The night vision device market is expected to grow from USD 5.07 billion in 2015 to USD 7.73 billion by 2020, at a CAGR of 8.8% during the forecast period. The factors driving the night vision device market are technological innovation, increase in armed conflicts, and civil & commercial applications of NVD.
The Global Peacekeeping Index, by the Institute of Economics and Peace, presents the list of armed conflicts that take place around the globe. In recent years, there has been a significant decline in the peacekeeping index of the Middle East and African countries. The increased incidences of armed conflicts in these regions are expected to drive the demand for night vision devices in the coming years.
Night vision camera segment has a large share in the global night vision device market in the year 2015, and is also expected to grow at a high CAGR between 2015 and 2020. Whereas, night vision goggles segment is expected to grow at the second highest CAGR, owing to the increasing demands from military and defense sector.
Asia-Pacific is estimated to account for the second-largest market share by the end of the forecast period. Countries such as Japan, India, South Korea, and China are driving the market of night vision device in this region. However, China's economic downturn could act as a hindrance to the growth of this regional market. In the process of determining and verifying the market size for several segments and sub-segments gathered through secondary research, extensive primary interviews were conducted with key people.
- American Technologies Network Corp.
- BAE Systems
- Elbit Systems
- Exelis Inc.
- Flir Systems
- L3 Communication
- Rockwell Collins, Inc.
- Thales Group S.A
Key Topics Covered:
2 Research Methodology
3 Executive Summary
4 Market Overview
5 Night Vision Device Market, By Technology
6 Night Vision Device Market, By Device Type
7 Night Vision Device Market, By Application
8 Night Vision Device Market, By Geography
9 Night Vision Device Market: Competitive Landscape
10 Night Vision Device Market, By Company
For more information about this report visit http://www.researchandmarkets.com/research/2svhtf/night_vision
Related Topics: Military Aerospace and Defense, Optoelectronics
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SOURCE Research and Markets