Global Laser Designator Market: Overview
Used to designate a target, laser designators are seeing an increase in demand. Part of guided bombs, missiles and other precision weaponry use these. Some of the weapons that presently use this are Paveway series of bombs, AGM-114 Hellfire, etc. This is particularly critical for military use as a target is zeroed down, the beam is subtle and displays for a short time only. It rather, fires coded pulses of light. These advantages along with government efforts worldwide towards improving military strength will help the market take on a rosy outlook.
Therefore, it should come as no surprise that the market for global laser designators is expected to grow at a steady CAGR (Compound Annual Growth Rate), translating to a notable increase in market worth over the forecast period of 2019-2027.
Global Laser Designator Market: Notable Developments
The global laser designator market is undergoing critical developments in its landscape. It is creating the future of competitive landscape as well as paving road to growth over the forecast period. One such development is outlined below.
A 10-year program has been kick-started by Endeavour Business Media LLC, an organization of army navigation and targeting experts. The aim is to create an electro-optical designation and laser range finder system that can be used day and night and in all weather conditions. This will ensure that lightweight lasers perform better than they currently do. This will improve the way the laser designator market operates.
The global laser designator market is fragmented and key players in the landscape include 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.
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Global Laser Designator Market: Key Trends and Drivers
The global laser designator market is on an upward growth slope, due to factors such as associated advantage and governments securing borders more seriously than any time before in the history of mankind.
As of now, it has been observed that most technology providers for military use are focused in providing mini EO/IR sensors. These are ones that can be added to tiny laser designators and smaller UAVs. These are clearly a product of giant technological strides needed and constantly made in developing military technology. Besides, governments worldwide are encouraging the development of theses miniaturized variants.
In January 2019, Raytheon gave Elbit Systems the project to develop and deliver TCLS (Two Color Laser System) for Multi-Spectral Targeting System (MTS). These will be deployed in airborne platforms.
It is important to note here that mini EO/IR systems are used to develop these laser designators as well as enhance precision in military activities. Thus, they are significant to ensure soldier security. Thus, this will form a critical factor in the growth of global laser designator market.
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Global Laser Designator Market: Geographical Analysis
The region that is set to dominate the global laser designator market is North America. The second most prominent region would be Europe, owing to presence of a huge number of aircraft and helicopter manufacturers that use laser designators in their design. Besides, the adoption for these is rising significantly in weapons used by homeland security troops. To add on, as tensions across borders increase, especially in the Asia Pacific (APAC) region, the market would be propelled forward.
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