Rangefinder market is projected to grow from an estimated USD 1.32 billion in 2017 to USD 3.57 billion by 2022, at a CAGR of 21.91% from 2017 to 2022.
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Asia Pacific is projected to be the fastest-growing market for rangefinders during the forecast period Asia Pacific is expected to be the fastest-growing market for rangefinders during the forecast period. The growth of the market can be attributed to the increased military expenditure and rise in automation in various industrial processes, particularly in the Asian economies of India and China.
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Based on type, the laser segment is estimated to be a larger segment of the rangefinder market during the forecast period. The growth of the laser segment can be attributed to the rising need for accurate and precise information about an object from long distances.
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The reduction in the price of laser rangefinders, owing to advancements in semiconductor technology is expected to further fuel the growth of the segment.
Based on end use, the commercial segment is estimated to be the largest segment of the rangefinder market during the forecast period. One of the key factors expected to propel the demand for rangefinders in the commercial sector is the increasing adoption of automation in the automotive, process industry and construction industries.
Target Audience Include Rangefinder Market Report:
- Rangefinder Manufacturers
- Advanced Optical Material Manufacturers
- System Integrators
- Potential Investors (Venture Capitalists)
- Research Institutes and Organizations
- Defense Equipment Manufacturers
- Military Service Providers
- Regulatory Bodies
- Sports Associations
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Top Companies Analyzed for Rangefinder Market are – Elbit Systems Ltd. (Israel), Kongsberg Gruppen ASA (Norway), Lockheed Martin Corporation (US), Saab AB (Sweden), and Thales Group (France).
Fundamental Key Point from Table of Content:
Rangefinder Market, By Type
Rangefinder Market, By End Use
Unmanned Ground Vehicles (UGVs)
Unmanned Aerial Vehicles (UAVs)
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Rangefinder Market, By Range
Very Low (< 50 M)
Low (50 M to 500 M)
Medium (500 M to 2.5 Km)
High (>2.5 Km)
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