Night Vision Goggles Market - Global Industry Analysis, Size, Trends, Growth, Trends, and Forecast 2019 - 2029
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.
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
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.
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.
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.
This study provides a particularized anatomy according to the L.E.A.P mechanism
The regional analysis offers market assays across:
The study, prepared through the L.E.A.P mechanism adds a dimension of infallibility and assures precise information on all the growth dynamics.
Latest Trends and Cardinal Growth Prospects
The study assists in burnishing the knowledge of the stakeholder in terms of the emerging trends. The study provides an expansive coverage on the latest developments and novel profit-yielding sources that augur well with the market. A dedicated and determined team of experts conduct an out-and-out research on diverse aspects to offer ultimate breakthroughs in the market.
Existing and Future Insights in Growth
The interfusion of ubiquitous primary and secondary research through modern tools invites perfection and accuracy in every aspect. Primary research is circumspectly conducted through exhaustive interactions and interviews of experts. These valuable opinions are then neatly inducted in the report to allow the stakeholder for reaping the benefits. A treasure of secondary data is extracted via famed paid sources, yearly estimates and statements, renowned journals, and government documents. These sources assist in creating a robust database comprising existing and subsequent growth dynamics.
Ascensions in Technology
Diverse technological advancements and cutting-edge innovations in the market have been covered in this study to assist the stakeholder in research and development activities. Recent upgrades have also been added in the study, thus helping the stakeholder to paint the strokes of growth on the canvas of the market.
The study presents a plethora of challenges and obstacles that can hinder the growth of the market to allow the stakeholder to prepare their strategies accordingly.
The world ushered in the new decade with the shadow of the COVID-19 pandemic. The outbreak has damaged the growth prospects of several businesses and has crippled the entire economy. The study is in tandem with the changing dynamics of the market due to the SARS-CoV-2 outbreak. The study focuses on the coronavirus pandemic and analyses every aspect that impacts the growth positively or negatively.
An aerial perspective of the regions covered in this study enables the stakeholder to design strategies accordingly. The 360-degree assessment of every aspect associated with growth offers information on a rainbow of growth opportunities available across the market.
The exhaustive study motivates the stakeholder to take the 'LEAP' of faith and achieve success!
This report is the key to questions such as:
What are the prominent factors that will help in reshaping the market growth?
Which trends have the potential to bring expansive growth for the market?
What are the necessary strategies to overcome the ill-effects of the COVID-19 pandemic?
Which regions will emerge as champion growth contributors for the market?
Which aspects will serve as game-changers for the market?
What are the latest innovations in the market?
Which factors will hinder the growth of the market?
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