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.
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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With the rising number of extremist and border security threats, there is an imperative need to reassess the current approach to effective military operations. To render assistance to these missions, Laser weapon systems have come into existence. As a result, the defense authorities around the globe are focusing more on the development and deployment of such systems, thereby lending adequate support to the military missions. As a result, in a bid to make amends with the challenging concerns of the 21st-century digital warfare, the defense authorities across the globe are developing and pursuing advanced laser systems for the global defense forces.
The rising complexity of modern defense systems ensures that asymmetric, low-cost threats will continue to proliferate. At the same time, Laser Weapon Systems have been increasingly proving themselves as serious contenders for specific missions: countering soft, short-range targets such as surface explosives, unmanned aerial vehicles, swarm boats, and sensors. As a result, there is now sufficient evidence to identify, with a high degree of confidence, applications where the Laser Weapon System has a higher likelihood of being a practical tool.
On the basis of platform, the market is segmented into Aerial, Land, and Naval. Land-based systems occupy the largest share in the market. Increasing instances of naval-based systems are being observed across the globe by various countries
The increasing number of security threats across the globe will further increase the demand for Laser Weapon System over the forecast period of 2019-2026.
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Further key findings from the report suggest
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Key questions addressed in the report:
• What market size is the market expected to reach over the forecast period?
• Which factors are expected to hamper market growth between 2021 and 2028?
• Which key factors are expected to driver Global market throughout the forecast period?
• Which application segment is expected to register fastest revenue CAGR over the forecast period?
• Which region is expected to register fastest revenue CAGR over the forecast period?
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)
Power (Revenue, USD Million; 2018–2028)
Platform (Revenue, USD Million; 2018–2028)
Range (Revenue, USD Million; 2018–2028)
Applications (Revenue, USD Million; 2018–2028)
Regional Outlook (Revenue in USD Million; 2018–2028)
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