Global Directed Energy Weapons Market Overview
The key driver impacting the directed energy weapons market is the rise in military spending. For instance, As per the Stockholm International Peace Research Institute (SIPRI), the total global military expenditure amplified to $1917 billion in 2019. The 2019 year represents a climb of 3.6% from 2018. It is the massive annual growth in spending since 2010. The five largest spenders in 2019, which accounts for 62 percent of total worldwide expenditure, were the United States, China, India, Russia, and Saudi Arabia. Moreover, the high demand for laser weapons in naval forces globally contributes to directed energy weapons market demand in the coming years.
According to Value Market Research, the global Directed energy weapons market size was valued at around USD 6.27 Billion in 2022 and is estimated to grow at a CAGR of about 20.45% during the forecast period 2023 to 2030.
The augmented instances of terror attacks and growing focus on improving counter-terrorism measures in several nations of the world are likely to augment the demand in the forecast period. For example, the Jewish Virtual Library, International Terrorism report shows that there were 715 terrorist attacks on average, which injured 1,623 people, caused 1,563 deaths, and 745 hostages or kidnapped victims per month across the globe in 2017. Around 2.3 deaths happened, and 2.5 people got injured in every attack, which also had perpetrator casualties. These include attacks targeting “violent political parties” that engaged in terrorist attacks and electoral politics and got doubled in 2017, and attacks against tourists, which, though relatively very rare, soared by 27% in 2017. However, the high development cost may hamper the market in the long run. Also, inadequate testing facilities and strict industry regulations negatively impact the market. The current industry trends, such as the augmented deployment of UAVs, and changes in the approach to warfare with stress on lesser human loss, are expected to offer several beneficial market opportunities for the key players.
The Directed energy weapons market is vast, with many local and global players. The Directed energy weapons market is extensive, with many regional and international players. The prominent market leaders follow several strategies to improve their market status, such as extending product portfolio, acquisitions, contracts, acquisitions, amalgamation, acquisitions, product upgrades to mount their market share across the globe. The prominent players studied in the report include Raytheon Technologies Corporation (US), Northrop Grumman Corporation (US), Lockheed Martin Corporation (US), Thales Group (France), BAE Systems plc (UK), The Boeing Company (US).
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In this research report, the directed energy weapons market is segmented by technology, product, end-user, and region.
Analysis by Technology:
By technology, the report is categorized in a high energy laser, high power microwave, and particle beam by operation. The high-energy laser segment dominates the technology segment with over 40% in the forecast period. This is due to the High energy laser technology (HEL) being one of the most applicable and preferred technologies for the directed energy weapon development. Also, Ongoing research and development activities, particularly in the high energy laser systems category, contribute to the high demand for high energy laser segment growth in the forecast period.
Analysis by Product:
By product, the report is categorized into lethal and non-lethal. The non-lethal segment dominates the product segment with over 60% share in 2020. It is due to increasing political disputes and civil unrest. Moreover, the rising defense expenditure and militarization of law enforcement agencies contribute to the growth of the non-lethal segment in the forecast period.
Analysis by End-User:
By end-user, the report is categorized into ship-based, land vehicles, airborne, and gunshot. The land vehicles segment dominates the end-user segment with over 40% share in 2020. It is due to the high adoption of advanced land-based direct energy weapons by the military and defense sector. Moreover, the growing demand for land-based laser weapons from the military sector is lead to the growth of the land-based segment in the forecast period.
Analysis by Region:
In the regional outlook of the global Directed energy weapons market, the North America region dominates globally with a 30% market share in the forecast period. It is due to high technological developments in warfare platforms and collective defense budgets. Moreover, most of the companies functioning in the directed energy weapons market are U.S. based, which further improves the region's overall control, and contributes to tremendous market growth across North America.
Market Segmentation covered in the Report:
By Technology
- High Energy Laser
- High-power Radio Frequency
- Electromagnetic Weapons
- Sonic Weapons
By Application
- Homeland Security
- Military
By Platform
- Land
- Airborne
- Naval
- Space
By Range
- Less Than 1 km
- More Than 1 km
By Product
- Lethal Weapons
- Non-lethal Weapons
By Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East and Africa
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