Rangefinder Market | Covid-19 Impact Analysis

Rangefinder Market Insights 

Rangefinder market is likely to witness an impressive CAGR of 23.2% during the forecast period. 

The unprecedented and significant growth of the rangefinder market can be attributed to the following factors.

• Rising claim for high-precision equipment in various industrial processes
• Enhanced accuracy in different sports activities with the application of rangefinders.

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Rangefinder Market Share Analysis

Rangefinder Market Share: By Type

Based on the type, the market is segmented as laser and ultrasonic. The laser segment is estimated to capture a larger segment of the market during the forecast period, driven by the growing usage of such rangefinders in various commercial applications.  

Rangefinder Market Share: By End-Use Type

Based on the end-use type, the market is segmented as commercial, defense, and sports. The defense segment is anticipated to register the highest growth in the coming five years. The growth of this segment can be attributed to the rising demand for accurate and precise information pertinent to the distance to a target in airborne, marine, and ground defense platforms.

Rangefinder Market Share: By Range Type

Based on the range type, the market is segmented as very low (< 50 M), low (50 M to 500 M), medium (500 M to 2.5 Km), and high (>2.5 Km). The low (50 m to 500 m) segment is expected to depict the highest growth during the forecast period. The very low range rangefinders are employed in sports, such as golf and shooting, as well as, in other commercial applications, including industrial automation.

Rangefinder Market Share: By Region

In terms of regions, North America was estimated to be the largest market for rangefinders in 2018, driven by the ever-rising demand for rangefinders in countries, such as the U.S. and Canada. The rangefinder market in Europe and Asia-Pacific is also expected to witness significant growth during the forecast period, owing to the rapid modernization and increase in defense equipment upgrades by the governments of various countries in these regions.

Some of the major players in the rangefinder market are Carl Zeiss AG, Elbit Systems Ltd., Flir Systems, Inc., Kongsberg Gruppen Asa, Lockheed Martin Corporation, Northrop Grumman Corporation, Robert Bosch GmbH, Saab Ab, and Thales Group

Market Scope & Segmentation

Rangefinder is an instrument that is used in determining the elevation and distance of distant objects. The instrument has its application in a number of areas such as navigation, correcting aim, surveying, focusing for photography, and so on.

Rangefinder makes use of a number of techniques for the purpose among which the most common and latest ones are laser and ultrasonic. The instrument is high in use in a wide number of industries such as commercial, defense, and sports.

This report studies the market covering a period of 12 years of trend and forecast. The report provides detailed insights into the market dynamics to enable informed business decision making and growth strategy formulation based on the opportunities present in the market.

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The rangefinder market is segmented into the following categories. 

Rangefinder Market Size, Share, & Forecast, by Type:

• Laser (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)

• Ultrasonic (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)

Rangefinder Market Size, Share, & Forecast, by End-Use Type:

• Commercial
  • (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
  • (End-Use Type Analysis: Industrial Robotics, Construction, Automotive, and Photography)
• Defense
• (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
• (End-Use Type Analysis: Ground-Based, Airborne, and Marine)
• Sports
  • (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
  • (End-Use Type Analysis: Golf, Archery, Shooting, and Others)

Rangefinder Market Size, Share, & Forecast, by Range Type:

• Very Low (< 50 M) (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
• Low (50 M to 500 M) (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
• Medium (500 M to 2.5 Km) (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
• High (>2.5 Km) (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)

Rangefinder Market Size, Share, & Forecast, by Region:

• North America (Country Analysis: the USA, Canada, and Mexico) 
• Europe (Country Analysis: Germany, France, the UK, Russia, and Rest of Europe)
• Asia-Pacific (Country Analysis: China, Japan, India, and Rest of Asia-Pacific)
• Rest of the World (Sub-Region Analysis: Latin America, the Middle East, and Others)

Research Methodology

This report offers high-quality insights and is the outcome of detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders and validation and triangulation with Stratview Research’s internal database and statistical tools. More than 1,000 authenticated secondary sources, such as company annual reports, fact book, press release, journals, investor presentation, white papers, patents, and articles have been leveraged to gather the data. We conducted more than 10 detailed primary interviews with the market players across the value chain in all four regions and with industry experts to obtain both the qualitative and quantitative insights.

Report Features

This report provides market intelligence in the most comprehensive way. The report structure has been kept such that it offers maximum business value. It provides critical insights into the market dynamics and will enable strategic decision making for the existing market players as well as those willing to enter the market. The following are the key features of the report:

• Market structure: Overview, industry life cycle analysis, supply chain analysis
• Market environment analysis: Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis
• Market trend and forecast analysis
• Market segment trend and forecast
• Competitive landscape and dynamics: Market share, product portfolio, product launches, etc.
• Attractive market segments and associated growth opportunities
• Emerging trends
• Strategic growth opportunities for the existing and new players
• Key success factors

Report Customization Options

With this detailed report, Stratview Research offers one of the following free customization options to our respectable clients:

Company Profiling

• Detailed profiling of additional market players (up to 3 players)
• SWOT analysis of key players (up to 3 players)

Market Segmentation

• Current market segmentation of any one of the types by end-use type.  

Competitive Benchmarking

• Benchmarking of key players on the following parameters: Product portfolio, geographical reach, regional presence, and strategic alliances

Custom Research: Stratview Research offers custom research services across sectors. In case of any custom research requirement related to market assessment, competitive benchmarking, sourcing and procurement, target screening, and others, please send your inquiry at [email protected].