Military laser systems: Key market research findings
- Strategic alliances and M&As drive market growth
- SSL segment is the dominant shareholder in the market
- Key vendors—BAE Systems, Lockheed Martin, Northrop Grumman, Raytheon, and Thales
The market research analysts at Technavio predict the global military laser systems market to grow at a CAGR of more than 8% by 2020. The increase in large-scale acquisitions is the primary driver for the growth in the market. Prime defense contractors are emphasizing on acquiring laser companies to strengthen new developments. Such mergers and acquisitions (M&As) are opening up opportunities for technological advancements. The Americas dominated the global military laser systems market in 2015 by occupying 41% of the overall market share. The increased funding and investments in developing laser technology and systems are expected to propel growth in the military laser systems market in the Americas during the forecast period.
The new market research report from Technavio presents a breakdown and analysis of the military laser systems segments by technology.
“The emergence of high energy laser (HEL) is an ongoing trend in the market. HEL weapons improve military capabilities to counter surface and air threats such as small boats and unmanned aerial vehicles (UAVs) with high precision. HEL delivers high power laser to the target at a speed of light and is significantly faster than other missiles. Besides, HEL weapons have a comparatively lower shot-to-short cost,” says Abhay Kumar Singh, Lead Analyst, Aerospace & Defense, Technavio Research.
During 2015, the solid-state laser (SSL) segment accounted for around 32% of the market share to dominate the global military laser systems market. These weapons provide vital strategic military advantages that are crucial for defensive, operational, and tactical levels of warfare. They offer multi-platform and multi-mission capabilities. These lasers can ultra-precision strikes from ground, sea, or air-based platforms and hit enemy targets with minimal risk of collateral damage when incorporated with other technologies.
The key vendors in the market include BAE Systems, Lockheed Martin, Northrop Grumman, Raytheon, and Thales. This market is highly competitive where the vendors compete based on cost, product quality, reliability, and aftermarket service. Vendors provide cost-effective and high-quality laser systems with latest technology and materials to gain a competitive edge over their peers. The market is expected to witness a rise in mergers and acquisitions, coupled with increased collaboration with alliance partners across the globe.
A more detailed analysis is available in the Technavio report, Global Military Laser Systems Market 2016-2020.
We can customize reports by other regions and specific segments upon request.
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