Surging Awareness of Non-Lethal Weapons Augments the Global Directed Energy Weapons Market Growth
According to a new market research report published by Inkwood Research, the Global Directed Energy Weapons Market is anticipated to register a CAGR of 23.26% during the forecasting years of 2020-2028.
“Browse 53 Market Data Tables and 52 Figures spread over 172 Pages, along with an in-depth TOC on the Global Directed Energy Weapons Market Forecast 2020-2028.”
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Directed Energy Weapons (DEWs) is an umbrella term for all the technologies that produce highly concentrated electromagnetic particles or energy. Technological advancements are an inevitable aspect of war. The directed energy weapon system emits focused energy and can transfer it to a target that can be damaged and destroyed. The directed energy weapon system finds its applications in homeland security and defense system. It is also utilized in ground-based air defense against aerial targets and in short-range, medium-range, and long-range missions.
Growing Awareness of Non-Lethal Weapons - Prominent Driver of the Market
One of the main drivers of the global directed energy weapons market growth is the growing awareness regarding the benefits of non-lethal weapons across the globe. Such weapons are designed for incapacitating the targeted person or material while reducing the fatality or injury. The demand for non-lethal weapons is driven by the increasing budgetary expenses in the defense sector, investment from government organizations, research development activities, and increasing incidents of civil unrest. The non-lethal weapons are used for controlling crowd activities and riot situations. The primary forms of energies used are microwaves and lasers. The latest in the DEW is the Active Denial System (ADS), also called pain ray or pain beam.
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High Energy Laser – The Dominating and Fastest-Growing Category in the Technology Segment
The high energy laser aids in disrupting the vision and are used on any target, material, place, or individual. The high energy laser technology system involves the speed of light engagement of varied targets with reduced range, incurring comparatively low expenses. The key factors driving the growth of the high energy laser systems is the ongoing research and development activities. In 2017, the US Air Force Research Laboratory’s Directed Energy Directorate issued sources sought notice for the High Energy Combinable Fiber Laser Advanced Research Effort (FLARE) project. The surging demand from the defense sector further propels the demand and growth of the high energy laser technology during the forecasted years.
North America Dominates with Largest Revenue Share
The North American market region is evaluated to dominate the global market during the forecast period. The countries analyzed in the market region are the US and Canada. The factors attributed to the revenue share are the large presence of concentrated manufacturers, awareness regarding non-lethal weapons, favorable government policies and regulations, technological advancements in the products, and research & development expenditure. The region allocates high budgets for military expenditure and research and development activities with regard to innovation in the non-lethal segment. The majority of key players headquartered in the region generate their revenue from the European market region.
The companies registering their presence in the market are Northrop Grumman, Raytheon Company, BAE Systems, Boeing, Lockheed Martin, etc. The intensity of rivalry is estimated to shift from moderate to high during the forecast period. The market is assessed to be highly competitive, further supplemented by the presence of international players in the market.
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