The laser weapon systems market size is projected to reach US$ 9.18 billion by 2031 from US$ 2.03 billion in 2023. The market is expected to register a CAGR of 20.8% during 2023–2031. Increase in demand of high-energy laser weapon system is likely to remain a key trend in the market.
Lockheed Martin Corporation, L3Harris Technologies Inc., Leonardo DRS, Northrop Grumman Corporation, and Rheinmetall AG are among the key market players operating in the global laser weapon systems market. The key players are listed by considering factors such as overall revenue, current laser weapon systems product portfolio, geographical reach, market initiatives, investment in technology upgrades, partnerships, and other market-related activities.
The laser weapon system market ecosystem comprises of following stakeholders- component manufacturers, laser weapon system manufacturers, and defense forces. The laser weapon system manufacturing market players procure component such as sensors, tracking mount, beam detector, and other spare parts from various suppliers across the globe. These suppliers continuously optimize their production lines and lead times in order to enhance respective supply chain. The laser weapon system manufacturers are witnessing significant demand for their products owing to the rising threat of UAVs over the past few years. The laser weapon system supplier work in sync with the procurer of laser weapon system in order to understand the demand of the procurer or end users. This helps the laser weapon system manufacturers to suitably meet the needs of respective customers. The defense forces are the end users, which continue to seek high-energy, high-precise, and long-range laser weapon systems for their defense fleet. Several defense forces work closely with the laser weapon system manufactures such as Raytheon Technologies, Lockheed Martin Corporation, and others in order to incorporate the best possible system in defense fleet. This factor also propels the military laser weapon system market.
Improvements in laser techniques have resulted in high-energy laser weapons with longer range. Laser weapon-developing companies such as Raytheon Technologies, Lockheed Martin Corporation, and Dynetics Inc. are introducing new developments in laser technologies. For instance, Lockheed Martin is advancing its efforts to deliver High-Energy Laser and Integrated Optical-Dazzler with Surveillance (HELIOS) for the US Navy by combining long-range ISR, laser weapon, and counter-UAS capabilities to enhance situational awareness and layered defense. Similarly, Raytheon Technologies has awarded US$ 15.5 million contracts to develop an upgraded buggy-mounted laser weapon system. The weapon can destroy drones or small unmanned aerial systems within 3 km with a game-style controller and a laptop.
Laser weapon systems are gaining major demand from countries holding high military power globally, such as the US, Russia, China, and India. Increasing development in weapons and rising number of drones in military operations are creating demand for advanced defensive weapons. A large number of drones and advanced weapons can create severe damage owing to which the demand for high-precise laser weapon systems is rising. Increasing investment by various nations and vital R&D activities performed by the market players create new opportunities for the growth of the market. For instance, the US's self-protect high-energy laser demonstrator (SHiELD) initiative opens a new application area for laser weapon systems. A laser weapon system for fighter jets is being developed by Lockheed Martin, bringing a new level of advancement for warfighters. The laser weapons in fighter jets are enlacing the ability to shoot down missiles in flight and get an advantage over adversaries.
Key segments that contributed to the derivation of the laser weapon systems market analysis are type and application.
The geographic scope of the laser weapon systems market report is mainly divided into four regions: North America, Europe, Asia Pacific, and Rest of the World.
North America has dominated the market in 2023 followed by Europe and Asia Pacific regions. Further, Asia Pacific is also likely to witness highest CAGR in the coming years. The US accounted for major share in the North American laser weapon systems market. Companies operating in the US region are adhered to adoption of new technologies to improve the level of power, accuracy, and design. Increasing number of weapons in the US military services is major supporting factor for the market growth as companies are developing advanced laser weapon systems to prevent the aerial attack. Further, rising improvement in navy weapon system with enhanced penetration of laser weapon system is key factor augmenting market growth. According to the latest data from the Global Firepower, US is leading country in the military strength with high manpower and arsenals. The US navy is continuously deploying and upgrading the laser weapon system to enhance protection against aerial attacks.
The regional trends and factors influencing the Laser Weapon Systems Market throughout the forecast period have been thoroughly explained by the analysts at Insight Partners. This section also discusses Laser Weapon Systems Market segments and geography across North America, Europe, Asia Pacific, Middle East and Africa, and South and Central America.
| Report Attribute | Details |
|---|---|
| Market size in 2023 | US$ 2.03 Billion |
| Market Size by 2031 | US$ 9.18 Billion |
| Global CAGR (2023 - 2031) | 20.8% |
| Historical Data | 2021-2022 |
| Forecast period | 2024-2031 |
| Segments Covered |
By Type
|
| Regions and Countries Covered | North America
|
| Market leaders and key company profiles |
The Laser Weapon Systems Market market is growing rapidly, driven by increasing end-user demand due to factors such as evolving consumer preferences, technological advancements, and greater awareness of the product's benefits. As demand rises, businesses are expanding their offerings, innovating to meet consumer needs, and capitalizing on emerging trends, which further fuels market growth.
Market players density refers to the distribution of firms or companies operating within a particular market or industry. It indicates how many competitors (market players) are present in a given market space relative to its size or total market value.
Major Companies operating in the Laser Weapon Systems Market are:
Disclaimer: The companies listed above are not ranked in any particular order.
The laser weapon systems market is evaluated by gathering qualitative and quantitative data post primary and secondary research, which includes important corporate publications, association data, and databases. A few of the developments in the laser weapon systems market are listed below:
The “Laser Weapon Systems Market Size and Forecast (2021–2031)” report provides a detailed analysis of the market covering below areas:
North America region dominated the laser weapon systems market in 2023.
Technological developments in laser weapon system and rising procurement of directed energy weapons are some of the factors driving the growth for laser weapon systems market.
Increase in demand of high-energy laser weapon system is one of the major trends of the market.
Applied Technology Associates, The Boeing Co, Elbit Systems Ltd, General Atomics, L3Harris Technologies Inc, Lockheed Martin Corporation, MBDA, Northrop Grumman Corporation, Raytheon Technologies Corporation, and Rheinmetall AG are some of the key players profiled under the report.
The estimated value of the laser weapon systems market by 2031 would be around US$ 9.18 billion.
The laser weapon systems market is likely to register of 20.8% during 2023-2031.