Global Rangefinder Market Size was Valued at USD 1583 Million in 2018 and is Expected to Grow at a CAGR of 12.53% | Valuates Reports

BANGALORE, India, Jan. 13, 2020 /PRNewswire/ --

GLOBAL RANGEFINDER MARKET ANALYSIS

A rangefinder is an instrument used to assess the distance and elevation of distant objects. The tool has its application in a number of areas such as navigation, target correction, survey, photo focus, and so on.

The market is segmented as laser and ultrasonic based on the type. During the forecast period, the laser segment is expected to capture a larger market share, powered by the increasing use of such rangefinders in different commercial applications.

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FACTORS INFLUENCING THE GLOBAL RANGEFINDER MARKET SHARE

• Growing need for high-precision equipment in various industrial processes
• Elevated accuracy in various sports activities with the application of rangefinders.

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REGION WISE GLOBAL RANGEFINDER MARKET ANALYSIS

• Due to the increasing demand for rangefinders in countries such as the U.S. and Canada, North America is expected to be the largest market for rangefinders in 2018. 
• It is also expected that the rangefinder market in Europe and the Asia Pacific will see high growth due to the rapid modernization and rise in defense equipment upgrades in these regions by governments.

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Geographically, Rangefinder Market Report is segmented into several key regions:

• Europe (Germany, UK, France, Italy, Russia and Turkey etc.)
• Asia-Pacific (China, Japan, Korea, India, Australia, Indonesia, Thailand, Philippines, Malaysia and Vietnam)
• South America (Brazil etc.)
• Middle East and Africa (Egypt and GCC Countries)

The key manufacturers in Rangefinder Market include

• Trueyard
• Vista Outdoor
• ORPHA
• NIKON
• ZEISS
• Leica Camera
• LTI
• HILTI
• Bosch
• FLUKE
• Mileseey
• Newcon Optik
• Leupold
• OPTi－LOGIC
• BOSMA
• Flir Systems
• Kongsberg Gruppen
• Others.

By the product type, Rangefinder Market is primarily split into

• Laser
• Ultrasonic.

By the end users/application, Rangefinder Market Report covers the following segments

• Military
• Construction Industry
• Industrial Application
• Sports
• Forestry.

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The study objectives of this report are:

• To study and analyze the global Rangefinder market size (value & volume) by company, key regions/countries, products and application, history data from 2013 to 2017, and forecast to 2025.
• To understand the structure of the Rangefinder market by identifying its various subsegments.
• To share detailed information about the key factors influencing the growth of the market (growth potential, opportunities, drivers, industry-specific challenges and risks).
• Focuses on the key global Rangefinder manufacturers, to define, describe and analyze the sales volume, value, market share, market competition landscape, SWOT analysis and development plans in next few years.
• To analyze the Rangefinder with respect to individual growth trends, future prospects, and their contribution to the total market.
• To project the value and volume of Rangefinder submarkets, with respect to key regions (along with their respective key countries).
• To analyze competitive developments such as expansions, agreements, new product launches, and acquisitions in the market.
• To strategically profile the key players and comprehensively analyze their growth strategies.

REPORTS RELATED TO THE SUBSET OF RANGEFINDER MARKET REPORT

GLOBAL LASER RANGEFINDER MARKET ANALYSIS 

The Laser Rangefinder industry is highly concentrated, with more than 10 major manufacturers in the world. On a global basis, the high-end rangefinders are mainly produced from the USA and Western Europe. In terms of volume and value, North America is the leading market, closely followed by Europe and Asia.

A laser rangefinder is a device that uses a laser beam to determine the distance to an object. LRF is based on the principle of time-of-flight, using light waves. This method uses the technique of transmitting a short burst of electromagnetic radiation from a target and collecting back-scattered signals.

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GLOBAL MILITARY LASER RANGEFINDER MARKET 

Precise distance measurement is important for accurate targeting of firearms, particularly in critical situations. As a result, laser rangefinders are standard military equipment with many security forces around the world. 

The Asia-Pacific market for military laser rangefinders is expected to be the fastest-growing region. North America dominates the global market and during the forecast period is likely to grow at a remarkable rate. The involvement of major companies, such as Lockheed Martin Corporation, Northrop Grumman Corporation, and FLIR Systems Inc., contributes to this region's global market supremacy. In addition, the US Department of Defense (DoD)'s increasing military spending on miniature military rangefinders has resulted in a significant increase in demand in this area in recent years.

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GLOBAL GOLF RANGEFINDER MARKET

In the next few years, approval of DMDs in golf tournaments will have a positive impact on the growth of the global golf rangefinder market. The golf governing bodies have allowed the use of DMDs to enhance the game's experience if the rules of the local community allow it.

The Americas region is estimated to hold the largest market share in 2017. With smart golf rangefinders increasingly popular in advanced economies including the US, this region will continue to dominate the market over the next few years as well.

A golf rangefinder is a handheld device that tracks the distance between the club and the flag. Laser golf rangefinders (uses laser beam technology) and GPS golf rangefinders (uses GPS technology) are the two types of rangefinders that are predominantly used.

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GLOBAL DIGITAL RANGEFINDER MARKET

One of the main factors contributing to the growth of the Digital Rangefinder market is favorable government initiatives. During the forecast period, high growth potential in emerging economies is expected to create lucrative market opportunities for digital rangefinders.

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GLOBAL TELESCOPIC LASER RANGEFINDER ANALYSIS 

This study focuses on the volume and value of the Telescopic Laser Rangefinder at the global, regional and corporate levels. This report reflects the overall size of the Telescopic Laser Rangefinder market from a global perspective by evaluating historical data and prospects for the future. Furthermore, the research focuses on a number of key regions in the region: North America, Europe, China, and Japan.

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