The directed energy weapons market is expected to grow from USD 6.87 billion in 2016 to USD 24.45 billion by 2021, at a CAGR of 28.90% from 2016 to 2021. The growth of the market is expected to be driven by several factors, such as increasing demand of laser weapons in naval forces, change in nature of warfare from conventional to urban warfare, and increasing demand for non-lethal deterrents, among others. However, high cost of development of directed energy weapons and susceptibility to degradation by environment may restrain the growth of the market in the coming years.
"Lethal segment to witness higher growth during the forecast period"
The key products considered in the directed energy weapons market are lethal and non-lethal weapons. The lethal segment is expected to witness higher growth, owing to increased investments for the development of lethal weapons to enhance the efficiency and effectiveness of military operations, globally.
"North America dominates; Asia-Pacific to witness highest growth in the directed energy weapons market"
North America dominated the directed energy weapons market in 2015. The U.S. is the largest developer and exporter of directed energy weapons, globally, which has resulted in North America contributing the largest share to the directed energy weapons market.
The market in Asia-Pacific is projected to witness highest growth during the forecast period. This rapid growth of the directed energy weapons market in the region can be attributed to the fact that several countries in Asia-Pacific, including China, India, Japan, and South Korea have initiated programs for the development of directed energy weapons. With the rapid advancements and adoption of technologies in the region, the directed energy weapons market in the Asia-Pacific is projected to grow significantly during the forecast period (2016 to 2021).
"Break-up of profile of primary participants for the directed energy weapons market"
- By Company Type - Tier 1 – 45 %, Tier 2 – 35% and Tier 3 – 20% - By Designation – C Level –50%, Director Level – 35%, Others – 15% - By Region – North America - 44%, Europe – 35%, APAC – 15%, RoW – 6%
The companies profiled in the report include Lockheed Martin (U.S.), The Raytheon Company (U.S.), Northrop Grumman Corporation (U.S.), Boeing Company (U.S.), and BAE systems (U.K.), among others.
The directed energy weapons market has been segmented based on product (lethal, non-lethal), application (defense, homeland security), HEL systems (solid-state laser, chemical laser, free electron laser, fiber laser), end user (airborne, land vehicles, gun shot, ship-based) and region (North America, Europe, Asia-Pacific, Middle East, Latin America, Africa).
Reasons to Buy the Report:
From an insight perspective, this research report has focused on various levels of analysis, including industry analysis (industry trends and technology trends), market share analysis of top players, supply chain analysis, and company profiles, which analyzes the competitive landscape of the players operational in the market; emerging and high-growth segments of the directed energy weapons market; high-growth regions and countries and their respective regulatory policies; government initiatives; and market drivers, restraints, and opportunities.
The report provides insights on the following pointers:
- Market Penetration: Comprehensive information on directed energy weapons offered by the top 10 players in the directed energy weapons market
- Product Development/Innovation: Detailed insights on upcoming technologies, research & development activities, and new product launches in the directed energy weapons market
- Market Development: Comprehensive information about lucrative emerging markets - the report analyses the markets for directed energy weapons across regions
- Market Diversification: Exhaustive information about new products, untapped geographies, recent developments, and investments in the directed energy weapons market
Competitive Assessment: In-depth assessment of market shares, strategies, products, and manufacturing capabilities of the leading players in the directed energy weapons market
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To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/directed-energy-weapons-market-by-technology-hel-system-product-end-user-application-and-region---global-forecast-to-2021-300359654.html