What Has Driven the Growth of the Military Night Vision Device Market in Recent Years?
The military night vision device market has seen considerable growth due to a variety of factors.
•The size of the military night vision device market has seen a swift expansion in the past few years. The forecast suggests an increase from $4.77 billion in 2024 to $5.26 billion in 2025, exhibiting a compound annual growth rate (CAGR) of 10.3%.
The historic period growth can be accredited to key factors such as initiatives towards modernizing the military, perceived threats and matters of national security, counterinsurgency operations, urban warfare, special operations, and worldwide peacekeeping operations.
What is the Market Size Forecast for the Military Night Vision Device Market?
The military night vision device market is expected to maintain its strong growth trajectory in upcoming years.
• The future few years are set to witness robust growth in the military night vision device market size, which is anticipated to reach "$7.6 billion by 2029 with a compound annual growth rate (CAGR) of 9.6%.
The factors contributing to the growth during the forecast period include improved connectivity and communication, cybersecurity and concerns over electronic warfare, increase in asymmetric warfare, focus on energy conservation, and the impact of global climate change. The forecast period is also expected to usher in major trends like thermal imaging technology, the inclusion of augmented reality (AR) features, miniaturization and lightweight designs, digital night vision, fusion night vision systems, and wireless connectivity coupled with data sharing.
Which Factors Are Boosting Growth In The Military Night Vision Device Market?
The anticipated upswing in terrorist incidents is projected to drive the expansion of the military night vision devices market. The term terrorist activities signifies an enhancement in the intensity and quantity of violent deeds performed by individuals or organizations with the objective of inflicting harm, dread, or societal disruption. Military night vision systems play a key role in counterterrorism efforts by allowing military staff to see under low-light conditions and identify potential threats before they initiate an attack. For example, the Global Terrorism Index 2023 established that in March 2023, the average death rate per terrorist attack in 2022 increased by 0.4. Terrorist attacks have escalated in their lethality, average 1.7 casualties per assault versus 1.3 casualties in the preceding year of 2021. Further, a total of 6,701 deaths due to terrorist activities were recorded in 2022. Consequently, the escalation in terrorist activities is expected to fuel the military night vision devices market.
What Key Areas Define The Segmentation Of The Global Military Night Vision Device Market?
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
Subsegments:
1) By Camera: Digital Night Vision Cameras, Analog Night Vision Cameras, Multi-Spectral Cameras
2) By Goggles: Tactical Night Vision Goggles (NVGs), Single Tube Goggles, Dual Tube Goggles
3) By Monocular And Binoculars: Handheld Monoculars, Head-Mounted Monoculars, Standard Binoculars, Compact Binoculars
4) By Rifle Scope: Day-Night Scopes, Thermal Imaging Scopes, Fixed Magnification Scopes, Variable Magnification Scopes
5) By Other Types: Night Vision Weapon Sights, Clip-On Night Vision Devices, Night Vision Range Finders
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How Are Emerging Trends Reshaping The Dynamics Of The Military Night Vision Device Market?
A significant trend among large corporations in the military night vision device sector is the establishment of strategic alliances, aimed at boosting their competitiveness. By forming these alliances, advancements in technology can be hastened and product development improved to cater to the changing demands of global military forces. As a case in point, in April 2024, US defense tech firm, Anduril Industries Inc., teamed up with the US tech company, Microsoft, to bolster the Integrated Visual Augmentation System (IVAS) for the U.S. Army. This collaboration is set to unify Anduril's Lattice software with Microsoft's IVAS hardware and software solutions. The goal is to offer soldiers instant situational comprehension by analyzing data from numerous sensors, such as those fixed to weaponry and drones. The improved goggles will be equipped with features such as thermal imaging and night vision capabilities.
Who Are the Key Players in the Military Night Vision Device Market?
Major companies operating in the military night vision device market include:
• 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
• Collins Aerospace
• Bushnell Corporation
• Luna optics Inc.
• ABB Ltd.
• Armasight
• Night Optics USA
• Bering Optics
• Hard Head Veterans LLC
• Custom Night Vision
• FLIR Systems Inc.
• OpticsPlanet Inc.
• Yukon Advanced Optics
• Sightmark LLC
• Carl Zeiss Sports Optics GmbH
• Trijicon Inc.
• US Night Vision Corp.
• Vortex Optics
What Is The Most Dominant Region In The Military Night Vision Device Market?
Asia-Pacific was the fastest growing region in the military night vision devices market in 2024. 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
