ID: MRFR/AERO/2312-CRR | May, 2018 | Region: Global | 110 pages | Cooked Research Reports
Global Directed Energy Weapon Market Research Report Information by Platform (Airborne, Ground-based, and Naval), by Type (Lethal Weapons, and Non-Lethal Weapons), Applications (Military and Homeland Security), and by Region – Global Forecast Till 2023.
Directed energy weapon emits highly focused energy, and consists of laser, microwave, and particle beams to destroy the target. These weapons have widespread applications such as anti-personnel weapon systems and missile defense systems. Directed energy weapons are utilized to defend against chemical, biological, radiological, and nuclear emergencies so that national security can be preserved. The rise in popularity of high quality, integrated, precise, and cost-effective energy weapons by the defense forces is expected to drive the market during the forecast period. However, there are some shortcomings in operating performance of the directed energy weapon market, such as high development cost of the weapons and susceptibility to degradation by external environment.
Directed energy weapons offer a variety of advantages, such as precision, low cost per shot, and scalable effects that will be helpful across the entire spectrum of combat operations over conventional kinetic weapons. The factors responsible for the growth of directed energy weapon market are the high demand for lethal weapons, increased investment in defense, and increasing demand for laser weapons across the world. The high growth of directed energy weapon in defense application will ensures the disruptive change of warfare tactics in military. This has consequently resulted in increased R&D expenditure for the development of directed energy weapons.
The directed energy weapon market is segmented based on platform, type, application, and region. On the basis of platform, airborne is widely used and comprises the largest market share due to changing geo-political dynamics. On the basis of type, lethal weapons are expected to witness a highest CAGR during the forecast period. On the basis of application, military applications are expected to witness a highest CAGR during the forecast period. The high research and development investment, particularly in lethal weapons, is one of the key factors expected to propel the growth of the directed energy weapons market. For instance, Lockheed Martin had developed high power laser weapon systems for the U.S. navy for intelligence, surveillance, & reconnaissance and counter-unmanned aerial system capabilities. Similarly, Northrop Grumman Corporation and Rheinmetall developed directed energy systems for the U.S. Air Force and Bundeswehr, respectively.
Global Directed Energy Weapon Market, By Segmentation
The market is segmented based on region into North America, Asia Pacific, Europe, the Middle East & Africa, and South America. The North American region is expected to dominate the market in future due to technology advancements in warfare platforms and increasing defense budgets. A majority of the companies operating in the directed energy weapons market are based in the U.S. Europe is second to the North America directed energy weapon market due to rise in the military spending in countries, such as Ukraine. Asia Pacific region is the fastest growing region in directed energy weapon market due to increasing terrorism incidences and border threats. Thus, the global directed energy weapon market is estimated to witness an approximately 26% CAGR from 2017 to 2023.
The key players in the global directed energy weapon market are Lockheed Martin Corporation (U.S), Raytheon Company (U.S), Northrop Grumman Corporation (U.S), Boeing Company (U.S), BAE Systems PLC (U.K), Textron Inc. (U.S.), Rheinmetall AG (Germany), L-3 Communications Holdings, Inc. (U.S.), Moog Inc. (U.S.), and Quinetiq Group PLC. (U.S.).
The report for Global Directed Energy Weapon Market of Market Research Future comprises of extensive primary research along with the detailed analysis of qualitative as well as quantitative aspects by various industry experts, key opinion leaders to gain the deeper insight of the market and industry performance. The report gives the clear picture of current market scenario which includes historical and projected market size in terms of value and volume, technological advancement, macroeconomic and governing factors in the market. The report provides details information and strategies of the top key players in the industry. The report also gives a broad study of the different market segments and regions.