Dublin, April 03, 2024 (GLOBE NEWSWIRE) -- The "Multiple Integrated Laser Engagement Systems (MILES) - Global Strategic Business Report" report has been added to ResearchAndMarkets.com's offering.
Global Multiple Integrated Laser Engagement Systems (MILES) Market to Reach $1.7 Billion by 2030
The global market for Multiple Integrated Laser Engagement Systems (MILES) estimated at US$968.3 Million in the year 2023, is projected to reach a revised size of US$1.7 Billion by 2030, growing at a CAGR of 7.4% over the analysis period 2023-2030. 
The report examines the global market share of Multiple Integrated Laser Engagement Systems (MILES) in 2023, highlighting key competitors' percentage market share. It provides a primer on laser technology in military and defense, emphasizing the significant strides made in this sector. The impact of the pandemic on the military and defense industry is discussed, along with insights into the "new normal" for the sector.
The report offers a forward-looking perspective on the global defense and related technologies market, outlining growth outlooks for the years 2019 through 2025. It defines MILES and underscores its importance in military training. Recent market activities and innovations in this field are also analyzed, alongside an assessment of competitive market presence, categorizing players as strong, active, niche, or trivial in the global market.
Soldiers end-use segment is expected to record 7.5% CAGR and reach US$1.4 Billion by the end of the analysis period. Growth in the Vehicles end-use segment is estimated at 7% CAGR for the next 8-year period.
The U.S. Market is Estimated at $434.5 Million, While China is Forecast to Grow at 9.1% CAGR
The Multiple Integrated Laser Engagement Systems (MILES) market in the U.S. is estimated at US$434.5 Million in the year 2023. China, the world's second largest economy, is forecast to reach a projected market size of US$135.6 Million by the year 2030 trailing a CAGR of 9.1% over the analysis period 2023 to 2030. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 6% and 6.5% respectively over the 2023-2030 period. Within Europe, Germany is forecast to grow at approximately 7.1% CAGR.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 169 |
| Forecast Period | 2023 - 2030 |
| Estimated Market Value (USD) in 2023 | $968.3 Million |
| Forecasted Market Value (USD) by 2030 | $1700 Million |
| Compound Annual Growth Rate | 8.4% |
| Regions Covered | Global |
MARKET OVERVIEW
- Multiple Integrated Laser Engagement Systems (MILES) - Global Key Competitors Percentage Market Share in 2023 (E)
- Laser Technology in Military & Defense Takes Huge Strides: A Primer
- How the Military & Defense Industry is Impacted by the Pandemic & What's the New Normal?
- Way Forward to the New Normal
- Global Defense & Related Technologies Market Reset & Trajectory - Growth Outlook (In %) For Years 2019 Through 2025
- Multiple Integrated Laser Engagement System (MILES): Definition & Importance
- Recent Market Activity
- Innovations
- Competitive Market Presence - Strong/Active/Niche/Trivial for Players Worldwide in 2023 (E)
MARKET TRENDS & DRIVERS
- Despite the Hype About Electronic Warfare, Military Troops Still Remain the Touch Point for Defense & Battle, Training Them With Firearms Skills Becomes the Highest Prerogative
- Soldiers Still Remain the Army's Greatest Asset & the Most Important Weapon System Underlining the Need to Train & Sharpen Their Marksmanship With MILES: Global Active Ready-to-Fight Military Manpower (In 000s) by Country
- Focus on Reducing Costs of Military Training Drives the Value of MILES
- Technology Innovations & Advancements Remain Crucial to Growth
- Critical Importance of Military Training in Preparing Defense Teams for Battlefield Operations Fuels Adoption of MILES Technology
- Simulators & Simulations Add New Level of Effectiveness in Military Training
FOCUS ON SELECT PLAYERS(Total 32 Featured)
- Lockheed Martin Corporation
- Cubic Corporation
- General Dynamics Mission Systems, Inc.
- Rheinmetall AG
- Zen Technologies Ltd.
- Bagira
For more information about this report visit https://www.researchandmarkets.com/r/q32o3t
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