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Military Laser Rangefinder Market: A Simple Overview
Recent changes in the way wars are fought are a big reason for the growth of the military laser rangefinder market. With the rise of 21st-century digital warfare, there's a need for advanced tools, and lightweight laser rangefinders are being produced more to meet this demand. These lightweight tools make it easier for soldiers to move quickly, and they also reduce the chances of soldiers getting tired. Many countries are upgrading their defense and offense systems in the air, and drones equipped with laser rangefinders are becoming more popular. The trend is also moving towards smaller rangefinders, which offer advantages like better accuracy, safety for soldiers, and more effective military operations.
Several factors are driving the military laser rangefinder market. The development of laser-guided weapons, the introduction of safe laser rangefinders, modernization of warfare, and the production of lightweight laser rangefinders are some of the key factors. However, there are also concerns about the health effects of laser rangefinders, their difficulty in extreme weather, and the use of smoke screens that could slow down market growth. But, the integration of laser rangefinders with unmanned aerial vehicles (UAVs) and the market's expansion into emerging countries provide opportunities for growth.
The global military laser rangefinder market is expected to grow at a rate of 6.70% during the forecast period from 2018 to 2023. In 2017, North America led the market with a 35.54% share, followed by Europe with 25.33%, and Asia-Pacific with 20.11%. Asia-Pacific is becoming an attractive region for companies in the military laser rangefinder industry due to increased spending on defense and demand from countries like China, India, and South Korea.
Military Laser Rangefinder Market Highlights:
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