Laser Weapon Systems Market Demand Is Driven By The Increasing Investments In Military And Defense
Laser Weapon Systems Global Market Report 2022 – Market Size, Trends, And Global Forecast 2022-2026
The Business Research Company’s Laser Weapon Systems Global Market Report 2022 – Market Size, Trends, And Global Forecast 2022-2026
LONDON, GREATER LONDON, UK, February 18, 2022 /EINPresswire.com/ -- The increasing investment in military and defense is expected to contribute to the growth of the global 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. 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. Therefore, the increase in investments in military and defense propels the laser weapon systems market growth.
The global laser weapon systems market size is expected to grow from $4.81 billion in 2021 to $5.39 billion in 2022 at a compound annual growth rate (CAGR) of 11.9%. The growth in the market 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 laser weapon system market is expected to reach $8.53 billion in 2026 at a CAGR of 12.1%.
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https://www.thebusinessresearchcompany.com/report/laser-weapon-systems-global-market-report
Laser weapon system market overview shows that the increasing research and development activities are shaping the 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.
Major players covered in the global 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.
TBRC’s global laser weapon systems market report is segmented by product into laser designator, lidar, 3d laser scanning, laser range finder, ring laser gyro, laser altimeter, by technology into solid state laser, chemical laser, free electron laser, chemical oxygen iodine laser, tactical high energy laser, others, by application into air-based, ground-based, sea-based.
Laser Weapon Systems Global Market Report 2022 – By Product (Laser Designator, LIDAR, 3D Laser Scanning, Laser Range Finder, Ring Laser Gyro, Laser Altimeter), By Technology (Solid State Laser, Chemical Laser, Free Electron Laser, Chemical Oxygen Iodine laser, Tactical High energy laser), By Application (Air Based, Ground Based, Sea Based) – Market Size, Trends, And Global Forecast 2022-2026 is one of a series of new reports from The Business Research Company that provides a laser weapon systems market overview, forecast laser weapon systems market size and growth for the whole market, laser weapon systems market segments, geographies, laser weapon systems market trends, laser weapon systems market drivers, restraints, leading competitors’ revenues, profiles, and market shares.
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