Night Vision Camera Segment is Expected to Grow at the Fastest CAGR of 11.0%

Date: 2015-11-08

In this report, the global night vision device market has been broadly classified on the basis of device type, technology type, application, and geography. The major device types include night vision cameras, night vision goggles, and night vision scopes.
The night vision camera segment is expected to be the fastest-growing segment in the overall market, projected to grow at the fastest CAGR of 11.0% from 2014 to 2019. Factors such as increase in civilian & commercial usages, defense modernization programs, and technological advancements are further driving the market at a significant pace.
The global market is a highly competitive market with a number of market players. As of 2014, the global night vision device market is majorly dominated by are L-3 Communication (U.S.), Exelis Inc. (U.S.), FLIR Systems (U.S.), Elbit Systems (Israel), BAE Systems (U.K.), and Thales Group (France), among others. Expansion of plant capacities, agreements, contracts, and joint ventures are the major strategies adopted by these major players to achieve growth in the global night vision device market.

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