The global high energy lasers market was US$ 8.1 billion in 2021. The global high energy lasers market is forecast to grow to US$ 21.40 billion by 2030 by growing at a compound annual growth rate (CAGR) of 12.4% during the forecast period from 2022 to 2030.

Factors Influencing the Market

High energy lasers find their wide applications in the manufacturing, communication, and defense sector. The growth of these sectors will upsurge the demand for high energy lasers during the forecast period.

Increasing defense budget and research grants will increase the deployment of high-energy laser-based equipment. For instance, the US army started testing a prototype laser weapon for close-range air defense in May 2021.

Growing demand for drone systems will also stimulate the growth of the high energy lasers market. On the contrary, the high cost of high energy lasers may restrict the market from growth.

The leaders constantly invest in new technologies in order to cater to the growing demands. For instance, BIZ Engineering spent in Trumph Pvt. Ltd's 3kW TruLaser 1030 fiber laser cutter in May 2021 with the aim to provide a better substitute for previous CO2-based technology. Innovative advancements in high energy lasers will also upsurge the demand for the technology. For instance, IPG Photonics Corporation unveiled the YLR-U series near-infrared 1 ?m fiber lasers, having ultra-compact form factor with a record power to volume ratio.

Regional Analysis

On the basis of region, the Asia-Pacific high energy lasers industry is forecast to grow at the highest growth rate. It is due to the growing cross-border tension between the countries like China, India, and Japan. In addition, growing investments in the defense sector will contribute to the growth of the high energy lasers market.

The Defence Research and Development Organisation of India unveiled its plans in September 2020 to develop a national program on directed energy weapons. It will also include high-energy lasers, among others.

COVID-19 Impact Analysis

The wake of the COVID-19 pandemic drastically impacted the global high energy lasers market. The shortage of raw materials and workforce significantly impacted the global high energy lasers market. However, the high energy lasers market is forecast to recover at the same pace due to growing investments by government bodies. In addition, growing cross borders conflicts will upsurge the demand for the high energy lasers in the coming years.

Competitors in the Market

TRUMPF Pvt. Ltd
IPG Photonics
Coherent Inc.
nLight Inc.
Bae Systems PLC
Alltec Gmbh
Lockheed Martin Corporation
Applied Companies Inc.
The Boeing Company
Lumentum Holdings
Bystronic Laser AG
Wuhan Raycus Fiber Laser Technologies Co. Ltd
Raytheon Company
Northrop Grumman Corporation
Han's Laser Technology Co. Ltd.
Other Prominent Players
Market Segmentation

The global high energy lasers market segmentation focuses on Application, Product, and Region.

By Application

Cutting, Welding, and Drilling
Military and Defense
Communications
Other Applications
By Product Type

Gas Laser
Chemical Laser
Excimer Laser
Solid-State Laser
Fiber Laser
By Region

North America
The U.S.
Canada
Mexico
Europe
Western Europe
The UK
Germany
France
Italy
Spain
Rest of Western Europe
Eastern Europe
Poland
Russia
Rest of Eastern Europe
Asia Pacific
China
India
Japan
Australia & New Zealand
ASEAN
Rest of Asia Pacific
Middle East & Africa (MEA)
UAE
Saudi Arabia
South Africa
Rest of MEA
South America
Brazil
Argentina
Rest of South America