Night Vision Device Market - Forecasts from 2024 to 2029

The night vision devices market will reach US$11.873 billion in 2029 at a CAGR of 6.44% from US$8.689 billion in 2024.

Night vision devices consisting of goggles and cameras allow visualization of objects both moving and stationary in low-level lights. Such devices feature objective lenses and intensifier tubes for producing brighter images of the surroundings owing to which they are majorly used in military applications as well as in other surveillance and tracking activities.

Major factors such as growing terrorist attacks, improvement in military budgets, and high demand from wildlife sanctuaries and centers are driving the night vision device growth at a global scale. Furthermore, the ongoing collaboration and investments in night vision technologies coupled with new product launches are acting as an additional driving factor.

Market Drivers

Improvement in military budgets is expected to drive the overall market growth

Night vision devices owing to their infrared illumination and thermal imaging find high applicability in military in defense applications. With the rising prevalence of terrorist attacks globally, the demand for such devices by security personnel is expected to show significant growth in the coming years. Furthermore, major countries namely India, China, the USA, and Russia among others are increasing their military funding to bolster the overall defense capabilities against both domestic and international threats, which has provided further growth opportunities for night vision devices.

According to the SIPRI (Stockholm International Peace Research Institute) Military Expenditure, in 2023, the global military expenditure reached US$2.44 trillion with United States witnessing positive growth of 2.3% over 2022 with overall spending reaching US$916 billion. Their military also spent about USD 97 million on the BAE Systems.

The growing need for animal tracking has propelled the night vision devices market growth globally.

In wildlife sanctuaries & conservation and research centers, tracking and observing animals in their natural habitat without disturbing them requires the usage of advanced technology options such as thermal imaging and infrared cameras. With the growing prevalence of poaching and animal trafficking, the demand for such night vision devices for tracking animal movement and preventing such accidents has provided new growth prospects. For instance, according to the Wildlife Protection Society of India, in 2023, the number of poached tigers stood at 56 which represented a 43.5% increase over the number recorded in 2022. Additionally, according to Save The Rhino International, in 2022, 448 Rhinos were killed in South Africa, and the same sources stated that for the first time in six years, rhino poaching has witnessed a significant increase.

Night vision goggles are expected to account for a significant share

Based on product, the night vision devices are analyzed into camera, goggles, and scope, from which night vision goggles are projected to show significant growth, fueled by their growing applicability in the military & defense sector. Additionally, such goggles owing to their high image intensification and thermal imaging capabilities, make them ideal for a range of navigation and security surveillance applications. Likewise, they provide greater convenience in terms of performance and cost which is also expected to drive night vision goggles market demand over the forecast period.   

North America is expected to constitute a considerable market share

Geographically, North America held a significant share of the global night vision device market and will remain a key regional market during the forecast period owing to the presence of a large number of key players, along with the ongoing collaboration with the military and early adoption of such technology in the region. For instance, in November 2022, L3 Technologies announced that the company would deliver 600 ENVG-Bs (Enhanced Night Vision Goggle-Binocular) to the U.S. Army and the company also received a production order for additional ENVG-Bs.

Competitive Insights

• Detailed analysis of market players along with their competitive positions along strategies has been covered. The report also mentions recent deals and investments by different market players over the last year. The company profiles section details the business overview, financial performance for the past three years, key products and services being offered, along the recent developments of these important players in the night vision device market.
• In the night vision device market, the major market players consist of BAE System, ATN Corporation, L3 Communications, Thales Group, and FLIR Systems among others. Market players are adopting growth strategies like new product launches, M&A, and partnerships to expand their product portfolio and gain a larger market share.

Key Developments

• In April 2024: Hikvision India launched “Turbo HD8.0” which is the company’s latest generation of company’s Turbo HD range of analog security products. The camera features “Smart Hybrid Light” capability and 180-degree video protection, which improves its overall night vision imaging capabilities.
• In April 2024: L3Harris Technologies received an order of US$256 million from the U.S. Army for the production of Enhanced Night Vision Goggles - Binocular (ENVG-B). The continued production formed part ENVG-B program which aimed to introduce modern night vision in modern warfare situations.
• In November 2023: Elbit System Ltd secured an indefinite-delivery/indefinite-quantity contract of US$500 million from the U.S. Department of Defense for the supply of the former’s “Squad Binocular Night Vision Goggle” along with the other spare parts.
• In June 2023: TP-Link Corporation announced the launch of “Tapo C325WB” outdoor security cameras which feature the company’s “ColorPro Night Vision Technology” which enhances the overall image quality and provides users with professional-level monitoring. The camera marks a breakthrough in TP-Links night vision cameras for home security.
• In August 2022: SRI International formed a collaboration with the Defense Advance Research Project Agency for the development of night vision goggles that provide clear visuals even in the darkest situation. The product would be named “AMED Night Vision Goggles”
• In July 2022: THEON Sensors and HENSOLDT Optronics formed a contract with the Organisation for Joint Armament Cooperation (OCCAR) where the two companies would provide 20.000 MIKRON night vision goggles to the German armed forces. 

Segmentation:

By Technology

• Thermal Imaging
• Infrared Illumination
• Image Intensification

By Product

• Camera
• Goggle
• Scope

By Application

• Navigation
• Security and Surveillance
• Others

By Geography

• North America
• USA
• Canada
• Mexico
• South America
• Brazil
• Argentina
• Others
• Europe
• United Kingdom
• Germany
• France
• Spain
• Others
• Middle East and Africa
• Saudi Arabia
• UAE
• Others
• Asia Pacific
• China
• Japan
• India
• South Korea
• Thailand
• Indonesia
• Taiwan
• Others