Global Rangefinder Market, By Type (Laser, Ultrasonic), Range (Very low (2.5 km)), End-Use (Defence, Commercial, Sports), Country (U.S., Canada, Mexico, Brazil, Argentina, Rest of South America, Germany, Italy, U.K., France, Spain, Netherlands, Belgium, Switzerland, Turkey, Russia, Rest of Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa) Industry Trends and Forecast to 2028.
Market Analysis and Insights: Global Rangefinder Market
The rangefinder market is expected to witness market growth at a rate of 20.20% in the forecast period of 2021 to 2028 and is expected to reach USD 7,606.70 million by 2028. Data Bridge Market Research report on rangefinder market provides analysis and insights regarding the various factors expected to be prevalent throughout the forecast period while providing their impacts on the market’s growth. The rise in demand for the equipment in various defence and commercial applications is escalating the growth of rangefinder market.
A rangefinder refers to a device that assists in measuring distance from the observer to a target during a process known as ranging. The process is highly deployed using a camera or gun. Rangefinder is defined as a handheld device highly utilized for various situations. It is considered beneficial in sports such as golf, archery as well as hunting.
The rise in the focus on the modernization of the defence equipment across the globe acts as one of the major factors driving the growth of rangefinder market. The increase in the need for advanced and high-precision equipment in various industrial processes and high deployment of the equipment in surveying, navigation, and photography applications accelerate the market growth. The surge in the need for improving accuracy in sports activities with the use of rangefinders and the rise in the number of advancements in defence systems with the utilization of rangefinders further influence the market. Additionally, growth of the defence sector, increase in inclination towards outdoor sports activities, and urbanization positively affect the rangefinder market. Furthermore, use of rangefinders in autonomous cars extend profitable opportunities to the market players in the forecast period of 2021 to 2028.
- On the other hand, high cost associated with the rangefinder technology and extensive use of radars instead of rangefinders for ranging is expected to obstruct the market growth. Decline in the defence expenditure of several developed countries is projected to challenge the rangefinder market in the forecast period of 2021-2028.
This rangefinder market report provides details of new recent developments, trade regulations, import export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on rangefinder market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
Rangefinder Market Scope and Market Size
The rangefinder market is segmented on the basis of type, range and end-use. The growth among segments helps you analyse niche pockets of growth and strategies to approach the market and determine your core application areas and the difference in your target markets.
- On the basis of type, the rangefinder market is segmented into laser and ultrasonic.
- On the basis of range, the rangefinder market is segmented into very low (<50 m), low (50 m to 500 m), medium (500 m to 2.5 km) and high (>2.5 km).
- On the basis of end-use, the rangefinder market is segmented into defence, commercial and sports. Defence is further segmented into Airborne, marine and ground-based. Airborne is further sub-segmented into aircraft, missile and Unmanned Aerial Vehicles (UAVs). Marine is further sub-segmented into ships and submarines. Ground-based is further sub-segmented into tanks, handheld and Unmanned Ground Vehicles (UGVs).
Global Rangefinder Market Country Level Analysis
The rangefinder market is analysed, and market size, volume information is provided by country, component, type, range and end-use as referenced above.
The countries covered in the global rangefinder market report are the U.S., Canada and Mexico in North America, Brazil, Argentina and Rest of South America as part of South America, Germany, Italy, U.K., France, Spain, Netherlands, Belgium, Switzerland, Turkey, Russia, Rest of Europe in Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA).
North America is expected to dominate the rangefinder market increase in demand for rangefinders in countries, such as the U.S. and Canada. Europe and Asia-Pacific are expected to witness significant growth during the forecast period of 2021 to 2028 because of the rise in defence equipment upgrades by governments of various countries in these regions.
The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Competitive Landscape and Rangefinder Market Share Analysis
The rangefinder market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, regional presence, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to rangefinder market.
The major players covered in the rangefinder market report are Thales Group, Elbit Systems Ltd., Saab, Lockheed Martin Corporation., Northrop Grumman., Robert Bosch GmbH, Teledyne FLIR LLC, Rheinmetall AG, KONGSBERG, ZEISS International, Bushnell., Callaway Golf Company., Garmin Ltd., GOGOGO SPORT, Leica Camera AG, LEUPOLD & STEVENS, INC., Macwheel, Nikon Corporation, SkyHawke Technologies, LLC., Wosports, and Trueyard Outdoor Optics Ltd., among other domestic and global players. Market share data is available for global, North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South America separately. DBMR analysts understand competitive strengths and provide competitive analysis for each competitor separately.
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