Dublin, May 11, 2023 (GLOBE NEWSWIRE) -- The "Military Laser Systems Market Size, Share & Industry Growth Analysis Report by Application (Weapons and Non-weapons), Technology, Platform, End Use, Output Power - Global Growth Driver and Industry Forecast to 2028" report has been added to ResearchAndMarkets.com's offering.
The military Laser systems market size is projected to grow from USD 5.0 billion in 2023 to USD 7.5 billion by 2028, at a CAGR of 8.7% during the forecast period.
Directed Energy Weapon Segment: The largest share of the military Laser systems market by end use in 2023.
The directed energy weapon segment held largest share of the military Laser systems market by end use in 2023. The defense sector witness increases in integration of directed energy weapons on military platforms such as naval ships, fighter aircraft, armoured vehicles, and satellites.
In recent decades, several defense manufacturers and integrators have been researching and developing laser weapons, which are now widely are rapidly adopted ing by several defense forces to enhance their defense capabilities. In March 2021, Raytheon Intelligence & Space was awarded a USD 15.5 million contract by the US Air Force Lifecycle Management Center to build and deliver an upgraded version of its high-energy laser weapon system, or HELWS.
Moreover, In January 2021, Rheinmetall AG and MBDA won a contract to develop a naval laser weapons system for the German Navy. In addition, in August 2022, Lockheed Martin Corporation delivered the high-energy laser to US Navy. The high energy laser weapon was installed on warships, which is a 60KW+ laser and is officially known as High Energy Laser Integrated Optical-Dazzler and Surveillance (HELIOS).
10-100 kW Segment: The largest segment of the military Laser systems market by output power in 2023
The 10-100 kW segment has the largest segment of the military Laser systems market by output power in 2023. The laser systems that generate an output power of 10-100 kW are widely used in target acquisition, tracking, and destruction, as well as communication and sensing applications.
In the military, 10-100 kW laser systems are used for anti-missile systems, air defense, and ground-to-air defense, among others. By using the capabilities of medium-energy laser systems, defense systems can take down enemy missiles and aircraft with pinpoint accuracy from a distance without causing harm to nearby people or infrastructure.
Asia Pacific to account for the second largest CAGR in the military Laser systems market during the forecasted year
The demand for military laser systems in Asia Pacific has increased in recent years due to rapid economic development, rising security threats, and increased border disputes. The military spending of China, Japan, and India has been growing in recent years due to the increased possibility of being targeted by terrorist attacks.
Recent conflicts between various countries of the Asia Pacific region, such as North Korea and South Korea, Japan and China, and India and Pakistan, among others, are driving procurements and investments in armored vehicles in this region.
Competitive landscape
Key players in this market include Lockheed Martin Corporation (US), Northrop Grumman Corporation (US), the Boeing Company (US), Coherent Corp. (US), Elbit Systems Ltd. (Israel), Raytheon Technologies Corporation (US), and BAE Systems plc (UK).
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 263 |
| Forecast Period | 2023 - 2028 |
| Estimated Market Value (USD) in 2023 | $5 Billion |
| Forecasted Market Value (USD) by 2028 | $7.5 Billion |
| Compound Annual Growth Rate | 8.7% |
| Regions Covered | Global |
Market Dynamics
Drivers
- Rising Focus on the Development of High Precision Military Laser Systems
- Significant Investments in Modern Weapon System by Governments
- Rise in Defense Budget Owing to Increase Concern Over Nation Security
- Development of Compact Military Laser System for UAV Platforms
Restraints
- Regulatory Hurdles to Impede Market Growth
- High Development and Platforms Integration Costs to Inhibit Market Growth
Opportunities
- Increased Investment in R&D Activities to Design Next Generation Military Systems
- Growing Adoption of UAVs for Military Applications Across the World
Challenges
- Increased Barriers in Designing High Energy Military Laser Systems
- Integration of Military Laser System with Wide Range of Platforms
Value Chain Analysis of Military Laser Systems Market
- Trends/Disruption Impacting Customer Business
- Revenue Shift and New Revenue Pockets for Military Laser System Manufacturers
- Military Laser Systems Market Ecosystem
- Prominent Companies
- Private and Small Enterprises
- End-users
Industry Trends
Technology Trends
- Quantum Cascade Lasers (Qcls)
- Laser Beam Energy
- AI and ML in Military Laser System
- 3D Printing
- Counter-UAVs and Directed Energy Weapon Systems
- Heterogeneous Integration
Impact of Megatrends
- Military Laser Systems for Armed Forces
- Solid-State Lasers to Counter Unmanned Aerial Vehicles
- Military Laser Solutions for Space and Satellite Security
- Operations on Integrated Battlefield with Collaborative Combat
Innovation and Patent Registrations
Use Case Analysis: Military Laser Systems Market
- High Precision Laser Rnagefinder for Target Tracking
- Tactical High Energy Laser by Northrop Grumman Offers Viable Defense Against Threats
- Turkey Became First Nation to Use Military Laser Systems in Combat
- German Navy Integrates High Energy Laser on Frigate and Shoots Down Drone
Company Profiles
Key Players
- Lockheed Martin Corporation
- Raytheon Technologies Corporation
- Northrop Grumman Corporation
- Thales Group
- Bae Systems PLC.
- The Boeing Company
- Textron Inc.
- Rheinmetall AG
- L3Harris Technologies, Inc.
- Coherent Corp.
- Safran SA
- Elbit Systems Ltd.
- Mbda
- Newport Corporation
- Leonardo Spa
Other Players (Start Ups/SMEs)
- Dynetics
- Lumibird SA
- Aqwest LLC
- Bluehalo
- Hensoldt AG
- Frankfurt Laser Company
- Roketsan As
- Kord Technologies
- Mynaric AG
- Alpha Design Technologies
For more information about this report visit https://www.researchandmarkets.com/r/cs6v7e
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