North America Directed Energy Weapons Market Forecast 2018-2026
KEY FINDINGS The North American directed energy weapons market is estimated at $3204 million in 2017. Between the forecast years of 2018-2026, the market is expected to exhibit a CAGR of 24.79%.
MARKET INSIGHTS In North America, the directed energy weapons are used in defence activities such as ground-based air defence against the aerial targets or are deployed for medium-range, short-range and long-range strategic missions. The increased defence spending aimed towards the development of directed energy weapons, deployment of the SHIELD program and implementation of the Directed Energy Weapon Systems Acquisition Act in 2016 together are expected to boost the United States directed energy weapon market’s growth. Similarly, the recurrent terrorist attacks in Canada are expected to boost the deployment of laser-based directed energy weapons for precisely hitting down the terrorist targets. Furthermore, according to the 2015 Journal of Military and Strategic Studies (JMSS), the Canadian Navy aims to use laser-based directed energy weapons to successfully battle the rising threat of pirates on the high seas. All such initiatives are significantly expected to drive the overall North American directed energy weapons market growth.
COMPETITIVE INSIGHTS Companies like The Boeing Company, Rheinmetall Ag, Bae Systems, L-3 Brashear, Northrop Grumman Corporation, Textron Inc, Raytheon Company, Lockheed Martin Corporation, Moog Inc and several other prominent players are engaged in this market.