North America Laser Weapon Systems Market Forecast to 2028 - COVID-19 Impact and Regional Analysis By Type (Chemical Laser, Solid-State Laser, Free Electron Laser, and Fiber Laser) and Application (Air-based, Ground-based, and Sea-based)
Market Introduction
North America is a technologically advanced region comprising major economies such as the US, Canada, and Mexico. The region heavily invests in the military and defense sector to address the increasing terrorism activities and strengthen the armories of the nations. Additionally, as North America attracts numerous technological developments, the adoption of laser weapon systems is increasing in the region. Moreover, with the increasing investments in the development of laser weapon systems for fighter aircraft, the market is experiencing significant growth in the new offering. Most of the countries in the region are already deploying this advanced weapon technology by replacing existing traditional systems for improved accuracy and strength. North America has a maximum number of laser weapon manufacturing companies, which leads to an intense competition in the laser weapon systems market. Rising competition in the region encourages these companies to provide enhanced designs, power, and strength for defense weapons, through continuous development, at a lower cost than their counterparts in the market. Companies are developing new laser weapon systems with enhanced range, power, and energy consumption. For instance, the U.S. Navy is deploying laser weapon systems on its nine destroyers as an evolution part of the weapon systems. The nine destroyers are being nonlethal Optical Dazzling Interdictor, Navy (ODIN) system to protect ships and defense bases from aerial attack. Also, the U.S. Air Force awarded a contract of US$ 15.5 million to Raytheon Technologies to upgrade its ground-vehicle laser weapon systems. Growing investment in weapon systems and technological advancement in laser weapon system are the major factor driving the growth of the North America laser weapon systems market.
In case of COVID-19, North America is highly affected specially the US. The emergence of COVID-19 virus across the North America led to lockdown scenarios has pushed led the industry experts to analyze that the defense equipment manufacturing industry would face 4 weeks to 12 weeks of lag in military electronic part supply chain. This disruption in supply chain has damaged the defense equipment manufacturing in 2020 across North America region. The recovery period of impact of COVID-19 in defense industry is foreseen to be quicker as compared to various other industries. The economic growth has lowered, which delayed the ongoing projects of military and defense up-gradation. The US is one of the major exporters of arms products, but due to the disrupted supply chain and lower economic conditions of importing countries, export revenue is reduced. Enhancing trade relations to support international supply post lockdown helped the market to regain its position. The limiting strength of the workforce due to the physical distancing model hampered the production activities in-country. Also, the disruption in defense electronics supply chain caused damage to the US laser weapon systems market.
Get more information on this report :
Market Overview and Dynamics
The North America laser weapon systems market is expected to grow from US$ 769.84 million in 2021 to US$ 2,645.09 million by 2028; it is estimated to grow at a CAGR of 19.3 % from 2021 to 2028. Development of laser weapon system for fighter aircraft is expected to escalate the North America laser weapon systems market. Laser weapon systems are gaining major demand from North American countries such as US holding high military power. Increasing development in weapons and rising number of drones in military operations are creating demand for advanced defensive weapons. A large number of drones and advanced weapons can create severe damage owing to which the demand for high-precise laser weapon systems is rising. Increasing investment by various nations and vital R&D activities performed by the market players create new opportunities for the growth of the North America market. For instance, the US's self-protect high-energy laser demonstrator (SHiELD) initiative opens a new application area for laser weapon systems. A laser weapon system for fighter jets is being developed by Lockheed Martin, bringing a new level of advancement for warfighters. The laser weapons in fighter jets are enlacing the ability to shoot down missiles in flight and get an advantage over adversaries. The airborne laser weapon system creates a massive opportunity, such as destroying enemy aircraft, defending a friendly aircraft from attack, and improved ground targets, for the North America market growth.
Key Market Segments
In terms of type, the fiber laser segment accounted for the largest share of the North America laser weapon systems market in 2020. In terms of application, the ground-based segment held a larger market share of the North America laser weapon systems market in 2020.
Major Sources and Companies Listed
A few major primary and secondary sources referred to for preparing this report on the North America laser weapon systems market are company websites, annual reports, financial reports, national government documents, and statistical database, among others. Major companies listed in the report are Applied Technology Associates; Boeing; Elbit Systems Ltd.; General Atomics; L3Harris Technologies, Inc.; Lockheed Martin Corporation; MBDA; Northrop Grumman Corporation; Raytheon Technologies Corporation; and Rheinmetall AG.
Reasons to buy report
- To understand the North America laser weapon systems market landscape and identify market segments that are most likely to guarantee a strong return
- Stay ahead of the race by comprehending the ever-changing competitive landscape for North America laser weapon systems market
- Efficiently plan M&A and partnership deals in North America laser weapon systems market by identifying market segments with the most promising probable sales
- Helps to take knowledgeable business decisions from perceptive and comprehensive analysis of market performance of various segment form North America laser weapon systems market
- Obtain market revenue forecast for market by various segments from 2021-2028 in North America region.
North America Laser Weapon Systems Market Segmentation
North America Laser Weapon Systems Market - By Type
- Chemical Laser
- Solid-State Laser
- Free Electron Laser
- Fiber Laser
North America Laser Weapon Systems Market - By Application
- Air-based
- Ground-based
- Sea-based
North America Laser Weapon Systems Market - By Country
- US
- Canada
- Mexico
North America Laser Weapon Systems Market - Company Profiles
- Applied Technology Associates
- Boeing
- Elbit Systems Ltd.
- General Atomics
- L3Harris Technologies, Inc.
- Lockheed Martin Corporation
- MBDA
- Northrop Grumman Corporation
- Raytheon Technologies Corporation
- Rheinmetall AG
1. Introduction
1.1 Study Scope
1.2 The Insight Partners Research Report Guidance
1.3 Market Segmentation
2. Key Takeaways
3. Research Methodology
3.1 Coverage
3.2 Secondary Research
3.3 Primary Research
4. North America Laser Weapon Systems Market Landscape
4.1 Market Overview
4.2 Porter’s Five Forces Analysis
4.2.1 Bargaining Power of Buyers
4.2.2 Bargaining Power of Suppliers
4.2.3 Threat to New Entrants
4.2.4 Threat to Substitutes
4.2.5 Competitive Rivalry
4.3 Ecosystem Analysis
5. North America Laser Weapon Systems Market – Key Market Dynamics
5.1 Market Drivers
5.1.1 Growing Investment in Weapon Systems
5.1.2 Technological Advancement in Laser Weapon System
5.2 Market Restraints
5.2.1 Less Adoption of Laser Weapon Systems
5.3 Market Opportunities
5.3.1 Development of Laser Weapon System for Fighter Aircraft
5.4 Future Trends
5.4.1 Rising Demand of High-Energy Laser Weapon System
5.5 Impact Analysis of Drivers and Restraints
6. Laser Weapon Systems Market – North America Analysis
6.1 North America Laser Weapon Systems Market Overview
6.2 North America Laser Weapon Systems Market Revenue Forecast and Analysis
7. North America Laser Weapon Systems Market Revenue and Forecast To 2028 – By Type
7.1 Overview
7.2 North America Laser Weapon Systems Market, By Type (2020 & 2028)
7.3 Chemical Laser
7.3.1 Overview
7.3.2 Chemical Laser: Laser Weapon Systems Market Revenue and Forecast to 2028 (US$ Million)
7.4 Solid-State Laser
7.4.1 Overview
7.4.2 Solid-State Laser: Laser Weapon Systems Market Revenue and Forecast to 2028 (US$ Million)
7.5 Free Electron Laser
7.5.1 Overview
7.5.2 Free Electron Laser: Laser Weapon Systems Market Revenue and Forecast to 2028 (US$ Million)
7.6 Fiber Laser
7.6.1 Overview
7.6.2 Fiber Laser: Laser Weapon Systems Market Revenue and Forecast to 2028 (US$ Million)
8. North America Laser Weapon Systems Market Analysis and Forecast To 2028 – By Application
8.1 Overview
8.2 North America Laser Weapon Systems Market, By Application (2020 & 2028)
8.3 Air-based
8.3.1 Overview
8.3.2 Air-based: Laser Weapon Systems Market Revenue and Forecast to 2028 (US$ Million)
8.4 Ground-based
8.4.1 Overview
8.4.2 Ground-based: Laser Weapon Systems Market Revenue and Forecast to 2028 (US$ Million)
8.5 Sea-based
8.5.1 Overview
8.5.2 Sea-based: Laser Weapon Systems Market Revenue and Forecast to 2028 (US$ Million)
9. North America Laser Weapon Systems Market – Country Analysis
9.1 Overview
9.1.1 North America: Laser Weapon Systems Market, by Key Country
9.1.2 US: Laser Weapon Systems Market – Revenue and Forecast to 2028 (US$ Million)
9.1.2.1 US: Laser Weapon Systems Market, by Type
9.1.2.2 US: Laser Weapon Systems Market, by Application
9.1.3 Canada: Laser Weapon Systems Market – Revenue and Forecast to 2028 (US$ Million)
9.1.3.1 Canada: Laser Weapon Systems Market, by Type
9.1.3.2 Canada: Laser Weapon Systems Market, by Application
9.1.4 Mexico: Laser Weapon Systems Market – Revenue and Forecast to 2028 (US$ Million)
9.1.4.1 Mexico: Laser Weapon Systems Market, by Type
9.1.4.2 Mexico: Laser Weapon Systems Market, by Application
10. North America Laser Weapon Systems Market - COVID-19 Impact Analysis
10.1 North America: Impact Assessment of COVID-19 Pandemic
11. Industry Landscape
11.1 Overview
11.1.1 Market Initiative
11.1.2 Mergers and Acquisitions
11.1.3 Product Launch
12. Company Profiles
12.1 Elbit Systems Ltd.
12.1.1 Key Facts
12.1.2 Business Description
12.1.3 Products and Services
12.1.4 Financial Overview
12.1.5 SWOT Analysis
12.1.6 Key Developments
12.2 L3Harris Technologies, Inc.
12.2.1 Key Facts
12.2.2 Business Description
12.2.3 Products and Services
12.2.4 Financial Overview
12.2.5 SWOT Analysis
12.2.6 Key Developments
12.3 Lockheed Martin Corporation
12.3.1 Key Facts
12.3.2 Business Description
12.3.3 Products and Services
12.3.4 Financial Overview
12.3.5 SWOT Analysis
12.3.6 Key Developments
12.4 MBDA
12.4.1 Key Facts
12.4.2 Business Description
12.4.3 Products and Services
12.4.4 Financial Overview
12.4.5 SWOT Analysis
12.4.6 Key Developments
12.5 Northrop Grumman Corporation
12.5.1 Key Facts
12.5.2 Business Description
12.5.3 Products and Services
12.5.4 Financial Overview
12.5.5 SWOT Analysis
12.5.6 Key Developments
12.6 Raytheon Technologies Corporation
12.6.1 Key Facts
12.6.2 Business Description
12.6.3 Products and Services
12.6.4 Financial Overview
12.6.5 SWOT Analysis
12.6.6 Key Developments
12.7 Rheinmetall AG
12.7.1 Key Facts
12.7.2 Business Description
12.7.3 Products and Services
12.7.4 Financial Overview
12.7.5 SWOT Analysis
12.7.6 Key Developments
12.8 Boeing
12.8.1 Key Facts
12.8.2 Business Description
12.8.3 Products and Services
12.8.4 Financial Overview
12.8.5 SWOT Analysis
12.8.6 Key Developments
12.9 Applied Technology Associates
12.9.1 Key Facts
12.9.2 Business Description
12.9.3 Products and Services
12.9.4 Financial Overview
12.9.5 SWOT Analysis
12.9.6 Key Developments
12.10 General Atomics
12.10.1 Key Facts
12.10.2 Business Description
12.10.3 Products and Services
12.10.4 Financial Overview
12.10.5 SWOT Analysis
12.10.6 Key Developments
13. Appendix
13.1 About The Insight Partners
13.2 Word Index
LIST OF TABLES
Table 1. North America Laser Weapon Systems Market Revenue and Forecast to 2028 (US$ Million)
Table 2. North America: Laser Weapon Systems Market, by Country – Revenue and Forecast to 2028 (US$ Million)
Table 3. US: Laser Weapon Systems Market, by Type – Revenue and Forecast to 2028 (US$ Million)
Table 4. US: Laser Weapon Systems Market, by Application – Revenue and Forecast to 2028 (US$ Million)
Table 5. Canada: Laser Weapon Systems Market, by Type – Revenue and Forecast to 2028 (US$ Million)
Table 6. Canada: Laser Weapon Systems Market, by Application – Revenue and Forecast to 2028 (US$ Million)
Table 7. Mexico: Laser Weapon Systems Market, by Type – Revenue and Forecast to 2028 (US$ Million)
Table 8. Mexico: Laser Weapon Systems Market, by Application – Revenue and Forecast to 2028 (US$ Million)
Table 9. List of Abbreviation
LIST OF FIGURES
Figure 1. North America Laser Weapon Systems Market Segmentation
Figure 2. North America Laser Weapon Systems Market Segmentation – By Country
Figure 3. North America Laser Weapon Systems Market Overview
Figure 4. North America Laser Weapon Systems Market, by Type
Figure 5. North America Laser Weapon Systems Market, by Application
Figure 6. North America Laser Weapon Systems Market, By Country
Figure 7. Porter’s Five Forces Analysis
Figure 8. North America Laser Weapon Systems Market- Ecosystem Analysis
Figure 9. North America Laser Weapon Systems Market Impact Analysis of Drivers and Restraints
Figure 10. North America Laser Weapon Systems Market Revenue Forecast and Analysis (US$ Million)
Figure 11. North America Laser Weapon Systems Market, by Type (2020 & 2028)
Figure 12. North America Chemical Laser: Laser Weapon Systems Market Revenue and Forecast to 2028 (US$ Million)
Figure 13. North America Solid-State Laser: Laser Weapon Systems Market Revenue and Forecast to 2028 (US$ Million)
Figure 14. North America Free Electron Laser: Laser Weapon Systems Market Revenue and Forecast to 2028 (US$ Million)
Figure 15. North America Fiber Laser: Laser Weapon Systems Market Revenue and Forecast to 2028 (US$ Million)
Figure 16. North America Laser Weapon Systems Market, By Application (2020 & 2028)
Figure 17. North America Air-based: Laser Weapon Systems Market Revenue and Forecast to 2028 (US$ Million)
Figure 18. North America Ground-based: Laser Weapon Systems Market Revenue and Forecast to 2028 (US$ Million)
Figure 19. North America Sea-based: Laser Weapon Systems Market Revenue and Forecast to 2028 (US$ Million)
Figure 20. North America: Laser Weapon Systems Market, by Key Country – Revenue (2020) (USD Million)
Figure 21. North America: Laser Weapon Systems Market Revenue Share, by Key Country (2020 & 2028)
Figure 22. US: Laser Weapon Systems Market – Revenue and Forecast to 2028 (US$ Million)
Figure 23. Canada: Laser Weapon Systems Market – Revenue and Forecast to 2028 (US$ Million)
Figure 24. Mexico: Laser Weapon Systems Market – Revenue and Forecast to 2028 (US$ Million)
Figure 25. Impact of COVID-19 Pandemic in North American Country Markets
- Applied Technology Associates
- Boeing
- Elbit Systems Ltd.
- General Atomics
- L3Harris Technologies, Inc.
- Lockheed Martin Corporation
- MBDA
- Northrop Grumman Corporation
- Raytheon Technologies Corporation
- Rheinmetall AG