LONDON, Nov. 8, 2016 /PRNewswire/ -- "Rising need for precision weapons and increasing demand of laser weapons in naval forces are the major factors expected to drive the growth of the directed energy weapons market in near future." The directed energy weapons market is expected to grow from USD 6.87 billion in 2016 to USD 24.45 billion by 2021, at a CAGR of 28.90% from 2016 to 2021. The growth of the market is expected to be driven by several factors, such as increasing demand of laser weapons in naval forces, change in nature of warfare from conventional to urban warfare, and increasing demand for non-lethal deterrents, among others. However, high cost of development of directed energy weapons and susceptibility to degradation by environment may restrain the growth of the market in the coming years. "Lethal segment to witness higher growth during the forecast period" The key products considered in the directed energy weapons market are lethal and non-lethal weapons. The lethal segment is expected to witness higher growth, owing to increased investments for the development of lethal weapons to enhance the efficiency and effectiveness of military operations, globally. " North America dominates; Asia-Pacific to witness highest growth in the directed energy weapons market" North America dominated the directed energy weapons market in 2015. The U.S. is the largest developer and exporter of directed energy weapons, globally, which has resulted in North America contributing the largest share to the directed energy weapons market. The market in Asia-Pacific is projected to witness highest growth during the forecast period. This rapid growth of the directed energy weapons market in the region can be attributed to the fact that several countries in Asia-Pacific, including China, India, Japan, and South Korea have initiated programs for the development of directed energy weapons. With the rapid advancements and adoption of technologies in the region, the directed energy weapons market in the Asia-Pacific is projected to grow significantly during the forecast period (2016 to 2021). "Break-up of profile of primary participants for the directed energy weapons market" - By Company Type - Tier 1 - 45 %, Tier 2 - 35% and Tier 3 - 20% - By Designation - C Level -50%, Director Level - 35%, Others - 15% - By Region - North America - 44%, Europe - 35%, APAC - 15%, RoW - 6% The companies profiled in the report include Lockheed Martin (U.S.), The Raytheon Company (U.S.), Northrop Grumman Corporation (U.S.), Boeing Company (U.S.), and BAE systems (U.K.), among others.