Asia Pacific 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)

Solid-State Laser Segment is Expected to be Fastest Growing During Forecast Period for APAC Region

According to this research study titled “APAC Laser Weapon Systems Market to 2028 - COVID-19 Impact and Regional Analysis and Forecast by Type and Application,” the market is expected to reach US$ 913.67 million by 2028 from US$ 231.58 million in 2021. The market is estimated to grow at a CAGR of 21.7 % from 2021 to 2028. The report provides trends prevailing in the APAC laser weapon systems market along with the drivers and restraints pertaining to the market growth. Rising development of laser weapon system for fighter aircraft and surging demand of high-energy laser weapon system are the major factor driving the growth of the APAC laser weapon systems market. However, low adoption of laser weapon systems hinders the growth of APAC laser weapon systems market.

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.

The APAC laser weapon systems market is segmented into type, application, and country. Based on type, the market is further segmented into chemical laser, solid-state laser, free electron laser, and fiber laser. The fiber laser segment dominated the market in 2020 and solid-state laser segment is expected to be fastest growing during forecast period. Based on application, the market is segmented into air-based, ground-based, and sea-based. The ground-based segment dominated the market in 2020 and is also expected to be fastest growing during forecast period.

Boeing; Elbit Systems Ltd.; L3Harris Technologies, Inc.; Lockheed Martin Corporation; Northrop Grumman Corporation; Raytheon Technologies Corporation; and Rheinmetall AG are among the leading companies in the APAC laser weapon systems market. The companies are focused on adopting organic growth strategies such as product launches and expansions to sustain their position in the dynamic market. For instance, in 2020, Rheinmetall to Develop A Key Future Laser Weapon System Component.

The report segments the APAC Laser Weapon Systems Market as follows:

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