 2021, the Organisation Conjointe de Cooperation en matière d’Armement (OCCAR) signed a multi-million-dollar contract with the consortium of HENSOLDT and THEON SENSORS for the production and delivery of the advanced Binocular Night Vision Goggles (BNVG) for the Belgian and German armies.
As a result of that, the overall night vision device market is estimated to grow at a decent CAGR of 4.5% during the forecast period to reach a value of US$ 8.1 Billion in 2027.
Market Segments' Analysis
Based on the platform type, the market is bifurcated into ground-based NVDs, air-based NVDs, and naval-based NVDs. Among these platform types, the ground-based platform is likely to continue as the major demand generator for night vision devices in the foreseen future as these devices are frequently used by the dismounted soldiers for every ground-based operation and mission. Moreover, a number of counter-terrorism missions occur in low-light environments or during night time, which simultaneously increases the usage of night vision devices. In the current Russia-Ukraine war, there has been a large usage of these devices by the Russian as well as Ukrainian armies.
Similarly, based on the technology type, the market is classified as image intensification technology, thermal technology, and fusion technology. At present, thermal technology is in larger demand for night vision devices as compared to image intensification and fusion technology. Over the years, thermal imaging devices have proved to be excellent tools for night vision, as they detect thermal radiation and translate the heat into a picture, without using a source for illumination. Unlike image intensification, this technology can work in absolute darkness and penetrate through fog, rain, mist, and smoke to a large extent. Therefore, with the increasing focus on curbing terrorism and with the growing border disputes across the globe, the demand for night vision devices equipped with this advanced technology is expected to intensify.
Based on the product type, the market is segmented as night vision goggles, weapon night sight, and handheld thermal imagers. Among these product types, the night vision goggle segment accounts for the largest market share. The goggles are used in large volumes as they are deployed across every soldier, who is engaged in a military operation or mission. They enable the soldiers to see through dark or no-light environments and are also capable to penetrate through the mist, fog, rain, and smoke. As a result, these night vision devices form the major demand generator across the globe.
In terms of regions, North America is expected to maintain its dominance in the night vision device market throughout the forecast period. This is attributed to the extensive investments made by the US DoD on these devices with the companies such as L3 Harris Technologies, Inc., Raytheon Technologies, and Elbit Systems Ltd. Moreover, the US is the supreme military spender globally, accounting for more than 1/3rd of the total military expenditure.
Concurrently, Asia Pacific is expected to witness the fastest growth in the night vision device market in the coming years. The key factors responsible for the swift growth are increased demand for night-vision goggles and weapon night sights by the regional military forces and a continuous rise in the overall military expenditure, especially in China and India.
Key Players
In recent years, there has been stiff competition in the night vision device market. The companies generally compete in terms of product quality and geographical reach. With the large demand for thermal technology, a number of companies produce and provide thermal night vision devices to the armed forces, which further increases the market competition. Also, there have been some major mergers and acquisitions in the industry in recent years, which has affected the overall competitive scenario of the market. For example
- In April 2020, Raytheon Corporation merged with United Technologies Corporation, to form Raytheon Technologies. This merger of equals is the defense sector's largest-ever merger, in terms of value.
- In September 2019, Elbit Systems of America, LLC completed the acquisition of the night vision business of Harris Corporation (now L3Harris Technologies, Inc.) for US$ 350 million.
- Likewise, in June 2019, L3Harris Technologies, Inc. announced an all-stock merger of L3 Technologies and Harris Corporation.
The entire competitive dynamics have significantly been influenced as a result of these mergers and acquisitions. The following are some of the major players in the night vision device market:
- L3Harris Technologies, Inc.
- BAE Systems
- Thales Group
- Elbit Systems Ltd.
- Raytheon Technologies
Research Methodology
This strategic assessment report, from Stratview Research, provides a comprehensive analysis that reflects today’s night vision device market realities and future market possibilities for the forecast period of 2022 to 2027. The report segments and analyzes the market in the most detailed manner in order to provide a panoramic view of the market. The vital data/information provided in the report can play a crucial role for the market participants as well as investors in the identification of the low-hanging fruits available in the market as well as to formulate the growth strategies to expedite their growth process.
This report offers high-quality insights and is the outcome of a detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders, and validation and triangulation with Stratview Research’s internal database and statistical tools. More than 1,000 authenticated secondary sources, such as company annual reports, fact books, press releases, journals, investor presentations, white papers, patents, and articles, have been leveraged to gather the data. We conducted more than 15 detailed primary interviews with the market players across the value chain in all four regions and industry experts to obtain both qualitative and quantitative insights.
Report Features
This report provides market intelligence in the most comprehensive way. The report structure has been kept such that it offers maximum business value. It provides critical insights into the market dynamics and will enable strategic decision making for the existing market players as well as those willing to enter the market. The following are the key features of the report:
- Market structure: Overview, industry life cycle analysis, supply chain analysis.
- Market environment analysis: Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis.
- Market trend and forecast analysis.
- Market segment trend and forecast.
- Competitive landscape and dynamics: Market share, Product portfolio, New Product Launches, etc.
- Attractive market segments and associated growth opportunities.
- Emerging trends.
- Strategic growth opportunities for the existing and new players.
- Key success factors.
The night vision devices market is segmented into the following categories:
Night Vision Device Market, by Platform Type
- Ground-based NVD (Regional Analysis: North America, Europe, Asia-Pacific, and Rest of the World)
- Air-based NVD (Regional Analysis: North America, Europe, Asia-Pacific, and Rest of the World)
- Naval-based NVD (Regional Analysis: North America, Europe, Asia-Pacific, and Rest of the World)
Night Vision Device Market, by Technology Type
- Image Intensification Technology
- Regional Analysis: North America, Europe, Asia-Pacific, and Rest of the World
- Generation-Type Analysis: Gen I-III and Gen-IV
- Thermal Technology
- Regional Analysis: North America, Europe, Asia-Pacific, and Rest of the World
- Technology-Type Analysis: SWIR, MWIR, and LWIR
- Fusion Technology
- Regional Analysis: North America, Europe, Asia-Pacific, and Rest of the World
- Technology-Type Analysis: Optical Image Integration and Digital Image Integration
Night Vision Device Market, by Product Type
- Night Vision Goggle (Regional Analysis: North America, Europe, Asia-Pacific, and Rest of the World)
- Weapon Night Sight (Regional Analysis: North America, Europe, Asia-Pacific, and Rest of the World)
- Handheld Thermal Imager (Regional Analysis: North America, Europe, Asia-Pacific, and Rest of the World)
Night Vision Device Market, by region
- North America (Country Analysis: The USA, Canada, and Mexico)
- Europe (Country Analysis: Germany, France, The UK, Russia, and Rest of Europe)
- Asia-Pacific (Country Analysis: China, Japan, India, South Korea, and Rest of Asia-Pacific)
- Rest of the World (Country Analysis: Brazil, Saudi Arabia, Israel, and Others)
Report Customization Options
With this detailed report, Stratview Research offers one of the following free customization options to our respectable clients:
Company Profiling
- Detailed profiling of additional market players (up to three players)
- SWOT analysis of key players (up to three players)
Competitive Benchmarking
- Benchmarking of key players on the following parameters: Product portfolio, geographical reach, regional presence, and strategic alliances
Custom Research: Stratview research offers custom research services across the sectors. In case of any custom research requirement related to market assessment, competitive benchmarking, sourcing and procurement, target screening, and others, please send your inquiry to sales@Stratviewresearch.com
