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Night Vision Devices Market to Reach a Market Size of $9.9 Billion by 2025
August 20, 2019 | PRNewswireEstimated reading time: 2 minutes
According to a new report Global Night Vision Devices Market, published by KBV research, The Global Night Vision Devices Market size is expected to reach $9.9 billion by 2025, rising at a market growth of 8.3% CAGR during the forecast period. Night vision devices can detect and identify targets at night and even under poor visibility conditions, which is of very essential benefit for the military environment. The army needs to operate at night under conditions of extremely poor visibility, which has led to major advances in the development of these devices.
The Thermal Imaging market dominated the Global Night Vision Devices Market by Technology 2018, growing at a CAGR of 7.5 % during the forecast period. The Imaging Intensifier market is expected to witness a CAGR of 9.2% during (2019 - 2025). Additionally, The Others market is expected to witness highest CAGR of 11.7% during (2019 - 2025). The growing need of contemporary armies to function at night and under bad visibility circumstances has resulted to important advances in night vision devices technology. The escalated spending by governments on these devices to fulfill the demand for combat operations and night patrolling has helped in evaluating the significant growth prospects during the forecast period.
The Scopes market dominated the Global Night Vision Devices Market by Type 2018, growing at a CAGR of 7.6 % during the forecast period. The Goggles market is expected to witness a CAGR of 9% during (2019 - 2025). Additionally, The Camera market is expected to witness highest CAGR of 8.9% during (2019 - 2025).
The North America market dominated the Global Night Vision Devices in Surveillance Market by Region 2018, growing at a CAGR of 8.5 % during the forecast period. The Europe market is expected to witness a CAGR of 8.7% during (2019 - 2025). Additionally, The Asia Pacific market is expected to witness a CAGR of 12.4% during (2019 - 2025). In the global night vision industry, LAMEA and Europe are expected to be the largely growing areas. Using night vision devices for civilian applications and upgrading equipment are factors that drive target market growth in Asia Pacific.
The market research report has exhaustive quantitative insights providing a clear picture of the market potential in various segments across the globe with country wise analysis in each discussed region. The key impacting factors of the market have been discussed in the report with the elaborated company profiles of American Technologies Network Corporation, Apresys International, Inc., Elbit Systems Ltd., Vista Outdoor, Inc., BAE Systems PLC, FLIR Systems, Inc., United Technologies Corporation, Leonardo DRS, L3 Technologies, Inc., and Raytheon Company.
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