A new featured study, titled “Directed Energy Weapons Market – Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2014 – 2020”, from Transparency Market Research (TMR) offers key insights into the market. According to the report, the global directed energy weapons market will expand at an impressive 20.80% CAGR during the forecast period from 2014 to 2020. In 2013, the global directed energy weapons market was worth more than US$1.4 bn and by 2020, the market is projected to be worth over US$5.2 bn.
The global directed energy weapons (DEW) market is driven by the increasing demand for high-precision weapons facilitating the needs of armed troops during warfare and reducing collateral damage, preventing the loss of civilian lives. The possible usage of directed energy weapons to prevent missile attacks by targeting, tracking, and eliminating the missiles effectively from a safe distance will also propel the market. The growing number of R&D initiatives undertaken by several government and non-government organizations will also boost the global directed energy weapons market. Other drivers of the global directed energy weapons market are the growing efforts for prevention of insurgency and support for anti-terrorism operations and growing demand for weaponry for crowd control.
Nevertheless, the global directed energy weapons (DEW) market will be suppressed by the rising defense budget cuts observed around the world. Moreover, the influence of humanitarian groups against the use of such weapons will also challenge the global directed energy weapons market.According to technology, the global directed energy weapons market is divided into high energy lasers, high power microwaves, and particle beams. The segment of high energy lasers (HEL) led the global directed energy weapons market in 2014, followed by high power microwaves (HPM).
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By deployment, the global directed energy weapons market is segmented into naval, land-based, and airborne. The segment of naval DEW is projected to expand at the highest CAGR of 22.0% during the forecasting horizon.According to weapon type, the global directed energy weapons market is classified into non-lethal and lethal. The non-lethal directed energy weapons segment is expected to expand at a remarkable 22.40% CAGR during the forecast period.
Region-wise, the global directed energy weapons market is segmented into North America, Europe, Asia Pacific, and Rest of the World. In 2013, North America led the global directed energy weapons market with a share of more than 50% and is projected to continue its dominance during the forecasting horizon. The North America DEW market benefits from the high demand for riot control weapons and growing demand for air, land, and naval-based advanced weapons systems. In the North America directed energy weapons market, the U.S. held the largest share and is projected to continue to lead the market in the foreseeable future. On the other hand, Asia Pacific is projected to expand at the fastest CAGR of 25.80% during the forecasting horizon.
Companies in the global directed energy weapons market will benefit from the military modernization programs and missile defense projects undertaken by several nations. Some of the key players operating in the global directed energy weapons market are Applied Companies, Schafer, Rafael Advanced Defense Systems, BAE System, Boeing, Northrop Grumman, and Lockheed Martin Corporation.