Global Military Laser Systems Market Size To Grow USD 10.9 Billion By 2032 | CAGR of 10.01%
The Global Military Laser Systems Market Size was valued at USD 4.2 Billion in 2022 and the worldwide military laser systems market size is expected to reach USD 10.9 Billion by 2032, according to a research report published by Spherical Insights & Consulting. Companies Covered:American Laser Enterprises, LLC, BAE Systems PLC, Coherent Inc., Frankfurt Laser Company, Lockheed Martin Corporation, Newport Corporation, Northrop Grumman Corporation, Quantel, Raytheon Company, Boeing, SAFRAN SA and among others.
New York, United States , June 28, 2023 (GLOBE NEWSWIRE) -- The *Global Military Laser Systems Market Size* is to grow from USD 4.2 Billion in 2022 to USD 10.9 Billion by 2032, at a Compound Annual Growth Rate (CAGR) of 10.01% during the forecast period.
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Military laser systems use direct-to-diode sources with robust designs to withstand the substantial stress and vibrations involved with deployment in hazardous environments. Military lasers are employed to confuse and dazzle opponents in a variety of applications, including targeting systems, night vision equipment, distraction devices, and psychological warfare. Advances in different kilowatt laser combination techniques, beam control technology for energy adjustment, and the use of Artificial Intelligence (AI) are likely to boost demand for laser-directed weapons. The military laser systems market has grown significantly in recent years and is expected to grow further. This growth may be ascribed to several causes, including higher defense spending, developments in laser technology, the requirement for precision-guided weapons, a rising need for updating military assets, and an emphasis on boosting situational awareness and engagement capabilities. Due to the escalation of geopolitical difficulties, the military is implementing cutting-edge laser systems onboard a range of military platforms to serve military personnel's combat and non-combat demands.
The use of laser-based communications for military applications, which are very helpful for tactical and strategic objectives, is a significant contributing factor driving the growth of the military laser systems market. Military laser systems are used for offensive and defensive operations in a range of air, ground, marine, and space missions. Laser-based weapons are also being deployed by several countries and are expected to be the weapons of the future. Moreover, the military and defense sectors invest heavily in R&D and weapon development programs. Furthermore, the market for military laser systems is being pushed partly by a rise in geopolitical issues and terrorist activities throughout the world. Furthermore, the initial cost of developing military laser systems is high due to the necessity for adequate time for research and development, infrastructure for building laser systems from the ground up, field testing, demonstration, and installation.
Browse key industry insights spread across 200 pages with 110 Market data tables and figures & charts from the report on* "**Global Military Laser Systems Market Size**, Share, and COVID-19 Impact Analysis, By Product (LiDAR, 3D Scanning, Laser Weapon, Laser Range Finder), By Application (Laser Countermeasures, Laser Communication Systems, Laser Targeting & Ranging, and Others), By Technology (Fiber Laser, Solid- State Laser, Chemical Laser, CO2 Laser, Semiconductor Laser, and Others), By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2022– 2032" *Get Detailed Report Description Here:
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*The 3D scanning segment is dominating the largest market share over the forecast period.*
The worldwide military laser systems market is segmented by product into LiDAR, 3D scanning, laser weapon, and laser range finder. Among these segments, 3D scanning is the market leader with the highest revenue share over the projection period. 3D laser scanning is one of the most useful technologies the military sector could ever use since it can capture hundreds of photographs per second, collecting all of the features of an object or thing. It is quickly becoming a critical instrument for digitalizing the military and moving forward without compromising human life.
*The laser communication systems segment is influencing the largest market growth over the forecast period.*
The worldwide military laser systems market is divided into many groups based on application, such as laser countermeasures, laser communication systems, laser aiming & ranging, and others. Due to the expansion of data-intensive applications driving the demand for high-bandwidth communication networks in military operations, the laser communication systems segment is leading the market with the biggest revenue share throughout the projection period. Laser communication technologies have developed as a viable option, providing much higher data transfer speeds than traditional Radio Frequency (RF) systems.
*The solid-state laser segment is leading the market with the largest market growth during the forecast period.*
The worldwide military laser systems market is segmented by technology into fiber laser, solid-state laser, chemical laser, CO2 laser, semiconductor laser, and others. Among these segments, solid-state lasers have the biggest market share over the projection period. They are suited for defensive roles such as destroying and illuminating targets for air defense, ship protection, mine destruction, and optoelectronic warfare.
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*Europe led the largest market share over the forecast period.*
Europe has the biggest market share over the projection period. The government's increased emphasis on boosting military equipment, as well as laser weapon advances by manufacturers, are driving market expansion in Europe. Regional market participants are substantially spending on R&D projects to generate new goods. Countries in the region are producing more modern arms by creating alliances with major manufacturers and governments.
*Competitive Analysis:*
The report offers the appropriate analysis of the key organizations/companies involved within the global market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market. Major vendors in Global Military Laser Systems Market include American Laser Enterprises, LLC, BAE Systems PLC, Coherent Inc., Frankfurt Laser Company, Lockheed Martin Corporation, Newport Corporation, Northrop Grumman Corporation, Quantel, Raytheon Company, Boeing, SAFRAN SA, & Others.
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*Recent Development*
*In March 2023, *the US Marine Corps awarded Northrop Grumman Corporation an initial manufacturing and operations contract to build a laser-based Next Generation Handheld Targeting System (NGHTS). NGHTS is a gadget that will assist Marines in improving their target recognition and designation abilities.
*In February 2023, *Bharat Dynamics Limited (BDL) (India) signed a Memorandum of Understanding with Thales Group to assist in the establishment of an Indian manufacturing facility. The development of precision-strike 70mm laser-guided rockets (FZ275 LGR) will be boosted by this facility.
*Market Segment*
This study forecasts revenue at global, regional, and country levels from 2022 to 2032. Spherical Insights has segmented the Global Military Laser Systems Market based on the below mentioned segments:
*Global Military Laser Systems Market, By Product*
· LiDAR
· 3D Scanning
· Laser Weapon
· Laser Range Finder
*Global Military Laser Systems Market, By Application*
· Laser Countermeasures,
· Laser Communication Systems
· laser targeting & ranging
· others
*Global Military Laser Systems Market, By Technology*
· Fiber Laser
· Solid- State Laser
· Chemical Laser
· CO2 Laser
· Semiconductor Laser
· Others
*Military Laser Systems Market, By Regional Analysis*
· *North America*
· US
· Canada
· Mexico
· *Europe*
· Germany
· Uk
· France
· Italy
· Spain
· Russia
· Rest of Europe
· *Asia Pacific*
· China
· Japan
· India
· South Korea
· Australia
· Rest of Asia Pacific
· *South America*
· Brazil
· Argentina
· Rest of South America
· *Middle East & Africa*
· UAE
· Saudi Arabia
· Qatar
· South Africa
· Rest of the Middle East & Africa
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