Lasers

Military laser market to reach $4.63B

The global military laser market will reach $4.63 billion by 2020, according to a forecast by market research firm MarketsandMarkets. This reflects a compound annual growth rate of 8.86 percent from 2015.

"The solid-state laser market is estimated to hold the largest market share in 2015 of the military laser systems market," the report said. "The chemical laser market is projected to grow at the highest [compound annual growth rate] during the forecast period. This is due to the continuous rise in the R&D activities of military laser systems in the U.S., as well as the in the emerging economies such as India and China."