Weapon Night Sight Market Expected to Reach $1.8 Billion by 2031—Allied Market Research

According to a new report published by Allied Market Research, titled, “Weapon Night Sight Market," The weapon night sight market was valued at $1.0 billion in 2021, and is estimated to reach $1.8 billion by 2031, growing at a CAGR of 6.2% from 2022 to 2031.

North America is expected to dominate the global weapon night sight market. North America is projected to witness an increase in the adoption of weapon night sight by the defense agencies, owing to multiple military modernization and enhancement programs underway in the North America. In January 2019, EOTech, a division of L3Harris Technologies, Inc., signed a $ 26.3 million five-year contract with the US Special Operations Command (USSOCOM), to provide the US military with state-of-the-art holographic sights and optics with G33 clip magnifier.

Tank utilizes weapon night sights for round-the-clock observation of terrain. In addition, vehicle-mounted weapon night sights are designed for viewing the field of combat in any weather conditions for the purpose of surveillance, detection and classification of stationery and moving targets.

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.

Key Findings Of The Study

• By type, the vehicle-mounted weapon night sight segment is anticipated to exhibit significant growth in the near future.
• By platform, the ground-based segment is anticipated to exhibit significant growth in the near future.
• By technology, the imaging intensifier segment is anticipated to exhibit significant growth in the near future.
• By region, Asia-Pacific is anticipated to register the highest CAGR during the forecast period.

Key players operating in the global weapon night sight market 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.