LONDON--(BUSINESS WIRE)--Technavio has announced the top five leading vendors in their recent global military laser designator market 2017-2021 report. This market research report also lists five other prominent vendors that are expected to impact the market during the forecast period.
Competitive vendor landscape
According to the research analysis, the global military laser designator market is expected to grow at a CAGR of more than 5% during the forecast period. The market is highly competitive, with all the players competing to gain the maximum market share. Rapid advances in technology, intense competition, and frequent changes in government policies and environmental regulations are key factors that confront market growth. Vendors compete based on cost, reliability, product quality, and aftermarket service. It is crucial for vendors to provide cost-effective and high-quality military laser designator systems to survive and succeed in this intensely competitive market environment.
“The key vendors primarily focus on the implementation of lightweight materials, electric technologies, and robust systems. Vendors also need to focus on expanding geographically and improving their products,” says Moutushi Saha, lead defense analyst from Technavio.
The report also states that government organizations such as the US Department of Defense, the European Union, and the UK MoD, which serve as certification bodies, encourage the development of such military laser designator systems as they add caliber to the ongoing military operations. As a result, vendors invest in creating effective, new, and cost-efficient military laser designator systems.
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Technavio’s market research analysts identify the following key vendors:
L3 Technologies
L3 Technologies provides command, control, communications, intelligence, surveillance, and reconnaissance systems; avionics; navigation products; and display systems. The company offers a wide range of laser designator systems that provide enhanced accuracy while firing a missile.
Leonardo
Leonardo (formerly Finmeccanica) engages in defense, aerospace, and security businesses globally. North America accounted for close to 40% of the company’s revenue in 2015. Leonardo offers a wide variety for laser designator systems for improved accuracy.
Northrop Grumman
Northrop Grumman develops, designs, manufactures, and commercializes defense equipment and systems. It has a wide and diversified product portfolio that serves various industries such as aviation, defense, homeland security, IT and enterprise solutions, and space.
Thales
Thales provides solutions primarily to the aerospace and defense industries globally. The company has a presence in more than 170 countries across the globe, including France, China, the US, Germany, India, and Japan. It develops various laser designator systems that provide enhanced accuracy while firing a missile.
UTC Aerospace Systems
UTC Aerospace Systems designs, manufactures, and provides service systems and components for advanced aerospace and defense products. It also provides integrated solutions for commercial and military aircraft, helicopters, and other platforms. The company provides its solutions to various sectors such as commercial, business, regional, rotorcraft, space, and defense.
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Technavio is a leading global technology research and advisory company. The company develops over 2000 pieces of research every year, covering more than 500 technologies across 80 countries. Technavio has about 300 analysts globally who specialize in customized consulting and business research assignments across the latest leading edge technologies.
Technavio analysts employ primary as well as secondary research techniques to ascertain the size and vendor landscape in a range of markets. Analysts obtain information using a combination of bottom-up and top-down approaches, besides using in-house market modeling tools and proprietary databases. They corroborate this data with the data obtained from various market participants and stakeholders across the value chain, including vendors, service providers, distributors, re-sellers, and end-users.
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