Military Laser Systems Market worth $7.5 billion by 2028 - Exclusive Report by MarketsandMarkets™
Weapons segment is projected to grow at the highest CAGR in the military laser systems market.
CHICAGO, April 25, 2023 /PRNewswire/ -- The Military Laser Systems Market is estimated to be USD 5.0 billion in 2023 and is projected to reach USD 7.5 billion by 2028, at a CAGR of 8.7% during the forecast period according to a new report by MarketsandMarkets™. The driving factor for the military Laser systems market is the significant investments in modern weapon systems by governments. Laser technology is widely used in military communication systems, directed energy weapon systems, and target designation and ranging system among other to enhance the military mission success rate by providing target whereabout, protecting army personnel, and countering and destroying the target.
Download PDF Brochure: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=154285551
Browse in-depth TOC on "Military Laser Systems Market"
249 – Tables
61 – Figures
264 – Pages
Military Laser Systems Market Report Scope:
|
Report Coverage |
Details |
|
Market Revenue in 2023 |
$5.0 billion |
|
Estimated Value by 2028 |
$7.5 billion |
|
Growth Rate |
Poised to grow at a CAGR of 8.7% |
|
Market Size Available for |
2019–2028 |
|
Forecast Period |
2023–2028 |
|
Forecast Units |
Value (USD Billion) |
|
Report Coverage |
Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
|
Segments Covered |
By Application, Technology, Platform, End Use, Output Power and Region |
|
Geographies Covered |
North America, Europe, Asia-Pacific, Middle East Rest of the World |
|
Key Market Challenge |
Design complexity associated with development of multiplatform military laser systems |
|
Key Market Opportunities |
Growing adoption of UAVs for military applications |
|
Key Market Drivers |
Significant investment by the government on weapon modernization to drive growth |
Based on platform, the naval segment is expected to grow at the highest CAGR during the forecast period.
The platform segment has been segmented into land, airborne, naval, and space. The growth of naval segment can be attributed to the increasing development of shipboard weapon system to strengthen maritime border security. For instance, in August 2020, Lockheed Martin Corporation (US) delivered Helios, an advanced 60+ kW-class high-energy laser weapon solution, to the US Navy to enhance their naval capabilities.
Based on application, the weapons segment is projected to grow at the highest CAGR during the forecast period.
Weapons segment is projected to grow at the highest CAGR in the military laser systems market. The growth of this segment is attributed to the growing disagreement with neighboring nations. This factor led to an increase in demand for modern weaponry.
The weapons segment has been further classified into lethal and nonlethal weapons. The lethal weapon have ability to kill or destroy land, naval and aerial threats.
Based on technology, the fiber laser technology is expected to grow at the highest CAGR during the forecast period.
The technology segment has been segmented into solid-state laser, fiber laser, semiconductor laser, gas laser, liquid laser, and free-electron laser. Among these, fiber laser witness strong growth during the forecast period. Fiber lasers are highly compact, robust, efficient, low maintenance, reliable, and long-lasting high-energy lasers. It is widely used in directed energy weapons. The applications of fiber lasers typically include tactical directed energy and power beaming. Electrical fiber lasers can be spectrally combined to produce a high-power, weapon-grade beam, as demonstrated by Lockheed Martin Corporation (US).
Inquiry Before Buying: https://www.marketsandmarkets.com/Enquiry_Before_BuyingNew.asp?id=154285551
Based on region, the North America accounted for largest share in the base year.
The North America region dominated the military laser systems market in 2020. The large share of North America military laser systems market is due to the increased concern over aerial threats and increased defense spending on research and development activities related to laser weapons. The North American military laser systems market includes the US and Canada. The US contributed the largest share to the North America military laser systems market in 2022 due to the increased production, testing, and demonstration of 300+ kW high-energy laser integrated military systems in the country.
Major players operating in the military laser systems market include Northrop Grumman Corporation (US), Raytheon Technologies Corporation (US), Lockheed Martin Corporation (US), Thales Group (France), and BAE System plc (UK) among others. These companies have well-equipped manufacturing facilities and strong distribution networks across North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.
Get 10% Free Customization on this Report: https://www.marketsandmarkets.com/requestCustomizationNew.asp?id=154285551
Browse Adjacent Market: Aerospace and Defence Market Research Reports &Consulting
Related Reports:
Smart Weapons Market by Product (Missiles, Munitions, Guided Projectile, Guided Rocket, Guided Firearms), platform (Air, Land, Naval), Technology (Laser, Infrared, Radar, GPS, Others) & Region - Global Forecast to 2021
Riot Control System Market by End User (Law Enforcement, Military), Product (Offensive Weapons, Defensive Weapons), Technology (Electromagnetic & Sonic Weapons, Kinetic Impact Weapons, Chemical Agents & Others) & Region - Global Forecast to 2021
Directed Energy Weapons Market by Technology (High Energy Lasers, High-power Radio Frequency, Electromagnetic Weapons, Sonic Weapons), Platform (Land, Airborne, Naval, Space), Application, Product, Range and Region - Global Forecast to 2027
C4ISR Market by Platform (Airborne, Land, Naval, Space), Solution (Hardware, Application Software, Services), Application, End User (Defense & Space, Homeland Security, Commercial), Installation and Region - Global Forecast to 2028
Air Defense System Market by Component (Weapon System, Fire Control System, Command and Control System), Type (Missile Defense System, Anti-Aircraft System, C-Ram System), Platform (Land, Naval, Airborne), Range, Region - Global Forecast to 2024
About MarketsandMarkets™
MarketsandMarkets™ is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. We have the widest lens on emerging technologies, making us proficient in co-creating supernormal growth for clients.
The B2B economy is witnessing the emergence of $25 trillion of new revenue streams that are substituting existing revenue streams in this decade alone. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines - TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing.
Built on the 'GIVE Growth' principle, we work with several Forbes Global 2000 B2B companies - helping them stay relevant in a disruptive ecosystem. Our insights and strategies are molded by our industry experts, cutting-edge AI-powered Market Intelligence Cloud, and years of research. The KnowledgeStore™ (our Market Intelligence Cloud) integrates our research, facilitates an analysis of interconnections through a set of applications, helping clients look at the entire ecosystem and understand the revenue shifts happening in their industry.
To find out more, visit www.MarketsandMarkets™.com or follow us on Twitter, LinkedIn and Facebook.
Contact:
Mr. Aashish Mehra
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA: +1-888-600-6441
Email: [email protected]
Visit Our Web Site: https://www.marketsandmarkets.com/
Research Insight: https://www.marketsandmarkets.com/ResearchInsight/military-laser-systems-market.asp
Content Source: https://www.marketsandmarkets.com/PressReleases/military-laser-systems.asp
Logo: https://mma.prnewswire.com/media/660509/MarketsandMarkets_Logo.jpg
View original content:https://www.prnewswire.co.uk/news-releases/military-laser-systems-market-worth-7-5-billion-by-2028---exclusive-report-by-marketsandmarkets-301806503.html
