Global Military Night Vision Device Market Size 2024, Forecast To 2033
6 Mar, 2024
The military night vision device market has experienced rapid growth, increasing from $4.39 billion in 2023 to $4.86 billion in 2024, reflecting a compound annual growth rate (CAGR) of 10.9%. The growth in the historic period is attributed to military modernization initiatives, threat perception and national security, counterinsurgency operations, urban warfare and special operations, and global peacekeeping missions. Looking ahead, the market is expected to witness strong growth, reaching $7.07 billion in 2028 with a CAGR of 9.8%. The growth in the forecast period can be attributed to enhanced connectivity and communication, cybersecurity and electronic warfare concerns, rise in asymmetric warfare, focus on energy efficiency, and global climate change considerations. Major trends in the forecast period include thermal imaging technology, integration of augmented reality (AR) features, miniaturization and lightweight designs, digital night vision, fusion night vision systems, and wireless connectivity and data sharing.
Global Military Night Vision Device Market Key Driver
The rising terrorist attacks are expected to propel the growth of the military night vision devices market going forward. Terrorist activities refer to a rise in the number and severity of violent acts committed by individuals or groups to cause harm, fear, or disruption to society. Military night vision systems aid in the prevention of terrorist attacks by enabling military personnel to see in low-light circumstances and detect possible threats before they can carry out an assault. For instance, in March 2023, according to the global terrorism index 2023, in 2022, the deaths per terrorist attack rise by 0.4 on an average in 2022. Terrorist attacks have become more lethal by killing an average of 1.7 people per attack as compared to 1.3 deaths per attack in 2021. Further, in 2022, a total of 6,701 deaths were reported due to terrorist activities. Therefore, the rising terror attacks will drive the military night vision devices market. The market size for military night vision devices in 2023 stood at $XX million and is expected to reach $XX million by 2024, with a projected growth rate of XX%. Additionally, by 2028, the market is forecasted to grow to $XX million.
Get A Free Sample Of The Global Military Night Vision Device Market ReportGlobal Military Night Vision Device Market Segments
The military night vision device market covered in this report is segmented –
1) By Type: Camera, Goggles, Monocular And Binoculars, Rifle Scope, Other Types
2) By Technology: Thermal Imaging, Image Intensifier, Infrared Illumination, Other Technologies
3) By Application: Surveillance, Targeting, Navigation, Other Applications
4) By End User: Military Segment, Civil Segment
By Geography:The regions covered in the military night vision device market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain
Asia-Pacific was the fastest growing region in the military night vision devices market in 2023. The regions covered in the military night vision device market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
Major Military Night Vision Device Industry Players
American Technologies Network Corporation, Teledyne FLIR LLC, L3 Harris Technologies Inc., Thales Group SA, British Aerospace plc, Elbit Vision Systems Ltd., Bharat Electronics Limited, Meopta USA Inc., Newcon Optik, Rockwell Collins Inc., Collins Aerospace, Bushnell Corporation, Luna optics Inc., ABB Ltd., Kuka AG, Armasight, Night Optics USA, Bering Optics, Hard Head Veterans LLC, Custom Night Vision, FLIR Systems Inc., Harris Corporation, ITT Corporation, OpticsPlanet Inc., Yukon Advanced Optics, Sightmark LLC, Carl Zeiss Sports Optics GmbH, Trijicon Inc., US Night Vision Corp., Vortex Optics
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Military Night Vision Device Market Overview
Military night vision devices are a range of devices designed to be used by military personnel to navigate, surveil, and engage targets in low-light or complete darkness. They are used by soldiers to improve visibility in low-light settings, give a tactical edge in the dark, and detect potential dangers before launching an assault.
Military Night Vision Device Global Market Report 2023 provides data on the global military night vision device market such as market size, growth forecasts, segments and geographies, competitive landscape including leading competitors’ revenues, profiles and market shares. The military night vision device market report identifies opportunities and strategies based on market trends and leading competitors’ approaches.