Research 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 Coherent, Creaform, Faro Technologies, IPG Photonics, Lockheed Martin, Newport, Northrop Grumman, Raytheon, Rofin- Sinar Technologies, Thales, Trimble 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.