Global Directed Energy Weapons Market Size is Projected to Reach USD 24.3 Billion by the end of 2020

Date: 2015-10-16

The directed energy weapons market size is projected to reach USD 24.3 billion by the end of 2020, at a CAGR of 23.96% from 2015 to 2020. North America is estimated to hold the largest share of the directed energy weapons market, followed by Europe. In the Middle East, this market is projected to grow at the highest CAGR of 34.12% from 2015 to 2020. This high growth rate is attributed to the rise in military expenditure and strategic relationships with Latin America.

Directed energy weapons emit focused energy on to the target at the speed of light to damage or destroy it. Hi-tech innovations as well as technological advancements are changing the nature of warfare.

DEW’s are used by the U.S. Navy in maritime operations as well as by warfighters and homeland defenders. Ongoing growth and development in this emerging area strongly highlights the changing battlefield with the introduction of DEW, lethal, and non-lethal weapons. With the proliferation of low power laser weapons, the proliferation of high power or high energy weapons is also expected in coming years.

Today’s defense forces encounter multiple challenges in diverse operating environments around the globe. The kinetic energy weapons, such as small arms, bombs, shells, missiles, and cluster munitions are costlier and ineffective to employ against asymmetric threats in opposition to DEW.

Some of the key players that are active in this market include Lockheed Martin (U.S.), Boeing (U.S.), Northrop Grumman (U.S.), Raytheon (U.S.), and BAE Systems (U.K.).

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