Night Vision Goggles Market - Global Industry Analysis, Size, Trends, Growth, Trends, and Forecast 2019 - 2029

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Night Vision Goggles Market - Global Industry Analysis, Size, Trends, Growth, Trends, and Forecast 2019 - 2029

Status : June, 2020 | Consumer Goods | PPT format

Report Digest

Global Night Vision Goggles Market: Overview

The market for night vision goggles will see increase in growth figures over the period 2018 to 2028 owing to a plethora of factors. Some of the prominent factors include demand from military, wildlife researchers, and nature enthusiasts.

As per TMR Research, the global night vision goggles market will demonstrate significant growth over the forecast period owing to an impressive CAGR (Compound Annual Growth Rate).

Other factors that add to the growth curve’s trajectory include low costs and easy availability. A decent range and technical feasibility makes these suitable for military purposes.

Global Night Vision Goggles Market: Notable Development

The market is rife with activities that are shaping its future. Certain developments that are leading the global night vision goggles market towards significant growth, and are shaping the vendor landscape are outlined below. Advanced technology holds prominence in the growth story of the global night vision goggles market.

2018: The United States Army awarded contract for building Enhanced Night Vision Goggle Binocular (ENVG-B) to L-3 aid soldiers operate with ease when light is not optimum. It is a USD 391.8 million contract for three years and is set to bring in innovation to the table over the forecast period, helping the market grow substantially.

Other companies that are focused on creating Family of Weapon Sight-Individual, and ENVGs for the U.S. army include BAE Systems, Harris Corporation, and DRS.

The global night vision goggles market is fragmented owing to a decent number of players operating the playfield. Some of the prominent players who have made a name for themselves in the market landscape include

  • American Technologies Network Corporation
  • Harris Corporation
  • FLIR Systems, Inc.
  • Raytheon Company
  • Yukon Advanced Optics Worldwide
  • Bushnell
  • Firefield
  • Apresys, Inc.
  • Luna Optics
  • L3 Technologies, Inc.

It is worth noting here that besides a keen focus on technology, players would also forge strategic alliances such as mergers, acquisitions, and synergistic collaborations. Business expansion would also be a strategy to hold on to a larger market share over the forecast period.

Global Night Vision Goggles Market: Key Trends and Drivers

A multitude of factors are driving the global night vision goggles market. Some of the prominent trends and drivers that are underlying growth of global night vision goggles over the forecast period are benefits that accrue to military in night operations and easy availability.

  • The cost of night vision goggles is low and the factors such as lightweight, and small size help drive demand up. Besides, low power requirement is also contributing positively to demand generation.
  • A viewing range of 100ft. to 400 ft. is useful for use in military operations, aiding soldiers significantly in carrying out operations at night or where light is not optimum and needs enhancement for proper vision.
  • Technological advancement marking the market landscape will help in the development of global night vision goggles market; as products improve, use in navigation, combat, and surveillance will increase

Global Night Vision Goggles Market: Regional Analysis

Significant requirements from United States Army will lead to North America holding a dominant position in the global night vision goggles market over the forecast period. However, the region that will generate a slew of untapped opportunities in the global market is Asia Pacific excluding Japan owing to growing needs for improving security and taking strict surveillance measures.

The study presents a granular assessment and quantitative evaluation of:

  • Key growth factors and prominent trends
  • Size and share of key segments in overall market
  • Key challenges and winning imperatives
  • Factors shaping competitive landscape
  • Insights into how contours of market will change in coming years
  • Technological advances
  • New avenues and imminent investment pockets
  • Regulatory landscape shaping current and future strategies of companies

The region-wise assessment includes market dynamics in:

  • North America
  • Asia Pacific
  • Europe
  • Latin America
  • The Middle East and Africa

The study is prepared with the help of an extensive primary and secondary research. Primary research includes but not limited to interactions, interviews, surveys, and events. Opinions of policy makers and industry experts are carefully integrated into the insights to complement primary research. Volumes of secondary data gleaned through renowned paid sources, annual statements, reputed journals, and government documents offer insights into current dynamics and key evolution trajectories the market is likely to assume. The research employs various industry-wide analytics methods and well-established methodologies to ascertain the attractiveness of key segments. Further, it evaluates the lucrativeness of key regions and factors underlying their maturity. The insights notably include a detailed analysis of forces behind vendor differentiation and offers insight into investment-decision making by prominent players.

The report strives to enlighten businesses and industry stakeholders on multiple facets of the growth dynamic of the market, the key of which include answers to:

  • Which key factors will shape the competitive landscape?
  • Which trends will stimulate research and development activities in different geographies?
  • Which are the lucrative growth areas and what is the size of potential they are likely contribute to the overall market?
  • Which disruptions in market growth are likely to come with the new business models?
  • Which are some of the recent overhauls in policies that may change the course of the market significantly?
  • Which are the geographies that will form sizable sources of new streams to new and established players alike?
  • How are top players likely to realign their strategy to counter the forces of competition?
  • Which key strategies emerging players are likely to focus on to consolidate their position?
  • Which changes in end-user preferences might affect the status quo held by the leading players?
  • Which are some of the game-changing innovations influencing the projected share and revenue of the market and its segments?

Note: Utmost care has invariably been taken to present data and arrive at statistics at all the TMR Research reports. Meanwhile, some recent developments and new industry trends may take time to be included in the reports.