Press release
Military Laser Rangefinder Market 2018 Demand, its Benefits, Price, Top Manufacturers & Competitive Developments Analysis and 2023 Global Industry Growth Forecast Report
Development of 21st century digital warfare means has changed the outlook on defense. Many countries have been rapidly moving towards up gradation of their current airborne offence & defense systems. This never-ending race between detection and stealth technologies is the major reason for rapid developments within technologies such as drones, and military rangefinders as well as their applications. Military Laser Rangefinders Market is expected to be driven primarily by growing demand for lightweight laser rangefinders and miniature rangefinders. Lightweight rangefinders provide advantages such as faster mobility, and significantly reduced fatigue among troops on account of low weight as well as added built-in functions such as GPS, and data sharing. Miniature rangefinders are also expected to find increased preference in the next few years. Miniature rangefinders not only allow size advantage but also provide with increased accuracy & safety as well as efficient military operations.
Ability to achieve high level of integration and interoperability along with unmanned air vehicles (UAV) is expected to create large opportunities for laser rangefinders. Inception of miniature rangefinders, coupled with the rapid implementation of UAVs for numerous military operations has opened up an entirely new avenue for the laser rangefinder market.
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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. In 2016, these companies accounted for a share of of the global market.
The Military Laser Rangefinder Market was valued at USD 530.2 million in 2016 and is expected to reach USD 803.4 million by 2023 with a CAGR 6.29%, during the forecast period 2017-2023.
Industry News
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.
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