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 : January, 2023 | Consumer Goods

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.

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TMR Research has rich experience in developing state-of-the-art reports for a wide array of markets and sectors. The brilliance of the experts at TMR Research and their alacrity to conduct thorough research and create phenomenal reports makes TMR Research better than others.

5-Point Growth Formula

The 5-point growth formula developed by TMR Research provides an insight to the stakeholders and CXOs about the current situation in the market. The growth formula makes the report a perfect companion for the stakeholders and CXOs.

The 5-point growth formula includes the following points:

  • Current and Future Threats
  • Accurate Trend Analysis
  • Regional Assessment
  • Industrial Analogy
  • COVID-19 Impact

Current and Future Threats

Along with studying the opportunities necessary for growth, threats are also an important aspect to look upon for the companies and stakeholders in a specific sector. TMR Research studies every negative aspect that will hinder the growth of a specific area of business and includes it in the report. The stakeholders and CXOs will have the benefit of assessing the threat and take the necessary steps to prevent the hindrance caused due to the threats.

Accurate Trend Analysis

Keeping up with the latest trends is crucial in any business or sector. While stakeholders are aware of the trends that are on the surface, TMR Researchers find trends that are deeply entrenched in the particular market or sector. The reports are constantly updated with the latest trends so that the stakeholders and CXOs can derive benefits from the trends and generate good revenues.

Regional Assessment

Demography forms an important part of the growth pattern of all the markets. Diving deep into the demographics enables maximum output from specific areas. The TMR Research team assesses every region and picks out the vital points that have a large impact on the growth of a market.

Industrial Analogy

The analysts at TMR Research conduct an all-round analysis on the competitive landscape of the market. The observations recorded by the analysts are added to the reports so that every stakeholder gets a glimpse of the competitive scenario and frame their business plans according to the situation.

COVID-19 Impact

The COVID-19 outbreak has changed the growth projections of numerous sectors and businesses. The analysts at TMR Research have conducted a conscientious survey on the markets after the pandemic struck. The analysts have put forth their brilliant and well-researched opinions in the report. The opinions will help the stakeholders to plan their strategy accordingly.

The reports offer answers to the top 7 questions that revolve around the growth of the market

  • What are the diverse growth parameters influencing the market?
  • Which regions will contribute largely to the growth of the market
  • What are the recent innovations and technological advancements in the market?
  • What are the emerging trends across the market?
  • How has COVID-19 affected the market?
  • What will be the post-pandemic scenario of the market?
  • What are the major threats that will dent the growth prospects of the market?