The military laser systems market is estimated to be USD 5.0 billion in 2023 and is projected to reach USD 7.5 billion by 2028, at a CAGR of 8.7% from 2023 to 2038. The market growth can be attributed to the rising focus on development of high-precision military laser systems and significant investments by governments for the development and procurement of modern weapon systems.
Northrop Grumman Corporation (US), Raytheon Technologies Corporation (US), Lockheed Martin Corporation (US), Thales Group (France), Elbit System Ltd. (Israel), and BAE System plc (UK) are some of the leading companies in the military laser systems market. To strengthen their position in this market, these companies have implemented a variety of growth strategies which include high R&D investment, new product launches, collaborations & expansions, contracts, partnerships, and agreements.
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Northrop Grumman Corporation is a global aerospace and defense technology company headquartered in Falls Church, Virginia, United States. The company was formed in 1994 through the merger of Northrop Corporation and Grumman Corporation. Northrop Grumman provides innovative systems, products, and solutions in areas including autonomous systems, cyber, space, strike, and logistics and modernization.
The company operates in four main business sectors:
Northrop Grumman is committed to supporting its customers with cutting-edge technology and services. The company has a strong focus on research and development and invests heavily in innovative solutions that help its customers to succeed in challenging environments.
Lockheed Martin Corporation specializes in the research, design, development, manufacturing, and integration of advanced technology systems and related products. The company operates through four segments, namely, Aeronautics, Missiles and Fire Control, Rotary and Mission Systems, and space. The Aeronautics segment is engaged in the research, design, development, manufacturing, integration, sustainment, support, and upgrade of advanced military aircraft, including combat and air mobility aircraft, unmanned air vehicles, and related technologies. The Rotary and Mission Systems segment (RMS) provides design, manufacturing, service, and support for a variety of military and commercial helicopters; ship & submarine mission and combat systems; mission systems and sensors for rotary and fixed-wing aircraft; sea and land-based missile defense systems; radar systems; Littoral Combat Ship (LCS); simulation and training services; and unmanned systems and technologies. The RMS segment also supports the requirements of government customers in cybersecurity and delivers communications and command and control capabilities through complex mission solutions for defense applications.
Raytheon Technologies Corporation (Raytheon) is a leading provider of products for defense, civil government, and cybersecurity applications. In 2018, it merged with United Technology Corporation (UTC), which operates via Collins Aerospace Systems, Pratt & Whitney, Otis, and Carrier. Raytheon offers advanced sensors and imaging technology, electronic warfare systems, as well as missile defense systems. It also offers radar for air and missile defense, airborne surveillance, air traffic control, and maritime surveillance, along with advanced technologies for space, which include a space tracking and surveillance system used to detect and track ballistic missiles.
Thales Group designs technological solutions and delivers services through business segments such as aerospace, Transport, Defense and Security, Digital Identity and Security, and Others. The aerospace segment develops onboard systems, solutions, and services for commercial airlines as well as defense customers. The Transport segment develops ground transportation systems for civil customers. The Defense and Security segment offers secure communication & information systems, land & air systems, and defense mission systems for armed and security forces.
BAE Systems plc is the world's second-largest defense contractor, operating through five different business segments: electronic systems, cyber and intelligence, platforms and services, air, and maritime. The products and services offered by the company cater to air, land, maritime, and cybersecurity applications. It develops and delivers advanced defense & aerospace systems for air, military, and naval forces. The company has a presence in Australia, India, Saudi Arabia, UK, and US.
Military Laser Systems Market by Application (Weapons and Non-weapons), Technology (Solid-state Laser, Fiber Laser, Semiconductor Laser, Gas Laser, Liquid Laser, Free-electron Laser), Platform, End Use, Output Power - Global Forecast to 2028
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