North America Laser Weapon Systems Market is expected to reach US$ 2,645.09 million by 2028

Fiber Laser Segment to Dominate North America Laser Weapon Systems Market during 2020–2028

According to The Insight Partners market research study on “North America Laser Weapon Systems Market to 2028 – COVID-19 Impact and Regional Analysis and Forecast by Type and Application” is expected to reach US$ 2,645.09 million by 2028 from US$ 769.84 million in 2021. The market is estimated to grow at a CAGR of 19.3 % from 2021 to 2028. The report provides trends prevailing in the North America laser weapon systems market along with the drivers and restraints pertaining to the market growth. Growing investment in weapon systems and technological advancement in laser weapon system are the major factor driving the growth of the North America laser weapon systems market. However, less adoption of laser weapon systems hinders the growth of North America laser weapon systems market.    

In case of COVID-19, North America is highly affected specially the US. The emergence of COVID-19 virus across the North America led to lockdown scenarios has pushed led the industry experts to analyze that the defense equipment manufacturing industry would face 4 weeks to 12 weeks of lag in military electronic part supply chain. This disruption in supply chain has damaged the defense equipment manufacturing in 2020 across North America region. The recovery period of impact of COVID-19 in defense industry is foreseen to be quicker as compared to various other industries. The economic growth has lowered, which delayed the ongoing projects of military and defense up-gradation. The US is one of the major exporters of arms products, but due to the disrupted supply chain and lower economic conditions of importing countries, export revenue is reduced. Enhancing trade relations to support international supply post lockdown helped the market to regain its position. The limiting strength of the workforce due to the physical distancing model hampered the production activities in-country. Also, the disruption in defense electronics supply chain caused damage to the US laser weapon systems market.

The North America laser weapon systems market is segmented into type, application, and country. Based on type, the market is further segmented into chemical laser, solid-state laser, free electron laser, and fiber laser. The fiber laser segment dominated the market in 2020 and solid-state laser segment is expected to be fastest growing during forecast period. Based on application, the market is segmented into air-based, ground-based, and sea-based. The ground-based segment dominated the market in 2020 and is also expected to be fastest growing during forecast period.

Applied Technology Associates; Boeing; Elbit Systems Ltd.; General Atomics; L3Harris Technologies, Inc.; Lockheed Martin Corporation; MBDA; Northrop Grumman Corporation; Raytheon Technologies Corporation; and Rheinmetall AG are among the leading companies in the North America laser weapon systems market. The companies are focused on adopting organic growth strategies such as product launches and expansions to sustain their position in the dynamic market. For instance, in 2020, General Atomics and Boeing entered into a collaboration develop a prototype 300-kW missile defense laser for the Pentagon and a 250-kW airborne version with Boeing.

The report segments the North America Laser Weapon Systems Market as follows:

North America Laser Weapon Systems Market – By Type

• Chemical Laser
• Solid-State Laser
• Free Electron Laser
• Fiber Laser

North America Laser Weapon Systems Market – By Application

• Air-based
• Ground-based
• Sea-based

North America Laser Weapon Systems Market – By Country

• US
• Canada     
• Mexico