Overview and Scope
The laser weapon systems refer to directed-energy weapons based on lasers. The laser weapon system generates high-energy pulses, that enable an impact on the target. This type of weapon works on the principle of light amplification through stimulated radiation emission (LASER).
Sizing and Forecast
The laser weapon systems market size has grown rapidly in recent years. It will grow from $6.24 billion in 2023 to $7.09 billion in 2024 at a compound annual growth rate (CAGR) of 13.5%. The growth in the historic period can be attributed to growing development in military drones, rise in aerial attacks, government initiatives and increasing investment in military and defense.
The laser weapon systems market size is expected to see rapid growth in the next few years. It will grow to $11.58 billion in 2028 at a compound annual growth rate (CAGR) of 13.1%. The growth in the forecast period can be attributed to the growing defense budgets, growth in artificial intelligence, increased research and development activities and russia ukraine war. Major trends in the forecast period include investing in the integration of artificial intelligence, integrating helios to provide higher energy capability, producing new laser weapons, integrating high-energy lasers and developing of a laser weapon system demonstrator.
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Segmentation & Regional Insights
The laser weapon systems market covered in this report is segmented –
1) By Product: Laser Designator, Lidar, 3d Laser Scanning, Laser Range Finder, Ring Laser Gyro, Laser Altimeter
2) By Technology: Solid State Laser, Chemical Laser, Free Electron Laser, Chemical Oxygen Iodine Laser, Tactical High Energy Laser, Others
3) By Application: Air Based, Ground Based, Sea Based
North America was the largest region in the laser weapon systems market in 2023. North America is expected to be the fastest-growing region in the forecast period. The regions covered in the laser weapon systems market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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Major Driver Impacting Market Growth
Growing defense budgets are a major driver of the laser weapon systems market in the forecast period. With a rise in defense budgets, governments will have the option to explore new technology and utilize innovative products in maintaining and improving the security of their country. For instance, in 2021, Germany increased its defense spending to more than 2 percent of its economic output. The major aim of the increased spending was to protect the freedom and democracy of the country. Moreover, the government has decided to supply 100 billion euros ($1.09.07 billion) for military investments from its 2022 budget.
Key Industry Players
Major companies operating in the laser weapon systems market report are Raytheon Technologies Corporation, The Boeing Company, Lockheed Martin Corporation, Leidos Holdings Inc., Elbit Systems Ltd., General Atomics, Northrop Grumman Corporation, BAE Systems, BlueHalo, Saab, Excel Laser Technology Private Limited, Acuity Laser Measurement, Prakash Laser, Infrared Optics, Kalaimakal Systems Private Limited, Baoding Triangel Rsd Electronics Technology Limited, Beijing Be-Better Technology Co. Ltd, Shanghai Apolo Medical Technology Co. Ltd, Zhangjiagang Baorui Machinery Co. Ltd, Guangzhou Blixun Electronics Co. Ltd, Jilin Ruikd Medical Photoelectric Technology Co. Ltd, Xi’an Lonn M&E Equipment Co. Ltd, Guangzhou Futai Beauty Equipment Co. Ltd, Leonardo, Thales Group, CILAS, MBDA, Kalashnikov Group, Almaz-Antey, United Aircraft Corporation, Tactical Missiles Corporation, Uralvagonzavod, Applied Technology Associates, Alma Lasers Ltd, Laser Ammo, Sarine Technologies Ltd, Meprolight, STI Laser Industries, NeoLaser, Zmed Laser, ARIEL Photonics Assembly, LaserOp, LASER FZCO, Matrix Laser, Trotec laser, Digi Matrix Technologies.
The laser weapon systems market report table of contents includes:
1. Executive Summary
- Laser Weapon Systems Market Characteristics
- Laser Weapon Systems Market Trends And Strategies
- Laser Weapon Systems Market – Macro Economic Scenario
- Global Laser Weapon Systems Market Size and Growth
.
- Global Laser Weapon Systems Market Competitive Benchmarking
- Global Laser Weapon Systems Market Competitive Dashboard
- Key Mergers And Acquisitions In The Laser Weapon Systems Market
- Laser Weapon Systems Market Future Outlook and Potential Analysis
- Appendix
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