Directed Energy Weapons Market Worth $ 10.1 Billion By 2026
CHICAGO, June 2, 2021 / PRNewswire / – According to a research report “Technology-driven energy weapons market (high-energy lasers, high-power microwaves, electromagnetic weapons technology, sonic weapons technology), platform (ground, airborne, naval, space), application, scope , product and region – forecast until 2026 “, published by MarketsandMarkets ™, the directed energy weapons market is valued at $ 4.3 billion in 2021 and should reach $ 10.1 billion by 2026 to a CAGR of 18.7%.
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The main drivers for the growth of the global directed energy weapons market are defense against terrorist attacks, chemical, biological, radiological and nuclear materials so that the civilian lives and national security of a country can be preserved. Directed energy weapons like lasers, high power microwaves, and electromagnetic weapons are used to defend against attacks from threats like ballistic missiles, anti-satellite weapons and nuclear weapons, etc. Directed energy weapons market is further developing as a management concept. evolves and new institutions and protocols are introduced. This requires a strong partnership between governments and private actors which should be observed over the forecast period. In addition to encouraging the cooperation of the public and private sectors to deal with the threats posed by terrorist attacks, these should also lead to an increase in the coordination of efforts between nations to deal with new types of threats. New security scenarios emerging across the world are transnational in nature and warrant a unified approach among nations. Industries with a global presence and partnering with local and international participants and governments of the directed energy weapons industry stand to benefit from this highly competitive business environment. Companies wishing to expand in this market need to be able to keep up with the different trends regarding threats and technologies needed to deal with them and provide complete solutions, which include directed energy weapons and related equipment.
The market for directed energy weapons is driven by the increase in political dissent and separatist movements to be prevented. High power microwave lasers have the ability to destroy targets directly or indirectly and can also target personnel or equipment not visible due to climatic conditions. High power microwave lasers use electromagnetic waves that can be carried across multiple platforms; these can either be integrated into cruise missiles, warheads and unmanned aircraft, or installed on a fixed platform. DEWs are used to destroy, damage or disable specific targets and depending on this can be high or low power.
The Research Development Test and Evaluation (RDT & E) program for the development and militarization of directed energy systems attracts huge investments for homeland security and defense applications. The program is also responsible for the development of defensive and offensive energy technologies, which are necessary to characterize and exploit vulnerabilities and protect against threats or attacks.
The Directed Energy Weapons market is diverse and competitive, with the majority of players in the North American and European regions. The market is dominated by companies based on their core competencies. The main players in this market are Lockheed Martin (US), Northrop Grumman (US), Boeing (US), L3Harris (US), Raytheon (US) and BAE Systems (UK ).
On the basis of product type, lethal weapons segment is expected to grow at the highest CAGR during the forecast period.
These deadly products, mainly focused on military applications, include rail cannon, electromagnetic bombs (electron bombs), plasma cannon (electrothermal accelerator), microwave cannon, plasma grenade, laser cannon, navy, pistol-guided projectile, automatic shotguns and many others. Huge investments are being made in R&D as well as in the demonstration and testing of lethal directed energy weapons.
On a platform basis, the Naval Platforms segment is expected to grow at the highest CAGR during the forecast period.
Naval directed energy weapon systems consist of weapons that are used in naval applications, for example, on combat ships and submarines, among others. The naval segment is divided into combat ships, submarines and unmanned surface vehicles. Defense vessels are specially designed for use by coast guards and naval forces to ensure the security of maritime borders.
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On the basis of technology, the high energy laser technology segment is expected to grow at the highest CAGR during the forecast period.
On the basis of technology, the high energy laser segment is expected to account for a share of 59.4% in 2021. This segment is expected to grow at a CAGR of 19.06% during the forecast period. This growth can be attributed to the ease of installation and low power consumption of high energy laser weapons. Compared to conventional ammunition, they have almost zero flight time, which allows for longer decision time and faster reaction time.
The Directed Energy Weapons Market in Asia Pacific is expected to grow at the highest CAGR from 2021 to 2026.
Asia Pacific contributed 22.49% to the directed energy weapons market in 2021. China, India, Japan, Australia, South Korea, and the rest of Asia Pacific have been taken into account in the Asia Pacific directed energy weapons market. The demand for the directed energy weapons market has increased in recent years, owing to rapid economic development and increasing security threats, through Asia Pacific region and the increase in border disputes. The military spending of China, Japan, and India has increased in recent years due to the increased possibilities of being the target of terrorist attacks.
This report includes a study on marketing and development strategies, as well as product portfolios of leading companies. It consists of profiles of leading companies, such as Lockheed Martin Corporation (US), Raytheon technologies (US), Northrop Grumman Corporation (US), The Boeing Company (US), Thales Group (France), Leonardo SPA (Italy), BAE Systems (UK), Elbit Systems (Israel) and L3Harris Technologies (United States).
Military Laser Systems Market by Technology (Fiber Laser, Semiconductor, Chemical Laser, CO2 Laser, Semiconductor Laser), Application (Defense, Homeland Security), Product Type – Forecast and Analysis to 2020
Smart Weapons Market by Product (Missiles, Ammunition, Guided Projectile, Guided Rocket, Guided Firearms), Platform (Air, Land, Naval), Technology (Laser, Infrared, Radar, GPS, Others) and Region – Forecast worldwide until 2021
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