Categories: Market Research

High Energy Lasers Market Forecast 2024-2033: Projected CAGR, Key Drivers, And Trends

Overview and Scope
High energy lasers are designed to be operated at lower power levels than their rated maximum, allowing the mission and limitations to be adapted to the impact on the target. The high energy lasers are used to provide heat to the surface of a target. The basic operational aspects of a HEL are that it is a line-of-sight system, which means that the target must be visible. The time of flight of the beam is nearly nil, and it only transmits thermal energy to a target’s surface over a non-negligible time scale.

Sizing and Forecast
The high energy lasers market size has grown rapidly in recent years. It will grow from $14.72 billion in 2023 to $17.37 billion in 2024 at a compound annual growth rate (CAGR) of 18.0%. The growth in the historic period can be attributed to increased military applications, increased demand from aerospace and defense industry, rise in research and development, increased research and development, increased laser fusion.

The high energy lasers market size is expected to see rapid growth in the next few years. It will grow to $32.95 billion in 2028 at a compound annual growth rate (CAGR) of 17.4%. The growth in the forecast period can be attributed to increasing use for industrial and materials processing, rise in renewable energy, rise in environmental sensing, increasing cybersecurity and data communication, fiber lasers and beam control. Major trends in the forecast period include directed energy weapons (dew), space-based lasers, industrial laser cutting, laser weapon miniaturization trend, solid-state lasers.

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Segmentation & Regional Insights
The high energy lasers market covered in this report is segmented –

1) By Product Type: Gas Laser, Fiber Laser, Solid State Laser, Excime Laser
2) By Application: Cutting, Welding and Drilling, Military and Defence, Communications

North America was the largest region in the high energy lasers market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the high energy lasers market report include Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.

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Major Driver Impacting Market Growth
The rising demand for laser weapon systems in defense is expected to propel the growth of the high-energy laser market going forward. Laser weapons systems are described as systems that solve recognized capability gaps against asymmetric threats (UAS [unmanned aerial systems], small boats, and ISR sensors). Laser weapon systems are in high necessity in the Navy and Airforce across the world to prevent airborne threats like missiles and drones as lasers are effective against missiles and are being used as the first line of defense. For instance, in 2021, the DRDO (Defense Research and Development Organization), an India-based government agency aimed at the production of a high-power laser weapon and is eyeing a budget of $100 million from the Ministry of Defense. As a result, the market is expected to reach $14.7 billion by 2026. Therefore, the rising demand for laser weapon systems in defense is driving the growth of the high-energy lasers market.

Key Industry Players
Major companies operating in the high energy lasers market include Sick AG, Petasense Inc., Allegro MicroSystems Inc., Robert Bosch GmbH, NXP Semiconductors NV, Infineon Technologies AG, Sensoronix Inc., TE Connectivity Inc., Spectec Techno Projects Pvt. Ltd ., Sensor Solutions Corporation, ABB Ltd., Rockwell Automation Inc., STMicroelectronics, Pepperl+Fuchs Group, Schneider Electric SE, TRUMPF Pvt. Ltd., IPG Photonics Corporation, Coherent Inc., nLight Inc., Bae Systems Plc, Alltec Gmbh, Lockheed Martin Corporation, Applied Companies Inc., The Boeing Company, Lumentum Holdings Inc., Bystronic Laser AG, Wuhan Raycus Fiber Laser Technologies Co. Ltd., RUMPF Pvt. Ltd., Laserline GmbH, Daheng Optics Inc.

The high energy lasers market report table of contents includes:

1. Executive Summary

2. High Energy Lasers Market Characteristics

3. High Energy Lasers Market Trends And Strategies

4. High Energy Lasers Market – Macro Economic Scenario

5. Global High Energy Lasers Market Size and Growth

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31. Global High Energy Lasers Market Competitive Benchmarking

32. Global High Energy Lasers Market Competitive Dashboard

33. Key Mergers And Acquisitions In The High Energy Lasers Market

34. High Energy Lasers Market Future Outlook and Potential Analysis

35. Appendix