How Has the Laser Weapon Systems Market Size Evolved in Recent Years?
The laser weapon systems market has seen considerable growth due to a variety of factors.
• There has been a robust growth in the market size of laser weapon systems in the past few years. The market, which is poised to expand from $6.14 billion in 2024 to $6.68 billion in 2025, promises a compound annual growth rate (CAGR) of 8.7%.
The surge during the historical period is in part due to factors such as the ongoing advancement in military drones, an uptick in aerial assaults, governmental programs, as well as rising investments in the defense and military sector.
What are the Market Size and Expected Growth Rates for the Laser Weapon Systems Market?
The laser weapon systems market is expected to maintain its strong growth trajectory in upcoming years.
• We anticipate a robust expansion in the laser weapon systems market in the upcoming years, with its value projected to reach $9.37 billion by 2029, escalating at a compound annual growth rate (CAGR) of 8.8%.
The uptick for the forecast period can be associated with factors like the escalating defense budgets, advancements in artificial intelligence, boosted research and development initiatives, and the ongoing Russia-Ukraine conflict. Noteworthy trends during this forecast span comprise of investments in the incorporation of artificial intelligence, integration of Helios for enhanced energy capabilities, creation of innovative laser weapons, incorporation of high-energy lasers, and the construction of a laser weapon system demonstrator.
Which Factors Are Boosting Growth In The Laser Weapon Systems Market?
The expansion of defense budgets is a significant catalyst propelling the growth of the laser weapon systems market during the forecast period. As these budgets grow, governments gain the potential to investigate new technology and employ avant-garde products for the enhancement and preservation of their national security. For example, in March 2023, the United States Department of Defense reported that the budget request for Fiscal Year 2024 stands at $842 billion. This figure represents a $26 billion escalation compared to Fiscal Year 2023 and a rise of $100 billion from Fiscal Year 2022's budget. Consequently, the surge in defense budgets is fueling the development of the laser weapon systems market.
How Is The Globa Laser Weapon Systems Market Divided Into Key Segments?
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
Subsegments:
1) By Laser Designator: Ground-Based Laser Designators, Airborne Laser Designators
2) By Lidar: Airborne Lidar Systems, Ground-Based Lidar Systems
3) By 3D Laser Scanning: Static 3D Laser Scanners, Mobile 3D Laser Scanners
4) By Laser Range Finder: Handheld Laser Range Finders, Vehicle-Mounted Laser Range Finders
5) By Ring Laser Gyro: Fiber-Optic Ring Laser Gyros, Solid-State Ring Laser Gyros
6) By Laser Altimeter: Ground-Based Laser Altimeters, Airborne Laser Altimeters
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What Trends Are Reshaping The Laser Weapon Systems Market?
The escalation of research and development endeavors in the field of laser weapons is contributing significantly to the development of the laser weapon systems market. The focus of such research and development is the creation of systems that utilize lasers for the accurate targeting and obliteration of threats like drones and missiles. Innovations and advancements in laser technology, improved targeting accuracy, and heightened energy efficiency are the fruits of R&D efforts in laser weapon systems. For example, in July 2024, production commenced at Hanwha Aerospace, a manufacturing corporation from South Korea, on their new anti-aircraft laser weapon. The Block-I anti-aircraft laser weapon employs fiber-optic laser technology for precision targeting of small UAVs, operates soundlessly without requiring ammunition, and costs approximately USD1.45 per shot. Production kicked off in July 2024, with all deliveries set to be completed by 2026.
Who Are the Key Players in the Laser Weapon Systems Market?
Major companies operating in the laser weapon systems market include:
• Raytheon Technologies Corporation
• The Boeing Company
• Lockheed Martin Corporation
• Leidos Holdings Inc.
• Elbit Systems Ltd.
• General Atomics
• Northrop Grumman Corporation
• BAE Systems
• BlueHalo
• Saab
• Jilin Ruikd Medical Photoelectric Technology Co. Ltd
• Xi'an Lonn M&E Equipment Co. Ltd
• Guangzhou Futai Beauty Equipment Co. Ltd
• Leonardo
• Thales Group
• CILAS
• MBDA
• Kalashnikov Group
• Almaz-Antey
• United Aircraft Corporation
• Tactical Missiles Corporation
• Uralvagonzavod
• Applied Technology Associates
• Alma Lasers Ltd
• Laser Ammo
• Sarine Technologies Ltd
• Meprolight
• STI Laser Industries
• NeoLaser
• Zmed Laser
• ARIEL Photonics Assembly
• LaserOp
• LASER FZCO
• Matrix Laser
• Trotec laser
• Digi Matrix Technologies.
What are the Regional Insights into the Laser Weapon Systems Market?
North America was the largest region in the laser weapon systems market in 2024. North America is expected to be the fastest-growing region in the forecast period. The regions covered in the laser weapon systems market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
