Albany - NY, Sept. 27, 2016 (GLOBE NEWSWIRE) -- A new featured study, titled “Directed Energy Weapons Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2020”, from Transparency Market Research (TMR) offers key insights into the market. According to the report, the global directed energy weapons market will expand at an impressive 20.80% CAGR during the forecast period from 2014 to 2020. In 2013, the global directed energy weapons market was worth more than US$1.4 bn and by 2020, the market is projected to be worth over US$5.2 bn.
The global directed energy weapons (DEW) market is driven by the increasing demand for high-precision weapons facilitating the needs of armed troops during warfare and reducing collateral damage, preventing the loss of civilian lives. The possible usage of directed energy weapons to prevent missile attacks by targeting, tracking, and eliminating the missiles effectively from a safe distance will also propel the market. The growing number of R&D initiatives undertaken by several government and non-government organizations will also boost the global directed energy weapons market. Other drivers of the global directed energy weapons market are the growing efforts for prevention of insurgency and support for anti-terrorism operations and growing demand for weaponry for crowd control.
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Nevertheless, the global directed energy weapons (DEW) market will be suppressed by the rising defense budget cuts observed around the world. Moreover, the influence of humanitarian groups against the use of such weapons will also challenge the global directed energy weapons market. According to technology, the global directed energy weapons market is divided into high energy lasers, high power microwaves, and particle beams. The segment of high energy lasers (HEL) led the global directed energy weapons market in 2014, followed by high power microwaves (HPM).
By deployment, the global directed energy weapons market is segmented into naval, land-based, and airborne. The segment of naval DEW is projected to expand at the highest CAGR of 22.0% during the forecasting horizon.According to weapon type, the global directed energy weapons market is classified into non-lethal and lethal. The non-lethal directed energy weapons segment is expected to expand at a remarkable 22.40% CAGR during the forecast period.
Land Based Directed Energy Weapons to Witness Considerable Demand
Airborne, land based, and naval are the three deployment types of directed energy weapons. Of these, land based directed energy weapons are expected to take up 43.5% of the global market value by 2020. This leading share in the market is a result of the growing number of land based programs currently being offered and under development. These include the Active Denial System, the WB-1 Microwave directed energy weapons, and the iron beam. Countries have already committed to building land based directed energy weapons that are extremely efficient, deadly, and accurate, further boosting the scope of growth that directed energy weapons manufacturers can get in land based deployment.
The top manufacturers of directed energy weapons from a global standpoint include BAE Systems Plc, Lockheed Martin, L-3 Integrated Optical Systems, Raytheon Missile Systems, The Boeing Corporation, Moog Inc., Textron Inc., and Rafael Advanced Systems.
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Key Segments of the Global Directed Energy Weapons Market
Global Directed Energy Weapons Market, 2014 - 2020: By Technology
- High Energy Lasers
- High Power Microwaves
- Particle Beams
Global Directed Energy Weapons Market, 2014 - 2020: By Deployment
- Airborne
- Land Based
- Naval
Global Directed Energy Weapons Market, 2014 - 2020: By Weapon Type
- Lethal
- Non-Lethal
About TMR
Transparency Market Research (TMR) is a global market intelligence company providing business information reports and services. The company’s exclusive blend of quantitative forecasting and trend analysis provides forward-looking insight for thousands of decision makers. TMR’s experienced team of analysts, researchers, and consultants use proprietary data sources and various tools and techniques to gather and analyze information.