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, May 3, 2022 /EINPresswire.com/ -- Historically, the Laser Weapons Systems market has grown aggressively over the last decade, with consistent high growth rates. Revenue was $2.03 Bn in 2011 and $4.85 Bn by 2021 (CAGR 9.1%). Recovery from the COVID-19 pandemic also seems to be having a positive impact, with LIDAR systems leading the surge and showing a year-on-year growth rate of 11.8% from 2021 ($0.94 Bn) to 2021 ($1.05 Bn). This surge in LIDAR systems sales is expected to continue through to 2031.

Laser Designator Systems are still the lead product in the market, with a 54% share in 2022. LIDAR systems are expected to increase market share over the coming decade. Currently, LIDAR has 20% of the market and is expected to rise 23.5% market share by 2031.

Type Definitions:
• Laser designators use a laser light source to mark a target for a projectile. Designators have multiple pulses and help achieve better accuracy with the help of their corresponding weapons.
• A LIDAR-based system includes a support, and a plurality of laser transmitters mounted in sets, at different angles.

North America will continue to dominate the market, with 34% of sales in 2022, rising to 38% by 2031. Asia Pacific is a strong second, with 24.5% of the market in 2022, but is expected to have minimal growth by 2031 (24.7%). Western Europe is the third largest market, with 17.7% of the market in 2022, falling to 16.6% of revenue share by 2031.

The relative shifts in overall revenue share are due to faster growth in North America (strongest growth) and Asia Pacific, not by a drop in revenue, as Western Europe is still showing a compound growth rate of 8.4% between 2021-2031.

It is worth noting through Global Market Model that growth rates across the regions flipped between 2019-20. The Middle East growth rate was 21.1%, Eastern Europe was 14.4% and Asia Pacific was 13.4%. In the same period, growth in North America dropped to 4.4% and in Western Europe to 6.6%.
Among the major countries, the USA continues to dominate ($1.51 Bn spend in 2021), with China a distant second ($0.49 Bn spend in 2021). Spend in Russia in 2021 was $0.18 Bn, followed by the UK and India.

As a percentage of country defense budgets, Laser Weapon Systems currently account for 2.04% of total spend in Germany, followed by France, the UK, and then USA.

The laser weapon systems market consists of sales of laser weapon systems and related services 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). Laser weapon systems are direct diode sources with a ruggedized design for withstanding the extensive shock and vibrations due to deployment in harsh environments.

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. 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.

The Laser Weapons Systems Market Report is one of a series of new reports from The Business Research Company that provides laser weapon systems market overviews, analyzes and forecasts laser weapon systems market size, share, laser weapon systems market players, laser weapon systems market segments and geographies, the market’s leading competitors’ revenues, profiles and market shares.

Related reports on this topic include:
https://www.thebusinessresearchcompany.com/report/autonomous-military-weapons-global-market-report

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