Trends, Drivers and Vendor Forecasts for 2022-2026
The Military laser rangefinder market is expected to grow by $ 4.67 billion, accelerating at a CAGR of almost 6.70% during the forecast period. The market is concentrated. This research report provides insights into the top market players and their product portfolio along with a pipeline analysis of upcoming developments and growth opportunities. The growth of the players depends on several factors such as market conditions, government support, and industry development. To survive and succeed in this intensely competitive market, players must distinguish their product and service offerings through a clear and unique value proposition. Elbit Systems Ltd., Jenoptik AG, LAP GmbH Laser Applikationen, Leonardo Spa, Lockheed Martin Corp., Northrop Grumman Corp., Saab AB, Safran SA, Teledyne FLIR LLC, and Thales Group are some of the major market participants.
Military Laser Rangefinder Market: Top Drivers to Boost Demand
The demand for lightweight military laser rangefinders is one of the primary factors driving the growth of the military laser rangefinder market. Defense agencies are driven towards enhancing border security and protection, hence they are inclined to equip military personnel with upgraded arms and ammunitions. For instance, in 2019, the US Army awarded a $17.6-million contract to Northrop Grumman for the upgradation of target locator modules (TLMs) and retrofit the TLMs with the modern lightweight laser designator rangefinder (LLDR) 2H man-portable targeting system. The growing popularity of such lightweight, integrated systems among defense agencies will drive market growth.
The report provides a detailed study of all the factors that are likely to boost the market. An understanding of the key drivers will enable clients to leverage growth opportunities to their advantage with a view to short-term and long-term business goals. For additional insights on this market: Download FREE Sample Report.
Military Laser Rangefinder Market: Market Segments and Key Trends
The Military laser rangefinder market is segmented by Product (Handheld equipment and Observation systems) and Geography (North America, Europe, APAC, South America, and MEA). North America led the market by contributing 46% of the market growth. The US and Canada are the key markets for military laser rangefinders in North America. Market growth in North America will be faster than the growth of the market in other regions. This is attributed to the huge investment in warfare technology for preparation against attacks as well as to train, support and protect the armed forces.
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