Night Vision Device Market categorizes global market by Device Type (Camera, Scope, Goggle), Technology, By Application (Military, Surveillance, Security, Hunting, Navigation, Hidden Object Detection, Paranormal Research, and Others) and by Geography.
Pune, India -- (SBWIRE) -- 02/19/2016 -- The report "Night Vision Device Market by Device Type (Camera, Scope, Goggle), Technology, By Application (Military, Surveillance, Security, Hunting, Navigation, Hidden Object Detection, Paranormal Research, and Others) and by Geography - Global Forecast to 2020", The night vision device market was valued at USD 5.07 Billion in 2015, and is projected to reach USD 7.73 Billion by 2020, at a CAGR of 8.8% from 2015 to 2020.
Browse 81 market data tables and 85 figures spread through 125 pages and in-depth TOC on "Night Vision Device Market - Global Forecast to 2020"
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Night vision devices are used for various purposes in military, surveillance, security, hunting, navigation, hidden object detection, and paranormal research. As the frequency of sophisticated attacks is gaining importance, the market is expected to gain traction between 2015 and 2020.
North America is expected to have the largest market share, and it comprises of countries, such as the U.S., Mexico, and Canada. The U.S. is a major driving factor for the market growth, considering the upgraded technology and high scale deployment of devices- night vision camera, night vision scope, and night vision goggle in various applications.
The research methodology used to estimate and forecast the night vision market begins by capturing data on key market player revenues through secondary research. The bottom-up procedure has been employed to arrive at the overall market size, by considering the revenue of key players in the market. After arriving at the overall market size, the total market has been split into several segments and sub-segments, which has been verified through primary research by conducting extensive interviews with key people such as CEOs, VPs, Directors and executives. This data triangulation and market breakdown procedures have been employed to complete the overall market engineering process and arrive at the exact statistics for segments and sub-segments. The breakdown of profiles is depicted in the below figure:
Night vision device plays a key role in the military segment
Military segment is expected to have a large market share due to the increasing arm conflicts and modernization programs worldwide. Surveillance segment is expected to grow at a high CAGR, followed by military segment, as the devices are used on a large-scale to facilitate tracing of unwanted or suspicious movements of humans or vehicles at night.
Global night camera segment accounts for a large share in the market
Night vision camera segment accounted for a large share in the global night vision device market in 2015. The night vision goggle segment is expected to grow at the second highest CAGR, owing to the increasing demand from the military and defense sector.
North America expected to contribute a large market share, APAC to grow at a rapid rate
North America is expected to have a large market share from 2015 to 2020, due to the presence of large number of vendors. APAC offers potential growth opportunities, as there is a constant upgradation in technology as well as an increase in the use of night vision devices for civil and commercial applications.
The major vendors in the night vision market are Flir systems, Exelis Inc., L-3 communications, American technologies network corp., Elbit systems, Rockwell Collins Inc., BAE systems and Thales group S.A.
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The scope of the report covers detailed information regarding the major factors influencing the growth of the night vision device market such as drivers, restraints, challenges and opportunities. A detailed analysis of the key industry players is undertaken to provide insights into business overview, products and services, key strategies, new product launches, mergers & acquisitions, partnerships, agreements, collaborations, and recent developments associated with the night vision devices market.
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