The global night vision scope market was valued at over USD 623 million in 2016 and is expected to surpass USD 1045 million by 2021, says Technavio.
Technavio has published its latest market research report on the global night vision scope market, under its tools and components portfolio. This market analysis discusses the key drivers and important emergent trends and offers an analysis of key vendors like ATN, Newcon Optik, Night Optics, Bering Optics, and Armasight.
According to Gaurav Mohindru, a lead analyst for tools and components research at Technavio, “The increasing spending of global military operations will drive the demand in the global night vision scope market during the forecast period. Countries like the US, Russia, and Canada are deploying advanced night vision devices using innovative technologies. It is estimated that with the increase worldwide military budgets the vendors will launch new product lines to increase their sales over the next few years.”
The US leads the global market as the country experiences significant demand for night vision scopes. The launch of the Future Soldier 2030 Initiative by the US Army in 2009 had the objective to train soldiers with advanced equipment, weapons, and body armor which, in turn, increased the adoption of night vision scopes in the US.
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Use of graphene for night vision devices
The use of Ultra-thin, Ultra-light, ultra-strong, and ultra-flexible graphene materials will enable researchers to use this product to create thin and powerful night vision lenses. These new sensors introduced by the researchers will deal with the problem of night vision images by covering the IR spectrum and integrating it into a silicon microelectromechanical system. The new technology will help reduce the weight and lower the price of these devices.
Image intensification in night vision scope
The introduction of image intensification also known as I2 is steadily gaining popularity in the global market and will boost the demand for night vision scopes in the market. The vendors are introducing advanced I2 to provide enhanced performance, lower cost, and lighter weight devices. Furthermore, the manufacturers are offering upgradation of existing equipment thereby reducing the cost of purchasing a new unit to increase their sales.
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This research report comprises of a thorough analysis and market shares and sizes of the sub-segments and geography. An analysis of the chief companies, including their market shares, business overview, key financials, etc. is provided in this study. This market study also provides a comprehensive analysis of key drivers, challenges, and opportunities influencing this market.
A more detailed analysis is available in the Technavio report titled, ‘Global Night Vision Scope Market 2017-2021’. Technavio also customizes reports by other regions and specific segments upon request.
Other related reports:
- Global Night Vision Devices Market 2016-2020
- Global Automotive Night Vision System Market 2016-2020
- Global Safety Goggles and Glasses Market 2016-2020
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