Military Laser Designator Market – Snapshot

The global military laser designator market was valued at US$ 75.87 Bn in 2018 and is anticipated to expand at a stable CAGR of 7.9% during the forecast period, according to a new research report published by Transparency Market Research (TMR) titled ‘Military Laser Designator Market – Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2019–2027.’

Advantages offered by military laser designators, increasing production and usage of lightweight laser designators, and technological advancements in laser designators for better performance of defense and security sectors are prominent factors driving the global military laser designator market. The market in Asia Pacific is likely to expand at a rapid CAGR of 8.6% during the forecast period.

Increasing production and usage of lightweight laser designators

Adoption of new technologies in the digital warfare has resulted in the development of lightweight laser designators, as these systems assist in rapid mobility of troops and help in reducing the fatigue of soldiers. According to a news published by Endeavor Business Media, LLC., army navigation and targeting experts have kicked off a 10-year program to build an electro-optical, all-weather, day-and-night target designation and laser range finder system, in view of better performance of lightweight laser designators.

Present-day laser designators fabricated by using legacy designs and manufacturing processes are too heavy, bulky, and costly. This has created need to improve manufacturing processes so as to produce affordable and lightweight laser designator modules for use in small UAV and UGV platforms and portable soldier systems. Major players are adopting new technologies related to laser designators to make these equipment easy to handle.

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North America market to witness prominent growth, followed by Europe

In terms of revenue, Europe accounted for a significant share of the global military laser designator market in 2019. The region witnesses presence of a large number of aircraft manufacturers that are incorporating military laser designators in their new fighter jets. Advantages associated with laser designators are increasing their in aircraft and helicopters.