The content of this report will be updated with the latest scenarios based on the global COVID-19 Pandemic
The global directed energy weapons market (DEW) is projected to grow at a CAGR of 23.26% during the forecast period. The factors credited to the growth prospect of the market are rising demands for laser weapons system from the navy, increasing demand for accuracy and precision, and the overall growth of non-lethal weapons across the globe.
Technological advancements are instrumental in deciding the course of a war, and the directed energy weapons is a path-breaking technology in modern warfare that can potentially change the nature of military fights. The directed energy weapon is a system that emits extremely focused energy and is capable of energy transfer that can cause destruction. It finds its applications in ground-based air defense set against aerial targets and is also used in long-range, short-range, and medium-range strategic missions. The growing awareness of the benefits of the nonlethal weapons is leading to increased demands for the directed energy weapons system.
The rising interest of the government and civic bodies in the directed energy weapons across the globe have directed the course for many private sector companies to enter the market. Many companies have announced the development of their products and held demonstrations of the same. The global growth of non-lethal deterrents and the changing nature of warfare are set to impact the market growth in a positive manner. At the same time, the huge production costs are a setback for the market growth prospects. Several major players in the market have a large market share, which impacts the entry of new players in the market. Moreover, the market is highly competitive as a result of the presence of international players dominating the market.
The geographical analysis of the global directed energy weapons market includes the assessment of markets in the Asia Pacific, Europe, North America, and the rest of the world. The Asia Pacific region is set to record the highest CAGR during the forecast period. The market growth rate is attributed to increasing defense budget, rising terrorism, along with civil unrest in Japan, Australia, China, and India. The economic growth and development supplements the defense budget, which further boosts the defense sector and defense applications.
Major companies in the region are engaged in the research and development of new directed energy weapons. Some of the prominent companies in the market are Boeing Company, Bae Systems PLC, L-3 Brashear, MBDA, Applied Companies, and Lockheed Martin Corporation, etc.
Our report offerings include:
- Explore key findings of the overall market
- Strategic breakdown of market dynamics (Drivers, Restraints, Opportunities, Challenges)
- Market forecasts for a minimum of 9 years, along with 3 years of historical data for all segments, sub-segments, and regions
- Market Segmentation cater to a thorough assessment of key segments with their market estimations
- Geographical Analysis: Assessments of the mentioned regions and country-level segments with their market share
- Key analytics: Porter’s Five Forces Analysis, Vendor Landscape, Opportunity Matrix, Key Buying Criteria, etc.
- Competitive landscape is the theoretical explanation of the key companies based on factors, market share, etc.
- Company profiling: A detailed company overview, product/services offered, SCOT analysis, and recent strategic developments