Chicago, Feb. 16, 2023 (GLOBE NEWSWIRE) -- Markets N Research has recently released expansive research on Global Military Laser Systems Market with 220+ market data Tables, Pie Chart, and Graphs & Figures spread through Pages and easy to understand detailed analysis. The report endows with wide-ranging statistical analysis of the market’s continuous developments, capacity, production, production value, cost/profit, supply/demand and import/export. This market report provides best solutions for strategy development and implementation depending on client’s needs to extract tangible results. This market research report serves the clients by providing data and information on their business scenario with which they can stay ahead of the competition in today's rapidly changing business environment.
As per the report titled "Military laser systems Market Size, Share & COVID-19 Impact Analysis, By Product (Laser Designator, LIDAR, 3D Scanning, Laser Range Finder, Ring Laser Gyro and Laser Altimeter), By Application (Aerospace and Homeland Security), By Technology (Fiber Laser, Solid-State Laser, Chemical Laser, CO2 Laser and Semiconductor Laser), and Regional Forecasts, 2023-2030" observes that the market size in 2022 stood at USD 4.9 billion and USD 8.2 billion in 2030. The market is expected to exhibit a CAGR of 8.90% during the forecast period.
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Military Laser Systems Market Analysis:
A significant increase in geopolitical disputes and terrorist activities worldwide is primarily driving the market for military laser systems. Additionally, the market is expanding due to the increasing use of various laser-based military solutions, such as offensive laser systems, perimeter breach detection systems, laser countermeasure systems, etc., in threat reduction and weapon guidance applications. Rising defense industry investments and numerous military modernization initiatives are further boosting the global market.
Recent Development:
- January 2021: To track space objects, South Korea has announced a 45 billion dollar investment over the next five years.
Report Scope:
| Report Coverage | Details |
| Forecast Period | 2023-2030 |
| Forecast Period 2023 to 2030 CAGR | 8.90 % |
| 2030 Value Projection | 8.2 billion |
| Base Year | 2022 |
| Market Size in 2022 | 4.9 billion |
| Historical Data for | 2016 - 2021 |
| Segments covered | By Product Type, By Application, By Technology and By Geography |
| Regional Scope | North America, Europe, Asia Pacific, Middle East & Africa, and South & Central America |
List Of Key Companies Profiled:
- BAE Systems PLC
- Coherent Inc.
- Elbit Systems Ltd.
- Lockheed Martin Corporation
- MKS Instruments Inc.
- Northrop Grumman Corporation
- Rafael Advanced Defense Systems Limited
- Raytheon Technologies Corporation
- Thales Group
- The Boeing Company
Partnership between Germany GmbH and MBDA Rheinmetall Waffe Munition GmbH
In 2021, A collaboration made up of MBDA Rheinmetall Waffe Munition GmbH, and Deutschland GmbH was given a contract by Germany's federal agency for information technology and in-service support (BAAINBw) to integrate manufacture, and support testing of laser weapons for the Bundeswehr.
Major Players Develop Acquisition Plans to Boost Brand Image
The leading businesses in the military laser systems market plan acquisitions to improve their brand recognition globally. For instance, in January 2021, a High Energy Laser with an integrated optical-Dazzler had been delivered to the US Navy, according to American aerospace manufacturer Lockheed Martin.
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Our Free Sample Report Consists of the following:
- Introduction, Overview, and in-depth industry analysis are all included in the 2022 updated report.
- The COVID-19 Pandemic Outbreak Impact Analysis is included in the package
- About 220+ Pages Research Report (Including Recent Research)
- Provide detailed chapter-by-chapter guidance on the Request
- Updated Regional Analysis with a Graphical Representation of Size, Share, and Trends for the Year 2022
- Includes Tables and figures have been updated
- The most recent version of the report includes the Top Market Players, their Business Strategies, Sales Volume, and Revenue Analysis
- MNR research methodology
Driving Factors:
- The Market's Expansion Will Be Fuelled By The Advancement Of Laser-Based Communication
Due to the importance of the tactical and strategic actions covered by military communication, a high level of confidentiality is required. At the moment, the majority of these conversations take place across radio frequencies with constrained radio spectrums. Defense establishments are concentrating on developing laser networks that provide better bandwidth because this prevents widespread adoption in the military sector. For instance, the U.S. Office of Naval Research's Future Naval Capabilities program supported the development of the laser-based communication system TALON (Tactical Line-of-Sight Optical Network) in 2013. This advancement has demonstrated that radio-frequency-based communication systems cannot match the speed of laser communications, which can go up to a thousand times quicker.
- Increased Research and Development to Support the Growth of the Industry
It is anticipated that technological advancements and higher spending in R&D activities will support market expansion during the forecast period. These military lasers are precise for use at a distance. These technologies can also be utilized for laser communication, in addition. In this aspect, lasers provide brief pulses with minimal energy consumption. Laser systems are employed in military applications to shield personnel from various threats, including missiles, drones, and artillery rounds. Military lasers are also undetectable by people, don't make tiny sonic booms, and are noiseless. As a result, the rising demand for military laser systems is expected to support market expansion in the next years.
Restraining Factors:
- Current Laser Weapon System Restrictions Pose A Significant Obstacle To The Market's Expansion
Laser beams can reach their target in a matter of nanoseconds because they move at the speed of light, which is faster than the speed of any physical object. However, the weapon's targeting mechanism must first identify the target before the laser beam can be pointed at it. The weapon's tracking system then directs a beam toward the target's motion or projectile, holding it there for sufficient time to burn a hole in the target. Current laser weapon systems cannot pinpoint the precise spot on some weaponized attack systems because they move at high speeds, such as ballistic and cruise missiles.
Challenging Factors:
- Military Laser System Market Expansion Is Constrained By High Costs And Strict Regulations
The main market limitation is the necessity to produce high power systems while taking costs into account. The cost of research and development is considerable, which may reduce the market value of military laser systems. The government's strict regulations are anticipated to challenge the market. In addition, the less developed areas are now aware of the laser systems, which may pose a problem for the market in the future. The leading companies are attempting to advance market trends for military laser systems by overcoming these obstacles.
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Global Military Laser Systems Market Segmentations:
Global Military Laser Systems Market By Product Type:
- Laser Designator
- LIDAR
- 3D Scanning
- Laser Range Finder
- Ring Laser Gyro
- Laser Altimeter
Global Military Laser Systems Market By Application:
- Aerospace
- Homeland Security
Global Military Laser Systems Market By Technology:
- Fiber Laser
- Solid-State Laser
- Chemical Laser
- CO2 Laser
- Semiconductor Laser
Global Military Laser Systems Market Regional Insights:
North America is projected to hold the largest military laser systems market share over the forecast period. The region's military sector is developed and well-supported by a robust infrastructure for research and development. Additionally, the area has recently run several programs to create laser-based weapon systems. The military of the United States wants to equip its ships, planes, and land vehicles with laser-based weaponry. On the other hand, the Asia Pacific military laser systems market is anticipated to grow significantly.
Further Report Findings:
- The market in North America is expected to gain a huge portion of the global military laser systems market share in the coming years. The advancement of technology and increasing military spending are responsible for the development of this area.
- The US and Canada are predicted to have the largest market shares.
- In the Asia Pacific, the growth in this region is primarily driven by the presence of significant key players and developing countries. It is anticipated that many laser-based technologies will be installed in nations like China and India.
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Key questions answered in this report:
- What is the size of the Military Laser Systems market and what is its expected growth rate?
- What are the primary driving factors that push the Military Laser Systems market forward?
- What are the Military Laser Systems Industry's top companies?
- What are the different categories that the Military Laser Systems Market caters to?
- What will be the fastest-growing segment or region?
- In the value chain, what role do essential players play?
- What is the procedure for getting a free copy of the Military Laser Systems market sample report and company profiles?
Key Offerings:
Table of Content
Chapter 1: Preface
Chapter 2: Report Summary
Chapter 3: COVID 19 Impact Analysis
Chapter 4: Global Military Laser Systems Market, By Product Type Segment Analysis
Chapter 5: Global Military Laser Systems Market, By Application Segment Analysis
Chapter 6: Global Military Laser Systems Market, By Technology Segment Analysis
Chapter 7: Military Laser Systems Market – Regional Analysis, 2023 – 2030
Chapter 8: Military Laser Systems Market – Industry Analysis
Chapter 9: Competitive Landscape
Chapter 10: Company Profiles
Chapter 11: Research Methodology
Chapter 12: Questionnaire
Chapter 13: Related Reports
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Key Insights from Primary Research/Key Insights & Findings from the report:
- As per the analysis shared by our primary respondents, the Military Laser Systems market is expected to grow annually at a CAGR of around 8.90%.
- Through primary research, it was established that the Military Laser Systems market was valued at around USD 4.9 billion in 2022.
- The Military Laser Systems market is segmented based on product: laser designator, LIDAR, 3D scanning, laser range finder, ring laser gyro and laser altimeter. The 3D scanning category was predicted to show maximum market share in the year 2021.
- The key factor driving the market is Advancement Of Laser-Based Communication
- The “North America” region will lead the global Military Laser Systems market during the forecast period 2022 to 2030.
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