Aerospace Industry Today
Laser Range Finder Market To Worth USD 803.4 Mn By 2023 : Global Military Industry Size, Share, Trends, Segments and Regional Analysis with Competitive Landscape
Military Laser Rangefinder Market Scenario
As per MRFR analysis, the military laser rangefinder market was valued at USD 530.2 million in 2016 which is expected to reach USD 803.4 million by 2023 with a CAGR 6.29%, during the forecast period 2017-2023.
The changing landscape of war in recent times is one of the major factors driving the Military laser rangefinder market, with the development of 21st century digital warfare. Rapidly rising production of lightweight laser rangefinders is expected to further induce demand in the military rangefinder market. Lightweight laser rangefinders enable faster mobility and significantly reduces chances of fatigue of the troops. Many countries are focusing on upgradation of their airborne defense and offence systems, thus application of drones as laser rangefinders is rapidly gaining momentum. Growing preference for miniature rangefinders will further provide the market with growth prospects owing to several advantages of miniature rangefinders which include enhanced accuracy, safety of soldiers and efficiency military operations.
Difficulty in operability and efficiency in extreme weather is expected to act as a major restraint for the military rangefinders market. Additionally laser rangefinder systems generate high-energy pulses. For example, one-megajoule laser pulse delivers the same energy as 200 grams of high explosive and has the same impact on a target. Even the low-energy laser systems are capable of disrupting the human vision.
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May 2017: FNSS Savunma Sistemleri revealed the first prototype of its Kaplan MT Modern Medium Weight Tank (MMWT) at the IDEF 2017 exhibition. This tank is equipped with a computerized fire-control system (FCS) which incorporates a laser rangefinder for stabilised day/thermal sighting system.
February 2017: 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 2017: 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 2017: 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 2017: 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.
The key players of global Military Laser Rangefinder market are L3 Technologies, Leonardo, Northrop Grumman, Thales, UTC Aerospace Systems, Elbit Systems, FLIR Systems, General Atomics, Gooch & Housego, and RPMC Lasers.
- Distributer & Supplier companies
- End Users
- Consultants and Investment bankers
- Government as well as Independent Regulatory Authorities
Global Military Laser Rangefinder Market – Segmentation
The report includes study as well as of Military Laser Rangefinders market, 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
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By 2023, North America is expected to be the dominant region in the Military Laser Rangefinder market primarily due to the presence of major manufacturers in this region. In addition, increasing military expenses by the US Department of Defense (DOD) on miniature military rangefinders have resulted in the Military Laser Rangefinder market witnessing a surge in demand in this region. Military operations and exercise in the Middle Eastern countries will result in U.S. focusing of integrated UAV’s and laser rangefinder systems, which will further deepen the scope for the military rangefinder system market in the North American region. North America leads in global military expenditure and technological advancements, and thus generates a very high demand for military laser rangefinder systems. Although, Canada makes some investments in the development of such advanced systems, yet the market is primarily dependent on the U.S. The region accounted for the largest share in the global market in 2016, primarily due to the presence of major manufacturers such as Lockheed Martin and Northrop Grumman in this region. Europe is expected to acquire the second largest market due to the high expenses on soldier modernization programs by countries in this region. Europe is currently facing a challenging security situation on many fronts. The economic and political crisis in European countries such as Portugal, Greece, Ireland, Cyprus, and Ukraine and violence in the Middle East and North African countries display multiple challenges for the respective countries. Also, the growing influx of illegal immigrants from countries such as Syria, Iraq, and Libya into the European countries is escalating the risk of internal instability. These challenges fuel the demand for military laser rangefinder systems in this region. With the deployment of such advanced targeting systems by the European Union (EU) and other government bodies, the European countries such as France, Germany, Russia, Turkey, and the UK would have greater control over these turbulent and unrest situations.
Scope of Report :
The report for Global Military Laser Rangefinder Market of Market Research Future comprises of extensive primary research along with the detailed analysis of qualitative as well as quantitative aspects by various industry experts, key opinion leaders to gain the deeper insight of the market and industry performance. The report gives the clear picture of current market scenario which includes historical and projected market size in terms of value, technological advancement, macro economical and governing factors in the market. The report provides details information and strategies of the top key players in the industry. The report also gives a broad study of the different market segments and regions.
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