Forecast: Military Laser Market to Grow 4% Annually

Military laser systems are expected to grow into a $2.73 billion global industry by 2020, according to analysts MarketsandMarkets.

The industry is estimated at $2.14 billion this year, with an estimated compound annual growth rate over the next six years of 4.23 percent.

In the U.S., the firm reported, money continues to flow into research and development of military laser technology despite the economic downturn and federal budget cuts that have slowed the defense industry. Meanwhile, India, Japan, China, Germany, France and Australia are emerging as growth regions, the firm reported.

The report is available at www.marketsandmarkets.com.