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Emergence of Miniaturized EO/IR Systems to Boost Global Military Laser Designator Market Growth
September 24, 2019 | Business WireEstimated reading time: 2 minutes
The global military laser designator market is expected to post a CAGR of close to 5% during the period 2019-2023, according to the latest market research report by Technavio.
The growing demand for UAVs worldwide is attributable to their varied applications in the military and civil and commercial sectors. The use of unmanned electronic warfare systems helps in eliminating the risks associated with the pilot or operators lives, and the long endurance time offers relatively greater coverage when compared with conventional manned aerial vehicles. Laser designators have been successfully integrated into large UAVs such as the Global Hawk and the Predator. Furthermore, major military laser designator vendors have shifted their focus toward the development of miniaturized laser designators to reduce the payload so that they can be mounted on small UAVs. Therefore, such developments for airborne platforms will boost the growth of the market in focus during the forecast period.
As per Technavio, the emergence of miniaturized EO/IR systems, will have a positive impact on the market and contribute to its growth significantly over the forecast period. This research report also analyzes other important trends and market drivers that will affect market growth over 2019-2023.
Global Military Laser Designator Market: Emergence of miniaturized EO/IR systems
Currently, military technology providers are emphasizing on designing miniaturized EO/IR sensors that can be fitted with small-sized laser designators and small-scale UAVs. Miniature laser designator systems are also being deployed as a result of the rapid technological advances and increasing investments. In a recent development, in January 2019, Elbit Systems announced that it had received a contract from Raytheon to deliver Two-Color Laser System (TCLS) for Multi-Spectral Targeting System (MTS), which will be deployed in multiple military airborne platforms, including UAVs. Miniaturized EO/IR systems not only help in developing lightweight laser designators but also ensure enhanced accuracy, efficient military operations, and safety of soldiers. Thus, such developments, are expected to showcase a positive outlook for the market during the forecast period.
“Apart from the increasing use of laser designators in UAVs, the growing application of C4ISR, and increasing demand for lightweight military laser designators are some other factors that are expected to drive the market growth during the forecast period,” says a senior analyst at Technavio.
Global Military Laser Designator Market: Segmentation Analysis
This market research report segments the global military laser designator market by product (vehicle-mounted and man-portable) and geographical regions (North America, APAC, Europe, MEA, and South America).
The North American region led the market in 2018, followed by APAC, Europe, MEA, and South America respectively. During the forecast period, the APAC region is expected to register the highest incremental growth due to the considerable increase in efforts to ensure foolproof border surveillance and protection.
About Technavio
Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.
With over 500 specialized analysts, Technavio’s report library consists of more than 10,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
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