Major players in the laser weapon systems market are Applied Technology Associates, Boeing, Elbit Systems Ltd. , General Atomics, BAE Systems, Lockheed Martin Corporation, MBDA, Northrop Grumman Corporation, Raytheon Technologies Corporation, Rheinmetall AG, Thales Group, Kratos, Leidos, Leonardo SpA, and Rafael Advanced Defense Systems.
New York, Oct. 12, 2021 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Laser Weapon Systems Global Market Report 2021: COVID-19 Growth And Change" - https://www.reportlinker.com/p06173900/?utm_source=GNW
The global laser weapon systems market is expected to grow from $3.86 billion in 2020 to $4.37 billion in 2021 at a compound annual growth rate (CAGR) of 13.2%. The growth is mainly due to the companies resuming their operations and adapting to the new normal while recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The market is expected to reach $10.03 billion in 2025 at a CAGR of 23.1%.
The laser weapon systems market consists of sales of laser weapons by entities (organizations, sole traders, and partnerships) that manufacture directed-energy weapons based on lasers.The laser weapon system generates high-energy pulses, that enable an impact on the target.
This type of weapon works on the principle of light amplification through stimulated radiation emission (LASER).
The main types of products in laser weapons systems are laser designator, LIDAR, 3D laser scanning, laser range finder, ring laser gyro, and laser altimeter.Laser designator is a type of laser weapons system that allows laser designation or surveillance squad to target the designation of laser-guided munitions.
The different technologies include solid-state laser, chemical laser, free-electron laser, chemical oxygen-iodine laser, tactical high energy laser, others and is used in air-based, ground-based, and sea-based operations.
North America was the largest region in the laser weapon systems market in 2020. The regions covered in this report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
The increasing research and development activities in laser weapons are shaping the laser weapon systems market.With growing defense budgets and research grants, militaries around the world are using high-energy laser equipment and investing heavily in research and development.
For instance, in May 2021, the US military began research on a prototype laser weapon for short-range air defense, which is a 50-kilowatt high-energy laser mounted on an identifiable position of a Stryker A1 vehicle to lock, track and destroy air threats.
In November 2019, nLight, a US-based developer of high-power semiconductor and fiber lasers, acquired Nutronics for $17.5 million. This acquisition provided nLight customers with a wide range of directed energy products from semiconductor lasers to beam control. Nutronics specializes in coherent lasers and beams control systems for high-energy laser (HEL) systems for the defense sector.
The increasing investment in military and defense is expected to contribute to the growth of the laser weapon systems market in the coming years.Air-based laser weapon systems provide flexibility and accuracy for self-protection against aircraft, missiles, and ground-based weapons in the military and defense sectors.
For instance, according to the Stockholm International Peace Research Institute, global military spending rose to $1981 billion in 2020, a 2.6% increase from 2019. Furthermore, in April 2021, the US Air Force granted a $15.5 million deal for Raytheon Technologies, a US-based aerospace and defense company to develop an enhanced version of a dune buggy-mounted laser weapon system and in 2019, Raytheon Technologies was also granted a $23.8 million deal for two prototypes of the high-energy laser weapon system (HELWS). Therefore, the increase in investments in military and defense propels the market for laser weapon systems.
The countries covered in the laser weapon systems market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
Read the full report: https://www.reportlinker.com/p06173900/?utm_source=GNW
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