Market to reach $1.7 billion by 2030 Major advances in laser technology in military and defense fields

Multiple Integrated Laser Engagement System (MILES) Market

DUBLIN, April 3, 2024 (Globe Newswire) — The “Multiple Integrated Laser Engagement Systems (MILES) – Global Strategic Business Report” report has been added. ResearchAndMarkets.com Recruitment.

Global multiple integrated laser engagement systems (MILES) market expected to reach $1.7 billion by 2030

The global market for Multiple Integrated Laser Engagement Systems (MILES) was estimated at USD 968.3 million in 2023 and is projected to reach a revised size of USD 1.7 billion by 2030, with growing at a CAGR of 7.4% over the analysis period. .

This report studies the global market share of Multiple Integrated Laser Engagement Systems (MILES) in 2023 and highlights the market share percentage of key competitors. It provides an introduction to laser technology in military and defense, highlighting the major advances in this field. We discuss the impact of the pandemic on the military and defense industry, along with insights into the ‘new normal’ for the sector.

This report provides a future outlook on the global defense and related technology market and outlines its growth prospects from 2019 to 2025. Defines MILES and highlights its importance in military training. Recent market activities and innovations in this sector are also analyzed to categorize the players into strong, active, niche, or small in the global market, alongside assessment of competitive market presence.

The military end-use segment is expected to register a CAGR of 7.5% and reach USD 1.4 billion by the end of the analysis period. The growth of the automotive end-use segment is estimated at 7% CAGR over the next eight years.

The US market is estimated at $434.5 million, while China is expected to grow at a CAGR of 9.1%

The US multiple integrated laser engagement systems (MILES) market is estimated to be USD 434.5 million in 2023. China, the world’s second largest economy, is expected to reach a projected market size of $135.6 million by 2030. The CAGR for the analysis period 2023-2030 is 9.1%. Other notable geographic markets include Japan and Canada, which are expected to grow by 6% and 6.5%, respectively, over the 2023-2030 period. Among Europe, Germany is projected to grow at a CAGR of approximately 7.1%.

Key attributes:

story continues

Market overview

• Multiple Integrated Laser Engagement Systems (MILES) – Market Share Percentage of Global Main Competitors in 2023 (E)

• Major Advances in Laser Technology in Military and Defense: A Primer

• How will the military and defense industry be affected by the pandemic and what is the new normal?

• Moving forward to a new normal

• Global Defense and Related Technology Market Reset and Trajectory – Growth Outlook 2019-2025 (%)

• Multiple Integrated Laser Engagement System (MILES): Definition and Importance

• Recent market activity

• innovation

• Competitive Market Presence – Strong/Active/Niche/Mediocre (E) for Players Worldwide in 2023

Market trends and drivers

• Despite the hype around electronic warfare, the military remains a touchpoint for defense and combat, making training firearms skills a top privilege.

• Soldiers remain the Army’s greatest asset and most important weapon system Emphasizing the need to train and hone marksmanship skills at Miles: World’s Ready Military Forces by Country (in thousands)

• Focus on reducing military training costs increases the value of miles

• Innovation and progress remain essential to growth

• Importance of military training to prepare defense teams for battlefield operations drives adoption of MILES technology

• Taking military training effectiveness to a new level with simulators and simulations

Focus on carefully selected players(32 special features in total)

• lockheed martin company

• Cubic Co., Ltd.

• General Dynamics Mission Systems Co., Ltd.

• Rheinmetall AG

• Zen Technologies Co., Ltd.

• Bagheera

For more information about this report, please visit https://www.researchandmarkets.com/r/q32o3t.

About ResearchAndMarkets.com
ResearchAndMarkets.com is the world’s leading source of international market research reports and market data. We provide the latest data on international and regional markets, key industries, top companies, new products and latest trends.

attachment

CONTACT: CONTACT: ResearchAndMarkets.com Laura Wood,Senior Press Manager press@researchandmarkets.com For E.S.T Office Hours Call 1-917-300-0470 For U.S./ CAN Toll Free Call 1-800-526-8630 For GMT Office Hours Call +353-1-416-8900