Directed energy weapons transfer energy to a target without the means of projectile. Apart from military operations, the directed weapon technology is often also used to disable moving jet skis, cars and drones. The technological advancements and rising awareness about safety and security of the nations are said to be the major driving factors for the growth of the directed energy weapon market. The industry is aiming at steady growth during the next few years. Growth in demand from Asia Pacific and other emerging regions are expected to create greater business opportunities for the industry. As a result, businesses from across the world are looking for expansions across different emerging sections of the global market.
Scope of Research
In order to understand the industry details, experts study all the components of a market. Careful analysis of these components helps them figure out more about the latest industry trends, drivers, challenges, threats, competitors, and growth prospects for the existing companies in the market. The global directed energy weapon market is segmented on the basis of the technologies, products, their applications and geographic demands.
On the basis of technology, the industry is categorized into high energy laser (HEL), particle beam devices, high power microwave (HPM), fiber laser, chemical laser, and free electron laser (FEL). The products segment of the industry is segmented into non-lethal and lethal weapons. Applications of these weapons mainly include in the homeland security and aerospace and defense segments. Geographic segments of the industry include Europe, North America, Middle East, Latin America, and Asia Pacific.
Driving Factors and Forecasts
The global directed energy weapon market is strongly driven by the rising demand, which coincides with the technological advancements in the market. Changing nature of the modern day warfare and rising need for weapon precision also play a crucial role in the current condition of the global industry. According to the latest analysis, the high energy laser weapons are expected to dominate the global market. The advantages of these weapons include their long range engagement, effectiveness against fast targets, visual damage assets and precise targeting. These factors are working towards rising demand for HEL weapons.
Rising demand from emerging market is expected to be a huge relief for the global industry. As per the experts, increasing investments, changing approach towards military budgets and technological advancements in the existing weapons will be the major industry drivers. According to the latest market research reports, the global directed energy weapon market is poised to grow at a high CAGR to reach past $18.42 billion by 2020. Along with the developed regions like North America, the market for directed energy weapons is also expected to witness healthy growth across emerging markets.