PUBLISHER: The Business Research Company | PRODUCT CODE: 1429848
PUBLISHER: The Business Research Company | PRODUCT CODE: 1429848
Laser weapon systems are directed-energy weapons based on lasers, generating high-energy pulses for impacting the target. These weapons operate on the principle of light amplification through stimulated radiation emission (LASER).
The main types of products in laser weapon systems include laser designators, LIDAR (Light Detection and Ranging), 3D laser scanning, laser range finders, ring laser gyros, and laser altimeters. A laser designator is a type of laser weapons system that enables the designation or surveillance squad to target laser-guided munitions. Different technologies employed in these systems include solid-state laser, chemical laser, free-electron laser, chemical oxygen-iodine laser, tactical high-energy laser, and others. Laser weapon systems are used in air-based, ground-based, and sea-based operations.
The market research report is one of a series of new reports from The Business Research Company that provides laser weapon systems market statistics, including laser weapon systems industry global market size, regional shares, competitors with a laser weapon systems market share, detailed laser weapon systems market segments, market trends and opportunities, and any further data you may need to thrive in the laser weapon systems industry. This laser weapon systems market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The laser weapon systems market size has grown rapidly in recent years. It will grow from $6.24 billion in 2023 to $7.09 billion in 2024 at a compound annual growth rate (CAGR) of 13.5%. The expansion observed in the historical period can be attributed to the growing development of military drones, the rise in aerial attacks, government initiatives, and increasing investment in military and defense.
The laser weapon systems market size is expected to see rapid growth in the next few years. It will grow to $11.58 billion in 2028 at a compound annual growth rate (CAGR) of 13.1%. The anticipated growth in the forecast period can be attributed to the growing defense budgets, the growth of artificial intelligence, increased research and development activities, and the geopolitical situation such as the Russia-Ukraine war. Key trends expected in this period include investments in the integration of artificial intelligence, integrating helios to provide higher energy capability, producing new laser weapons, integrating high-energy lasers, and the development of a laser weapon system demonstrator.
The projected increase in defense budgets is anticipated to play a pivotal role in propelling the laser weapon systems market during the forecast period. With a surge in defense expenditures, governments will have the opportunity to explore new technologies and leverage innovative products to enhance the security of their nations. Notably, in 2021, Germany augmented its defense spending to exceed 2 percent of its economic output. The primary objective behind this increased spending was to safeguard the freedom and democracy of the country. Furthermore, the government has committed to allocating 100 billion euros ($109.07 billion) for military investments from its 2022 budget.
The anticipated growth in artificial intelligence is set to drive the laser weapon systems market in the forecast period. Artificial Intelligence (AI) involves replicating human intelligence in machines or computer systems to execute tasks typically requiring human intelligence. AI offers numerous advantages for laser weapon systems, elevating their capabilities and enhancing their effectiveness in diverse ways. For example, in January 2022, the UK Government Digital Service reported that spending on AI technologies is expected to escalate from $20.25 billion in 2020 to $101.26 billion in 2040, with a compound annual growth rate of 8.4%. Thus, the expansion of artificial intelligence is a catalyst for the laser weapon systems market.
The increasing focus on research and development activities in laser weapons is shaping the landscape of the laser weapon systems market. With escalating defense budgets and research grants, military forces worldwide are deploying high-energy laser equipment and making substantial investments in research and development. For instance, in May 2021, the US military initiated research on a prototype laser weapon for short-range air defense, featuring a 50-kilowatt high-energy laser mounted on a designated position of a Stryker A1 vehicle to detect, track, and neutralize air threats.
The integration of artificial intelligence emerges as a prominent trend gaining traction in the laser weapon systems market. Artificial intelligence (AI) denotes the capability of a computer or a robot controlled by a computer to perform tasks that typically demand human intelligence and judgment. AI aids in minimizing human errors, reducing risks, and providing digital assistance as needed. It also contributes to automated processes in target identification, categorization, aimpoint selection, and maintenance. Notably, in the ongoing conflict between Russia and Ukraine, Russia has employed and integrated AI in its military operations, deploying AI-enabled robotic weapons, autonomous tanks, Unmanned Aerial Vehicles (UAVs), and precision-guided long-range missiles to target bases in Ukraine.
In June 2022, Lumibird, a France-based laser technology company, acquired a laser rangefinder business from Saab for an undisclosed amount. This acquisition will enable Lumibird to expand its portfolio in the European market, offering a broader range of rangefinders and laser systems. Saab, a Sweden-based firm, specializes in designing advanced systems across various sectors, including aeronautics, weapons, underwater operations, and command and control.
Major companies operating in the laser weapon systems market report are Raytheon Technologies Corporation, The Boeing Company, Lockheed Martin Corporation, Leidos Holdings Inc., Elbit Systems Ltd., General Atomics, Northrop Grumman Corporation, BAE Systems, BlueHalo, Saab, Excel Laser Technology Private Limited, Acuity Laser Measurement, Prakash Laser, Infrared Optics, Kalaimakal Systems Private Limited, Baoding Triangel Rsd Electronics Technology Limited, Beijing Be-Better Technology Co. Ltd., Shanghai Apolo Medical Technology Co. Ltd., Zhangjiagang Baorui Machinery Co. Ltd., Guangzhou Blixun Electronics Co. Ltd., Jilin Ruikd Medical Photoelectric Technology Co. Ltd., Xi'an Lonn M&E Equipment Co. Ltd., Guangzhou Futai Beauty Equipment Co. Ltd., Leonardo, Thales Group, CILAS, MBDA, Kalashnikov Group, Almaz-Antey, United Aircraft Corporation, Tactical Missiles Corporation, Uralvagonzavod, Applied Technology Associates, Alma Lasers Ltd., Laser Ammo, Sarine Technologies Ltd., Meprolight, STI Laser Industries, NeoLaser, Zmed Laser, ARIEL Photonics Assembly, LaserOp, LASER FZCO, Matrix Laser, Trotec laser, Digi Matrix Technologies.
North America was the largest region in the laser weapon systems market in 2023. North America is expected to be the fastest-growing region in the forecast period. The regions covered in the laser weapon systems market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The countries covered in the laser weapon systems market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Italy, Spain, Canada.
The laser weapon systems market consists of sales of high energy laser weapon systems, and high-powered microwaves. Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
Laser Weapon Systems Global Market Report 2024 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on laser weapon systems market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for laser weapon systems? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The laser weapon systems market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
The impact of sanctions, supply chain disruptions, and altered demand for goods and services due to the Russian Ukraine war, impacting various macro-economic factors and parameters in the Eastern European region and its subsequent effect on global markets.
The impact of higher inflation in many countries and the resulting spike in interest rates.
The continued but declining impact of covid 19 on supply chains and consumption patterns.