Market Research Report
North America Laser Weapon Systems Market Forecast to 2028 - COVID-19 Impact and Regional Analysis By Type (Chemical Laser, Solid-State Laser, Free Electron Laser, and Fiber Laser) and Application (Air-based, Ground-based, and Sea-based)
|North America Laser Weapon Systems Market Forecast to 2028 - COVID-19 Impact and Regional Analysis By Type (Chemical Laser, Solid-State Laser, Free Electron Laser, and Fiber Laser) and Application (Air-based, Ground-based, and Sea-based)|
Published: June 3, 2021
The Insight Partners
Content info: 115 Pages
Delivery time: 1-2 business days
The North America laser weapon systems market is expected to grow from US$ 769.84 million in 2021 to US$ 2,645.09 million by 2028; it is estimated to grow at a CAGR of 19.3 % from 2021 to 2028. Technological advancement in laser weapon system fuel the growth of the North America laser weapon systems market. Improvements in laser techniques have resulted in high-energy laser weapons with longer range. Laser weapon-developing companies such as Raytheon Technologies, Lockheed Martin Corporation, and Dynetics Inc. are introducing new developments in laser technologies. For instance, Lockheed Martin is advancing its efforts to deliver High-Energy Laser and Integrated Optical-Dazzler with Surveillance (HELIOS) for the US Navy by combining long-range ISR, laser weapon, and counter-UAS capabilities to enhance situational awareness and layered defense. The market players across North America are launching new laser weapon systems depicting advanced versions with better performance. Therefore, the increasing developments in laser weapon systems give a variety of options to customers, thereby augmenting the North America laser weapon systems market growth.
Countries in North America, especially the US, are highly affected due to the COVID-19 outbreak. The emergence of the outbreak across the region led to lockdown scenarios. Therefore, the industry experts analyzed that the defense equipment manufacturing industry would face 4 weeks to 12 weeks of lag in military electronic part supply chain. This disruption in supply chain damaged the defense equipment manufacturing in 2020 across North America. The recovery period of the COVID-19 pandemic impact on the defense industry is foreseen to be quicker than various other industries. The economic growth has lowered, which delayed the ongoing projects of military and defense up-gradation. The US is one of the major exporters of arms products, but due to the disrupted supply chain and lower economic conditions of importing countries, export revenue is reduced. Enhancing trade relations to support international supply post lockdown would help the market to regain its position. The limited workforce, due to the physical distancing measures, hampered the production activities in country. Also, the disruption in defense electronics supply chain caused damage to the US laser weapon systems market.
Based on type, the fiber laser segment led the North America laser weapon systems market in 2020. Fiber lasers are made from three-layer optical fiber where the gun pumps the light from diode lasers into optical fiber. This laser light travels the fiber's long length with multiple reflecting mirrors and exist at one end. The smaller and cleaner solution offered by fiber lasers is accelerating the market growth for the segment. Also, the smaller size of fiber laser systems makes them suitable for helicopters, ships, and ground vehicles. The increasing focus on fiber lasers as they offer extreme power is also accelerating the market growth for the segment. For instance, the US is aiming to develop fiber lasers at the 100-?kW level to destroy the targets from kilometers away. A few advantages of fiber laser such as more suitable for vehicles, more power, customizable, smaller, and cleaner solution are expected to increase its demand in the coming years, which would drive the growth of the North America laser weapon systems market during the forecast period.
The overall North America laser weapon systems market size has been derived using both primary and secondary sources. To begin the research process, exhaustive secondary research has been conducted using internal and external sources to obtain qualitative and quantitative information related to the North America laser weapon systems market. The process also serves the purpose of obtaining an overview and forecast for the North America laser weapon systems market with respect to all the segments pertaining to the region. Also, multiple primary interviews have been conducted with industry participants and commentators to validate the data, as well as to gain more analytical insights into the topic. The participants of this process include industry experts such as VPs, business development managers, market intelligence managers, and national sales managers, along with external consultants such as valuation experts, research analysts, and key opinion leaders, specializing in the North America laser weapon systems market. Applied Technology Associates; Boeing; Elbit Systems Ltd.; General Atomics; L3Harris Technologies, Inc.; Lockheed Martin Corporation; MBDA; Northrop Grumman Corporation; Raytheon Technologies Corporation; and Rheinmetall AG are among the players operating in the market.