Triton Market Research’s report on the Latin American directed energy weapons market illustrates that the industry is anticipated to proliferate at a CAGR of 20.99% in terms of revenue, during the forecasted period 2019-2028.
The countries reviewed in the Latin American directed energy weapons market are:
• Mexico
• Brazil
• Rest of Latin America
The directed energy weapons market in Latin America is primarily driven by the growing government programs for the development of Distant Early Warning (DEW) in countries like Brazil, Mexico, Argentina, Peru, Cuba and Chile. For example, a Regional Chemical Weapons Assistance and Protection Center for Latin America and the Caribbean is planned to be launched as a result of a joint agreement between the Regional Assistance, chemical emergency response agencies’ representatives and the Protection Exercise of member states of the Latin American and Caribbean Service Members.
The principal objective of this joint agreement is to establish skills for centralizing the Navy in Brazil and air force equipment. Border security remains to be a driving factor for the increased demand to rebuild the military and develop a local production capacity for military equipment. These factors are likely to boost the growth of the directed energy weapons market in the region in the coming years.
The military expenditure in Mexico accounted for approximately 77% of the total military spending in entire Central America and the Caribbean. About 10% of the increase was witnessed in the year 2018. The increasing defense spending in the country is estimated to aid the studied market growth.
Rheinmetall AG is a company providing automotive components and defense equipment. The company offers air defense systems, ammunition, weapons and armored tracked vehicles. It also provides C4I systems and electro-optical products & systems. It serves applications in naval, ground forces, air force and tactical law enforcement sectors. It has operations across different regions, including Latin America.
Some noteworthy companies in the directed energy weapons market are BAE Systems, Rheinmetall AG, Lockheed Martin Corporation, L3 Harris Technologies Inc, QinetiQ, Boeing, Moog Inc, Raytheon Company, Northrop Grumman Corporation, Rafael Advanced Defense Systems Ltd, MBDA, Textron Inc, and Applied Companies.