Laser Rangefinder Market - Generated $1,120 Million in 2017, Anticipated to Grow at a CAGR of 11.2

The global laser rangefinder market generated $1,120 million in 2017 and is anticipated to grow at a CAGR of 11.2% during the forecast period.

Laser rangefinder is a device that uses the process of ranging to determine the distance between the user and the target. An infrared beam is emitted from the LRF which hits the target. It is then reflected back to the rangefinder where a computer chip determines the time taken for the process. The accuracy of the LRF is quite high ranging to plus or minus one yard/meter. Sophisticated LRFs are now being developed to be equipped with more accessories and multiple modes such as low-light accuracy, GPS and quick data transfer.

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The demand for laser rangefinder has increased owing to rising demand from the automotive industry, modernization of vehicles, and growing development of autonomous vehicles. The rising use of laser rangefinder in industrial equipment of higher accuracy, and growing demand from the sports sector has resulted in the laser rangefinder market growth. The growing modernization of warfare technology, and development of laser guided weapons has increased the demand for laser rangefinder across the globe. Growing demand from emerging economies, and technological advancements are factors expected to provide numerous growth opportunities in the coming years.

The report provides an extensive qualitative and quantitative analysis of the market trends and growth prospects of the Global Laser Rangefinder Market, 2017-2026. This report comprises a detailed geographic distribution of the market across North America, Europe, Asia-Pacific, Latin America, and MEA. North America is further segmented into U.S., Canada, and Mexico. Europe is divided into Germany, UK, Italy, France, and Rest of Europe. Asia-Pacific is bifurcated into China, India, Japan, and Rest of Asia-Pacific.

North America generated the highest revenue in the laser rangefinder market in 2017 owing the established defense sector, and increasing development of autonomous vehicles in the region. The increasing modernization of warfare, and development of laser guided weapons in the region further boost the laser rangefinder market growth.

Competitive Landscape and Key Vendors

The global laser rangefinder market is characterized by the presence of well-diversified international and small and medium-sized vendors. These companies are consistently launching new products to enhance their offerings in the market. With the advancement of technologies, companies are innovating and introducing new customized products to cater the growing needs of the customers. Leading companies are also acquiring other companies, and enhancing their product offerings to improve their market reach. Acquisitions enable key players to increase their market potential in terms of geographic expansion and expansion of customer base.

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The leading companies profiled in the report include Robert Bosch GmbH, Thales Group, Flir Systems, Inc., Elbit Systems Ltd., Rheinmetall AG, UTC Aerospace Systems, Northrop Grumman Corporation, Carl Zeiss AG, Lockheed Martin Corporation, and Kongsberg Gruppen Asa.

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Polaris Market Research is a global market research and consulting company. The company specializes in providing exceptional market intelligence and in-depth business research services for our clientele spread across different enterprises.