The rising number of security threats to countries across the globe as well as the fast delivery of the beam for disabling the targets is a major factor for the growth of the market over the forecasted period. However, the high cost of equipment will be a significant factor obstructing the growth of the market in the coming years.
Market Size – USD 8.32 Billion in 2020, Market Growth -
CAGR of 10.80%, Market Trends – Growing demand for laser weapon systems in the
Navy as well as the changing nature of warfare from conventional to urban areas
is creating a massive opportunity for Laser weapon systems to evolve.
According to the current analysis of Reports and Data, the
global Laser
Weapon System market was USD 8.32 Billion in 2020 and is projected to
grow at a CAGR of 10.80%. Fast delivery of the beam in comparison to the
kinetic weapons is one of the factors responsible for the growth of the market.
Increasing investments by various countries are a major driver for the growth
of the market.
Laser Weapon systems are the class of weapons that operate
on the principle of LASER (Light Amplification by Stimulated Emission of
Radiation). Laser weapon systems generate high-energy pulses, which make them
explosive enough for an impact on target. With the rise in the number of armed
conflicts as well as disputes in recent years, the demand for procurement and
development of advanced laser weapon systems has been increasing in various
countries. Laser systems are increasingly being utilized for offensive as well
as defensive purposes.
The increasing number of security threats across the globe
will further increase the demand for Laser Weapon System over the forecast
period of 2019-2028.
Key participants
include BAE Systems (U.S.), Azimuth Corp. (U.S.), Boeing (U.S.), General
Atomics (U.S.), Raytheon (U.S.), Lockheed Martin (U.S.), Thales (France),
Northrop Grumman (U.S.), Kratos (U.S.), and Rheinmetall AG (Germany).
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Further
key findings from the report suggest
- The
land platform segment is projected to occupy the largest share in the
market.
- A
significant challenge for the market is the improvement of the component
as well as system integration, susceptibility to degradation due to
atmosphere, and technical challenges towards developing high energy
sources.
- An
alternative to Fiber laser system is the coherent beam combination, which
seeks to carefully match the phases of beams from separate fiber lasers or
amplifiers in an effort to yield high power beams.
- There
is no collateral damage to the environment from the use of lasers, for
instance, from bombings or hazardous chemicals.
- Based
on geography, North America is the leading region in terms of market share
in 2018. The region occupied over 35% of the market share in 2018 and is
projected to grow at a high CAGR through the forecasted period.
- The
U.S. spent over USD 640 Billion on defense, which is still more than the
combined defense spending of countries like China, Saudi Arabia, India,
France, Russia, the United Kingdom, and Germany. This large chunk of
spending presents a potential opportunity for players in the Laser Weapon
System market.
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Summary
For the purpose of this study, Reports and Data has
segmented the Laser Weapon System Market on the basis of Technology, Power,
Platform, Range, Application, and Region:
Technology (Revenue, USD Million; 2018–2028)
- Solid
State Laser
- Chemical
Laser
- Free
Electron Laser
- Chemical
Oxygen Iodine laser
- Tactical
High energy laser
- Others
Power (Revenue, USD Million; 2018–2028)
- Less
than 25kW
- 25
to 70kW
- More
than 70kW
Platform (Revenue, USD Million; 2018–2028)
- Aerial
- Land
- Naval
Range (Revenue, USD Million; 2018–2028)
- Less
than 250ms
- 251
to 600ms
- More
than 600ms
Applications (Revenue, USD Million; 2018–2028)
- Marking
target
- Guiding
Munitions
- Missile
Defense
- Electro-optical
Countermeasures
- Blinding
troops
- Others
Regional Outlook (Revenue in USD Million; 2018–2028)
- North
America
- Asia
Pacific
- Rest
of the World
- Middle
East & Africa
- Latin
America
Key Questions Answered In The Report
1.
What
will be the market size and growth rate in the forecast year?
2.
What
are the key factors driving the global Laser Weapon System market?
3.
What
are the risks and challenges in front of the market?
4.
Who
are the key players in the global Laser Weapon System market?
5.
What
are the trending factors influencing the market shares?
6.
What
are the key outcomes of Porter’s five forces model?
7.
Which
are the global opportunities for expanding the global Laser Weapon System
market?
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Table of Contents:
- Global Laser Weapon System Market
Overview
- Economic Impact on Industry
- Market Competition by
Manufacturers
- Production, Revenue (Value) by
Region
- Market Effect Factors Analysis
- Industrial Chain, Sourcing
Strategy and Downstream Buyers
- Supply (Production), Consumption, Export,
Import by Regions
- Production, Revenue (Value), Price
Trend by Type
- Global Laser Weapon System Market
Forecast
- Global Laser Weapon System Market
Analysis by Application
- Manufacturing Cost Analysis
- Marketing Strategy Analysis,
Distributors/Traders
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