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)
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41 Market Tables, 79 Figures spread through 232 Pages and an in-depth TOC on “Night Vision Devices Market”:
Military applications are the key end use industry for night vision devices (NVDs). Night
vision devices and other electro optical products are used across the defence
market for various applications including surveillance, combat, training and
intrusion detection. NVDs are reliably been altered to perform tasks ranging
from secret ground operations to avionics, effectively making meticulous and
more adaptable devices for the army. Night
vision devices are extensively utilized in the military, however this
application is set to exhibit extremely slow growth over the next few years.
The use of night vision
devices is prevalent in the militaries of developed nations. Developed
economies such as The U.S., The U.K., Russia, Germany and many more have
adopted night vision systems technology and
are extensively using the device for regular missions and operations. India,
China, Indonesia and many other developing economies are investing heavily in
upgrading their military requirements.
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The night
vision device market generated revenue of $5.89 billion in the military market
in 2014. This market is estimated to grow
at a low rate of nearly 2% CAGR through 2020. The major market for night vision
devices for this application is North America with U.S leading the charge. The
wide range of uses and declining costs offered in RTLS has led to the
military’s utilizing these systems. However the military budgets of western
countries in recent years have declined. This will result in slow growth of the
military segment, even with the APAC market exhibiting significant adoption
increase.
The declining
military budgets will lead to lower spending on night vision devices in the
western countries. U.S accounts for a large share of the military night vision device market and the
declining spending in this market will have a significant impact on the market.
Leading companies such as Exelis, Raytheon Corporation and FLIR Systems have
looked to ink deals with foreign militaries in order to offset the declining
orders from the U.S Department of Defence (DoD). According to governmental
analysts, U.S will spend nearly $1.1
billion on night vision devices with a shift to surveillance night vision
devices. This will represent a significant downturn from the current U.S
military spending on night vision devices. The European military budget is also
set to decline with Italy, Germany, France and U.K leading the shift. The NVDs
intended for application in military still face several issues regarding their
performance such as focal shift, color, multispectral range, sensitivity and
range compatibility. Thus these will find lower application in the declining
military budgets of European countries.
However the
APAC military segment will propel the market through 2020. The growing
technological advancements which result in lower price and improved sensitivity
will propel the adoption in these militaries. Declining prices of night vision devices will make the
adoption of these systems rise, particularly in cost sensitive APAC market. As
a result, night vision devices will have a bigger potential market. The growing
military budgets in this region led by the Chinese market will spur the
adoption of night vision devices. Soldier of the Future initiatives such as
China’s ‘One Man Army’ and India’s ‘Futuristic Infantry Soldier’ will result in
growing adoption of advanced technologies such as Gen 3 night vision devices
for surveillance, combat and monitoring. The Brazilian military will also play
a key part in the global night vision
device market spurred by the increased usage of night vision devices in the
airforce.
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China and India are investing substantial amount of money to
enhance their military capabilities at both technological and equipment level.
China is the world’s 2nd largest country in terms of military
expenditure. The Chinese army is focusing on advanced technologies such as Night vision glasses and Thermal
imaging. Indian army has recently sanctioned an order of 5000 night vision
systems and 1.780 thermal imaging systems for their Special Forces as well as
for main battle tank operations from Exelis (U.S). In the next five years,
countries such as India, Indonesia, Japan will be transforming their military by
these modern night vision devices.
The declining military budgets in the western countries will
result in a significant shift in the landscape of the night vision device market, particularly for military applications.
The growing military budgets in APAC region will also result in increased focus
from night vision device companies on
this market. This will result in devices geared particularly for the Asian
militaries. The shift in military spending will change focus from Americas and
Europe to the growing APAC market.
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