Image Intensifier Market – Key Revenue Pockets and Market leadership
The global image intensifier market is expected to reach USD 1,320 million by 2024 from USD 912 million in 2019—at a CAGR of 7.66% during 2019–2024. Image intensifiers are extensively used for increasing illumination of weak light in various applications.
The increasing military expenditure worldwide and the growing demand for medical diagnostic systems with better visibility play a significant role in the growth of the image intensifier market. Multiple soldier modernization programs being carried out across the globe are leading to the growth of the image intensifier market for the defense and surveillance sector.
The players in this market offer image intensifier tubes as well as image intensifier-integrated products. A major share is held by a few giants in the market. The key players in the market include Harris Corporation (US), L3 technologies (US), Thales Group (France), Siemens AG (Germany), Canon Medical Systems (Japan), PHOTONIS Technologies SAS (France), FLIR Systems (Armasight) (US), Alpha optics systems Inc (Canada), JSC Katod (Russia), Photek Limited (UK), Argus Imaging BV (Netherlands), Meomed.cz (Czech Republic), ASELSAN A.Ş. (Turkey), HARDER.digital GmbH (Germany), Dantec Dynamics A/S (Denmark), Lambert Instruments BV (the Netherlands), Yukon Advanced Optics (Lithuania), ProxiVision GmbH (Germany), DEP Technologies (US), TAK Technologies Pvt. Ltd. (India), and OPTEXIM JSC (Bulgaria).
Many major companies focus on the implementation of organic growth strategies such as product launches and developments, mergers and acquisitions, agreements, contracts, partnerships, collaborations, and expansions to boost their revenues.
L3 Technologies is a market leader headquartered in New York, US; the company was founded in 1997. It provides advanced defense technologies and commercial solutions. It also develops technologies and solutions for aviation security, pilot training, maritime systems, night vision and EO/IR, weapons, and space. It mainly serves the markets for homeland security, military, and commercial aviation applications. L3 acquired EOTech (US), a manufacturer and supplier of image intensifier tubes, in 2010. R&D and innovation have been a core part of the growth strategy of L3 Technology. The company has been focusing on exploring new markets to attract more customers primarily through the introduction of innovative technologies and R&D. A significant part of its strategy is to focus on ensuring excellent performance for its products offered to its customers, improving their operations with enhanced efficiencies, and creating value through the enhancement and expansion of their businesses.
Photonis is a leading manufacturer, supplier, and innovator in photo sensor imaging technologies. The company was founded in 1937 and is headquartered in Merignac, France. Photonis has more than 60 years of experience in manufacturing, sales, and innovation of image intensifier tubes. The group operates internationally and serves the night vision, industrial, scientific, and medical markets. It provides a variety of image intensifier tubes with 16, 18, 25, and 40 mm diameters for various applications. The company also provides customized image intensifier tubes. It follows innovation and partnership as the main strategies to expand its presence in the image intensifier market.
Defense and surveillance is the most dominating segment, and it held the largest market share in 2018. In the past, army forces all over the world were incapable of fighting at night due to various reasons, including the lack of quality on-time intelligence and difficulty in establishing communications. As a result, they witnessed a low rate of success with night-time combat operations. Image intensifier-integrated devices were introduced primarily to overcome these challenges.
Among all the end-use applications, googles are expected to register the highest CAGR during the forecast periodas image intensifier-based night vision googles play a key role in the defense segment. There is a growing demand for advance enhanced night vision googles owing to the defense equipment modernization programs around the world. In 2018, L-3 Technologies was awarded a contract worth USD 17 million for providing the AN/PSQ-20B enhanced night vision google systems with image intensifier tubes; it also received another contract worth USD 150 million to provide night vision equipment including its binocular night vision googles.
Market research Report-
Image Intensifier Market by Diameter, (<18 mm, 18 mm, 25 mm, 6 inch, 9 inch, 12 inch, 16 inch), Application (cameras, scopes, googles, x-ray detectors), Vertical (Defense and Surveillance, Medical, Industrial), Geography – Global Forecast to 2024
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