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Technology thesis · Defence & Aerospace

medium conviction emerging

Directed energy weapons

Directed energy is now fielded, not demonstrated: Israel's Iron Beam went operational in December 2025 as the UK and US race lasers and microwaves to sea, yet power and weather still cap the magazine.

Position maintained continuously · last reviewed Jun 24, 2026

The thesis

State of the art (2026)

Directed energy crossed from demonstrator to fielded weapon in late 2025. On 28 December 2025 Rafael delivered the first operational Iron Beam (100 kW) high-power laser to the IDF, making Israel the first country to field a laser for intercepting rockets, mortars and drones alongside Iron Dome. The UK followed: a 316M MBDA UK contract in November 2025 accelerated DragonFire (50 kW) towards deployment on Royal Navy Type 45 destroyers by 2027. The US Navys 60 kW HELIOS on USS Preble downed four drones in an at-sea demonstration disclosed in January 2026 but remains developmental. High-power microwave for counter-swarm matured in parallel, with Epirus winning a 43.5M US Army RCCTO award in July 2025 for two Gen II Leonidas systems. Power, thermal management and atmospheric attenuation in rain and dust remain the unsolved limits.

Core thesis

A single Patriot interceptor costs roughly $4M; a laser shot costs a few dollars. That economics finally reached the field: Israel's Iron Beam (Rafael, ~100 kW) was delivered operational to the IDF in December 2025, the first laser to intercept rockets, mortars and drones in service. The US Navy's 60 kW HELIOS on USS Preble downed four drones at sea in early 2026 but stays an R&D asset, and the UK's DragonFire heads for Royal Navy Type 45 destroyers. The unsolved limits remain power generation, thermal management and atmospheric attenuation from rain, dust and smoke, plus single-target dwell. Ideal for drone-swarm defence.

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Signal stack

Evidence stacked leading → lagging

8 signals
talent
research
patent
expert
operational
market

Technology-native KPIs

Metrics that predict trajectory, tracked over time

4 tracked
Global DEW Market Size
US DoD DEW Budget
Deployed Laser Weapon Systems
Cost per Shot vs Kinetic Interceptor

Landscape map

Who builds what — and who depends on whom

126 players · 6 layers

Catalyst calendar

Dated events that will move the position

3 ahead

Technology roadmap

Milestones on the path to maturity

7 milestones

Watchlists

Companies, people and papers — each with a remove-by condition

20 · 20
Companies · 20
People · 20

Decision frameworks

The same call, framed for your desk

Locked
Public Equity
PE / VC
Corporate Leader

Thesis changelog

When our view changed, and why

5 updates

Change our mind

3 disconfirming conditions

The rest is inside

You've read the verdict. The file is much deeper.

The full signal stack, technology-native KPIs tracked over time, the landscape of who depends on whom, the dated catalyst calendar, decision frameworks for every desk, live watchlists and the changelog of every time our call on Directed energy weapons has changed — all live inside CanaryIQ.