Military laser systems market to grow by $2.15 billion by 2026: reportNews
October 19, 2022
NEW YORK, New York. A new report predicts that the military laser systems market will grow by $2.15 billion between 2021 and 2026 for a compound annual ground rate (CAGR) of 7.36%.
The report, from Technavio, states that the emergence of the directed-energy atmospheric lens concept is one of the factors that could drive the growth of the global military laser systems market over the five-year period. But it also notes that limitations of current laser weapon systems will limit potential growth as well.
The use of lasers in communications is the most lucrative aspect of the industry, the report states.
"The market is driven by the focus on the development of laser-based communication," it adds. "The majority of communications that currently happen in the military sector are carried out through radio frequencies that have limited spectrums. However, the lower bandwidth of radio signals is limiting their large-scale adoption in the military sector.
"This is driving the need for the development of networks that provide higher bandwidth. Laser communications can operate up to a thousand times faster than conventional radio-frequency-based communication systems."