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The directed energy weapons market is estimated to reach $22.2 billion by 2032, growing at a CAGR of 16.4% from 2023 to 2032.
Directed Energy Weapons Market - By platform, the airborne is anticipated to exhibit significant growth in the near future.
” - Allied Market ResearchWILMINGTON, DE, UNITED STATES, November 5, 2024 /EINPresswire / -- Allied Market Research published a report, titled, "Directed Energy Weapons Market by
technology (High Energy Laser, High Power Microwave, and Others),
platform (Land, Airborne, and Navy), and Product (Lethal, and Non-lethal): Global Opportunity Analysis and Industry Forecast, 2023–2032." According to the report, the global directed energy weapons industry generated $4.9 billion in 2022 and is anticipated to generate $22.2 billion by 2032, witnessing a CAGR of 16.4% from 2023 to 2032.
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Directed energy weapons (DEWs) are a form of weapon system that utilizes concentrated electromagnetic energy to incapacitate or eliminate targets. These weapons utilize a variety of energy sources, such as lasers and high-energy microwaves, to provide precise and targeted attacks. Additionally, DEWs are capable of delivering results almost instantaneously, as they can hit targets at a rate equivalent to light speed. DEWs also possess an unlimited ammunition capacity, provided that a power source is present. Furthermore, they are capable of providing more accurate results and have the potential to reduce collateral damage.
Prime Determinants of Growth:
The global directed energy weapons market is experiencing growth due to several factors, such as the increase in demand for directed energy weapons to achieve precise targeting and reduced collateral damage, the rise in security threats posed by terrorist organizations, and a surge in the adoption of directed energy weapons in navy. However technological limitations and ethical and health concerns hamper the growth of the market. On the contrary, technological advancements continuous research, and integration of directed energy weapons with conventional weapons are expected to offer remunerative opportunities for the expansion of the directed energy weapons market during the forecast period.
Leading Market Players in Directed Energy Weapons Industry: -
Northrop Grumman
BAE Systems
Rheinmetall AG
Thales Group
Leonardo S.p.A.
MBDA
Boeing
RTX
QinetiQ
Lockheed Martin Corporation.
The report provides a detailed analysis of these key players in the global directed energy weapons market. These players have adopted various strategies such as agreements, product upgrades, partnerships, contracts, and others to increase their market penetration and strengthen their position in the industry. The report helps determine the business performance, operating segments, developments, and product portfolios of every market player.
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Report Coverage & Details:
Report Coverage
Details
Forecast Period
2023–2032
Base Year
2022
Market Size in 2022
$4.9 Billion
Market Size in 2032
$22.2 Billion
CAGR
16.4 %
No. of Pages in Report
230
Segments Covered
Technology, Platform, Product, and Region
Drivers
Increase in demand for directed energy weapons to achieve precise targeting and reduced collateral damage
Rise in security threats posed by terrorist organizations
Surge in the adoption of directed energy weapons in navy
Opportunities
Technological limitations
Ethical and health concerns
Restraints
Technological advancements and constant research
Integration of directed energy weapons with conventional weapons
The high energy laser segment to maintain its leadership status throughout the forecast period-
Based on technology, the high energy laser segment held the highest market share in 2022, accounting for more than half of the global directed energy weapons market revenue, and is estimated to maintain its leadership status throughout the forecast period. Due to a rise in the development of high-energy laser weapons by defense companies to defense forces of various countries for aerial threats. However, the high-powered microwave segment is projected to manifest the highest CAGR of 17.3% from 2023 to 2032. Owing to the rise in the design of high-power microwave technological solutions to counter the emerging threat of drone swarms.
The land segment to maintain its leadership status throughout the forecast period-
Based on platform, the land segment held the highest market share in 2022, accounting for nearly half of the global directed energy weapons market revenue, and is estimated to maintain its leadership status throughout the forecast period. Due to a surge in the investment in the modernization of armed forces, which includes exploring cutting-edge technologies such as directed energy weapons on land platform. However, the airborne segment is projected to manifest the highest CAGR of 17.8% from 2023 to 2032. Owing to advantages such as ability to rapidly engage and neutralize threats from different angles and altitudes.
The lethal segment to maintain its lead position during the forecast period-
Based on product, the lethal segment accounted for the largest share in 2022, accounting for more than three-fifths of the global directed energy weapons market revenue, and is estimated to maintain its lead position during the forecast period. This is due to the growing demand for directed energy weapons with high accuracy, and capability to hit critical parts of a target. However, the non-lethal segment is projected to manifest the highest CAGR of 17.2% from 2023 to 2032. Owing to a rise in demand for an alternative to traditional lethal weapons that immobilize or disable vehicles, equipment, and weapons.
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North America to maintain its dominance by 2032-
Based on region, North America held the highest market share in terms of revenue in 2022, accounting for more than two-fifths of the global directed energy weapons market revenue, and is likely to dominate the market during the forecast period. This is because the defense forces of various countries invest in the research and development of directed energy weapons. However, the LAMEA region is expected to witness the fastest CAGR of 18.6% from 2023 to 2032. Owing to a rise in the demand for countering dangerous threats and modernizing armed forces with advanced capabilities.
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David Correa
Allied Market Research
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