Laser Weapon System Market Size Worth $34.02 Billion By 2028 At A CAGR Of 10.80% - Reports And Data

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Reports and Data

Laser Weapon System market Size – USD 8.32 Billion in 2020, Market Growth - CAGR of 10.80%, Growing demand for laser weapon systems in the Navy

NEW YORK, NY, UNITED STATES, September 9, 2022 /EINPresswire.com / -- The rising number of security threats to countries across the globe as well as the fast delivery of the beam for disabling the targets is a major factor for the growth of the market over the forecasted period. However, the high cost of equipment will be a significant factor obstructing the growth of the market in the coming years.

Market Size – USD 8.32 Billion in 2020, Market Growth - CAGR of 10.80%, Market Trends – Growing demand for laser weapon systems in the Navy as well as the changing nature of warfare from conventional to urban areas is creating a massive opportunity for Laser weapon systems to evolve.

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.

The increasing number of security threats across the globe will further increase the demand for Laser Weapon System over the forecast period of 2019-2028.

Some of the key participants in this Laser Weapon System industry include:

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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Some Key Highlights From the Report

•The land platform segment is projected to occupy the largest share in the market.
•A significant challenge for the market is the improvement of the component as well as system integration, susceptibility to degradation due to atmosphere, and technical challenges towards developing high energy sources.
•An alternative to Fiber laser system is the coherent beam combination, which seeks to carefully match the phases of beams from separate fiber lasers or amplifiers in an effort to yield high power beams.
•There is no collateral damage to the environment from the use of lasers, for instance, from bombings or hazardous chemicals.
•Based on geography, North America is the leading region in terms of market share in 2018. The region occupied over 35% of the market share in 2018 and is projected to grow at a high CAGR through the forecasted period.
•The U.S. spent over USD 640 Billion on defense, which is still more than the combined defense spending of countries like China, Saudi Arabia, India, France, Russia, the United Kingdom, and Germany. This large chunk of spending presents a potential opportunity for players in the Laser Weapon System market.

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Segmentation :

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)

Solid State Laser
Chemical Laser
Free Electron Laser
Chemical Oxygen Iodine laser
Tactical High energy laser
Others

Power (Revenue, USD Million; 2018–2028)

Less than 25kW
25 to 70kW
More than 70kW

Platform (Revenue, USD Million; 2018–2028)

Aerial
Land
Naval

Range (Revenue, USD Million; 2018–2028)

Less than 250ms
251 to 600ms
More than 600ms

Applications (Revenue, USD Million; 2018–2028)

Marking target
Guiding Munitions
Missile Defense
Electro-optical Countermeasures
Blinding troops
Others

Regional Outlook (Revenue in USD Million; 2018–2028)

North America
Asia Pacific
Rest of the World
Middle East & Africa
Latin America

Key Questions Answered In The Report

•What was the global laser weapon system market valued at in 2020?
•Which is a major factor expected to drive growth of the global laser weapon system market?
•Which of the platform segments is expected to account for major revenue share in the global market, in 2028?
•Which regional market is expected to account for major revenue share in the global market in 2028?
•What is the expected revenue CAGR for the global laser weapon system market during the forecast period?

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Table of Contents:

Chapter 1. Market Synopsis

Chapter 2. Executive Summary

Chapter 3. Indicative Metrics

Chapter 4. Global Laser Weapon Systems Market Segmentation & Impact Analysis

Chapter 5. Global Laser Weapon Systems Market, Technology Insights & Trends

Chapter 6. Global Laser Weapon Systems Market, Power Insights & Trends

Chapter 7. Global Laser Weapon Systems Market, Platform Insights & Trends

Chapter 8. Global Laser Weapon Systems Market, Range Insights & Trends

Chapter 9. Global Laser Weapon Systems Market, Application Insights & Trends

Chapter 10. Global Laser Weapon Systems Market Regional Outlook

Chapter 11. Competitive Landscape

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