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Research and Markets: Military Laser Systems Market Worth $3B By 2020

Research and Markets: Military Laser Systems Market Worth $3B By 2020 - top government contractors - best government contracting event

market researchResearch and Markets forecasts that the military laser systems market for the aerospace, defense and homeland security industries will reach a market value of $2.73 billion within the next six years.

This 4.23 percent compound annual growth rate is due to increased research and development activity and a move toward self-sufficiency of some Asia-Pacific and European countries, the firm said Wednesday.

The firm named CoherentCreaformFaro TechnologiesIPG Photonics, Lockheed Martin, Newport, Northrop Grumman, RaytheonRofin- Sinar TechnologiesThalesTrimble and Trumpf as the leading companies in the market.

Emerging growth regions will be Australia, China, France, Germany, India and Japan, Research and Markets said.

The corresponding market research report also analyzed the global military laser systems market by application and technology market share.

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