Military Laser Systems Market is likely to witness an impressive CAGR of 9.2% during the forecast period. Growing use of high-speed laser in communication networks and demand for highly precise weapons are the major driving factors contributing to the growth of the global military laser systems market. Further, progressions in commercial technologies present fresh growth opportunities for the market players operating in the global military laser systems market.
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Military Laser Systems Market Segment Insights:
By Product Type:
The 3D scanning segment is estimated to register the highest growth during the forecast period. Currently, the laser weapon segment is commanding the market, which comprises high energy laser technologies and are of three types - chemical lasers, solid-state laser, and Free Electron Laser (FEL).
By Application Type:
The defense segment dominated the market in 2018, and is expected to continue its dominance during the forecast period.
By Region:
The military laser systems market is commanded by North America, followed by Europe, Asia-Pacific, the Middle East, and rest of the world (RoW). The Middle East is one of the top five defense markets in the world, and it is estimated that the Middle Eastern defense expenditure would rise by fourfold in the subsequent times. The military laser systems market is growing in the Middle East, as it could pace up force protection against unmanned aerial vehicles or rocket, artillery, small boat swarms, mortar or missile attack. This has enabled the Middle Eastern region to become the fastest-growing region in the market during the forecast period.
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