Weapon Night Sight Market Analysis | 2023-2028

Market Insights

The weapon night sight market is expected to grow at a CAGR of 5.1% from 2023 to 2028, reaching USD 3.2 billion by 2028.

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Market Dynamics

Introduction

Weapon night sights provide a major operational edge in the current generation of warfare, meeting the needs of dismounted soldiers, marksmen, and snipers. These sighting devices can be mounted on a variety of weapons and small arms. They aid in accurate target detection, in poor light conditions, and during nighttime, providing vital information for the execution of military operations.

These systems are integrated with the guns carried by armed troops and military vehicles. They provide clearer images and present an effective field of view for dismounted soldiers and vehicles for enemy sightings and combat operations. These weapon night sights are used by military forces across the globe to execute successful stealth military operations.

Market Drivers

There has been an unprecedented demand for weapon night sights in recent years as several military operations, such as counterterrorism and anti-militant missions, occur at night or under poor visibility conditions. As a result, there have been significant investments directed at these systems by the defense authorities, which has radically influenced market growth. 

Recent Product Developments

A few new weapon night sights have been launched by the manufacturers in recent years. For instance, in December 2021, Thales launched their XTRAIM weapon sight, offering day/night de camouflage capabilities for dismounted soldiers. It is a lightweight device and is compatible with a variety of weapons, such as light machine guns and shoulder-fired assault rifles, providing soldiers with an unparalleled, precise night-firing capability.

Recent Contracts and Agreements: There have been several investments in the defense industry directed at weapon night sights in recent years, which would boost the overall market. Some of them have been mentioned below:

• In June 2023, Leonardo DRS received a five-year contract worth over US$ 94 million, to produce its next-generation infrared weapon sights for the US Army infantry snipers. Under the contract, the company would produce the family of weapon sights – sniper, improved night/day observation device block III.
• In October 2022, Leonardo DRS was awarded a five-year contract worth US$ 579 million, for the production of next-generation thermal weapon sights for the US Army.

• In January 2019, EOTech, a division of L3Harris Technologies, Inc., signed a five-year contract worth US$ 26.3 million with the US Special Operations Command (USSOCOM), to provide the US armed troops with the latest holographic weapon sights and G33 clip-on magnifier optics.

Recent Market JVs and Acquisitions: Over the past few years, there have been a fair number of strategic alliances, including M&As, JVs, etc., across the globe. Some of them have been mentioned below:

• In May 2021, Teledyne Technologies, Inc. completed the acquisition of FLIR Systems, Inc. The company currently operates under the name of Teledyne FLIR LLC.

• In July 2020, Raytheon Corporation merged with United Technologies Corporation to form Raytheon Technologies Corporation. This merger of equals is the defense sector's largest-ever merger in terms of value.
• In June 2019, L3 Technologies had an all-stock merger with Harris Corporation, which led to the formation of L3Harris Technologies, Inc.
• In September 2019, Elbit Systems of America, LLC, a subsidiary of Elbit Systems Ltd., successfully acquired Harris Corporation's night vision business for $350 million.

Segment Analysis

By Product Type

“Gun-mounted weapon night sight holds the dominant share and is also likely to continue its supremacy throughout the forecast period”.

• The market is segmented into gun-mounted and vehicle-mounted weapon night sights.
• It is primarily due to its wide usage, lower cost, portability features, and easy-to-use interface. These systems are largely used by the armed forces during stealth missions.

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By Technology Type

“Weapon night sights embedded with thermal technology have generated a large demand”.

• The market is classified as image intensification technology, thermal technology, and fusion technology. All three technology types are further bifurcated with the sole aim of providing a panoramic view of the market. Image intensification is divided into generations I-III and IV systems. Similarly, thermal night sights are segmented into SWIR, MWIR, and LWIR, and fused night sights into optical and digital image integration.
• In recent years, weapon night sights embedded with thermal technology have generated a large demand. This is because the performance of thermal weapon sights is not affected by the absence of a light source, as they work exclusively on detecting the heat radiation of the target and their surroundings. Therefore, with the increasing anti-terrorism missions across the globe, the demand for thermal weapon night sights is expected to increase.

By Platform type

“The ground-based platform is likely to continue to be the major demand generator for weapon night sights in the coming years”.

• The market is bifurcated into ground-based, air-based, and naval-based platforms.
• As these devices are frequently used by dismounted soldiers for enhanced night-firing capabilities in several ground-based combat missions, the ground-based platform is likely to continue to be the major demand generator for weapon night sights in the coming years.

Regional Analysis

“North America is likely to maintain its supremacy in the weapon night sight market throughout the forecast period”.

• As the weapon night sights substantially augment the night-firing capabilities of the armed forces, the US DoD has been extensively investing in them. Moreover, the region is the home to the major companies in the market such as L3Harris Technologies, Inc., Raytheon Technologies Corporation, and Elbit Systems of America, LLC, which are among the major contractors for the regional defense authorities.

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Key Players

There is stiff competition in the weapon night sight market. The companies differentiate their products based on technology, type, and quality. Their overall market growth runs parallel to government support and industry conditions. In recent years, there have been several mergers and acquisitions (such as the purchase of the night vision business unit of Harris Corporation by Elbit Systems of America, LLC, the merger of United Technologies and Raytheon, and the all-stock merger of L3 Technologies and Harris Corporation). The overall competitive landscape has been significantly influenced as a result of these mergers and acquisitions. The following are the key players in the weapon night sight market:

• L3Harris Technologies, Inc.
• BAE Systems plc
• Elbit Systems Ltd.
• Raytheon Technologies Corporation
• Thales Group

Note: The above list does not necessarily include all the top players in the market.

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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 market dynamics and will enable strategic decision-making for 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, Service portfolio, New Product Launches, etc.
• COVID-19 impact and its recovery curve
• Attractive market segments and associated growth opportunities.
• Emerging trends.
• Strategic growth opportunities for the existing and new players.
• Key success factors.

Market Segmentation

This report studies the market, covering 12 years of trend and forecast. The report provides detailed insights into the market dynamics to enable informed business decision-making and growth strategy formulation based on the opportunities present in the market.

The weapon night sight market is segmented into the following categories:

By Product Type 

• Gun-Mounted Weapon Night Sight 
• Vehicle-Mounted Weapon Night Sight

By Technology Type 

• Image Intensification Technology 
• Thermal Technology
• Fusion Technology 

By Platform Type 

• Ground-based Platform
• Air-based Platform
• Naval-based Platform

By Region 

• North America (Country Analysis: The USA, Canada, and Mexico)
• Europe (Country Analysis: Germany, France, The UK, Russia, and the Rest of Europe)
• Asia-Pacific (Country Analysis: China, India, Australia, South Korea, and the Rest of Asia-Pacific)
• Rest of the World (Country Analysis: Saudi Arabia, Brazil, and Others)

Research Methodology

• This strategic assessment report, from Stratview Research, provides a comprehensive analysis that reflects today’s weapon night market realities and future market possibilities for the forecast period. The report segments and analyzes the market in the most detailed manner to provide a panoramic view of the market. The vital data/information provided in the report can play a crucial role for market participants as well as investors in the identification of the low-hanging fruits available in the market as well as to formulate 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 10 detailed primary interviews with market players across the value chain in all four regions and industry experts to obtain both qualitative and quantitative insights.

Customization Options

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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

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