Global rangefinder market is expected to reach USD 4,918.14 Million by 2025, at a CAGR of 12.56% from 2018 to 2025. The key contributing factor for the market growth is cumulative demand for high-precision equipment in industrial processes, improved accuracy in sports activities with the use of rangefinders, and the use of rangefinders in defense systems.
A rangefinder is a device used to measures distance from the observer to a target with the help of a camera or gun. Rangefinder a handheld device used in several situations where the range detection is the vital part, for example, golf, archery as well as hunting applications need to measure the distance between themselves and the target. For instance, Saab launched Vidar, a laser rangefinder product. This product combines compact size with powerful performance and uses a laser beam to measure the distance to the target.
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- The base year for the study has been considered 2017, the historic year 2015 and 2016, the forecast period considered is from 2018 to 2025.
- The report provides the key data of Production (‘000 Units), Consumption (‘000 Units), Import & Export (‘000 Units), Demand, Supply, and Gap Analysis to understand the present and future scenario of the market.
- The study delivers a comprehensive analysis of the global rangefinder market by type, range, end use, application, and regions.
- The report offers in-depth analysis of driving factors, opportunities, restraints, and challenges for gaining the key insight of the market. The report emphasizes on all the key trends that play a vital role in the enlargement of the market from 2018 to 2025.
- Porter’s Five Forces model is used to recognize the competitive scenario in the global rangefinder market. This report incorporates the industry analysis which is focused on providing an extensive view of the rangefinder market.
- The study also includes attractiveness analysis of type, range, end use, application, and regions which are benchmarked based on their market size, growth rate and attractiveness in terms of present and future opportunity for understanding the future growth of the market.
- The report provides company profile of the key players operating in the rangefinder market and a comparative analysis based on their business overviews, product offering, segment market share, regional presence, business strategies, innovations, mergers & acquisitions, recent developments, joint venture, collaborations, partnerships, SWOT analysis, and key financial information.
- The market estimates have been evaluated by considering the effect of different political, economic, social, technological and legal factors which are based on our extensive secondary research, primary research, and in-house databases.
- Cumulative demand for high-precision equipment in industrial processes
- Improved accuracy in sports activities with the use of rangefinders
- Use of rangefinders in defense systems
- Decreasing defense expenditure of several developed countries
- Autonomous cars using rangefinders
- Rangefinder technology cost
- The increasing use of radars instead of rangefinders
Regional Segmentation Analysis:
The market is analysed on the basis of five regions namely North America, Europe, Asia Pacific, South America, and Middle East and Africa. North America region held value of USD 657.60 million in 2017 due to increasing demand for rangefinders, presence of major players, and rapid technological advancements.
The major players of market include Thales Group, Kongsberg Gruppen, Northrop Grumman Corporation, Pepperl+Fuchs, Carl Zeiss AG, Pentax, Saab Group, Rheinmetall Group, Robert Bosch GmbH, SafranVectronix AG, Chongqing Aite Optical And Electronics Co., Ltd, FLIR Systems, Inc., Newcon International Ltd., Elbit Systems Ltd., Lockheed Martin Corporation, and among others.
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