Kenneth Research has recently added a report titled Directed Energy Weapons market in its storehouse of market research reports. The report provides a detailed insight into the market scenario on the basis of the market size and volume for the forecast period, i.e., 2021-2024. Directed Energy Weapons market is further anticipated to grow with a CAGR of 25.4% during the forecast period. Factors such as the growing advancements in the development of novel drugs, coupled with the growing health infrastructure in several nations worldwide are anticipated to drive the growth of the market in the coming years. Moreover, increasing expenditure on healthcare, backed by the need amongst individuals for quality healthcare services, is also anticipated to contribute to the market growth. According to the statistics by the World Bank, the current health expenditure (% of GDP) around the world increased from 9.08% in 2001 to 9.84% in 2018. Additionally, the current health expenditure per capita (current US$) increased from USD 492.99 in 2001 to USD 1110.84 in 2018. Moreover, growing concern for deaths caused due to various diseases and the need for treatment that can lower the crude death rate, which in the year 2019 recorded close to 7% (per 1000 people), are also anticipated to drive the market growth during the forecast period.
“Final Report will add the analysis of the impact of COVID-19 on this industry.”
Global Directed Energy Weapons Market is estimated to reach $48.5 billion by 2024; growing at a CAGR of 25.4% from 2016 to 2024. Directed energy weapons are having capability of selecting targets which are distinct, and can destroy it at a speed of light. Change in warfare nature in the worldwide environment, growing demand of lethal and precise weapons, and high investment for weapon improvement globally are expected to boost the growth of the market during the coming years. Various technology based weapons such as high-power microwave, high energy laser, and particle beam are having applications in defense and homeland security.
Major factors driving the global directed energy weapons market are need for accuracy of weapons, legal impacts of DEWs, and requirement of laser weapons particularly in navy. However, insufficient testing facilities may hamper the market growth. Furthermore, technological developments in DEWs would unfold with numerous growth opportunities in the forecasted years.
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Major segments in the global directed energy weapons market are technology, weapon type, deployment, and geography. The technology segment comprises high power microwave, high energy laser, and particle beam. Moreover, by weapon type, the market is categorized as lethal weapons, and non-lethal weapons. Deployment includes land based, airborne, and naval. Geographically, the global directed energy weapons market is categorized into North America, Europe, Asia Pacific, and Rest of the World (RoW).
North America is further bifurcated into U.S., Canada, and Mexico whereas Europe segment consist of UK, Russia, France, Italy, Germany, and Rest of Europe. Asia-Pacific is segmented into China, India, Japan, and Rest of Asia Pacific while RoW is bifurcated into South America, Middle East, and Africa.
The major players competing in the market are Rafael Advanced Defense Systems Ltd., Lockheed Martin, Northrop Grumman, The Boeing Company, Raytheon Company, BAE systems, L-3 Technologies, Qinetiq Group PLC, General Dynamics Corporation, Kratos Defense & Security Solutions, Inc., and L-3 Technologies, among others.
The key takeaways from the report
The report will provide detailed analysis of Directed Energy Weapons Market with respect to major segments such as technology, weapon type, and deployment
The report will include the qualitative and quantitative analysis with market estimation over 2015 – 2024 and compound annual growth rate (CAGR) between 2016 and 2024
Comprehensive analysis of market dynamics including factors and opportunities will be provided in the report
An exhaustive regional analysis of Directed Energy Weapons Market has been included in the report
Profile of the key players in the Directed Energy Weapons Market will be provided, which include key financials, product & services, new developments and business strategies
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Scope of the Global Directed Energy Weapons Market
High Power Microwave
High Energy Laser
Weapon Type Segments
Rest of Europe
Rest of Asia Pacific
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