Night Vision Devices Market Analysis:By Type (Night
Vision Goggles, Night Vision Monocular, Night Vision Binocular); Components
(Image Intensifier Tubes, Micro Channel Plates); Application (Military,
Security, Surveillance, Search and Rescue) - Forecast (2015 -2020)
According to IndustryARC’s report on Night vision devices, the market is estimated to grow to $20.5
billion in 2020 at a CAGR of 7%. The growing demand for night vision devices in the commercial sector is set to drive the
market primarily. The increased technological advancements in areas such as
focal plane arrays, image intensifier tubes are also set to propel the usage of
night vision devices. The night vision device market is led by companies such
as FLIR Systems, Inc. (U.S), American Technologies Network Corp. (U.S), L-3
Warriors System, Inc. (U.S), Exelis Inc. (U.S) and Raytheon Corporation (U.S).
Other companies including SAT Infrared
Technology (China), Finmeccanica (Italy), Airbus Group (France) and Northrop
Grumman (U.S) are challenging these leading companies for market position.
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The Americas region is the largest geographic segment for Night vision devices globally followed
by the APAC region. However APAC region is poised to grow at the highest CAGR
through 2020 due to increased military spending in this region, particularly by
China. The market for night vision devices in Europe is forecast to grow at a slow
rate due to a sluggish return to economic stability and currency fluctuations
due to depreciation of the Euro.
Table of contents and insights:
The night vision device
market has also been segmented based on device category such as cameras,
goggles and scopes. The night vision
goggles market accounts for a large share closely followed by the night
vision camera market. The growing applications for night vision goggles for
hidden object detection as well as by law enforcement agencies, particularly in
the U.S, has resulted in a higher market standing and penetration. The growth
of the security and surveillance markets
meanwhile has propelled adoption of night
vision cameras. The surveillance system has become a necessary technology
to keep up the safety and security of the organizations and individuals assets
in both governmental and commercial markets. The night vision scope market is primarily used in military and hunting
applications and is forecast to grow at a significant rate buoyed by the
considerable price decline for night vision scopes. These scopes are set to
decline by 38% over the next five years and thus have comparable prices with
holographic scopes, thereby resulting in an increased usage of these devices. The price of night vision devices is set to
considerably drop across all applications through 2020.
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The top 5 companies in terms of revenue operating in the night vision device market are FLIR Systems, Inc. (U.S), American Technologies Network Corp. (U.S), L-3
Warriors System, Inc. (U.S), Exelis Inc. (U.S) and Raytheon Corporation (U.S). They account for around 70% of the total market. The companies
operating in the market are evolving their product offerings with the changing
technology. The technological innovations at the forefront of the market
combined with growing demand for various applications have resulted in the
development of new products to cater to specific applications. For instance ATN
Corp introduced a Gen 3 PVS14-3 Night Vision camera for law enforcement and
security professionals. Companies have looked to capture market position in
this dynamic and growing market.
The declining prices and growing applications of night vision devices are set to propel
the growth of the market. The growth of this market can also be attributed to
the improved technology as well as increased usage of night vision cameras in the commercial markets. The increased
customer demand for night vision devices in the APAC military segment is set to
drive the night vision device market.
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