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A rangefinder is a device that measures distance from the observer to a target, in a process called ranging, mostly used with a camera or gun. It is basically a handheld device that is used for several situations. Rangefinder provides benefits for golf, archery as well as hunting. Different types of rangefinder provide services for different application needs. Active rangefinding methods include laser, radar, sonar, lidar and ultrasonic rangefinding. Range finders are widely used in military but also civil applications like topography. The rangefinder emits laser beams at the push of a button. Those beams bounce off distant objects and the rangefinder's high-speed clock measures the total time it took from when the beams left the unit until they returned. Lightweight rangefinders provide benefits such as faster mobility, and significantly reduced fatigue among troops on account of low weight as well as added built-in functions such as GPS, and data sharing. Many rangefinders have integrated digital accelerometers. Most of them are equipped with visual displays and have a far greater ranging distance as well as faster speeds. Importantly they are more accurate.

Increased focus on the modernization of the defense equipment, rise in the demand for rangefinders for accuracy in various activities, demand for high precision equipment in industrial processes and technological advancements in electro-optics are some of the primary factors driving the growth of the global rangefinder market. One of the important limitation of rangefinder is that huge costs are incurred in the development of rangefinders. This is one of the factors hampering the growth of rangefinder market. Efforts are being taken by many companies to upgrade their research and development activities to introduce innovations in this field.

The global rangefinder market is segmented on the basis of type, end-use, application and region. On the basis of type, the rangefinder market is segmented into ultrasonic and laser. A laser rangefinder designed for golfers is most of the times used for hunting and vice versa. Hunters largely benefit from purchasing rangefinders that are specifically designed for hunting. The laser rangefinder are most commonly used in the field of sports whereas ultrasonic rangefinders are used in case of industrial robotics. Laser rangefinders give golfers pinpoint flag accuracy and that is one of the reasons many golfers prefer them over more simplistic GPS watches and other smaller units. Ultrasonic Rangefinder uses sound pulses to measure distance. On the basis of end-use, the rangefinder market is segmented into commercial, defense and sports. Increasing adoption of automation in the automotive, process industry and construction industries has propelled the demand for rangefinders in the commercial sector. On the basis of application, the market is segmented into golf, forestry, ballistic and virtual reality. Rangefinders may be used by users of firearms over long distances, to measure the distance to a target in order to allow for projectile drop. Rangefinders have been used in virtual reality systems to detect operator movements as well as locate objects. In photography, rangefinder camera allows the photographer to measure the subject distance and take photographs that are in sharp focus. Geographically, the rangefinder market can be segmented into North America, Europe, Middle East & Africa, Latin America and Asia-Pacific.

Some of the key players operating in the global rangefinder market are Elbit Systems Ltd., Kongsberg Gruppen ASA, Lockheed Martin Corporation, Saab AB, Northrop Grumman, UTC Aerospace Systems, FLIR Systems, Rheinmetall AG and Thales Group among others.

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