The global Directed Energy Weapons market is growing at a CAGR of 20.8% from 2014 to 2020. The market’s value was US$1.41 billion in 2013. Should the global directed energy weapons market’s rate of growth be consistent, it will reach a value of US$5.25 billion, according to Transparency Market Research, a leading market analysis company.
Need for Precision and Low Costs Drive Global Directed Energy Weapons Market
One of the key reasons for the growing demand for directed energy weapons is their precision and their ability to be either lethal or non-lethal. This makes directed energy weapons a valuable tool for riot control. Directed energy weapons help reduce collateral damage and fatalities while ensuring success rates of operations in resolving political disputes as well as urban warfare scenarios. The majority of the demand from the global directed energy weapons market arrives from government organizations and law enforcement agencies. The global directed energy weapons market is expected to help nations give a strong answer to the changing nature of urban warfare.
High-energy lasers also provide a good opportunity in significantly reducing the cost per shot in situations of anti-terrorism tactics, insurgency control, and asymmetric urban warfare. The global directed energy weapons market also provides valuable alternatives to conventional anti-cruise missile systems and counter-ballistic measures. It is their low cost, particularly in comparison with conventional weapons, and the relatively lower use of raw materials that make the global directed energy weapons market increasingly feasible for many investors. Other advantages offered by directed energy weapons manufacturers are the ability to use lasers to track and/or destroy enemy missiles at increasingly safer distances.
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High-energy Lasers Most Popular DEVs
Within the global directed energy weapons market, the highest revenue was generated by high energy lasers (HEL). The segment is followed by the high-powered microwave (HPM) weapons segment. Both segments are expected to witness rapid growth in the near future.
In terms of deployment, the global directed energy weapons market was dominated by naval weaponry in 2014. Non-lethal weaponry led the market in the weapon type segmentation of the global directed energy weapons market.
North America Leads Global Directed Energy Weapons Market
From a geographical perspective, North America dominated the global directed energy weapons market in 2013, when it took up over 50% of the global market’s revenue. The key factor responsible for the region’s lead is the growing need for superior riot control tactics. Another reason is the growing demand for advanced weapons from naval, land, and air-based systems.
In terms of growth, Asia Pacific is set to experience the fastest CAGR in the global directed energy weapons market, of 25.8% from 2014 to 2020.
The top players in the global directed energy weapons market are Rafael Advanced Systems, Moog Inc., Boeing Corporation, Raytheon Missile Systems, L-3 Integrated Optical Systems, Lockheed Martin, and BAE Systems Plc. With most of the top players situated in North America and Europe, the majority of innovations in the global directed energy weapons market can be witnessed here.
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