Global High Energy Lasers Market Grows at a Staggering CAGR of 12.50%

Introduction

High Energy Laser (HEL) devices for the military are now a practical possibility. A camera examines the threat and typically provides a better, higher-resolution image than the radar. The decision-maker then decides if the object represents a threat that requires attention. The navy all over the world is very interested in acquiring laser weapon systems to combat airborne threats like missiles and drones.

Market Dynamics

Rising Demand for Laser Weapons System in The Navy and the Growth of Non-Lethal Deterrents Drives the Global Market

In order to combat airborne threats like missiles and drones, there is an increasing demand for laser weapon systems in the navy across the globe. Due to their effectiveness, lasers are used as the first line of defense against missiles. Laser-based weapons mounted on naval ships are also being used to test whether they can render drones inoperable. Navy vassals are susceptible to attacks from rockets and other airborne threats, so the defense section is increasingly developing and introducing technologies to thwart such threats. The sharp increase in global spending on naval equipment and weapons is expected to impact the high-energy laser weapons market.

Increased Flexibility and Growing Power Creates Tremendous Opportunities

Due to their growing power and increased field adaptability, high-energy laser weapons are predicted to replace other technologies. High-energy laser weapons also play a significant role in creating new market opportunities for vendors. High-energy laser technology has revolutionized the entire standard of destructive weapons by enabling wide-ranging airborne and ground-based weapons to deliver extensive damage to electronic systems, combat troops, optical devices, high-speed approaching missiles, and even physical installations.

Regional Analysis

Asia-Pacific is the most significant shareholder in the global high-energy lasers market and is expected to grow at a CAGR of 12.9% during the forecast period. The Asia-Pacific region is leading the world in adopting high-energy lasers in various fields thanks to the market's expansion and the market being driven by solid nations like China, India, and Japan. Due to tensions between the US and China, border disputes, and the region's emphasis on nuclear power, high-energy lasers are used in defense and military systems in several areas, including India. As part of the Technology Perspective and Capability Roadmap by the Ministry of Defense, which is a part of the Tactical High Energy Laser System for the Army and Air Force of India, India has adopted and encouraged the use of high-energy lasers in the military. Due to China's emphasis on space control in terms of military dominance, it is anticipated that the market under study will benefit from technological advancements made by China with government-funded investments in research and development.

North America is expected to grow at a CAGR of 12%, generating USD 5.49 billion during the forecast period. North America is one of the most critical regions in the market under investigation because of the concurrent activities that demonstrate the widespread use of high-energy lasers. The high-energy laser market is characterized by significant military spending and steady growth in the construction industry and the aerospace and automotive sectors. Due to the rapid advancement of technology and the widespread use of HEL technology in North American primary industries, it is anticipated that the studied market will experience slow and steady adoption. With the support of the local governments, it is expected that the significant businesses operating there will continue to support the market's growth through product line expansion and mergers and acquisitions.

Adopting high-energy laser technology has accelerated the market's growth in Europe in countries like Germany and the United Kingdom. With the German military establishments, with whom it has a long-standing working relationship, Rheinmetall has tested maritime laser technology. These government-industry partnerships have sped up technology adoption in the military and defense industries. The United Kingdom increasingly utilizes high-energy laser technology in its missile and defense systems. The development of consortiums in the country, all of which are backed by government initiatives, has led to the implementation of numerous upgrades and the provision of new solutions in the market under investigation. It is anticipated that the high-energy lasers market will grow during the forecast period due to the abovementioned factors.

Key Highlights

• The global high-energy lasers market was valued at USD 8.20 billion in 2021. It is expected to reach USD 23.66 billion by 2030, growing at a CAGR of 12.50% during the forecast period (2022–2030).
• Based on application, the global high energy lasers market is bifurcated into cutting, welding and drilling, military and defense, and communications. The cutting, welding and drilling segment is the highest contributor to the market and is expected to grow at a CAGR of 11.9% during the forecast period
• Asia-Pacific is the most significant shareholder in the global high-energy lasers market and is expected to grow at a CAGR of 12.9% during the forecast period.

Competitive Players

Competitive Players

The global high energy lasers market’s major key players are RUMPF Pvt. Ltd, IPG Photonics, Coherent Inc., nLight Inc., Bae Systems PLC, Alltec Gmbh, Lockheed Martin Corporation, Applied Companies Inc., The Boeing Company, Lumentum Holdings, Bystronic Laser AG, Wuhan Raycus Fiber Laser Technologies Co. Ltd, Raytheon Company, Northrop Grumman Corporation, and Han's Laser Technology Co. Ltd.

Recent Developments

Market News

• In September 2022, The US Army awarded Lockheed Martin a USD 158 million contract to increase the production of Early Operational Capability (EOC) Precision Strike Missiles (PrSM). This is the next logical step after a successful Manufacturing Readiness Assessment visit with the Army, a significant stage in the development program that brought PrSM closer to fielding.
• In September 2022, The European Conference on Optical Communication (ECOC) will be held in Basel, Switzerland. Several thought leaders from Lumentum Holdings Inc. ("Lumentum"), a market-leading designer and manufacturer of cutting-edge optical and photonic products, have been invited to speak on a number of topics, including fostering diversity, inclusion, and a sense of belonging in the workplace.

Segmentation

Global High Energy Lasers Market: Segmentation

By Applications

• Cutting, Welding, and Drilling
• Military and Defense
• Communications
• Other Applications

By Regions

• North America
• Europe
• Asia-Pacific
• Rest of the World