Transparency Market Research delivers key insights on the global mid-infrared lasers market. In terms of revenue, the global mid-infrared lasers market is estimated to expand at a CAGR of 11.4 % during the forecast period, owing to numerous factors regarding which TMR offers thorough insights and forecasts in its report on the global mid-infrared lasers market.
The market is driven by different factors such as increasing demand for mid IR laser-based devices across various end-use industries such as aerospace & defense and research & development among others, and increased demand from healthcare, environment monitoring, and communication sectors.
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Mid-infrared Lasers Market: Dynamics
Geopolitical tensions have been increasing across the globe for the past few years. Therefore, countries are increasing their budgets to strengthen their military bases. The applications of mid-infrared laser in aerospace and defense sectors include countermeasure against heat sinking missiles, target illumination and designation, covert communications, lighting relevant to thermal vision, explosive bomb detection, and line of sight communication.
Moreover, mid-infrared laser spectroscopy provides a rapid, sensitive, and accurate method for detecting explosives. Therefore, the defense segment of the global mid-infrared lasers market is projected to expand significantly, in terms of revenue, as compared to that of any other end-use industry segment, during the forecast period.
Mid-IR spectrum and sources find major applications in defense and security in the form of explosive detection, nuclear and narcotic material detection, combat identification, precision marking and targeting, air, land, and naval countermeasures, and free-space communication. Moreover, mid-IR lasers are being deployed extensively in monitoring and detection of extraterrestrial bodies such as dark comets, dust warmed by starlight, planets, and asteroids, as these objects emit radiation in the mid-IR spectrum, thereby fueling the mid-IR laser market.
All these applications need stable mid-infrared sources for high precision. The aerospace & defense industry is witnessing high spending on research and development in developed as well as developing countries to strengthen their respective defense capabilities and incorporate advanced countermeasures to safeguard defense infrastructures and vessels from enemy threats. Thus, this factor is projected to have a moderate positive impact on the mid-infrared lasers market during the forecast period.
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Mid-infrared Lasers Market: Prominent Regions
The mid-infrared lasers market in Asia Pacific is expected to expand during the forecast period, owing to the presence of key market players, technological advancements, and rising usage of mid-infrared in various applications in the region. Increasing investments and adoption of advancements in technology in various industries such as aerospace & defense, healthcare, and chemical is also expected to fuel the mid-infrared lasers market across Asia Pacific. The mid-infrared lasers market in Europe is projected to expand considerably during the forecast period, due to increasing investments by manufacturers in the region and rising production for industrial purposes. The mid-infrared lasers market in North America is likely to expand during the forecast period, owing to an increase in usage of mid-infrared lasers in aerospace and research sectors and the presence of a large number of players designing and producing mid-infrared laser equipment in the region.
Mid-infrared Lasers Market: Key Players
Key players operating in the global mid-infrared lasers market are Hamamatsu Photonics Kk, Thermo Fisher Scientific Inc., Boston Electronics Corporation, Genia Photonics Inc, IMRA America Inc, IPG PHOTONICS CORPORATION, Photonics Industries International Inc , Alpes Lasers S.A, AMS Technologies AG, Menlo Systems GmbH, Sacher Lasertechnik Group, and Soliton Laser- und Messtechnik GmbH.
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