NEW YORK, July 13, 2015 /PRNewswire/ -- The North America military laser systems market for defense and homeland security was estimated at $642 million in 2014 and is projected to rise to approximately $771.3 million by 2019 at a CAGR of 3.7%.
Along with the need for more efficient systems in the battlefield for improved performance, the change in nature of warfare has resulted in the increased production of laser guided weapons. To knock down an enemy tank, it is necessary to range it very accurately. Due to its high intensity and very low divergence even after travelling quite a few kilometers, laser is ideally suited for this purpose. The laser range finder works on the principle of radar. It makes use of the characteristic properties of the laser beam, high intensity, coherency, and directionality. The missile itself carries a laser scanner and seeker for active homing on to the target.
Besides military, the laser systems market will also impact the manufacturing of flight panel, which would in turn increase the usage of lasers in the aerospace industry. Lasers are widely used in communications & manufacturing and therefore, the demand for components required in laser technology is also rising.
This report gives insight into the regional trends for spending and analyzing market share. It provides information pertaining to leading competitors in the laser technology market and, apart from the general overview of the companies, it also offers financial analysis, products & services, and key developments.
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