Reuters article first published July 11, 2017 ~ According to Stratistics MRC, the Global Directed Energy Weapons (DEW) market is expected to grow from $8.12 billion in 2016 to reach $41.97 billion by 2023 with a CAGR of 26.4%.
Based on product type, lethal weapons segment has observed highest growth rate as these weapons are commonly used by police, military and defence. By high energy laser systems, fiber laser segment leads the market globally and the growth of this segment is attributed to the rising demand for laser technologies and microwave-based weapons. Asia Pacific is expected to witness huge growth rate and the growth of this region is owed to the use of directed energy weapons.
Some of the key players in Global Directed Energy Weapons (DEW) market include BAE Systems PLC, Boeing Company, L-3 Communications Holdings, Inc, Lockheed Martin Corporation, Moog Inc, Northrop Grumman Corporation, Quinetiq Group PLC, Raytheon Company, Rheinmetall AG, Textron Inc, Azimuth Corporation, General Dynamics Corporation, Kratos Defense & Security Solutions, Rafael Advanced Defense Systems Ltd and MBDA.