Partnership between Germany GmbH and MBDA Rheinmetall Waffe Munition GmbH
In 2021, A collaboration made up of MBDA Rheinmetall Waffe Munition GmbH, and Deutschland GmbH was given a contract by Germany's federal agency for information technology and in-service support (BAAINBw) to integrate manufacture, and support testing of laser weapons for the Bundeswehr.
Increased Research and Development to Support the Growth of the Industry
It is anticipated that technological advancements and higher spending in R&D activities will support market expansion during the forecast period. These military lasers are precise for use at a distance. These technologies can also be utilized for laser communication, in addition. In this aspect, lasers provide brief pulses with minimal energy consumption. Laser systems are employed in military applications to shield personnel from various threats, including missiles, drones, and artillery rounds. Military lasers are also undetectable by people, don't make tiny sonic booms, and are noiseless. As a result, the rising demand for military laser systems is expected to support market expansion in the next years.
Military Laser System Market Expansion Is Constrained By High Costs And Strict Regulations
The main market limitation is the necessity to produce high power systems while taking costs into account. The cost of research and development is considerable, which may reduce the market value of military laser systems. The government's strict regulations are anticipated to challenge the market. In addition, the less developed areas are now aware of the laser systems, which may pose a problem for the market in the future. The leading companies are attempting to advance market trends for military laser systems by overcoming these obstacles.
Major Players Develop Acquisition Plans to Boost Brand Image
The leading businesses in the military laser systems market plan acquisitions to improve their brand recognition globally. For instance, in January 2021, a High Energy Laser with an integrated optical-Dazzler had been delivered to the US Navy, according to American aerospace manufacturer Lockheed Martin.
- In 2021: A team from Boeing and General Atomic Systems electromagnetic system has been given a contract by the US Army to create a solid-state 300 kilowatt laser weapon. Boeing's Beam Director, GAEMS distributed gain laser technology, and Prishi, an acquisition aiming and tracking software, are all included in the distributed gain high energy laser weapon system.
List of Key Players Profiled in the Report
- BAE Systems PLC
- Coherent Inc.
- Elbit Systems Ltd.
- Lockheed Martin Corporation
- MKS Instruments Inc.
- Northrop Grumman Corporation
- Rafael Advanced Defense Systems Limited
- Raytheon Technologies Corporation
- Thales Group
- The Boeing Company
Further Report Findings
- The market in North America is expected to gain a huge portion of the global military laser systems market share in the coming years. The advancement of technology and increasing military spending are responsible for the development of this area.
- The US and Canada are predicted to have the largest market shares.
- In the Asia Pacific, the growth in this region is primarily driven by the presence of significant key players and developing countries. It is anticipated that many laser-based technologies will be installed in nations like China and India.
|Market Size in 2022||USD 4.9 Billion|
|Market Forecast in 2030||USD 8.2 Billion|
|Compound Annual Growth Rate||8.90%|
|Unit||Revenue (USD Million) and Volume (Kilo Tons)|
|Segmentation||By Product Type, By Application, By Technology and By Geography|
|By Product Type||