Market Drivers and Top Barriers:
Weapons manufacturers like Northrop Grumman, Lockheed Martin and Boeing are constantly testing their lasers to gain the upper hand over their rivals. Numerous programs by the defense sector in various nations are stimulating market growth. Moreover, advancement of theoretical models and replacement of legacy equipment come in the form of growth opportunities for the market.
Military Airborne Laser Market Top Companies:
Top players shaping the worldwide military airborne laser market include BAE Systems PLC (U.K.), Thales Group (France), Coherent Inc. (U.S.), Raytheon Company (U.S.), American Laser Enterprises LLC (U.S.), Saab AB (Sweden), Lockheed Martin Corporation (U.S.), Northrop Frankfurt Laser Company (Germany), Grumman Corporation (U.S.), Newport Corporation (U.S.), among others.
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Surge in military expenditure by nations to protect their borders and up-gradation of weapon systems in aircraft work in favor of the market. Use of military airborne lasers to destroy and prevent incoming aerial attacks stands as one of the most growth-inducing factors in market growth. These lasers are state of the art weapons that are instrumental in future peacekeeping missions. These are placed on military aircraft along with other advanced machines. Fundamental uses of these lasers include blinding troops, marking targets, and guiding munitions.
Increasing requirement for highly precise weapons bolsters demand for military airborne laser systems market. Another critical factor boosting market growth is the accelerated use of high-speed laser for military applications. To illustrate, Lockheed Martin recently entered a contract with the U.S. Airforce for the development and production of high-power fiber laser weapons to be used in tactical fighter aircraft. Citing another reference, Northrop Grumman signed a contract with Morocco’s military to provide 172 laser rangefinders for helping soldiers locate and identify enemy targets.
Military Airborne Laser Market Segmentation:
The worldwide military airborne laser market has been segmented depending on product type, technology, application, and platform.
The product types mentioned in this report are laser altimeter, laser range finder, 3D scanning, LiDAR, and laser weapon. 3D scanning has seized the largest share of the market on account of the use of laser to gather geospatial data from unknown locations. This data plays a crucial role in surveillance and reconnaissance missions.
With respect to technology, the market can be broken down to semiconductor laser, fiber laser, chemical laser, solid-state and CO2 laser. The solid-state laser segment holds the most substantial share backed by continuous developments complemented by research and development (R&D). Meanwhile, the fiber laser segment could grab a significant portion of the market as a result of the rising use of thin optical fibers that cover a vast area easily. Additionally, their low maintenance and high efficiency compared to solid-state lasers boost their demand to a great extent.
Application-wise, the market caters to defense and homeland security. Between these, defense is expected to gain as the biggest application by 2023.
The types of platforms in the military airborne laser market are unmanned aerial vehicle (UAV), fixed-wing and rotary-wing.
Military Airborne Laser Market Regional Insight:
The main markets for military airborne laser comprise South America, Europe, the Middle East & Africa (MEA), North America, and Asia Pacific (APAC).
APAC is likely to attain a robust CAGR during the evaluation period and contribute significantly to the global market revenue as a result of high defense expenditure of India and China. Numerous tests by defense manufacturers could transform the market dynamics in the region in the near future. Also, increasing border disputes have augmented the need for military airborne laser systems in various countries in the region.
North America is set to emerge as a dynamic market for military airborne laser in the given timeframe. The steadfast growth rate of the regional market is in response to the continuous influx of funds by countries like the United States (U.S.) and Canada. Contracts between military arm and defense agencies for strengthening the country’s defense structure are expected to elevate the market position in the following years.
Military Airborne Laser Market Table of Content:
1 EXECUTIVE SUMMARY
2 SCOPE OF THE REPORT
2.1 MARKET DEFINITION
2.2 SCOPE OF THE STUDY
2.2.2 RESEARCH OBJECTIVE
2.3 RESEARCH PROCESS
2.3.1 PRIMARY RESEARCH
2.3.2 SECONDARY RESEARCH
2.4 MARKET SIZE ESTIMATION
2.5 FORECAST MODEL. . .
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