The night vision devices market is expected to register a CAGR of 7.91% over the forecast period (2020 – 2025). The night vision devices provide the soldiers with color images at the low light environment in the field. These devices have also gained popularity among the wildfire researchers in recent years, which is estimated to create more demand for the devices. The technical and application feasibility, such as head-mounted night vision, coupled with reasonable cost, has propelled the demand. These devices enable clear visibility of over 150 to 200 yards at night.
The application of night vision devices is more dominantly toward the military and defense industry. Over the years, countries around the world have been increasing its military and defense budget significantly, which is estimated to drive the market for night vision devices. According to SIPRI, the United States spent over USD 717 billion for its defense activities, followed by China with USD 117 billion, in 2019.
Additionally, the night vision devices are increasingly being adopted by the law enforcement agencies for conducting training activities to ensure mission-ready status of the military troop. In March 2020, MKU, an Indian defense company, announced to release its range of gen-3 night vision devices for police forces. These devices are developed on un-cooled micro bolometer technology and are expected to showcase in the International Police Expo, to be held in May 2020.
The market for safety laser scanner is moderately consolidated with the presence of a few major companies dominating the market. These companies are continuously investing in making strategic partnerships with governments and product developments to gain more market share. The stringent government regulation, coupled with high manufacturing cost, is increasing the competition among these players.
- February 2020 – Thales Group announced to partner with MKU, an India-based defense company, to develop the ELFIE night vision device (NVD) for armed forces in India and the world. ELFIE is a lightweight monocular and has the most extensive field of view, providing better mobility and night combat capability. It is designed to use for left or right eye use and provides stereoscopic vision in a binocular configuration, especially for vehicle drivers, paratroopers, and special forces operators.
- May 2019 – L3Harris Communication introduced its Ground Panoramic Night Vision Goggles (GPNVGs). The devices from the company are featured with four image intensification (I2) tubes and are enhanced with an integrated fused infrared (IR) overlay. It has capabilities of augmented reality (AR) and wireless connectivity.
For more information, visit https://www.researchandmarkets.com/reports/5012422/night-vision-devices-market-growth-trends-and.