According to a new market research report published by Transparency Market Research titled ‘Military Laser Designator Market – Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2019–2027,’ the global military laser designator market is projected to expand at a CAGR of 4.3% during the forecast period. According to the report, the global market would continue to be influenced by a range of macroeconomic and market-specific factors, such as increasing complexity of customers, sales, and other operational data of SMEs as well as large enterprises.
Advantages offered by military laser designators and increasing production and usage of lightweight laser designators are expected to boost the global military laser designator market in the next few years.
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. Adoption of laser designators is increasing in homeland securities, while military laser designators are increasingly being employed for soldiers and troops. Moreover, increase in spending on research and development activities in aerospace and defense sectors is also expected to propel the market in Europe during the forecast period.
Secondary research sources that are typically referred to for the study include company websites, annual reports, financial reports, broker reports, investor presentations, SEC filings, internal and external proprietary databases, relevant patent and regulatory databases, national government documents, statistical databases, market reports, news articles, press releases, and webcasts specific to companies operating in the market.
Primary research involves e-mail interactions, telephonic interviews, and face-to-face interviews for each segment and sub-segment of the market across regions. Primary interviews are conducted on an ongoing basis with market participants and commentators in order to validate the data and analysis. Primary interviews provide firsthand information on market size, competition landscape, and market outlook. They help validate and strengthen secondary research findings. They also help develop the analysis team’s expertise and market understanding.
Global Military Laser Designator Market: Competition Dynamics
UTC Aerospace Systems, Alpha Design Technologies Pvt. Ltd., Northrop Grumman Corporation, Thales Group, L-3 Technologies Inc., Leonardo S.P.A., General Atomics, Elbit Systems Ltd., FLIR Systems Inc. and RPMC Lasers are the top 10 players operating in the global military laser designator market. Details such as financials, SWOT analysis, recent developments, strategies, and headquarters pertaining to these players have been provided in the company profiles section.