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CHICAGO, June 2, 2021 /PRNewswire/ -- According to a research report
"Directed Energy Weapons Market by Technology (High energy lasers, High-power microwave, electromagnetic weapon technology, Sonic weapon technology), Platform (Land, Airborne, naval, Space), Application, Range, Product and Region - Forecast to 2026", published by MarketsandMarkets™
, the Directed Energy Weapon Market is valued at USD 4.3 billion in 2021 and is projected to reach USD 10.1 billion by 2026 at a CAGR of 18.7%.
The key drivers propelling growth of the global directed energy weapons market is the defense of terrorist attacks, chemical, biological, radiological, and nuclear materials so that civilian lives and national security of a country can be preserved. Directed energy weapons like lasers, high power microwaves, and electromagnetic weapons are being used to defend against attacks from threats like ballistic missiles, anti-satellite weapons, and nuclear weapons, etc. The directed energy weapons market is developing further as the concept of management evolves and new institutions and protocols are introduced. This requires a strong partnership between governments and private players which is expected to be witnessed during the forecast period. Apart from encouraging public and private sector cooperation to deal with the threats posed by terrorist attacks, these are also expected to lead to an increase in the coordination of efforts among nations to deal with new kinds of threats. The new emerging security scenarios across the globe are trans-national in nature and warrant a unified approach among nations. Industries having a global presence and undergoing partnerships with local and international directed energy weapons industry participants and governments are expected to benefit in this highly competitive business environment. Companies wanting to grow in this market must be able to track the various trends with respect to the threats and technologies needed to tackle these and provide complete solutions, which include directed energy weapons and related equipment.