Night Vision Scope Market | Increasing Global Military Spending to Boost Market Growth | Technavio
The global night vision scope market size is poised to grow by USD 205.16 million during 2020-2024, progressing at a CAGR of almost 5% throughout the forecast period, according to the latest report by Technavio. The report offers an up-to-date analysis regarding the current market scenario, latest trends and drivers, and the overall market environment. The report also provides the market impact and new opportunities created due to the COVID-19 pandemic. Download a Free Sample of REPORT with COVID-19 Crisis and Recovery Analysis.
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Technavio has announced its latest market research report titled Global Night Vision Scope Market 2020-2024 (Graphic: Business Wire)
The increasing investment in the military sector is the main driving force for the night vision scope market during the forecast period. Ever since the second world war countries such as the US, Russia, and Canada have started to deploy night vision devices in weapons. It is expected that this demand will increase further due to its growing need to equipping soldiers with advanced equipment, weapons, and body armor in the US and other countries around the world.
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Report Highlights:
- The major night vision scope market growth share came from the military segment in 2019. The increasing use for operations such as covert ops, counter-terrorism, hostage rescues, high-value targets, and person hunting, the escalating regional tension, and the international war against terrorism will be major factors driving market growth in the military segment.
- North America was the largest night vision scope market in 2019, and the region will offer several growth opportunities to market vendors during the forecast period. Increasing investments in the defense sector in countries such as the US will drive the adoption of night vision devices in the defense segment, leading to market growth in this region over the forecast period. However, market growth in this region will be slower than the growth of the market in APAC.
- The global night vision scope market is fragmented. American Technologies Network Corp., Elbit Systems of America LLC, Firefield, FLIR Systems Inc., Luna Optics Inc., Newcon International Ltd., Night Vision Devices Inc., NightSightOptics, NiteSite Ltd., and Sightmark are some of the major market participants. To help clients improve their market position, this night vision scope market forecast report provides a detailed analysis of the market leaders.
- As the business impact of COVID-19 spreads, the global night vision scope market 2020-2024 is expected to have neutral impact. As the pandemic spreads in some regions and plateaus in other regions, we continue to revaluate the impact on businesses and update our report forecasts.
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Use of Graphene for Night Vision Devices will be a Key Market Trend
The increasing research and development activities have enabled researchers to come up with thin and powerful night vision lenses that are created by graphene. This new technology has enabled researchers to eliminate the use of the cryogenic cooling system and thus lower the price of these devices. Such developments are likely to have a positive impact on market growth during the forecast period.
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Night Vision Scope Market 2020-2024: Key Highlights
- CAGR of the market during the forecast period 2020-2024
- Detailed information on factors that will assist night vision scope market growth during the next five years
- Estimation of the night vision scope market size and its contribution to the parent market
- Predictions on upcoming trends and changes in consumer behavior
- The growth of the night vision scope market
- Analysis of the market’s competitive landscape and detailed information on vendors
- Comprehensive details of factors that will challenge the growth of night vision scope market vendors
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Executive Summary
- Market Overview
Market Landscape
- Market ecosystem
- Value chain analysis
Market Sizing
- Market definition
- Market segment analysis
- Market size 2019
- Market outlook: Forecast for 2019 - 2024
Five Forces Analysis
- Five forces analysis
- Bargaining power of buyers
- Bargaining power of suppliers
- Threat of new entrants
- Threat of substitutes
- Threat of rivalry
- Market condition
Market Segmentation by End-user
- Market segments
- Comparison by End-user
- Military - Market size and forecast 2019-2024
- Civil - Market size and forecast 2019-2024
- Market opportunity by End-user
Customer landscape
- Overview
Geographic Landscape
- Geographic segmentation
- Geographic comparison
- North America - Market size and forecast 2019-2024
- Europe - Market size and forecast 2019-2024
- APAC - Market size and forecast 2019-2024
- MEA - Market size and forecast 2019-2024
- South America - Market size and forecast 2019-2024
- Key leading countries
- Market opportunity by geography
- Market drivers
- Market challenges
- Market trends
Vendor Landscape
- Overview
- Landscape disruption
Vendor Analysis
- Vendors covered
- Market positioning of vendors
- American Technologies Network Corp.
- Elbit Systems of America LLC
- Firefield
- FLIR Systems Inc.
- Luna Optics Inc.
- Newcon International Ltd.
- Night Vision Devices Inc.
- NightSightOptics
- NiteSite Ltd.
- Sightmark
Appendix
- Scope of the report
- Currency conversion rates for US$
- Research methodology
- List of abbreviations
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View source version on businesswire.com: https://www.businesswire.com/news/home/20201030005062/en/
