Asia-Pacific Laser Weapon Systems Market

Market Introduction

The laser weapon systems market in APAC is segmented into China, India, Japan, South Korea, and the Rest of APAC. Swift advancements in technologies, various initiatives by governments, and the growing number of military systems manufacturing industries are among the factors propelling the growth of the region's overall economy, driving it from a developing to developed phase. APAC strongly imported advanced military armaments in the past few years owing to the increased tension among various nations. The increased strain between India and China; Russia and South Korea; China and Taiwan; China and South Korea; and India and Pakistan generate demand for advanced weapons, which supports the market growth. For instance, in December 2020, according to the South Korean Defense Ministry, the country's defense system scrambled 19 fighter jets of Russian and Chinese military forces due to intrusion into South Korea's air defense identification zone. Such rising conflicts are encouraging the countries to upgrade their military weapons, which, in turn, is driving the growth of the laser weapon systems market in APAC. In September 2020, the Indian Defence Research and Development Organisation (DRDO) announced the plan to develop new directed energy weapons (DEWs) such as high-powered microwaves and high-energy lasers for contactless conflicts of the future. Also, India has initiated the project to establish a tactical high-energy laser system for the air force and army. Similarly, China and Japan also invested a large amount of capital in developing vehicle-mounted laser systems. Increasing conflicts among Asian countries create a rising demand for modern weapons with more accuracy and firepower. Meeting these advanced weapon needs, the laser weapon system is getting developed by various countries such as India, China, and Japan, which, in turn, drives the market growth. 

In case of COVID-19, APAC is highly affected specially India. The COVID-19 emerged in China and has affected several nearing countries such as South Korea, India, and others. Countries like China, India, South Korea, Japan, and others are increasingly moving towards the advancement of the military and defense. The COVID-19 has minimal impact on the market than other nations, as the defense contractors in the countries continued to operate, however, due to shortage of workforce, the year-on-year growth rate of development of products and technologies declined. China being the largest military spender in the region witnessed havoc outburst of COVID-19 virus during Q1 of 2020, which led the government to shut down the country, thereby, tampering the entire supply chain. This reflected loss in annual sales among the Chinese defense electronics and defense equipment manufacturers. China is also the largest DEW systems (including LaWS) developer and manufacturer in APAC. The massive outbreak of COVID-19 has reflected limited developments in the laser weapon systems industry.

Asia-Pacific Laser Weapon Systems Strategic Insights

Strategic insights for the Asia-Pacific Laser Weapon Systems provides data-driven analysis of the industry landscape, including current trends, key players, and regional nuances. These insights offer actionable recommendations, enabling readers to differentiate themselves from competitors by identifying untapped segments or developing unique value propositions. Leveraging data analytics, these insights help industry players anticipate the market shifts, whether investors, manufacturers, or other stakeholders. A future-oriented perspective is essential, helping stakeholders anticipate market shifts and position themselves for long-term success in this dynamic region. Ultimately, effective strategic insights empower readers to make informed decisions that drive profitability and achieve their business objectives within the market.

Asia-Pacific Laser Weapon Systems Report Scope

Asia-Pacific Laser Weapon Systems Regional Insights

The geographic scope of the Asia-Pacific Laser Weapon Systems refers to the specific areas in which a business operates and competes. Understanding local distinctions, such as diverse consumer preferences (e.g., demand for specific plug types or battery backup durations), varying economic conditions, and regulatory environments, is crucial for tailoring strategies to specific markets. Businesses can expand their reach by identifying underserved areas or adapting their offerings to meet local demands. A clear market focus allows for more effective resource allocation, targeted marketing campaigns, and better positioning against local competitors, ultimately driving growth in those targeted areas.

The APAC laser weapon systems market is expected to grow from US$  231.58 million in 2021 to US$ 913.67 million by 2028; it is estimated to grow at a CAGR of 21.7 % from 2021 to 2028. Mounting technological development in laser weapon system is expected to surge the market growth. Improvements in laser techniques have resulted in high-energy laser weapons with longer range. Laser weapon-developing companies across APAC region such as Raytheon Technologies and Lockheed Martin Corporation are introducing new developments in laser technologies. For instance, Raytheon Technologies has awarded US$ 15.5 million contracts to develop an upgraded buggy-mounted laser weapon system. The weapon can destroy drones or small unmanned aerial systems within 3 km with a game-style controller and a laptop. The market players across APAC region are launching new laser weapon systems depicting advanced versions with better performance. For instance, in November 2020, Hanwha Group, a South Korean conglomerate, showcased its new family of laser weapon systems at DX Korea 2020 defense exhibition. The three advanced laser systems—laser-based anti-aircraft weapon gun, self-propelled system, and light tactical vehicle equipped with laser weapon system—have been unveiled by the company. Therefore, the increasing development in laser weapon systems gives a variety of options to customers, thereby augmenting the APAC market growth. 

Key Market Segments

In terms of type, the fiber laser segment accounted for the largest share of the APAC laser weapon systems market in 2020. In terms of application, the ground-based segment held a larger market share of the APAC 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 APAC 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 Boeing; Elbit Systems Ltd.; L3Harris Technologies, Inc.; Lockheed Martin Corporation; Northrop Grumman Corporation; Raytheon Technologies Corporation; and Rheinmetall AG.

Reasons to buy report

• To understand the APAC 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 APAC laser weapon systems market 
• Efficiently plan M&A and partnership deals in APAC 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 APAC laser weapon systems market
• Obtain market revenue forecast for market by various segments from 2021-2028 in APAC region.

APAC Laser Weapon Systems Market Segmentation

APAC Laser Weapon Systems Market - By Type

• Chemical Laser
• Solid-State Laser
• Free Electron Laser
• Fiber Laser  

APAC Laser Weapon Systems Market -

By Application

• Air-based
• Ground-based
• Sea-based

APAC Laser Weapon Systems Market - By Country

• China
• India
• Japan
• South Korea
• Rest of APAC      

APAC Laser Weapon Systems Market - Company Profiles

• Boeing
• Elbit Systems Ltd.  
• L3Harris Technologies, Inc.
• Lockheed Martin Corporation
• Northrop Grumman Corporation
• Raytheon Technologies Corporation
• Rheinmetall AG