India Night Vision Device Market
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- Date Submitted: 07/22/2016 03:24 AM
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22ndJuly 2016 – Navi Mumbai, India: Market reports on India presents the latest report on “India Night Vision Device Market”. The market for NVDs registered demand from tri-services (Army, Air Force and Navy).
Rising terrorist activities, border intrusion from northern, western and eastern borders, civil unrest, increasing defense spending and growing localization of defense equipment have led for the growth of Night Vision Devices (NVDs) in India. Over the last five years, India’s defense spending has increased significantly due to the need for modernizing defense equipment, rising terrorism and strengthening border security. The defense spending reached $53.8 billion in 2015, growing at a CAGR of 3.1% during 2010-15, resulted in the demand for equipment such as night vision devices (NVD).
India Night Vision Device market is projected to reach $215 million by 2022. Currently, fixed-mounted night vision devices accounted for majority of the market revenues, followed by scope, handheld and head-mounted type of NVDs. The market for NVDs registered demand from tri-services (Army, Air Force and Navy). NVDs are extensively getting deployed for border security & surveillance applications. Presently, 2nd generation NVDs captured key share in the market; however, the trend is now shifting gradually towards 3rd generation NVDs.
Amongst all applications, army application segment acquired largest revenue share owing to deployment of NVDs for border security, counter insurgencies, surveillance and other military applications. Over the next six years, army application segment is forecast to grow at a relatively higher CAGR attributed to increasing coverage of NVDs toward surveillance application coupled with deployment of handheld NVDs for infantry units.
The report thoroughly covers NVDs market types and applications. The report provides an unbiased and detailed analysis of the on-going trends, opportunities/ high growth areas, market drivers which would help the...
Rising terrorist activities, border intrusion from northern, western and eastern borders, civil unrest, increasing defense spending and growing localization of defense equipment have led for the growth of Night Vision Devices (NVDs) in India. Over the last five years, India’s defense spending has increased significantly due to the need for modernizing defense equipment, rising terrorism and strengthening border security. The defense spending reached $53.8 billion in 2015, growing at a CAGR of 3.1% during 2010-15, resulted in the demand for equipment such as night vision devices (NVD).
India Night Vision Device market is projected to reach $215 million by 2022. Currently, fixed-mounted night vision devices accounted for majority of the market revenues, followed by scope, handheld and head-mounted type of NVDs. The market for NVDs registered demand from tri-services (Army, Air Force and Navy). NVDs are extensively getting deployed for border security & surveillance applications. Presently, 2nd generation NVDs captured key share in the market; however, the trend is now shifting gradually towards 3rd generation NVDs.
Amongst all applications, army application segment acquired largest revenue share owing to deployment of NVDs for border security, counter insurgencies, surveillance and other military applications. Over the next six years, army application segment is forecast to grow at a relatively higher CAGR attributed to increasing coverage of NVDs toward surveillance application coupled with deployment of handheld NVDs for infantry units.
The report thoroughly covers NVDs market types and applications. The report provides an unbiased and detailed analysis of the on-going trends, opportunities/ high growth areas, market drivers which would help the...