Global military laser market to grow nearly 10 percent by 2020
NewsJune 30, 2016
ELMHURST, Illinois. The global military laser systems market is expected to grow at a compound annual growth rate (CAGR) of about 8 percent by 2020 due to rising demand and evolving warfare strategies worldwide, say analysts at Technavio in Elmhurst, Illinois.
The leading suppliers in the market include BAE Systems, Lockheed Martin, Northrop Grumman, Raytheon, and Thales according to the Technavio report titled, "Global Military Laser Systems Market 2016-2020." Other prominent vendors include American Laser Enterprises, LLC, Aculight, Coherent, Inc., Frankfurt Laser Company, and Quantel.
Technavio analysts say the defense sector will dominate the military laser systems market by 2020 and is expected to occupy 64 percent of the total market share. The segment will witness the fastest growth rate due to the increasing applications and technological requirements of lethal weapons by military forces.
Last year the Americas dominated this market and accounted for about 41 percent of the total market share, according to the analysts. Much of this region’s growth comes from the increasing U.S. military research programs on laser weapons. The laser systems are witnessing massive investments by the U.S. government, which will positively influence the market in the Americas over the next four years.
Laser types
Lithium-powered lasers are be used to issue non-lethal warnings while weapons with precise aim and unlimited ammunition such as the high-energy laser (HEL) are being used to counter incoming drones or missiles, according to Technavio analysts. For example, Lockheed Martin engineers developed a prototype laser weapon, Area-Defense Anti-Munitions (ADAM), that can combat close-in improvised rocket and small boat threats at a range of more than 3.2 miles and destroy targets within a range of 1.24 miles.
Within the market a growing requirement for highly secured, reliable underwater communications has resulted in the development of blue-green lasers, which can transmit data from one point to another without using fiber optic cables. These lasers can easily penetrate through water and provide high-speed communication, while offering flexibility and providing encoder and decoder options for secure communication links.
The report segments market by application (defense and homeland security), by technology (solid-state laser, fiber laser, chemical laser, semiconductor laser, and CO2 laser), and by geography (the Americas, Asia-Pacific (APAC), and Europe, Middle East, and Africa (EMEA)).
For more information, visit http://www.technavio.com/report/global-defense-military-laser-systems-market.
