According to our latest market study on “Laser Weapon Systems Market Forecast to 2027 – COVID-19 Impact and Global Analysis – by Type (Chemical Laser, Solid-State Laser, Free Electron Laser, and Fiber Laser) and Application (Air-based, Ground-based, and Sea-based),” the 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 report highlights the key factors driving the market growth and prominent players with their developments in the market.

The global laser weapon systems market has been analyzed based on historical, current, and future trends in the countries across the world. Laser weapon systems provide highest strength to defense against aerial attacks. Thus, it has major adoption in military weapon systems. Increasing investments in the military and defense sector in developed as well as developing nations are propelling the growth of the laser weapon systems market. Also, there is an immense growth in the laser weapon technology. Hence, in coming years, each country is expected to witness the launch of more enhanced laser weapon systems offering high quality precision and power for high-energy.

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 As developing nations are identifying the potential of laser weapon systems, the players operating in the laser weapon systems market are focused to form weapon development agreements with these nations. The COVID-19 outbreak caused various disruptions in the market such as slowdown in production and delays in projects of some countries due to unstable economy. Besides, the growing demand for high-energy laser weapon system from developing countries such as India and China is compelling the laser weapon systems manufacturers to improve offerings a per the needs. Companies operating in the market adopt various marketing strategies, such as new product developments, partnerships, and acquisitions, to optimize their existing offerings and expand their portfolio to target a significant number of customers.

For instance, in March 2021, SIGN4L, a UAE-based company offering electronic warfare and intelligence solution, signed a memorandum of understanding (MoU) with Cilas and MBDA to explore the field of high-energy laser weapons systems. Under this MoU, the three entities are developing advanced high-energy laser weapons systems for counter-unmanned aerial vehicle (C-UAV) strategy. Thus, all these factors are driving the growth of the global laser weapon systems market.

Surge in Demand from Emerging Countries to Provide Numerous Business Opportunities for Market Players

The aircraft sector in North America, Europe, and Asia pacific is growing at the fastest rate with an advent of supporting high-energy and more precise technologies. China, India, and Russia are among the countries that are strongly adopting the laser weapon systems. Further, rising strain among Asian countries is strongly supporting the growth of the laser weapon systems market. For instance, both India and China are upgrading existing weapons and purchasing new ones from European countries amid rising issue at Galvan Valley for the line of control positioning. Other Asian countries are also strengthening their military weapons. For instance, South Korea is upgrading its aircrafts and ground armory near borders of China and Russia, as invasion of aircrafts in non-flying zone from the both countries is increased. 

The report segments the global laser weapon systems market as follows:

By Type

1.    Chemical Laser

2.    Solid-State Laser

3.    Free Electron Laser

4.    Fiber Laser

By Application

1.    Air-based

2.    Ground-based

3.    Sea-based

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