Global Tritium Light Source Market sales are set to be valued at US$ 206.4 Mn in 2021

November 09 21:34 2021
Global Tritium Light Source Market sales are set to be valued at US$ 206.4 Mn in 2021
FMI
Tritium Light Source in Defense & Aerospace Sector to Account for Nearly 39% of Sales in 2021: New Study

Manufacturers are increasingly experimenting with tritium light source designs for improvements to operational accuracy and safety features to minimize leakages.

Future Market Insights, Dubai: Extensive scope of applications of tritium light sources in defense, aerospace, and infrastructure sectors, in addition to use in emergency signage products are key factors driving demand and growth opportunities. The tritium light source market is likely to display sluggish growth of 2.3% CAGR from 2021 to 2031. Increasingly easy access to alternatives such as LEDs and photo luminescent sources are gradually replacing tritium light products, potentially heading the market towards obsolescence.

“A rising number of infrastructure and aviation sector projects, and initiatives towards the expansion of tools for use by defense personnel in developed and emerging economies are generating significant demand for tritium light sources supporting sales prospects through the forecast period,” says the FMI study.

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Tritium Light Source Market – Primary Takeaways

  • Aviation industry applications will remain the leading contributors to revenue owing to durability and the lack of requirement for external power sources.
  • Applications as gun accessories gain ground owing to stable low-light characteristics, which do not degrade night vision.
  • Green light sources account for larger market share on account of relatively higher brightness.
  • Switzerland is a high potential market owing to popularity of tritium light applications in watch production.
  • United States will display significant opportunities for growth owing to major investments into civil aviation infrastructure upgrades and renovations.

Tritium Light Source Market – Growth Factors

  • Wide scope of applications in the defense, aerospace and emergency markers industries support demand.
  • Efforts by manufacturers towards research and development for improved product safety will drive growth.
  • Low toxicity of tritium despite radioactivity aids expansion in scope of application for long-term growth opportunities.

Explore data on the tritium light sources market with 96 figures, 28 tables and the ToC. You will also find market segmentation on https://www.futuremarketinsights.com/reports/tritium-light-sources-market

Tritium Light Source Market – Major Constraints

  • Environmental concerns associated with tritium leakages is an area of concern for manufacturers.
  • High competition from alternative light sources is hurting adoption rates in multiple areas of application.

Expected Impact on Market by Coronavirus Outbreak

The covid-19 pandemic adversely impacted the global tritium light source market. Massive impact on the economy and lockdown restrictions on the electronics industry hurt demand during the crisis period. While production rates have largely been left unaffected, disrupted supply chains for raw materials have been a key concern for manufacturers during this period.

Recovery is expected to be gradual through 2021 and beyond. While competing light sources remain a concern for manufacturers, applications in electronics will continue to generate moderate opportunities for sales in the years ahead.

 

Competition Landscape

Leading manufacturers operating in the tritium light source market include but are not limited to Evenlite Inc., Cammenga, Trijicon, Betalight B.V., SRB Technologies, ITTSAN GTLS, and MB Microtech AG.

Leading manufacturers in the tritium light source market are investing increasingly to expand their product portfolios, to strengthen their market position in a moderately competitive market landscape capitalizing on long-term sales opportunities.

TruGlo Inc. in July 2020, unveiled its new range of tritium night sights for Taurus G3C pistols, aimed towards bright sight pictures in low light and completely dark environmental settings. Betalight has added self-luminous tritium tactical torches to its product line for use by defense personnel, with minimal risk of sparks and fires. In August 2020, Glow Rhino introduced EDC Ion Pocketknife gear integrated with tritium inserts, which makes the knife easy to find in low light conditions.

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More on the Report

FMI provides in-depth insights on the tritium light sources market. The market is segmented in terms of visible color (green, yellow, red, orange, blue, white, and purple), application (directional markers and navigational aids, aviation markers, warning lights/markers, firearm accessories, and glow pads), and end-use sector (civil & commercial, industrial infrastructure, and defense & aerospace), across six regions (North America, Latin America, Europe, East Asia, South Asia & Pacific, and Middle East & Africa).

About FMI

Future Market Insights (FMI) is a leading provider of market intelligence and consulting services, serving clients in over 150 countries. FMI is headquartered in London, the global financial capital, and has delivery centers in the U.S. and India. FMI’s latest market research reports and industry analysis help businesses navigate challenges and make critical decisions with confidence and clarity amidst breakneck competition. Our customized and syndicated market research reports deliver actionable insights that drive sustainable growth. A team of expert-led analysts at FMI continuously tracks emerging trends and events in a broad range of industries to ensure that our clients prepare for the evolving needs of their consumers.

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