Market Research Report
Directed Energy Weapons Market by Technology (High energy lasers, High-power microwave, electromagnetic weapon technology, Sonic weapon technology), Platform (Land, Airborne, naval, Space), Application, Range, Product and Region - Forecast to 2026
|Published by||MarketsandMarkets||Product code||1009406|
|Published||Content info||244 Pages
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|Directed Energy Weapons Market by Technology (High energy lasers, High-power microwave, electromagnetic weapon technology, Sonic weapon technology), Platform (Land, Airborne, naval, Space), Application, Range, Product and Region - Forecast to 2026|
|Published: June 2, 2021||Content info: 244 Pages||
The directed energy weapon market is valued at USD 4.3 billion in 2021 and is projected to reach USD 10.1 billion by 2026 at a CAGR of 18.7%. The key drivers propelling growth of the global directed energy weapons market is the defense of terrorist attacks, chemical, biological, radiological, and nuclear materials so that civilian lives and the national security of a country can be preserved. Directed energy weapons like lasers, high power microwaves, and electromagnetic weapons are being used to defend against attacks from threats like ballistic missiles, anti-satellite weapons, and nuclear weapons, etc.
The directed energy weapon market includes major players 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 (US). These players have spread their business across various countries includes North America, Europe, and Asia Pacific.
"The military segment of the market is projected to grow at the highest CAGR from 2021 to 2026."
Based on application, the military application segment is estimated to capture the largest share of 70.78% of the total directed energy weapons market in 2021 due to the increase in demand of precise technology in lethal weapons from military forces, globally
"Based on platform, the Naval platform segment is projected 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 instance, on combat ships and submarines, among others. The naval segment is further divided into combat ships, submarines, and unmanned surface vehicles. Defense ships are specifically designed for use by coast guards and naval forces to ensure the security of water borders.
"The North American region is estimated to account for the largest share of the directed energy weapons market in 2021"
The directed energy weapons market in the North American region is expected to witness substantial growth during the forecast period, owing to increased investments in directed energy weapon technologies by countries in this region. Department of defense of the US and Canada are involved in the development of technologically advanced directed energy weapon platforms such as high energy lasers and high-power microwaves, which drives the market growth. Well-established and prominent manufacturers of directed energy weapon systems in this region include Lockheed Martin (US), Northrop Grumman (US), L3Harris Technologies, Inc. (US), and Raytheon (US).
Major players in the directed energy weapon market are 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 (US).
This market study covers the directed energy weapons market across various segments and subsegments. It aims at estimating the size and growth potential of this market across different segments based on application, platform, technology, range, and region. This study also includes an in-depth competitive analysis of the key players in the market, along with their company profiles, key observations related to their product and business offerings, recent developments undertaken by them, and key market strategies adopted by them.
Reasons to Buy this Report
This report is expected to help market leaders/new entrants by providing them the closest approximations of the revenue numbers for the overall directed energy weapon market and its segments. This study is also expected to provide region wise information about the applications wherein directed energy weapon solutions are used. It also aims at helping the stakeholders understand the competitive landscape of the market, gain insights to improve the position of their businesses and plan suitable go-to-market strategies. This report is also expected to help them understand the pulse of the market and provide them with information on key drivers, restraints, challenges, and opportunities influencing the growth of the directed energy weapon market.