The global night vision scopes market size is projected to expand in a promising manner owing to the development of high-end and advanced night vision goggles by players in the aerospace & defense industry, observes Fortune Business Insights™ in its report, titled “Night Vision Scopes Market, 2021-2028”. With the demand for sophisticated military equipment and gear rising among armed forces around the world, defense manufacturers have been engaged in the development of efficient, effective, and futuristic night vision scopes for soldiers.
Rising Expenses on Defense Worldwide to Boost the Market
Military warfare today has become highly technology-driven and countries are in a cutthroat competition to outpace and outdo each other in terms of defense capabilities. With border conflicts intensifying in several parts of the world, major economies have been feeling the need to increase their spending on the armed forces. According to a recent analysis released by the Stockholm International Peace Research Institute (SIPRI), the year 2019 saw the largest increase in military expenditure since 2010, rising by 3.6% from 2018 levels. The total spending, as per SIPRI data, stood at USD 1,917 billion, with the US, China, India, Russia, and Saudi Arabia (in that order) emerging as the biggest spenders. This expansion of budgetary outlays is aimed at upgrading the defense arsenal and equipping the armed forces with advanced technologies, such as night vision scopes. Thus, rising military expenditures will be a key growth driver for this market.
List of Key Players Profiled in the Night Vision Scopes Market Report:
- Tonbo Imaging (India)
- Summit Night Vision Group LLC (The U.S.)
- Newcon Optik (Canada)
- L3Harris Technologies, Inc. (The U.S.)
- Carl Zeiss AG (Germany)
- ATN Corporation (The U.S.)
- Thales Group (France)
- Sightmark (The U.S.)
- Leica Camera AG (Germany)
- FLIR Systems (The U.S.)
- Bering Optics (The U.S.)
Information Source –
https://www.fortunebusinessinsights.com/night-vision-scopes-market-103546
