The laser weapon systems market was valued at US$ 1,342.17 million in 2020 and is projected to reach US$ 5,123.18 million by 2028; it is expected to grow at a CAGR of 18.8% from 2021 to 2028.
The military and defense sectors are heavily investing in advanced technologies to strengthen their capabilities with advanced war weapons. Companies in countries such as Russia, the US, and France are developing advanced laser weapons for the global market. Technological advancement in the laser weapons enhanced its range such as high-energy fiber and liquid lasers are driving the growth of the laser weapon systems market. Rising partnerships and agreements between major countries such as the US–Israel, the UK–the US, and France–the UAE regarding advanced military weapons are supporting the market growth. Moreover, developing nations such as India, China, and Indonesia are strengthening their military arsenal due to rising border clash with neighboring countries. The laser weapon systems play crucial role in defending the aerial attacks. Growing development in military drones increased the threats of aerial attacks, which highlighted the importance of using the laser weapons system to destroy these drones within seconds. Further, increasing investment in military and defense by leading countries such as China, India, the US, Russia, and the UK is augmenting the market growth. For instance, in 2019, the US Army awarded a contract of US$ 130 million to Dynetics Inc. along with its partners Lockheed Martin and Rolls-Royce to develop an advanced weapon system. Under the agreement, Dynetics Inc. has developed a 100-kW-class laser weapon system named as High Energy Laser Tactical Vehicle Demonstrator (HEL TVD).
Impact of COVID-19 Pandemic on Laser Weapon Systems Market
The COVID-19 pandemic has hampered the economic growth of almost every country. The military industry has witnessed low impact of this economic downturn. Moreover, the damaged economic growth of countries has led to several months delay in the laser weapon development. However, post second half of 2020, the market has regained its position. The military and defense industry continued their operations with certain social distancing measure but at slower speed than normal targets. The disrupted supply chain of military electronics and components for a certain period hampered the production targets owing to lower staff availability on floor and restrictions such as physical distancing. Whereas the rising importance of laser weapons supported the market growth even in the COVID-19 pandemic period.
Lucrative Regions for Laser Weapon Systems Providers
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Laser Weapon Systems Market Insights
Rising Adoption from Developing Nations Fuels Growth of Laser Weapon Systems Market
Although strengthening defense weapons incurs a huge economical cost, it is crucial for each nation to improve its defense systems for better protection against uncertain events such as war and terrorism. Hence, each country is concerned and eager toward the deployment of advanced laser weapon systems in defense forces such as air force, navy, and ground-weapons. Laser weapon systems play major role in instant aerial attack, war supporting strategies, and others; therefore, each country is focusing toward its development. Significant growth in the economy of developing nations is supporting the development of military and defense weapons. Additionally, rising conflict between country boarders such as China and India is creating opportunity for the market growth. For instance, in December 2020, according to the South Korean Defense Ministry, the country's defense system scrambled 19 fighter jets of Russian and Chinese military forces due to intrusion into South Korea's air defense identification zone. Such increasing concerns of developing nations toward the deployment of advanced defense systems are creating lucrative opportunities for the market players to offer advanced solution at the affordable cost.
Type-Based Market Insights
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 the largest share in 2020. The same segment is also expected to consistently hold the significant share during the forecast period owing to the increasing demand for high-power and high-energy weapon.
Laser weapon systems Market, by Type – 2020 and 2028
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Application-Based Market Insights
Based on application, the laser weapon systems market is segmented into air-based, ground-based, and sea-based. In 2020, the ground-based segment held the largest market share and is expected to hold the significant share during 2021–2028.
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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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The players operating in the laser weapon systems market adopt strategies such as mergers, acquisitions, and market initiatives to maintain their positions in the market. A few developments by key players are listed below:
In September 2020, Lockheed Martin displayed next-gen laser weapon systems for airborne platforms, and the company anticipates operationalizing the systems in next five years.
In July 2019, the US Navy demonstrated a solid-state laser weapon mounted on the amphibious transport dock ship USS Portland. The Laser Weapon System Demonstrator (LWSD) was developed by Northrop Grumman and integrated with full system and ship integration and testing led by Naval Surface Warfare Center Dahlgren and Port Hueneme.
By Type
- Chemical Laser
- Solid-State Laser
- Free Electron Laser
- Fiber Laser
By Application
- Air-based
- Ground-based
- Sea-based
By Geography
North America
- US
- Canada
- Mexico
Europe
- France
- Germany
- Italy
- UK
- Russia
- Rest of Europe
Asia Pacific (APAC)
- China
- India
- South Korea
- Japan
- Rest of APAC
Rest of the World (RoW)
- Turkey
- Israel
- Rest of RoW
Company Profiles
- Applied Technology Associates
- Boeing
- Elbit Systems Ltd.
- General Atomics.
- L3Harris Technologies, Inc.
- LOCKHEED MARTIN CORPORATION
- MBDA
- Northrop Grumman Corporation
- Raytheon Technologies Corporation
- Rheinmetall AG
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
The List of Companies - Laser Weapon Systems Market
- Elbit Systems Ltd.
- L3Harris Technologies, Inc.
- LOCKHEED MARTIN CORPORATION
- MBDA
- Northrop Grumman Corporation
- Raytheon Technologies Corporation
- Rheinmetall AG
- Boeing
- Applied Technology Associates
- General Atomics.
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