NEW YORK, Feb. 15, 2016 /PRNewswire/ -- This report studies the directed energy weapons market during the forecast period of 2015 to 2020. The 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.
The DEW market comprises a few large players and several small players. Technological advancements, availability of new products, and evolving industry standards are propelling the growth of this market. New product launches was the key growth strategies adopted by players in the DEW market. This strategy was employed by players to widen and strengthen their product portfolio. Acquisitions and collaborations, agreements, and partnerships were other key areas of focus for market players.
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.).
Reasons to Buy the Report:
The report will enrich both established firms as well as new entrants/smaller firms to gauge the pulse of the market and garner a greater market share. Firms purchasing the report could use any one or a combination of the below-mentioned strategies for strengthening their market shares.
The report provides insights on the following pointers:
- New Product Launches: Comprehensive information on the product portfolios offered by top players in the DEW market
- Acquisitions: Detailed insights on the acquisitions undertaken by the players in the market and their impacts
- Collaborations, Agreements, and Partnerships: Comprehensive information about collaborations, agreements, and partnerships undertaken by players in the market and their objectives
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