There is apparently a lot of dissenting opinion about this, but only one correct answer. The Oxford Dictionary actually says the word ‘binocular’ doesn’t exist in singular form! It only exists in a plural form, along with bellows, forceps, gallows, glasses, pliers, scissors, shears, and tongs. We strongly disagree! All the other words in that list are objects that have two components, both of which are required to function, such as the two halves of a pliers or scissors. We’d add the word ‘pants,’ or ‘pair of pants’ to that list.
But the prefixes ‘bin’ and ‘bi’ both mean ‘two.’ Bin-ocular means ‘two oculars’ (ocular is another word for eyepiece). It’s no different than the word ‘bicycle’, bi-cycle means ‘two wheels’. We don’t ride a ‘bicycles’ or ‘pair of bicycles’, we ride a bicycle. We don’t view the night sky or go bird-watching with a ‘binoculars’ or ‘pair of binoculars,’ we use a binocular.
If you look at the small screenshot below, you’ll see even spell check gets this wrong! The only correct usage of ‘pair of binoculars’ would be ‘a 10×42 Sport ED for yourself, and an 8×42 Sport ED for your spouse’. Additionally, the two components of a binocular can function individually—that’s called a monocular. Same with a bicycle. If just one wheel, that’s a unicycle. We rest our case.