Directed Energy Weapons Market Size Worth USD 93.20 Billion By 2027 | CAGR of 26.8% Emergen Research
- The higher emphasis on the incorporation of directed energy weapons (DEW) and extensive rise in investment in the defense & homeland security & intelligence bodies are the major factors influencing the market growth
- Market Size – USD 13.86 billion in 2019, Market Growth - CAGR of 26.8%, Market Trends – Higher demand for laser-based Directed Energy Weapons (DEW) for destroying drones & missiles
VANCOUVER, BC, Oct. 26, 2020 /PRNewswire/ -- The Global Directed Energy Weapons (DEW) Market is forecasted to be worth USD 93.20 billion by 2027, according to a current analysis by Emergen Research. The market is significantly being driven by factors such as the increasing adoption of the directed energy weapons to destroy or damage rockets, drones, mortar-launched explosives, and any other aerial threats, higher investment in the military bodies & defense intelligence sectors, and technological development in laser-based target-focused weapons.
Additionally, growing incidences of cross-border conflicts, asymmetry in warfare, a higher inclination for the forthcoming combat preparation, and the escalating number of existing weaponry technology & the need to update them into the futuristic ones are some of the subordinate reasons behind the tremendous growth of the market. The laser-based DEW anti-drone system or drone destroyers are expected to witness increased adoption in the market as more and more countries are deliberately developing & investing in high-power laser-directed energy systems to use against drones or UAVs.
The global landscape of the Directed Energy Weapons (DEW) market is expected to remain highly competitive and consolidated, consisting of a number of both small start-ups & medium enterprises and large conglomerates. During the forecast duration, increasing demand for technological development and higher diversification in offered products ensure the enormous potential for the innovative players.
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Further key findings from the report suggest
- In June 2020, Applied Technology Associates (ATA) revealed a contract for developing a target acquisition & tracking platform for the installation on a Stryker military ground vehicle being a part of the U.S. Army initiative in order to increase the protection of soldiers using laser weapon systems.
- The defense exhibits a higher count of usage and investment in the ongoing research & development of directed energy weapons (DEW). The growing interest in countering the weaponry actions & drones or UAV information carriers sent from the rivals are broadening the market outreach. The Defense sub-segment in the application segment held a 78.6% market share in the year 2019.
- North America, owing to its leading investment in the defense & homeland security budgets, especially in the United States, and higher development in the information technology & microelectronics industry, is expected to grow substantially.
- Key players in the market include The Raytheon Company, The Boeing Company, BAE Systems, Northrop Grumman Corporation, Lockheed Martin, L-3 Communications Ltd, Moog Inc, Thales Group, Saab AB, and Israel Aerospace Industries, among others.
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