Selbyville, Delaware,, June 12, 2023 (GLOBE NEWSWIRE) -- The military laser systems market valuation is anticipated to reach USD 9 billion by 2032, as reported in a research study by Global Market Insights Inc.
The industry growth is fueled by significant advancements in laser technologies and the rising defense budgets of various nations worldwide. Laser systems offer superior accuracy and precision compared to traditional weapons, enabling military forces to effectively engage targets with minimal collateral damage. The development of advanced laser systems, such as solid-state lasers and fiber lasers, has significantly enhanced their performance and reliability, further bolstering their demand in military applications.
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Based on application, the military laser systems market is classified into laser communication systems, laser targeting & ranging, and laser countermeasures. The laser countermeasures segment will witness significant growth in the military laser systems industry through 2032. Countermeasures are employed to neutralize and disable enemy sensors, targeting systems, and communication devices. Laser systems are well-suited for these applications, as they can disrupt and disable adversary equipment with precision and at long ranges. As military operations become increasingly complex and reliant on sophisticated electronic systems, the demand for laser countermeasures is expected to rise, further generating the revenues.
Considering product terrain, the industry is divided into laser altimeter, ring laser gyroscope, laser range finder, laser weapon, 3D scanning, LiDAR, and laser designator. The LiDAR segment of military laser systems market will significant traction during 2023 and 2032. LiDAR systems utilize laser pulses to measure distances and create high-resolution 3D maps of the surrounding environment. This technology finds applications in areas such as reconnaissance, target identification, and terrain mapping. With the increasing focus on enhancing situational awareness and improving battlefield intelligence, the demand for LiDAR-based military laser systems will rise in the coming years.
Asia Pacific military laser systems market size will expand at a rapid pace over 2023-2032, as the region is witnessing a significant increase in defense spending, driven by geopolitical tensions and the modernization efforts of various countries. Rapidly expanding economies, such as China and India, are investing heavily in military capabilities, including laser-based weapon systems. Moreover, the presence of established defense contractors and technological advancements in countries like South Korea and Japan further contribute to market growth in the region.
Some major players operating in the military laser systems market are BAE Systems PLC, Coherent Corp, L3Harris Technologies, Inc., Lockheed Martin Corporation, MBDA, Northrop Grumman Corporation, Leonardo S.p.A., Newport Corporation, Raytheon Technologies Corporation, Elbit Systems, Rheinmetall AG, Boeing, and SAFRAN SA.
Military Laser Systems Industry News
- In December 2022, Lockheed Martin, a renowned U.S. defense corporation specializing in the production of aircraft and armaments, announced its collaboration with Israeli company Rafael Advanced Defense Systems. The joint effort aims to develop a cutting-edge laser-based system called Iron Beam designed to counteract missiles and rockets.
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Partial chapters of report table of contents (TOC):
Chapter 2 Executive Summary
2.1 Military laser systems market 360º synopsis, 2018 - 2032
2.2 Business trends
2.3 Regional trends
2.4 Product trends
2.5 Application trends
2.6 Technology trends
2.7 End-use trends
Chapter 3 Military Laser Systems Market Insights
3.1 Impact on COVID-19
3.2 Russia- Ukraine war impact
3.3 Industry ecosystem analysis
3.4 Vendor matrix
3.5 Profit margin analysis
3.6 Technology & innovation landscape
3.7 Patent analysis
3.8 Key news and initiatives
3.9 Regulatory landscape
3.10 Impact forces
3.10.1 Growth drivers
3.10.2 Industry pitfalls & challenges
3.11 Growth potential analysis
3.12 Porter’s analysis
3.13 PESTEL analysis
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Global Market Insights Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider, offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy, and biotechnology.
