Military Laser Rangefinder Market
Military Laser Rangefinder Market is estimated to witness 6.70% CAGR during the forecast period, 2020-2030.
Development of 21st century digital warfare means has changed the outlook on defense. Many countries have been rapidly moving towards upgradation of their current airborne offence defense systems. This never-ending race between detection and stealth technologies is the major reason for rapid developments within technologies such as drones, and military rangefinders as well as their applications. Military Laser Rangefinder Market Share is expected to be driven primarily by growing demand for lightweight laser rangefinders and miniature rangefinders. Lightweight rangefinders provide advantages such as faster mobility, and significantly reduced fatigue among troops on account of low weight as well as added built-in functions such as GPS, and data sharing. Miniature rangefinders are also expected to find increased preference in the next few years. Miniature rangefinders not only allow size advantage but also provide with increased accuracy safety as well as efficient military operations.
Ability to achieve high level of integration and interoperability along with unmanned air vehicles (UAV) is expected to create large opportunities for laser rangefinders. Inception of miniature rangefinders, coupled with the rapid implementation of UAVs for numerous military operations has opened up an entirely new avenue for the laser rangefinder market.
Although rangefinders as a product has advanced at a very fast pace, inherent damage on health following prolonged usage is yet to be tackled completely. Issues ranging from skin damage to corneal inflammation and retinal burn havent been resolved. Apart from health concerns, market for laser rangefinders is also affected by shortcomings in its operation in difficult weather conditions. Although night vision feature has already been implemented in lot of rangefinders, inability of lasers to operate in smoke screens as well as extreme weathers such as dense fog, storm, and heavy snow poses a major obstacle for the market growth.
The military laser rangefinder market was valued at USD 530.2 million in 2016 and is expected to reach USD 803.4 million by 2023 with a CAGR 6.29%, during the forecast period 2017-2023.
Key Players:
Following is the Military Laser Rangefinder Market Players L3 Technologies Inc. (U.S.), Leonardo S.p.A. (Italy), Northrop Grumman Corporation (U.S.), Thales Group (France), Elbit Systems Ltd (Israel), FLIR Systems Inc. (U.S.), Lockheed Martin (U.S.), Saab AB (Sweden), Safran Electronics Defense (France), and Jenoptik AG (Germany) are some of the major players that have been profiled in this report. These companies majorly drive innovation and advancement within this industry which help shape the outlook for this market.
Industry News
May 2020: FNSS Savunma Sistemleri revealed the first prototype of its Kaplan MT Modern Medium Weight Tank (MMWT) at the IDEF 2020 exhibition. This tank is equipped with a computerized fire-control system (FCS) which incorporates a laser rangefinder for stabilised day/thermal sighting system.
February 2020: Elbit Systems entered into a technical collaboration Bharat Electronics Limited (India), a defense sector public sector company, for joint production and maintenance of Compact Multi-Purpose Advanced Stabilised System (CoMPASS). Bharat Electronics Limited would be supply as well as provide maintenance services to CoMPASS users in India.
February 2020: Northrop Grumman signed a five year-contract worth USD 16.9 million with the US Army. The contract includes provision of maintenance, repair, and sustainment services for the Lightweight Laser Designator Range Finder (LLDR) systems.
January 2020: China enhanced PGZ-07 capability with the installation of a new sensor pod, existing sensor pod is positioned above the tracking radar, which is mounted on the forward part of the turret and includes a laser rangefinder.
January 2020: Lockheed Martin signed a contract worth USD 150.9 million, with the US Navy, to develop a target sight system for the Cobra attack helicopter. The sight system is an infrared system with a laser and rangefinder turret.
Military Laser Rangefinder Market Segmentation
The report includes study as well as of Military Laser Rangefinder Market Trends categorized into segments as described below
Application Segment includes analysis of the market broken down into weapon guidance application and detection application
Type Segment includes analysis of the market broken down into man-portable (carried by soldiers) type and vehicle-mounted type
Military Laser Rangefinder Market Regional Analysis
North America held a dominant one-third share of the global market for military laser rangefinders market in 2016. One of the prime reasons for its dominance is the presence of major manufacturers and the countrys huge allocations to homeland security and defense. It is expected to be continue holding a prime share on account of large investments as well as rapid implementations of technological advancements in the defense technologies. Asia-Pacific market as well as the Middle East Africa market are expected to exhibit faster growth as compared to other regions. This growth can be primarily attributed to rising military expenses on advanced technologies to counter as well as mitigate growing border conflicts and terrorist activities.
Military Laser Rangefinder Market: Information by Product Type (Man-Portable and Vehicle-Mounted), Application (Weapon Guidance and Detection), Range (Up to 15 KM and Over 15 KM) and Region (North America, Europe, Asia-Pacific, Middle East Africa and Latin America) - Forecast till 2030
Related Link:
UAV Propulsion System Market Research Report: By Propulsion Type (Electric, Thermal, Hybrid), By Range (Long Range, Medium Range, Short Range) and By End-User (Military Defense, Commercial, Consumers) - Forecast to 2030
Electronic Warfare Market Research Report: Information By Category (Electronic Attack (EA), Electronic Support (ES) and Electronic Protection (EP)), Product (Jammers, Countermeasure System, Decoy, Directed Energy Weapon, 2G Antennas, 3G Antennas, 4G Antennas, 5G Antennas and Others), Platform (Land-based, Airborne and Naval) and Region (North America, Europe, Asia-Pacific, Latin America and the Middle East Africa) - Forecast to 2030
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