The global directed energy weapons market, accelerating it at a 25.49% CAGR during the forecast period of 2019-2027
LONDON, Jan. 16, 2019 /PRNewswire/ -- KEY FINDINGS
Rising demand for laser weapons systems, the transition from conventional to urban warfare and global increase in the demand for non-lethal weapons are expected to drive the growth in the global directed energy weapons market, accelerating it at a 25.49% CAGR during the forecast period of 2019-2027. Growing threats of criminals or extremists demands for the transition from conventional warfare to non-lethal or urban warfare whose advancements offer a significant number of methods for combating the criminal activity.
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MARKET INSIGHTS
The global directed energy weapons market is segmented on the basis of applications, products, end-users and technology.The market finds its application in defense and homeland security.
The directed energy weapon market's products are classified as either lethal or non-lethal.The end-users for this market can be airborne, water-based, guns and terrestrial vehicles, while the technology segment includes high power microwave, high energy laser and particle beam.
The adoption of high energy laser technology, high power microwave and particle beam technology in the directed energy weapons system will be offering lucrative growth opportunity for the market over the forecasting years.
REGIONAL INSIGHTS
Regionally, the global directed energy weapons market is segmented into Asia-Pacific, Europe, North America and the Rest of World.While North America is expected to generate the highest revenue share, it is the Asia Pacific market that is expected to register the highest growth rate by the end of the forecast period.
Growing terrorist attacks and an increased defense budget is propelling several governments in the APAC to invest in this market. On the same line, several defense organizations in the U.S are propelling the growth of the North American directed energy weapons market. A large number of concentrated manufacturers, research & development funding and the awareness about non-lethal weapons in the North American region are responsible for the market growth.
COMPETITIVE INSIGHTS
Bae Systems PLC, Textron Inc., QinetiQ Group PLC, Moog Inc., Rheinmetall AG, L-3 Brashear, Lockheed Martin Corporation, Raytheon Company, Northrop Grumman Corporation and the Boeing Company are the prominent players in the global directed energy weapons market.
Companies mentioned
1. BAE SYSTEMS PLC
2. L-3 BRASHEAR
3. LOCKHEED MARTIN CORPORATION
4. MOOG INC.
5. NORTHROP GRUMMAN CORPORATION
6. QINETIQ GROUP PLC
7. RHEINMETALL AG
8. TEXTRON INC.
9. THE BOEING COMPANY
10. THE RAYTHEON COMPANY
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