Image Intensifier Tube Market Snapshot
global Image Intensifier Tube Market is set to grow at a CAGR of 7.91% during the forecast period (2018-2023)
As per the latest report published by Market Research Future (MRFR), the global image intensifier tube market is set to grow at a CAGR of 7.91% during the forecast period (2018-2023). The application of image intensifier tubes has continued to grow over the years. They are an advanced lighting technology that facilitates visual imaging in low light condition. Large scale sectors such as military, healthcare & biotech, electronics and semiconductors present considerable application opportunities to image intensifier tubes.
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Global image intensifier tube market is reaching a valuation of USD 1,213.40 Mn. 2018 to 2023 and Image intensifier tube finds tremendous application in visual imaging devices, especially night vision devices. Its demand is currently concentrated in the military sector; however, industries such as healthcare, biotech and electronics are viewed as new growth avenues for market players.
Image intensifier tubes are an important component of night vision devices. These devices are a common military equipment. The growing military expenditure in various parts of the world is auguring well for the global image intensifier tube market. In 2017, the global military expenditure reached $ 1,739 Bn noted Stockholm International Peace Research Institute (SIPRI).
Image Intensifier Tube Market Companies Covered
Bel optronic Devices Limited, Aselsan SA, Photek Limited., Harder Digital GmbH, JSC Katod, Harrise Corporation, NewCon International Limited, Thales, Photonis Technologies and L-3 technologies Inc.
The MRFR report includes a comprehensive analysis of the market based on phosphor type, generation, end-user, and region.
On the basis of generation, the global image intensifier tube market has been segmented into generation II, generation I, and generation III. In 2018, the generation II segment held a 58.65% share in terms of market value. over the forecast period, the segment is slated to grow at a notable CAGR of 7.35%. Second-generation tubes have become relatively common and are the preferred generation of image intensifier tubes due to their advanced features as compared to the older generation and cost sustainability over the third-generation variations. They are deployed in night vision devices such as handheld nonocular and goggle and binocular configurations. Based on the phosphor type, the market has been bifurcated into green phosphor and white phosphor. The green phosphor segment held a 64.63% market share in 2018, with a market share of USD 535.92 million. It is now projected that the segment will expand at a CAGR of 7.74% during the projection period. As green is a highly visible color to the human eye, most night vision devices have phosphor green as the color of the screen. On the other hand, the green phosphor is likely to be placed by the white phosphor in the future. On the basis of end-user, the image intensifier tube market has been segmented into healthcare and biotech, military, electronics and semiconductors, and others. In terms of value, the military segment held a 71.74% market share in 2018 and is poised to grow at 8.51% CAGR over the forecast period. Meanwhile, the electronics & semiconductor segment accounts for the second largest market share and is slated to remain highly appealing over the next few years.
Image Intensifier Tube Market Generation Analysis
The generation II segment stood was valued at USD 486.40 Mn in 2018 and is projected to witness a CAGR of 7.35% between 2018 and 2023. This is primarily owing to the strong demand for second-generation image intensifier tube. Most of the current night vision devices have second-generation image intensifier tube. However, the arrival of third-generation intensifier tube is expected to hinder the segment’s growth in foreseeable future.
Image Intensifier Tube Market Phosphor Type Analysis
In 2018, the green phosphor segment command 64.63% share of the market and was valued at USD 535.92 Mn. During the assessment period, the segment is likely to post a CAGR of 7.74%. Right from the early days, green phosphorus has been the standard colour for the screens in night vision devices.
Image Intensifier Tube Market End User Analysis
In 2018, the military segment held 71.74% share of the market. In addition, the segment is expected to maintain its dominance throughout the forecast period. Military uses of image intensifier tubes includes night vision devices. Image intensifier tubes are used in night vision goggles, night vision scopes, vehicle mounted night vision systems, among others.
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Global Image Intensifier Tube Market: Regional Outlook
On the basis of region, the market has been segmented into North America, Europe, and rest of the world (RoW). North America led by the U.S is the largest market for image intensifier tube. In 2018, North America accounted for 67.32% market share in terms of value. Presence of prominent players such as Harris Corporation (US) and L3 Technologies (US) in the region is viewed as a positive attribute for the market in the region. Moreover, the region’s massive defense sector plays an important role in driving the market growth. Europe holds the second position in the global image intensifier tube market in terms of value. In 2018, the region accounted for 27.93% market share and is expected to capture a CAGR of 6.93% during the forecast period.
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