The military laser systems market is has a substantial growth potential on account of increased investments into research & development of laser weapons.
Military laser systems have gained prominence owing to a transformation in the nature of warfare. Inherent characteristics such as low divergence and high intensity has resulted in laser being the preferred choice for accurately ranging and knocking down enemy tanks located at a considerable distance. Shrinking budgets in the wake of economic downturn is expected to hinder the development of military laser systems.
Increased government initiatives for strengthening defense are expected to play a pivotal role in military laser systems’ demand. For instance, in August 2014, the U.S. Government awarded a USD 11 million contract to Raytheon Company under the Office of Naval Research (ONR) program, for the development of a vehicle-based laser device capable of destroying drones and other low-flying enemy threats. In October 2014, the U.S. Navy awarded Raytheon Company a contract worth USD 49.5 million for the production of laser-guided Maverick missiles. In December 2014, Thales and the Institute of Photonic Sciences (ICFO) signed an agreement with Thales for the development of high-energy, ultrafast mid-infrared lasers.
The military laser systems market can be segmented on the basis of product, application, and technology. The product segment can be further segregated into laser designator, LiDAR, 3D scanning, laser Doppler vibrometer, laser range finder, ring laser gyro, and laser altimeter. Key end-use industries include defense, aerospace, and homeland security. Based on technology, the market can be segregated into fiber laser, solid state laser, chemical laser, CO2 laser, and semiconductor laser.
Key participants in the military laser systems market include Trumpf Group, Trimble Navigation Ltd., Thales Group, Rofin-Sinar Technologies Inc., Raytheon, Northrop Grumman, Newport Corporation, Lockheed Martin, IPG Photonics, FARO Technologies, Creaform, and Coherent Inc.
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