PUBLISHER: Stratistics Market Research Consulting | PRODUCT CODE: 1126502
PUBLISHER: Stratistics Market Research Consulting | PRODUCT CODE: 1126502
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According to Stratistics MRC, the Global Electromagnetic Weapons Market is accounted for $518.38 billion in 2022 and is expected to reach $1684.19billion by 2028 growing at a CAGR of 21.7% during the forecast period. E-bombs are another name for electromagnetic weapons since they have the ability to produce a powerful burst of radio waves or microwaves that can destroy any electronic circuitry or have physiological effects on those who are exposed to them. In order to send heat, mechanical, or electrical energy to a target in order to hurt or permanently harm it, electromagnetic weapons generate electromagnetic radiation. Depending on the technology, these electromagnetic weapons are frequently used against people, technological devices, and military targets.
According to the European Defence Agency (EDA) selected a nine-member consortium (including Naval Group, Nexter Systems and Diehl Defense) to develop electromagnetic rail guns. The project is expected to demonstrate rail gun in 2022 and the consortium will explore the possibility of integrating the weapon on land and naval platforms. The Department of Defense is in plans to equip the HELIOS laser defense system on Arleigh Burke-class destroyer in 2021. This laser system will replace the Rolling Airframe Missile (RAM) system. Earlier, Lockheed Martin Corporation was awarded USD 150 million to design, build, and deliver a replacement system for RAM systems by 2020.
Market Dynamics:
Driver:
Rising demand for electromagnetic weapons in combat operations
One of the most cutting-edge electromagnetic energy technologies is the quick development of high-power microwave weapons and the adoption of electromagnetic weapons to counter the threat of Unmanned Aerial Vehicles (UAVs). These weapons are being added to military systems like satellites, aircraft, mobile vehicles, and ships on a more frequent basis. Electromagnetic weapons have been studied and developed by a number of defence manufacturers and integrators during the past few decades, and they are currently becoming more operational.
Restraint:
Restrictions on anti-personnel high power microwave
International law does not have a definitive definition of electromagnetic weapons, and no multilateral institution currently in existence has electromagnetic weapons on its agenda. However, there are a number of legal systems that might cover electromagnetic weapons. The possibility of electromagnetic weapons calls into doubt a number of international legal instruments, most notably those that regulate the use of force. Some EMWs are distinguished from "lethal" weapons by being labelled as "nonlethal" or "less-lethal." One of the most contentious subjects in defence is the deployment of low-energy microwave weapon systems against people.
Opportunity:
Increase in research and development of advanced electromagnetic weapon technologies
Any nation choosing an electromagnetic weapon must take improved system reliability into consideration. A variety of defence platforms, including combat vehicles, can gather and distribute capabilities with the use of cutting-edge hardware components. To improve detection rates, these electromagnetic weapons are placed at key locations. Modern, highly accurate electromagnetic weapons have made it necessary for nations with border disputes and regional threats to rely on them in order to help safeguard their borders. Therefore, the growing R&D in advanced electromagnetic weapons technology is opening up a variety of applications in the defence industry.
Threat:
Increased barriers in designing military grade electromagnetic weapon systems
The design of electromagnetic weapon systems utilised by the military sector has become more complex, which has increased the weapon systems' complexity. The design of electromagnetic weapon systems has become more sophisticated as a result of the defence industry's demand for electromagnetic weapon system components that can perform parallel operations with less power consumption and a reduction in size and weight. On the other hand, ongoing improvements in military electronics necessitate that contemporary electromagnetic weapon systems adhere to the same design specifications. It is difficult for vendors to keep up with changing processes and technical advancements while also developing innovative and complicated designs that are acceptable for producers of military systems and equipment.
COVID-19 Impact
The COVID-19 pandemic has seriously harmed the economies of many nations throughout the world. It has also had an impact on the production of electromagnetic weapon systems, subsystems, and components. Despite the criticality and relevance of electromagnetic weapons for national integration, supply chain issues have temporarily halted their production. The extent of COVID-19 exposure, the efficiency of manufacturing processes, and import-export laws are a few of the elements that determine when manufacturing can resume. Orders may still be being accepted by businesses, but delivery dates may not yet be set.
The naval segment is expected to be the largest during the forecast period
The naval segment is estimated to have a lucrative growth, due to the rise in projects and initiatives for coastal protection. Battleships and submarines, among many other vessels, can employ naval-electromagnetic weapons. The coast guard and naval forces are the primary users of vessels and ships with armament for securing maritime border protection. The use, system design, capacity, and technologies of such ships are distinct from those of commercial ships.
The lethal weapons segment is expected to have the highest CAGR during the forecast period
The lethal weapons segment is anticipated to witness the fastest CAGR growth during the forecast period, due to the increasing investments in R&D are a major factor anticipated to fuel this market's expansion. Additionally, the increased testing and use of lethal electromagnetic weapons as well as increased use of rail guns for naval applications will fuel this market's growth in the near future. Railguns are electromagnetically-powered linear motor weapons that shoot projectiles at rapid speeds. These projectiles typically lack explosives and instead rely on their great velocity, weight, and kinetic energy to harm nearby objects.
Region with highest share:
North America is projected to hold the largest market share during the forecast period owing to the regional governments is investing more money in the development of electromagnetic weaponry. Additionally, high-tech electromagnetic weapon systems, such as high-energy lasers and high-power microwaves, are being developed by the US and Canadian defence departments.
Region with highest CAGR:
Asia Pacific is projected to have the highest CAGR over the forecast period, owing to the increased demand for electromagnetic weapons market in recent years, due to the rapid economic development and increasing security threats, across Asia-Pacific region and the increase in border disputes. The military spending of China, Japan, and India has been increasing in recent years due to increased possibilities of being targeted by terrorist attacks.
Key players in the market
Some of the key players profiled in the Electromagnetic Weapons Market include Northrop Grumma corporation, Lockheed Martin Corporation, Rafael advanced defense systems, Directed energy technologies inc., Raytheon Technologies Corporation, L3harris technologies, Qinetiq group PLC., Elbit systems LTD., General Atomics, Rheinmetall AG, Honeywell International, BAE Systems, The Boeing Company, Thales Group.
Key Developments:
In February 2021, The US Air Force awarded a contract for Raytheon's High-Energy electromagnetic Weapon System; a system designed to counter drone threats to be deployed on an unidentified combatant command base for operator training and an initial performance evaluation.
In June 2021, Northrop Grumman Corporation received an order worth USD 146 million from the US Air Force to install Large Aircraft Infrared Countermeasure (LAIRCM) systems on US and international fixed-wing and rotary-wing aircraft.
In June 2020, BAE Systems plc. Signed a contract with US Army to develop an electromagnetic rail gun. This contract allows BAE Systems Plc. to leverage our ongoing research, development, and testing to advance rail gun technologies and further develop rail gun weapon systems for Army applications, enhancing their effectiveness against multiple types of threats.
In July 2020, General Atomics Electromagnetic Systems (GA-EMS) was selected as a prime contractor for the US Army Combat Capabilities Development Command (CCDC) Aviation and Missile Center's (AvMC) Electromagnetic Guided Missile (EGM) prototype program under the Aviation and Missile Technology Consortium (AMTC). GA-EMS will develop advanced missile conceptual designs in direct support of the Multi-Domain Operations (MDO) for the Army Modernization Campaign.
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