Laser Weapon Systems Market Dynamics and Analysis by 2031
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.
Laser Weapon Systems Market Analysis
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.
Laser Weapon Systems Market Overview
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.
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Laser Weapon Systems Market: Strategic Insights
Market Size Value in US$ 1,342.17 Million in 2020 Market Size Value by US$ 5,123.18 Million by 2028 Growth rate CAGR of 18.8% from 2021-2028 Forecast Period 2021-2028 Base Year 2021
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Laser Weapon Systems Market: Strategic Insights
| Market Size Value in | US$ 1,342.17 Million in 2020 |
| Market Size Value by | US$ 5,123.18 Million by 2028 |
| Growth rate | CAGR of 18.8% from 2021-2028 |
| Forecast Period | 2021-2028 |
| Base Year | 2021 |
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Laser Weapon Systems Market Drivers and Opportunities
Technological Developments in Laser Weapon System
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.
Development of Laser Weapon System for Fighter Aircraft
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.
Laser Weapon Systems Market Report Segmentation Analysis
Key segments that contributed to the derivation of the laser weapon systems market analysis are type and application.
- Based on type, the laser weapon systems market is segmented into chemical laser, solid-state laser, free electron laser, and fiber laser. The fiber laser segment held a larger market share in 2023.
- Based on application, the laser weapon systems market is segmented into air-based, ground-based, and sea-based. The ground-based segment held a larger market share in 2023.
Laser Weapon Systems Market Share Analysis by Geography
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.
Laser Weapon Systems Market Report Scope
Laser Weapon Systems Market News and Recent Developments
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 Palletized High Energy Laser (P-HEL) system, developed by BlueHalo in support of the U.S. Army Rapid Capabilities and Critical Technologies Office (RCCTO), has a proven track record of successfully engaging and eliminating small unmanned aerial system (sUAS) threats to forces and critical infrastructure–a rapidly growing concern to U.S. battlefield dominance. BlueHalo was awarded a four-year logistics support contract to provide preventative and corrective maintenance along with operator and maintenance team training for BlueHalo’s P-HEL system. This newly awarded contract establishes BlueHalo as the full-cycle lead system integrator from prototype development to frontline operations for the P-HEL system. (Source: BlueHalo, Press Release, Apr 2024)
- Raytheon UK is set to receive its first high-energy laser weapon system to be tested and integrated in the United Kingdom, marking a significant advancement in the understanding of how such systems can be fielded. (Source: Raytheon Technologies Corpoation, Press Release, Sep 2023)
Laser Weapon Systems Market Report Coverage and Deliverables
The “Laser Weapon Systems Market Size and Forecast (2021–2031)” report provides a detailed analysis of the market covering below areas:
- Laser weapon systems market size and forecast at global, regional, and country levels for all the key market segments covered under the scope
- Laser weapon systems market trends as well as market dynamics such as drivers, restraints, and key opportunities
- Detailed porter’s five forces analysis
- Laser weapon systems market analysis covering key market trends, global and regional framework, major players, regulations, and recent market developments
- Industry landscape and competition analysis covering market concentration, heat map analysis, prominent players, and recent developments for the laser weapon systems market
- Detailed company profiles
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
Type and Application
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
Canada, China, France, Germany, India, Israel, Italy, Japan, Mexico, Russian Federation, South Korea, Turkey, United Kingdom, United States
Frequently Asked Questions
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.
The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.
- Data Collection and Secondary Research:
As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.
Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.
- Primary Research:
The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.
For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.
A typical research interview fulfils the following functions:
- Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
- Validates and strengthens in-house secondary research findings
- Develops the analysis team’s expertise and market understanding
Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:
- Industry participants: VPs, business development managers, market intelligence managers and national sales managers
- Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.
Below is the breakup of our primary respondents by company, designation, and region:
Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.
- 3.1 Macro-Economic Factor Analysis:
We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
- 3.2 Country Level Data:
Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.
- 3.3 Company Profile:
The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
- 3.4 Developing Base Number:
Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.
- Data Triangulation and Final Review:
The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.
We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.
We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.
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