Military Laser Designator Market Size to Grow by $ 454.48 mn During 2020-2024

Technavio has been monitoring the military laser designator market and it is expected to grow by $ 454.48 mn, accelerating at a CAGR of almost 4% during the forecast period. The growth trajectory of the market is traced through a detailed analysis of the prevalent market forces, trends, and drivers along with competitive benchmarking View Free Sample Report

Military Laser Designator Market: North America to lead market growth during the forecast period

• 42% of the market growth will originate from North America during the forecast period.
• Emergence of miniaturized eo/ir systems will be a key trend that will influence market growth significantly.
• The Increasing use of laser designators in uavs will be a significant factor in driving the growth of the military laser designator market.

Military Laser Designator Market: Key Competitors

The market is concentrated. The growth of the players depends on several factors such as market conditions, government support, and industry development. To survive and succeed in such an intensely competitive market, players must distinguish their product and service offerings through clear and unique value propositions. BAE Systems Plc, Elbit Systems Ltd., FLIR Systems Inc., L3Harris Technologies Inc., Leonardo Spa, Northrop Grumman Corp., Raytheon Technologies Corp., Rheinmetall AG, Safran SA, and Thales Group are some of the major market participants. To make the most of the opportunities, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their position in the slow-growing segments.

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Military Laser Designator Market: Key Highlights of the Report for 2020-2024

• CAGR of the market during the forecast period 2020-2024
• Detailed information on factors that will drive military laser designator market growth during the next five years
• Precise estimation of the military laser designator market size and its contribution to the parent market
• Accurate predictions on upcoming trends and changes in consumer behavior
• The growth of the military laser designator market industry across North America, APAC, Europe, MEA, and South America
• A thorough analysis of the market’s competitive landscape and detailed information on vendors
• Comprehensive details of factors that will challenge the growth of military laser designator market vendors

Technavio has been monitoring the Gobal Military Laser Designator Market and it is expected to grow by USD 454.48 million progressing at a CAGR of almost 4% during the forecast period. The growth trajectory of the market is traced through a detailed analysis of the prevalent market forces, trends, and drivers along with competitive benchmarking. Download latest version with COVID-19 analysis Free Sample Report

North America  was the largest military laser designator market in 2019

42% of the market’s growth will originate from North America during the forecast period, with the US being the key market driving growth in the region. Market  growth in this region is expected to be faster as compared to other geographical region. The increasing efforts by various countries in the region to ensure foolproof border surveillance and protection will significantly drive military laser designator market growth in this region over the forecast period. This report provides an accurate prediction of the contribution of all the geographic segments to the growth of the military laser designator market market size. 

Laser designators are integrated into the optical targeting systems of large UAVs, such as the Global Hawk and the Predator. Market vendors are also developing miniaturized laser designators to reduce the payload and increase their application in small UAVs. For instance, the advanced sensor suite in the Leonardo Spa GS205 multi-sensor targeting system weighs 8 lbs. and combines a high-resolution thermal imager, color daylight camera, laser designator, and laser rangefinder. This increasing use of laser designators in UAVs will boost the growth of the military laser designator market during the forecast period. The report offers an up-to-date analysis regarding the current global market scenario, the latest trends and drivers, and the overall market environment. 

Military Laser Designator Market: Vendor Analysis

The market is concentrated. The growth of the players depends on several factors such as market conditions, government support, and industry development. To survive and succeed in such an intensely competitive market, players must distinguish their product and service offerings through clear and unique value propositions. BAE Systems Plc, Elbit Systems Ltd., FLIR Systems Inc., L3Harris Technologies Inc., Leonardo Spa, Northrop Grumman Corp., Raytheon Technologies Corp., Rheinmetall AG, Safran SA, and Thales Groupare some of the major market participants. To make the most of the opportunities, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their position in the slow-growing segments.

Technavio suggests three forecast scenarios (optimistic, probable, and pessimistic) considering the impact of COVID-19 Download a Free Sample Report 

Military Laser Designator Market: Key Highlights of the Report for 2020-2024

• CAGR of the market during the forecast period 2020-2024
• Detailed information on factors that will drive Military Laser Designator Market growth during the next five years
• Precise estimation of the Military Laser Designator Market size and its contribution to the parent market
• Accurate predictions on upcoming trends and changes in consumer behavior
• The growth of the military laser designator industry across APAC, Europe, MEA, North America, and South America
• A thorough analysis of the market’s competitive landscape and detailed information on vendors
• Comprehensive details of factors that will challenge the growth of Military Laser Designator Market vendors