The Laser Weapon Systems by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
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According to The Business Research Company’s Laser Weapon Systems, The laser weapon systems market size has grown rapidly in recent years. It will grow from $6.24 billion in 2023 to $7.09 billion in 2024 at a compound annual growth rate (CAGR) of 13.5%. The growth in the historic period can be attributed to growing development in military drones, rise in aerial attacks, government initiatives and increasing investment in military and defense.
The laser weapon systems market size is expected to see rapid growth in the next few years. It will grow to $11.58 billion in 2028 at a compound annual growth rate (CAGR) of 13.1%. The growth in the forecast period can be attributed to the growing defense budgets, growth in artificial intelligence, increased research and development activities and russia ukraine war. Major trends in the forecast period include investing in the integration of artificial intelligence, integrating helios to provide higher energy capability, producing new laser weapons, integrating high-energy lasers and developing of a laser weapon system demonstrator.
Growing defense budgets are a major driver of the laser weapon systems market in the forecast period. With a rise in defense budgets, governments will have the option to explore new technology and utilize innovative products in maintaining and improving the security of their country. For instance, in 2021, Germany increased its defense spending to more than 2 percent of its economic output. The major aim of the increased spending was to protect the freedom and democracy of the country. Moreover, the government has decided to supply 100 billion euros ($1.09.07 billion) for military investments from its 2022 budget.
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The laser weapon systems market covered in this report is segmented –
1) By Product: Laser Designator, Lidar, 3d Laser Scanning, Laser Range Finder, Ring Laser Gyro, Laser Altimeter
2) By Technology: Solid State Laser, Chemical Laser, Free Electron Laser, Chemical Oxygen Iodine Laser, Tactical High Energy Laser, Others
3) By Application: Air Based, Ground Based, Sea Based
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.
The laser weapon systems market report table of contents includes:
1. Executive Summary
2. Laser Weapon Systems Market Characteristics
3. Laser Weapon Systems Market Trends And Strategies
4. Laser Weapon Systems Market – Macro Economic Scenario
5. Global Laser Weapon Systems Market Size and Growth
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31. Laser Weapon Systems Market Other Major And Innovative Companies
32. Global Laser Weapon Systems Market Competitive Benchmarking
33. Global Laser Weapon Systems Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Laser Weapon Systems Market
35. Laser Weapon Systems Market Future Outlook and Potential Analysis
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