A new Research and Markets report says the increased adoption of high energy laser-based systems to counter airborne threats and investments in research and development of such technologies by militaries worldwide will help increase the demand for high energy lasers.
The market research company said Friday it predicts that the global market for high energy lasers will grow at a rate of 12.4 percent over the next five years to reach $14.74 billion by 2026, and expects the defense industry to drive a notable share of the technology’s R&D and application as top defense spending countries express interest in developing high energy lasers as part of their forces.
Such increased interest in high energy laser development among major defense spenders will help spur the application of the technology as part of missile defense systems, according to the report.
Research and Markets noted an increasing demand for laser weapons equipment among naval forces worldwide as they deal with drones, missiles and other airborne threats.
The Asia-Pacific region has emerged as the top adopter of the technology across various fields driven by Japan, India and China, among other countries, according to the analysis.