Browse 41 Market Tables, 79 Figures spread through 232 Pages and an in-depth TOC on [b]“Night Vision Devices Market”[/b]:
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Military applications are the key end use industry for [b]night vision devices (NVDs)[/b]. Night vision devices and other electro optical products are used across the defence market for various applications including surveillance, combat, training and intrusion detection. NVDs are reliably been altered to perform tasks ranging from secret ground operations to avionics, effectively making meticulous and more adaptable devices for the army. [b]Night vision devices[/b] are extensively utilized in the military, however this application is set to exhibit extremely slow growth over the next few years.

The use of [b]night vision devices[/b] is prevalent in the militaries of developed nations. Developed economies such as The U.S., The U.K., Russia, Germany and many more have adopted [b]night vision systems technology[/b] and are extensively using the device for regular missions and operations. India, China, Indonesia and many other developing economies are investing heavily in upgrading their military requirements.

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[b]The night vision device market generated revenue of $5.89 billion in the military market in 2014.[/b] This market is estimated to grow at a low rate of nearly 2% CAGR through 2020. The major market for night vision devices for this application is North America with U.S leading the charge. The wide range of uses and declining costs offered in RTLS has led to the military’s utilizing these systems. However the military budgets of western countries in recent years have declined. This will result in slow growth of the military segment, even with the APAC market exhibiting significant adoption increase.

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The declining military budgets will lead to lower spending on night vision devices in the western countries. U.S accounts for a large share of the military [b]night vision device market[/b] and the declining spending in this market will have a significant impact on the market. Leading companies such as Exelis, Raytheon Corporation and FLIR Systems have looked to ink deals with foreign militaries in order to offset the declining orders from the U.S Department of Defence (DoD). According to governmental analysts, [b]U.S will spend nearly $1.1 billion on night vision devices with a shift to surveillance night vision devices.[/b] This will represent a significant downturn from the current U.S military spending on night vision devices. The European military budget is also set to decline with Italy, Germany, France and U.K leading the shift. The NVDs intended for application in military still face several issues regarding their performance such as focal shift, color, multispectral range, sensitivity and range compatibility. Thus these will find lower application in the declining military budgets of European countries.

However the APAC military segment will propel the market through 2020. The growing technological advancements which result in lower price and improved sensitivity will propel the adoption in these militaries. Declining prices of night vision devices will make the adoption of these systems rise, particularly in cost sensitive APAC market. As a result, night vision devices will have a bigger potential market. The growing military budgets in this region led by the Chinese market will spur the adoption of night vision devices. Soldier of the Future initiatives such as China’s ‘One Man Army’ and India’s ‘Futuristic Infantry Soldier’ will result in growing adoption of advanced technologies such as Gen 3 night vision devices for surveillance, combat and monitoring. The Brazilian military will also play a key part in the global [b]night vision device market[/b] spurred by the increased usage of night vision devices in the airforce.

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China and India are investing substantial amount of money to enhance their military capabilities at both technological and equipment level. China is the world’s 2nd largest country in terms of military expenditure. The Chinese army is focusing on advanced technologies such as [b]Night vision glasses[/b] and Thermal imaging. Indian army has recently sanctioned an order of 5000 night vision systems and 1.780 thermal imaging systems for their Special Forces as well as for main battle tank operations from Exelis (U.S). In the next five years, countries such as India, Indonesia, Japan will be transforming their military by these modern night vision devices.

The declining military budgets in the western countries will result in a significant shift in the landscape of the [b]night vision device market[/b], particularly for military applications. The growing military budgets in APAC region will also result in increased focus from [b]night vision device companies on this market[/b]. This will result in devices geared particularly for the Asian militaries. The shift in military spending will change focus from Americas and Europe to the growing APAC market.

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