Asia-Pacific & the Middle East to be the opportunistic markets for directed energy weapons

The directed energy weapons market is estimated to reach USD 24.45 Billion by 2021, at a CAGR of 28.90% from 2016 to 2021.

The directed energy weapons market is projected to grow from USD 6.87 Billion in 2016 to USD 24.45 Billion by 2021, at a CAGR of 28.90% during the forecast period. In recent years, the range of advanced offensive and defensive capabilities offered by smart weapons has made them an indispensable component of any military force. This has created an increased demand for directed energy weapons from various regions, such as North America, Asia- Pacific, and the Middle East. This has consequently resulted in increased R&D expenditure for the development of directed energy weapons.

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Defense segment to dominate the directed energy weapons market in 2016

The directed energy weapons market is estimated to be dominated by the defense application segment, in 2016. A number of factors, such as increasing terrorism and unconventional warfare across the globe have led to an increase in the demand for high quality, integrated, precise, and cost-effective energy weapons by defense forces. The high growth in defense application ensures the disruptive change of warfare with an alteration to how militaries fight and the metrics that make weapons useful.

High energy laser market projected to witness highest growth during the forecast period

High energy laser is projected to be the fastest-growing segment of the directed energy weapons market during the forecast period, due to the development of advanced technologies, such as Active Denial Systems (ADS) and pain ray. In addition to being used in the defense sector, the demand for laser equipped weapons has increased in the homeland security segment to control riots and cross border trespassing.

Asia-Pacific & the Middle East to be the opportunistic markets for directed energy weapons

The directed energy weapons market was dominated by North America in 2015, owing to technological advancements and rising incidences of terrorism and civil unrest in the region. The Asia-Pacific directed energy weapons market is expected to witness highest growth, due to the increasing research and development activities undertaken in the region for the development of advanced technology-based directed energy weapons for tactical operations, increasing military expenditures, implementation of military modernization programs in major economies of the region, and rising demand for autonomous weapons for tactical operations, primarily owing to rising threats of cross-border terrorism in several countries.

Key players in the directed energy weapons market include Lockheed Martin (U.S.), Boeing (U.S), Northrop Grumman (U.S.), Raytheon Company (U.S.), BAE systems (U.K.)

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Browse 140 market data tables and 92 figures spread through 215 pages and in-depth TOC on “Directed Energy Weapons (DEW) Market - Global Forecast to 2021”

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