An optical system or assembly is formed of a plurality of optical sources (10, 12, 14) and components of different laser-based equipment systems. The sources and/or components may be combined and/or eliminated to reduce complexity, cost and/or overall weight of the system by consolidating multiple laser sources into a reduced number of sources, and by multiplexing (19) different wavelength signals over common carriers. A laser engagement system (12, 14) and an infrared aim light (10) (or infrared illuminator) are powered by a single laser source which is adopted for use with conventional equipment by lengthening the duration of the coded pulses emitted by the transmitter. The transmitter may be triggered in response to the heat and/or pressure generated by the blank upon firing. A visible bore light may be eliminated by connecting infrared and/or visible aim light (10) directly to a rifle barrel. The laser engagement system and the infrared aim light (or infrared illuminator) are provided in a common housing assembly (410).