The global weapon night sight market was valued at $1.0 billion in 2021, and is projected to reach $1.8 billion by 2031, growing at a CAGR of 6.2% from 2022 to 2031.
Weapon night sight are sighting devices that enable viewing or imaging under poor light conditions, and during nighttime. These night sight devices are also referred as image enhancement devices, which are built on the image-intensifier tube to collect and amplify infrared and visible light. In addition, these devices are utilized to intensify human sight under very low light conditions. These devices can be mounted on a wide range of weapons and small arms. Moreover, these devices can also be attached with guns carried by armed troops and military vehicles. Furthermore, military forces across the globe utilizes weapon night sights to execute military operation successfully.
The global weapon night sight market is experiencing growth due to upsurge in military spending, and government initiatives to protect nation from cross border disputes. However, high cost of weapon night sight devices is the factor hampering the growth of the market. Furthermore, defense modernization is the factor expected to offer growth opportunities during the forecast period.
The weapon night sight market is segmented on the basis of product type, platform, technology, application, and region. By product type, it is segmented into gun-mounted weapon night sight, and vehicle-mounted weapon night sight. By platform, it is classified into ground-based, air-based, and sea-based. By technology, it is categorized into imaging intensifier, thermal imaging, and others. By region, the report is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
Some leading companies profiled in the weapon night sight market report comprises BAE Systems Plc, Elbit Systems Ltd, Excelitas Technologies, L3Harris Technologies, Leonardo S.P.A, Optix CO, Raytheon Technologies Corporation, Rheinmetall AG, Rolta India Limited, Teledyne Flir LLC., Thales Group, and Thomasnet.
Upsurge in military spending
The global defense expenditure witnessed exponential growth in recent years. As per Stockholm International Peace Research Institute (SIPRI), the global military expenditure has reached $1,981 billion in 2020 with a 2.6% year-on-year increase. To modernize the defense forces in order to tackle the rise in threats of wars and other internal conflicts, many nations are continuously increasing their defense spending in order to purchase and manufacture advanced security solutions. The military expenditure accounted for 2.4% of the global gross domestic product (GDP) in 2020. Thus, an increase in global military expenditure has augmented the adoption of simulation and training technology. Furthermore, advancements of weapons and attacking capabilities worldwide have created the demand for modernization and installation of sophisticated defense infrastructure by governments to be prepared for any unprecedented threats and offensive attacks from foreign countries. Militaries across the globe are investing in the weapon night sight solutions to carry out military operations effectively. Thus, upsurge in military spending is driving the growth of the weapon night sight market during the forecast period.
Government initiatives to protect nation from cross border disputes
There is a rise in the cross-border disputes and civil wars across the globe. Border conflicts exist among countries due to several reasons including terrorism, expansionism, possession of natural resources, and others. Civil wars prevail in a country and happen mainly due to the conflicts arising from political unrest, territorial disagreement among states, and others. To tackle the rising instances of conflicts, governments all around the globe are taking major actions to control these situations and thus, are investing weapon night sight devices.
Weapon night sight devices provides viewing capabilities to humans at night as well as under inclement weather conditions such as rain, fog, snow, smoke, and dust. These devices can aid in performing several military missions such as navigation, surveillance, and tracking, efficiently and effectively. Thus, these devices place importance on border security, stopping terrorism and improving security of the nation. Such government initiatives are expected to drive the growth of the weapon night sight market in the forecast timeframe.
High cost of weapon night sight devices
The presence of highly reliable weapon night sight devices is important as this helps carry out military operations effectively. However, these devices are expensive to purchase and maintain. For instance, high cost of special material utilized for manufacturing of these devices, increases initial cost of these devices. In addition, use of expensive third-generation technology in these devices also increases the cost of these devices. Moreover, these weapon night sight devices are mainly utilized by defense organizations only, owing to considerably high cost. These factors limit the procurement of weapon night sight devices in sectors other than defense, thus negatively impacting the growth of the global weapon night sight market during the forecast period.
By platform, the weapon night sight market is segregated into ground-based, air-based, and sea-based. The ground-based segment was the highest revenue contributor to the market, growing with a CAGR of 6.9%. Companies operating in weapon night sight industry are introducing enhanced weapon sight in the market, which fuels the growth of the market. For instance, in December 2021, Thales launched its XTRAIM weapon sight which offers day/night camouflage capabilities for dismounted soldiers. It is a lightweight device and is compatible with a wide range of weapons such as assault rifles, light machine guns and others
Thermal imaging equipped weapon night sights measures the difference in heat radiated by several objects in the surroundings areas which aids in identifying targets. Thermal weapon night sights utilized advanced optics, sensors to digitally process the input from the optics of the device to deliver digital, raster images of target and its surroundings. Generally, weapon night sights equipped thermal imaging are not affected by the absence of a light source. In addition, these night sights can detect heat radiation of target and surroundings, which makes them a suitable choice for several military missions.
Key Benefits For Stakeholders
- This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the weapon night sight market analysis from 2021 to 2031 to identify the prevailing weapon night sight market opportunities.
- The market research is offered along with information related to key drivers, restraints, and opportunities.
- Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
- In-depth analysis of the weapon night sight market segmentation assists to determine the prevailing market opportunities.
- Major countries in each region are mapped according to their revenue contribution to the global market.
- Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
- The report includes the analysis of the regional as well as global weapon night sight market trends, key players, market segments, application areas, and market growth strategies.
Weapon Night Sight Market Report Highlights
| Aspects | Details |
 Market Size By 2031 | USD 1.8 billion |
 Growth Rate | CAGR of 6.2% |
 Forecast period | 2021 - 2031 |
 Report Pages | 250 |
 By Product Type |
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 By Platform |
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 By Technology |
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 By Region |
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 Key Market Players | Raytheon Technologies, L3Harris Technologies, Inc., BAE Systems plc, Thomasnet, ELBIT SYSTEMS LTD, Thales Group, Excelitas Technologies Corp., Leonardo DRS, Optix CO, Teledyne FLIR LLC, Rheinmetall AG, Rolta India Limited |
Analyst Review
The global weapon night sight market is expected to witness significant growth due to upsurge in military spending, and government initiatives to protect nation from cross border disputes.
Changing geopolitical situations and evaluation in digital technologies & defense budget outlook are expected to increase the adoption of new high-end technologies at security front. Increase in use of robotics, biotechnology, portable unmanned based solutions, and nanotechnology in cloud computing, communication, surveillance, detection, decontamination, and other activities is expected to transform the military outlook across the globe. Furthermore, unmanned vehicles are used in aerial, ground, and underwater for transportation, communication, and other applications. The modernization of defense solution and change in geopolitical situations are creating demand for development of the operational effective weapon night sight devices.
The key players of the market focus on introducing technologically advanced products to remain competitive in the market.
The global weapon night sight market was valued at $1.0 billion in 2021 and is projected to reach $1.8 billion in 2031, registering a CAGR of 6.2%.
The leading companies include BAE Systems Plc, Elbit Systems Ltd, Excelitas Technologies, L3Harris Technologies, Leonardo S.P.A, Optix CO, Raytheon Technologies Corporation, Rheinmetall AG, Rolta India Limited, Teledyne Flir LLC., Thales Group, and Thomasnet.
The largest regional market is North America.
The leading application is ground-based.
The upcoming trends include greater application of vehicle-mounted weapon night sights and advancements in night sights based on imaging intensifier technology.
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