Global Military Laser Range Finder Market Size to Exceed USD 1,098.9 Million by 2033: Market Insight Report

Global Military Laser Range Finder Market Size to Exceed USD 1,098.9 Million by 2033 

According to a research report published by Spherical Insights & Consulting, The Global Military Laser Range Finder Market Size Expected to Grow from USD 731.12 Million in 2023 to USD 1,098.9 Million by 2033, at a CAGR of 4.16% during the forecast period 2023-2033. 

Browse 210 market data Tables and 45 Figures spread through 190 Pages and in-depth TOC on the Global Military Laser Range Finder Market Size, Share, and COVID-19 Impact Analysis, By Type (Handheld and Observation System), By Range (Upto 10 Km, 10-15 Km, and Above 15 Km), and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2023 – 2033  

The military laser rangefinder is a piece of technology used in the defense industry. This laser gadget qualifies as professional military gear. Only qualified military people are able to operate a military laser rangefinder because it is military equipment. Military troops utilize military binoculars with laser rangefinders. The employment of military laser rangefinders has grown in recent years along with the deployment of vehicle-mounted surveillance and fighting systems. Additionally, the market for military laser rangefinders is constantly expanding due to the growing use of technology-assisted combat and ongoing advancements in the device's capabilities. The market has been around for a while because laser technology is so widely used. Additionally, encouraging for the military laser rangefinder market are the deployment of laser-detecting technology in drones and UAVs, as well as the use of military rangefinder binoculars. The development of military technology is a deliberate endeavor by both international organizations and national governments. However, extreme weather conditions can pose challenges for military laser rangefinders, hence limiting their usefulness and dependability in specific scenarios.

The handheld segment is expected to hold a significant market share through the forecast period.                

Based on the type, the global military laser range finder market is categorized as handheld and observation system. Among these, the handheld segment is expected to hold a significant market share through the forecast period.  There is a considerable need for handheld laser rangefinders in the military industry. For military operations, handheld laser rangefinders are vital instruments because they offer precise and fast measurements for tasks like target identification, range finding, and reconnaissance.

The upto 10 km segment is expected to grow at the fastest CAGR during the projected timeframe.       

The global military laser range finder market is segmented by defense type into upto 10 km, 10-15 km, and above 15 km. Among these, the upto 10 km segment is expected to grow at the fastest CAGR during the projected timeframe. In the defense industry, there is a high need for military laser rangefinders with a 10-kilometer range. These gadgets are employed in a number of military tasks, such as surveillance, fire management, and reconnaissance.

North America is projected to hold the largest share of the global military laser range finder market over the projected timeframe.

North America is projected to hold the largest share of the global military laser range finder market over the projected timeframe. As a result of rising product demand, the region is anticipated to dominate the global market over the forecast period. Leading manufacturers are concentrating on diversifying their product lines and growing their businesses in the worldwide market, like Elbit Systems and Lockheed Martin.

Europe is projected to grow at the fastest CAGR growth of the global military laser range finder market during the forecast period. The European military laser rangefinder market is driven by the upgrading of military equipment and the growing acceptance of cutting-edge technology. European nations are spending money on technological developments to increase the military laser range finder's accuracy, speed, and target identifying capabilities.

Company Profiling 

Major vendors in the global military laser range finder market are Lockheed Martin Corporation, Leonardo S.P.A., Safran, Hensoldt AG, Northrop Grumman Corporation, Thales, ELBIT SYSTEMS LTD, L3Harris Technologies, Inc., FLIR Systems, Inc., Collins Aerospace, and Others.

Key Target Audience

• Market Players
• Investors
• End-users
• Government Authorities 
• Consulting and Research Firm
• Venture capitalists
• Value-Added Resellers (VARs)

Key Market Development

• In November 2023, Leonardo and Elbit Systems were chosen by the US military to start the prototype stage of the Joint Effects Targeting System II (JETS II), a next-generation laser targeting system. The project intends to create cutting-edge binoculars that soldiers might utilize to scout enemy positions and plan attacks while on the battlefield.

Market Segment

This study forecasts revenue at global, regional, and country levels from 2020 to 2033. Spherical Insights has segmented the global military laser range finder market based on the below-mentioned segments: 

Global Military Laser Range Finder Market, By Type

• Handheld
• Observation System

Global Military Laser Range Finder Market, By Range

• Upto 10 Km
• 10-15 Km
• Above 15 Km

Global Military Laser Range Finder Market, By Regional

• North America
  • US
  • Canada
  • Mexico
• Europe
  • Germany
  • UK
  • France
  • Italy
  • Spain
  • Russia
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Australia
  • Rest of Asia Pacific
• South America
  • Brazil
  • Argentina
  • Rest of South America
• Middle East & Africa
  • UAE
  • Saudi Arabia
  • Qatar
  • South Africa
  • Rest of the Middle East & Africa