The global weapon night sight market accrued revenue worth $1.0 billion in 2021, and will reach $1.8 billion by 2031, registering a CAGR of 6.2% from 2022 to 2031. The market research report offers a comprehensive analysis of oscillating industry trends, top segments, value chains, major investment business scenarios, regional landscape, and competitive space. The study is a major source of information for giant players, entrepreneurs, owners, and managers in creating new business plans for the future and taking steps to improve their market position. The report demonstrates an in-depth quantitative analysis of the market from 2022 to 2031 and guides investors in allocating funds to the rapidly evolving market.
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Major players of the global weapon night sight market profiled in the research report 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 Company.
Covid-19 Scenario :
- The COVID-19 outbreak negatively impacted global weapon night sight market growth due to the unavailability of raw materials and the revenue crunch during the pandemic.
- Disruptions in supply chain operations and delays in the purchase of weapon night sight equipment due to trade restrictions adversely impacted the global market growth during the COVID-19 period.
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In terms of platform, the ground-based segment accounted for the highest share of the global market in 2021, contributing more than half of the overall share of the global weapon night sight market. Moreover, this segment is predicted to contribute the highest market share by 2031. Furthermore, the same segment is anticipated to register the fastest growth with a CAGR of nearly 6.9% during the forecast timeframe. The report also includes other segments such as air-based and sea-based segments.
On basis of the technology, the thermal imaging segment accounted for a major share of the global market in 2021, contributing more than half of the global weapon night sight market share. Moreover, the segment is set to maintain its dominance during the forecast period. Nevertheless, the imaging intensifier segment is anticipated to record the fastest CAGR of nearly 7.4% from 2022 to 2031.
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Based on region, North America contributed the largest market share in 2021, accounting for more than two-fifths of the global weapon night sight market share. The region is predicted to continue its market dominance by 2031. However, the Asia-Pacific weapon night sight market is set to register the fastest CAGR of 7.2% during the assessment period.
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