PUNE, India, October 18, 2016 /PRNewswire/ --
The report "Directed Energy Weapons Market by Technology (High Energy Laser, High-Power Microwave, Particle Beam), HEL System (Solid State Laser, Chemical Laser, Free Electron Laser, Fiber Laser), Product, End User, Application, and Region - Global Forecast to 2021", published by MarketsandMarkets, the market is estimated to reach USD 24.45 Billion by 2021, at a CAGR of 28.90% from 2016 to 2021.
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Browse 140 market data Tables and 92 Figures spread through 215 Pages and in-depth TOC on "Directed Energy Weapons Market"
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This growth can be attributed to the increasing incidences of armed conflicts, war, and terrorism, globally, which are expected to drive the demand for directed energy weapons.
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.
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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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