Military Laser Systems Market

Global Military Laser Systems Market Size (2023 to 2028)

The global military laser systems market is expected to be worth USD 5.06 Billion in 2023. It is expected to grow at a CAGR of 8.87% during the forecast period and reach a value of USD 7.74 Billion by 2028.

To respond to various normal and unusual threats, the contemporary military operating environment requires a wide range of tools. Additionally, conventional weapons have proven ineffective in some cases, and thus, their hegemony is slowly fading away with technological developments. Consequently, countries around the world pursuing military predominance devote time and resources to maximize the use of laser technology in guns and other devices for military applications on the ground, sea, space, maritime, and battlefield. Most of the laser weapons used needed a greater supply of power that was fixed to a permanent base. Nevertheless, the devices have become compact and effective to support military applications effectively due to advances in laser technology. One also has limitless firing power these days and doesn't have to impose cumbersome laws to operate. Therefore, today's laser technology needs no weapons and can defend lightweight ground vehicles, small drones, small attack ships, and rockets.

MARKET DRIVERS:

The rising demand for directed-energy weapons in military applications that are compact and power-efficient can strike unlimited bullets with the speed of light, and can stop air, land, and sea targets in their path, is majorly driving the global military laser systems market growth. These systems are foreseen to work as a complementary weapon in disabling rockets and drones on battlefields, which will create lucrative opportunities in the market.

Also, the integration of innovative technologies such as sophisticated beam control and auxiliary technologies in these systems by leading companies like Raytheon International Inc. and Lockheed Martin Corporation, among others, to offer defensive and aggressive capabilities against growing threats to military forces and infrastructure for making these systems will create opportunities for the players in the market. The increasing awareness of the applications of laser systems in the military sector, coupled with the rising investments for their successful execution, is the primary factor that is propelling the growth of the Military Laser Systems Market.

The rising demand for directed-energy weapons in military applications, which are compact and power-efficient, can strike unlimited bullets with the speed of light and can stop air, land, and sea targets in their path, is majorly driving the global military laser systems market growth. These systems are foreseen to work as a complementary weapon in disabling rockets and drones on battlefields, which will create lucrative opportunities in the market. Also, the integration of innovative technologies such as sophisticated beam control and auxiliary technologies in these systems by leading companies like Raytheon International Inc. and Lockheed Martin Corporation, among others, to offer defensive and aggressive capabilities against growing threats to military forces and infrastructure for making these systems will create opportunities for the players in the market.

MARKET RESTRAINTS:

However, the demand for the generation of high-power systems that are integrated with mobility and cost factors are the restraints that are expected to challenge the global military laser systems market. However, the increasing research and development budget of the military sector is estimated to result in resolving the limitations of these military laser systems in the long term with a rich diversity.

REPORT COVERAGE:

This research report on the global military laser systems market has been segmented and sub-segmented into the following categories.

Military Laser Systems Market - By Product:

• Laser Designator
• LIDAR
• 3D Scanning
• Laser Weapon
• Laser Range Finder
• Ring Laser Gyro
• Laser Altimeter

In the product segmentation of the global military laser systems market, the 3D scanning segment is anticipated to grow and record a high CAGR during the forecast period. But at present, the laser weapon segment holds a significant share of the market.

Military Laser Systems Market - By Application:

• Aerospace
• Defense
• Homeland Security

From the application segmentation, the defense segment has dominated the global military laser systems market share and revenue for some time now. Also, this segment is anticipated to grow during the forecast period, continuing its dominance.

Military Laser Systems Market - By Technology:

• Fibre
• Solid State
• Co2
• Semiconductor
• Chemical

Military Laser Systems Market - By Weapon Type:

• Weapon
  • Designator
  • Directed Energy Beam
• Non - Weapon
  • 3d Scanning
  • Gyro
  • Lidar
  • Altimeter
  • Range Finder

Military Laser Systems Market - By Region:

• North America
• Europe
• Asia-Pacific
• Latin America
• The Middle East and Africa

North America dominates the market for military laser systems, followed by Europe, Asia-Pacific, the Middle East, and the rest of the world (RoW). The Middle East is one of the world's top five defense markets, and in the coming years, the Middle East defense spending is expected to increase by fourfold. In the Middle East, the need for military laser systems is increasing, as they could improve force protection against small boat swarms, unmanned aerial vehicles or missiles, artillery, mortar, and missile attacks. This has helped the Middle East region become the fastest-growing region in the market during the forecast period.

KEY MARKET PLAYERS:

Raytheon Company (U.S.), Coherent Inc. (U.S.), Newport Corporation (U.S.), Lockheed Martin Corporation (U.S.) and Thales SA (France) are some of the major companies in the global military laser systems market.