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Key takeaways from Military Laser Rangefinder Market study
- Military Laser Rangefinder Market size to increase by USD 4.67 billion at a CAGR of 6.70% between 2021 and 2026
- 5.11% year-over-year growth expected in 2022
- 46% market growth to originate in North America during the forecast period
- Dominant vendors include Elbit Systems Ltd., Jenoptik AG, LAP GmbH Laser Applikationen, Leonardo Spa, Lockheed Martin Corp, and others
Military Laser Rangefinder Market: Revenue Generating Segment
The military laser rangefinder market share growth by the hand-held equipment segment will be significant for revenue generation. The growth is attributed to the high quality and durability of the equipment. The significant increase in demand for handheld equipment such as laser rangefinder monoculars, binoculars, and multifunctional devices will also facilitate in achieving the global military laser rangefinder market growth during the forecast period.
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Military Laser Rangefinder Market: Growth Drivers and Restraints
For enhancement in the level of border security and protection, the defense agencies have been increasingly inclined toward equipping their military personnel with upgraded & advanced arms and ammunitions. For instance, in 2019, the US Army awarded a USD17.6-million contract to Northrop Grumman for the upgrade of target locator modules (TLMs) and retrofit the TLMs with the modern lightweight laser designator rangefinder (LLDR) 2H man-portable targeting system. Furthermore, in September 2018, the US Army chose Leonardo to help the army's navigation and targeting experts with an electro-optical all-weather day-and-night target designation and laser rangefinder system for the proper guidance of smart munitions to their targets. The growing acceptance of such lightweight, integrated systems among defense agencies will drive the growth of the global military laser rangefinder market during the forecast period. Need for highly precise weapons Increase in border security threats.
However, the key challenge to the global military laser rangefinder market growth is the hazards associated with laser operations. All laser system, including laser rangefinders, generates high-energy pulses which can cause serious damages to eyes (to retina, cornea, and lens) and skin depending on the laser wavelength. It can also cause flash blindness that persists even after the removal of the source of illumination, disability glare, and momentary flash blindness that can occur from visible laser exposures, even below MPE levels. Therefore, the use of military laser rangefinders is harmful to military personnel, which can impede the adoption, thereby impacting the growth of the market in focus during the forecast period.
The Military Laser Rangefinder Market report answers questions such as:
- Is the market structure fragmented or concentrated?
- What was the market size in 2022 and the forecast of the Education Tablet Market through 2026?
- Which are the best segment areas to invest in over the forecast period?
- What is the market share of dominant and strong vendors in the Military Laser Rangefinder Market?
- What are the latest trends and regulatory frameworks in the Military Laser Rangefinder Market?
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Military Laser Rangefinder Market Scope |
Report Coverage |
Details |
Page number |
120 |
Base year |
2021 |
Forecast period |
2022-2026 |
Growth momentum & CAGR |
Accelerate at a CAGR of 6.70% |
Market growth 2022-2026 |
USD 4.67 billion |
Market structure |
Concentrated |
YoY growth (%) |
5.11 |
Regional analysis |
North America, Europe, APAC, South America, and MEA |
Performing market contribution |
North America at 46% |
Key consumer countries |
US, Russian Federation, Canada, China, and Germany |
Competitive landscape |
Leading companies, competitive strategies, consumer engagement scope |
Companies profiled |
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 |
Market Dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and future consumer dynamics, market condition analysis for the forecast period. |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized, |
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