India NVD Market to Reach USD 215 Mln by 2022, According to New Report by 6Wresearch Available at MarketPublishers.com22 Jul 2016 • by Natalie Aster
LONDON – Increasing terror acts, border intrusion from northern, eastern and western border lines, mass disturbances, rising defense expenditure and increasing localisation of defense equipment have resulted in the growth of the Indian market for night vision devices (NVDs). Over the past 5 years, the country’s defense expenditure has surged considerably owing to the necessity of military equipment modernisation, the rise of terrorism and fortifying border security. The defense spending reached USD 53.8 billion as of 2015, expanding at a 3.1% CAGR during 2010-2015, leading to a hike in the demand for NVDs.
India’s NVD market is forecast to amount to USD 215 million by 2022. At present, fixed-mounted NVDs captured the lion’s share of the market revenues, followed by scope, handheld and head-mounted NVDs. The NVD market witnessed demand from tri-services such as the air force, army and navy. NVDs are massively being deployed for border security and surveillance applications. Currently, the 2nd generation NVDs accounted for the largest share in the marketplace; nevertheless, the trend is gradually moving towards the 3rd generation NVDs.
Cutting-edge insightful report “India Night Vision Device Market (2016-2022)” elaborated by 6Wresearch canvasses the marketplace, covering NVD market types and applications. It examines the market dynamics covering drivers, restraints, opportunities for India NVD market; historical market revenues trends for global and Indian market as well as market size estimates and revenue forecasts; historical market volume trends and also market size and volume forecasts for India NVD market. The study provides market revenue and volume estimations and forecast by type; market revenue trends and forecasts based on application; key performance indicators for the market. It also provides an unprejudiced and detailed assessment of the current trends; an analysis of the industry life cycle and value chain; Porter’s five forces analysis; market shares of the industry players; detailed company profiles and strategic recommendations.
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