Military Laser Systems Market Expected to Reach USD 7.5 Billion by 2028

Chicago, July 1, 2024 (GLOBE NEWSWIRE) — The Military laser systems market is estimated to reach USD 5.0 ​​billion in 2023 and is expected to reach USD 7.5 billion by 2028, at a CAGR of 8.7% during the forecast period.

The driving factor of the military laser systems market is the significant investments made by governments in modern weapon systems. Laser technology is widely used in military communication systems, directed energy weapon systems, and target designation and ranging systems, among others, to improve the success rate of military missions by indicating the location of the target, protecting army personnel, and thwarting and destroying the target.

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Top Key Players Included in the Military Laser Systems Market:

• Northrop Grumman Corporation (USA),

• Raytheon Technologies Corporation (USA),

• Lockheed Martin Corporation (United States),

• Thales Group (France), and

• BAE System plc (UK).

Military Laser Systems Market Segmentation:

Based on platform, the naval segment is expected to grow at the highest CAGR during the forecast period.

The platforms segment has been segmented into land, airborne, naval and space. The growth of the naval segment can be attributed to the increasing development of ship-borne weapon systems to enhance maritime border security. For example, in August 2020, Lockheed Martin Corporation (United States) delivered Helios, an advanced 60+ kW class high-energy laser weapon solution, to the United States Navy to enhance its naval capabilities.

Based on applications, the weapons segment is expected to grow at the highest CAGR during the forecast period.

The weapons segment is expected to grow at the highest CAGR in the military laser systems market. The growth of this segment is attributed to the growing disagreements with neighboring countries. This factor has led to an increase in the demand for modern weapons.

The weapons segment has been categorized into lethal and non-lethal weapons. Lethal weapon has the capability to kill or destroy land, sea and air threats.

Based on technology, fiber laser technology is expected to grow at the highest CAGR during the forecast period.

The technology segment has been segmented into semiconductor laser, fiber laser, semiconductor laser, gas laser, liquid laser and free electron laser. Among these, fiber laser is witnessing high growth during the forecast period. Fiber lasers are very compact, robust, efficient, low-maintenance, reliable and durable high-energy lasers. It is widely used in directed energy weapons. Applications of fiber lasers typically include tactical energy and power radiation. Electrical fiber lasers can be spectrally combined to produce a high-power, military-grade beam, as demonstrated by Lockheed Martin Corporation (USA).

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By region, North America accounted for the largest share during the reporting year.

The North America region dominated the military laser systems market in 2020. The significant share of the North America military laser systems market is due to the growing concern over aerial threats and increasing defense spending on activities research and development related to laser weapons. The North American military laser systems market includes the United States and Canada. The United States contributed the largest share to the North American military laser systems market in 2022 due to increased production, testing and demonstration of high-energy laser integrated military systems above 300 kW in the country.

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