Military Laser Rangefinder Market Share

ID: MRFR/AD/2874-CR

140 Pages

Swapnil Palwe

August 2019

Military Laser Rangefinder Market Research Report 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 2032

Military Laser Rangefinder Market Infographic

Request Free Sample

Summary Table of Contents Segmentation Download PDF

Market Share

Military Laser Rangefinder Market Share Analysis

Military Laser Rangefinder Market: Simple BreakdownThe global military laser rangefinder market is divided into different parts based on the type of product, how it's used, the distance it can cover, and where in the world it's used.

Type of Product: Man-Portable Segment This part includes rangefinders that people can carry easily. In 2017, these made up the biggest part of the market, with 61.44% share, valued at USD 342.3 million. The prediction is that this segment will keep growing at a rate of 7.74% during the forecast period. How It's Used: Weapon Guidance Segment This category involves rangefinders used for guiding weapons. In 2017, it was the most significant part of the market, holding a 77.51% share, valued at USD 431.9 million. The expectation is that it will continue growing at a rate of 7.10% during the forecast period. Distance It Can Cover: Up to 15 Km Segment This part covers rangefinders that can measure distances up to 15 kilometers. In 2017, it was the largest part of the market, with a 71.77% share, valued at USD 399.9 million. The projection is that it will grow at a rate of 6.50% during the forecast period. These divisions help understand how different types of military laser rangefinders are used and where the market is heading.

The Changing Face of Warfare: SimplifiedThe way wars are fought has changed a lot in the last 20 years. Now, it's not just about having good weapons but also making sure they hit the right targets without causing too much extra damage. This is where advanced military laser rangefinders come in.One big reason for these high-tech rangefinders is the increase in missions against extremist groups all around the world. These rangefinders are like a team-up between special forces on the ground and attack aircraft. This partnership became important after the First Gulf War in 1990-1991. They realized that for certain missions, having laser rangefinder systems would make air strikes more accurate and deadly.These rangefinders are not just for big bombings; they're also used in surgical strikes against extremist and terrorist groups. In these cases, special forces on the ground can use the rangefinders to make sure they hit the target exactly where they want. This way, it's safer for the special forces, and there's less chance of causing extra damage to nearby areas.This kind of advanced technology has caught the attention of defense authorities worldwide because it's helping make military operations more precise and less risky for the people involved.

Market Highlights

Author

Swapnil Palwe

Team Lead - Research

With a technical background as Bachelor's in Mechanical Engineering, with MBA in Operations Management , Swapnil has 6+ years of experience in market research, consulting and analytics with the tasks of data mining, analysis, and project execution. He is the POC for our clients, for their consulting projects running under the Automotive/A&D domain. Swapnil has worked on major projects in verticals such as Aerospace & Defense, Automotive and many other domain projects. He has worked on projects for fortune 500 companies' syndicate and consulting projects along with several government projects.

Get In Touch

FAQs

What is the anticipated market value of the global military laser rangefinder market?

Global military laser rangefinder market is estimated to acquire a market value of USD 1730.99 million during the forecast period from 2024 to 2032.

What is the expected CAGR of the global military laser rangefinder market?

Global military laser rangefinder market is expected to expand at a CAGR of 6.9% during the review period from 2024 to 2032.

Which region is predicted to dominate the global military laser rangefinder market?

North America is predicted to dominate the global military laser rangefinder market owing to the presence of established manufacturers and robust defense sector.

What is the segmentation of the global military laser rangefinder market?

The global military laser rangefinder market is segmented on the basis of application, type, and region.

Who are the established players of the global military laser rangefinder market?

Lockheed Martin Corporation (U.S.), Leonardo S.p.A (Italy), UTC Aerospace Systems (U.S.), and FLIR Systems (U.S.) are some of the established players in the global military laser rangefinder market.

1. Market Overview

2. Market Trends

3. Market Segment Insights

4. Key Players and Competitive Insights

5. Industry Developments

6. Market Segmentation

7. Report Scope

8. Market Highlights

9. FAQs

Customize Report

Certified Researchers

Market Summary

As per Market Research Future Analysis, the Global Military Laser Rangefinder Market was valued at USD 949.5 million in 2024 and is projected to reach USD 1730.99 million by 2032, growing at a CAGR of 6.9% from 2024 to 2032. The market is primarily driven by advancements in technology, increased military spending post-COVID-19, and the integration of AI and ML in rangefinders. North America held the largest market share of 35.54% in 2018, followed by Europe and Asia-Pacific. The demand for upgraded military equipment and the use of laser rangefinders in UAVs and drones are significant growth factors. However, the market faces challenges such as limited spending by developed countries and regulatory restrictions on military equipment development.

Key Market Trends & Highlights

The Military Laser Rangefinder Market is witnessing several key trends and developments.

Integration of AI and ML for improved accuracy and target identification, exemplified by Elbit Systems' XACT-640. Miniaturization of devices, with Leonardo DRS's LLDR weighing only 3.5 pounds. Increased range and accuracy, as seen in Lockheed Martin's Sniper ATP with a range over 25 kilometers. Post-pandemic recovery leading to renewed investments in military laser rangefinders.

Military Laser Rangefinder Market

CAGR

6.9%

Market Size & Forecast

2024 Market Size	USD 949.5 million
2032 Market Size	USD 1730.99 million
CAGR	6.9%
Largest Regional Market Share in 2018	North America

Major Players

Lockheed Martin Corporation, Northrop Grumman Corporation, Leonardo S.p.A, Thales Group, L3 Technologies, UTC Aerospace Systems

Market Trends

Military Laser Rangefinder Market Market Drivers

Emerging Markets

Emerging markets are increasingly recognizing the importance of modernizing their military capabilities, contributing to the growth of the Global Military Laser Rangefinder Industry. Countries in regions such as Asia-Pacific and the Middle East are investing in advanced military technologies to bolster their defense systems. For instance, nations like India and Saudi Arabia are actively procuring laser rangefinders to enhance their artillery and reconnaissance capabilities. This trend indicates a shift in defense spending patterns, as emerging economies prioritize military modernization. As these markets continue to develop, they are expected to play a pivotal role in driving future growth in the laser rangefinder sector.

Rising Defense Budgets

In recent years, many countries have increased their defense budgets, which has a direct impact on the Global Military Laser Rangefinder Industry. Nations are investing in advanced military technologies to enhance their defense capabilities, particularly in response to evolving threats. For example, countries like the United States and China have allocated substantial funds for modernization programs, which include upgrading their artillery and reconnaissance systems. This trend is expected to sustain the market's growth trajectory, with projections indicating a market size of 2114.6 USD Million by 2035, driven by continued investments in military technology.

Market Growth Projections

The Global Military Laser Rangefinder Industry is poised for substantial growth, with projections indicating a market size of 949.5 USD Million in 2024 and an anticipated increase to 2114.6 USD Million by 2035. This growth reflects a compound annual growth rate (CAGR) of 7.55% from 2025 to 2035. The increasing demand for precision targeting systems, driven by advancements in technology and rising defense budgets, is likely to sustain this upward trajectory. As militaries worldwide continue to modernize their capabilities, the laser rangefinder market is expected to expand significantly, highlighting the critical role of these systems in contemporary military operations.

Technological Advancements

The Global Military Laser Rangefinder Industry is experiencing rapid technological advancements, particularly in the development of compact and lightweight systems. Innovations such as integrated GPS and advanced optics enhance accuracy and usability in various military applications. For instance, the introduction of laser rangefinders with improved target acquisition capabilities allows for effective engagement in diverse environments. This trend is likely to drive market growth, as militaries seek to modernize their equipment to maintain operational superiority. As a result, the market is projected to reach 949.5 USD Million in 2024, reflecting the increasing demand for sophisticated targeting solutions.

Increased Military Operations

The frequency of military operations globally has surged, necessitating the deployment of advanced targeting systems such as laser rangefinders. The Global Military Laser Rangefinder Industry benefits from this trend, as armed forces require precise measurement tools for effective engagement in combat scenarios. Operations in diverse terrains and conditions demand reliable equipment that can deliver accurate data in real-time. Consequently, the market is likely to expand as military organizations prioritize the acquisition of laser rangefinders to enhance operational effectiveness. This growing demand aligns with the projected CAGR of 7.55% for the period from 2025 to 2035.

Integration with Unmanned Systems

The integration of laser rangefinders with unmanned systems, such as drones and ground robots, is transforming the Global Military Laser Rangefinder Industry. This synergy enhances the operational capabilities of unmanned platforms, allowing for precise targeting and reconnaissance missions. For example, military drones equipped with laser rangefinders can provide real-time data to ground forces, improving situational awareness and decision-making. As militaries increasingly adopt unmanned systems for various operations, the demand for integrated laser rangefinders is likely to rise. This trend underscores the evolving nature of modern warfare and the necessity for advanced targeting technologies.

Market Segment Insights

Regional Insights

Key Companies in the Military Laser Rangefinder Market market include

Industry Developments

Integration of artificial intelligence (AI) and machine learning (ML): Companies are increasingly incorporating AI and ML into their laser rangefinders to improve accuracy, speed, and target identification. For example, Elbit Systems' XACT-640 laser rangefinder uses AI to automatically detect and track targets, even in complex environments.

Miniaturization and lighter weight: Laser rangefinders are becoming smaller and lighter, making them more portable and easier to use for soldiers on the move. For example, Leonardo DRS's Lightweight Laser Designator Rangefinder (LLDR) weighs only 3.5 pounds.

Increased range and accuracy: Companies are developing laser rangefinders with longer ranges and higher accuracy. For example, Lockheed Martin's Sniper Advanced Targeting Pod (ATP) has a range of over 25 kilometers and can accurately measure the distance to targets within 1 meter.

COVID 19 impact

The Military Laser Rangefinder Market is no stranger to the impact of the COVID 19 pandemic. The manufacturing sector, including military laser rangefinder manufacturers, bore the brunt of COVID 19 lockdowns. The manufacturing rate declined drastically. Unavailability of funds and raw materials hit the Market hugely. Moreover, since all the nations' budget was channelized in COVID 19 and the economic recovery of the people, defense budgets accommodated very few military laser rangefinders and military laser designators. The growth rate and demand in the market plummeted to a new low.

However, in the post-pandemic era of this forecast period, military laser rangefinder manufacturers will see recovery and growth anew. The nations' attention is shifting towards strengthening defense and security. Thus, funds have started flowing into the military laser rangefinder market. Military binoculars with laser rangefinder, military laser designators, and military rangefinder binoculars will see more demand now with the pandemic in the past.

Future Outlook

Military Laser Rangefinder Market Future Outlook

The Global Military Laser Rangefinder Market is projected to grow at a 7.55% CAGR from 2024 to 2035, driven by technological advancements and increasing defense budgets.

New opportunities lie in:

Develop advanced multi-functional rangefinders integrating AI for enhanced targeting accuracy. Expand into emerging markets with tailored solutions for local defense needs. Invest in R&D for miniaturized rangefinders suitable for unmanned systems.

By 2035, the market is expected to exhibit robust growth, reflecting evolving military requirements and technological innovations.

Market Segmentation

Report Overview

Recent Developments
Competitive Landscape
Regional Analysis
Segment Overview
Market Dynamics
COVID 19 Analysis
Market Overview

Recent Development

Increased range and accuracy: Companies are developing laser rangefinders with longer ranges and higher accuracy. For example
Lockheed Martin's Sniper Advanced Targeting Pod (ATP) has a range of over 25 kilometers and can accurately measure the distance to targets within 1 meter.
Miniaturization and lighter weight: Laser rangefinders are becoming smaller and lighter
making them more portable and easier to use for soldiers on the move. For example
Leonardo DRS's Lightweight Laser Designator Rangefinder (LLDR) weighs only 3.5 pounds.
Integration of artificial intelligence (AI) and machine learning (ML): Companies are increasingly incorporating AI and ML into their laser rangefinders to improve accuracy
speed
and target identification. For example
Elbit Systems' XACT-640 laser rangefinder uses AI to automatically detect and track targets
even in complex environments.

Competitive Landscape

Recent Developments
UTC Aerospace Systems
L3 Technologies
Thales Group
Leonardo S.p.A
Northrop Grumman Corporation
Lockheed Martin Corporation

Report Scope

{}