Directed Energy Weapons Market register to grow at a CAGR of 21.5 % from 2022 to 2028
Posted by kartik joshi on October 6th, 2022
Directed Energy Weapons Market is expected to grow at a CAGR of 21.5% from 2022 to 2028 to reach US$ 5,737.45 Million by 2028.
A few of the major players operating in the directed energy weapons market are Lockheed Martin Corporation, Thales Group, L3Harris Technologies, Elbit Systems, Raytheon Technologies Inc, BAE Systems Plc, Moog Inc, Honeywell Aerospace Inc, Boeing, and Rheinmetall AG. Many other players such as Cilas (Ariane Group), Leonardo SpA, General Atomics, Vision4CE, IPG Photonics, Epirus Inc., EDGE Group, Aselsan, MBDA, Kratos, etc. have also been analyzed during the study to get a better and holistic view of the directed energy weapons market. Organic and inorganic growth strategies adopted by these companies to expand their product portfolio and global presence are expected to contribute to the directed energy weapons market growth.
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Weapons that emit a constant force and transmit an energy force to a target are called directed energy weapons (DEWs). The directed energy weapons market is dedicated to producing lethal and nonlethal powerful beams. Lasers are the most advanced type of DEWs; hence, the development of laser weapons is relatively higher than other weapon technologies such as the microwave and particle beam. Military forces primarily use nonlethal directed energy weapons. Governments of various countries purchase or manufacture DEWs to protect civilian lives and provide national security against terrorist, chemical, biological, radioactive, and nuclear attacks; this factor drives the directed energy weapons market growth. Directed energy weapons such as high-power microwaves, lasers, and electromagnetic weapons are used as countermeasures against threats that include ballistic missiles, anti-satellites, and nuclear weapons. Directed energy weapons offer a cheap, fast, and highly accurate method of countering airborne threats compared to using expensive missiles to destroy mid-level threats such as small drones.
The directed energy weapon market across the globe comprises different manufacturers. The end-users of directed energy weapons include defense aircraft manufacturers, naval ships, ground vehicle manufacturers, and defense forces. Since directed energy weapons are among the emerging technology in the defense industry, the demand for the same is high. About the higher demand, several well-known defense contractors have ventured into the market. The presence of many suppliers of directed energy weapons has been raising the bargaining power of buyers. Over the years, as the number of end users rises, the bargaining power of buyers is anticipated to rise.
The North American region has intense penetration of advanced military weapon systems offering precision, high-power, and long-range. Asia Pacific is expected to grow at the fastest CAGR over the forecast period. On the other hand, the Asian market witnesses growing investment in directed energy weapons due to increased border tension between nations such as India and China. The two counties have enormous military strength and invest extensively in the manufacturing and procuring of advanced military weapons. Therefore, the adoption of directed energy weapons to counter aerial attacks, including UAVs, bombs, rockets, missiles, and others, is rising. China is one of the major countries with a significant market share in the directed energy weapons market driven by increasing investment in domestic manufacturing. European countries such as Russia, Italy, France, and others are investing huge capital in strengthening military weapon systems, driving the market growth.
The top five companies in the directed energy weapons market are Lockheed Martin Corporation, Rheinmetall AG, Raytheon Technologies Corporation, Thales Group, and L3Harris Technologies, Inc. The above listing of key players is derived by considering factors such as overall market insights, dynamic trends, revenue, current general aviation portfolio, new product launches, market initiatives, investment in technology up-gradation, mergers & acquisitions, and other joint activities. A few of the important market initiatives and product developments from the industry are mentioned below:
2022 North America
Raytheon Technologies announced that the US Army conducted an operational test with the company's Raytheon/Kord 50kW-class high-energy laser integrated on a Stryker combat vehicle. This assessment was conducted at White Sands Missile Range in New Mexico.
2022 North America
Lockheed Martin delivered its 60-plus-kW high scalable energy laser with integrated optical dazzler and surveillance (HELIOS) to US Navy. The high-energy laser will be tested on the destroyer Preble in 2023.
Thales Group received two contracts from the UK Ministry of Defense. The company will lead two UK consortia to manufacture and trial advanced demonstrators with the British Army and the Royal Navy as part of OD’s Novel Weapons Programme.
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Joined: September 27th, 2022
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