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.
Image Intensifier Tube Market Segmentation
By Generation – Generation I, Generation II, and Generation III.
By Phosphor Type – White Phosphor and Green Phosphor.
By End User – Military, Healthcare and Biotech, Electronics and Semiconductors and Others.
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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