Night Vision Equipment Manufacturing in the US Industry Market Research Report from IBISWorld Has Been Updated
New York, NY (PRWEB) August 09, 2014 -- Over the past five years, conditions got less bright for the Night Vision Equipment Manufacturing industry. Industry players manufacture a wide range of night vision devices such as night vision scopes, goggles, binoculars, cameras and related components. The industry was minimally affected by the economic downturn, with revenue reaching a record high in 2009. The resilience of the industry is attributed to its primary source of demand, the US military and law enforcement agencies. According to IBISWorld analyst Maksim Soshkin, "these organizations use night vision devices (NVDs) to conduct nighttime combat, surveillance, search and rescue, criminal tracking and border protection missions." Therefore, the United States' involvement in the Iraq and Afghan wars, as well as anti-terror operations, caused demand for industry products to surge.
However, the recession eventually strained local and state government budgets, with governments having to cut down spending on law enforcement, including industry products, in order to balance their rising deficits. Moreover, greater federal budget deficit concerns and the withdrawal of troops from the Middle East (Iraq in 2011 and Afghanistan later this year) caused federal funding for defense to contract over the past five years. Consequently, "demand for industry products plunged from previously abnormal levels," says Soshkin. Therefore, in the five years to 2014, industry revenue is expected to decline at an annualized rate.
The Night Vision Equipment Manufacturing industry has a medium level of market share concentration, with the four largest companies accounting for a large proportion of revenue in 2014. The industry is projected to continue declining over the next five years, as defense and homeland security budgets are cut along with a decrease in US conflict involvement. However, the decline will be partially mitigated by the need to replace older and nearly obsolete NVDs as technologies advance and demand from commercial operators and local and state governments increases. As a result, the decline in industry revenue is forecast to slow, dropping at an annualized rate in the five years to 2019.
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IBISWorld industry Report Key Topics
The Night Vision Equipment Manufacturing industry manufactures night vision devices. These devices include image intensifier tubes, which are protective and generally water-resistant housing and mounting systems.
Industry Performance
Executive Summary
Key External Drivers
Current Performance
Industry Outlook
Industry Life Cycle
Products & Markets
Supply Chain
Products & Services
Major Markets
Globalization & Trade
Business Locations
Competitive Landscape
Market Share Concentration
Key Success Factors
Cost Structure Benchmarks
Barriers to Entry
Major Companies
Operating Conditions
Capital Intensity
Key Statistics
Industry Data
Annual Change
Key Ratios
About IBISWorld Inc.
Recognized as the nation’s most trusted independent source of industry and market research, IBISWorld offers a comprehensive database of unique information and analysis on every US industry. With an extensive online portfolio, valued for its depth and scope, the company equips clients with the insight necessary to make better business decisions. Headquartered in Los Angeles, IBISWorld serves a range of business, professional service and government organizations through more than 10 locations worldwide. For more information, visit http://www.ibisworld.com or call 1-800-330-3772.
Gavin Smith, IBISWorld Inc., http://www.ibisworld.com, +1 (310) 866-5042, [email protected]
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