July 27, 2015: According to a report on global military laser systems market 2015-2019, the global military laser systems market will grow at a CAGR of 7.97% over the period 2014-2019. Laser systems in airborne laser mine detection are an emerging trend in the market. Airborne laser mine detection systems can detect and localize floating and near-surface mines, for wide area applicability in a short period of time, says the report.
According to the report, the high demand for laser systems from the military and defense sector is one of the major drivers in this market. Globally, this sector is using laser-based systems for purposes such as range finding, target designation, anti-missile systems, and in neutralizing opponents’ weapon systems.
Further, the report states that budget cuts in military laser spending are one of the major challenges in the market. It adversely affects the market as there have been military budget cuts in major military powerhouses such as the US and Europe.
Key players in global military laser systems
The report recognizes the following companies as the key players in the Global Military Laser Systems Market: BAE Systems plc, Lockheed Martin Corp., Northrop Grumman Corp., Raytheon Co. and Thales Group
Other Prominent Vendors in the market are: 3SAE Technologies, American Laser Enterprises, Boeing, Coherent, Creaform, Electro Optic Systems, Eurolaser, Faro Technologies, General Atomics, IPG Photonics, Jenoptik, Kratos Defense & Security Solutions, L-3 Advanced Laser Systems Technology, Newport Corporation, Trumpf, UTC Aerospace Systems, Vectronix and Visotek.
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