Pune, India, Dec. 06, 2022 (GLOBE NEWSWIRE) -- The global directed energy weapons market size was valued at USD 8.54 billion in 2021. The market is projected to grow from USD 9.24 billion in 2022 to USD 17.43 billion by 2029, exhibiting a CAGR of 9.48% during the forecast period.
This information is provided by Fortune Business Insights, in its report titled, “Directed Energy Weapons Market, 2022-2029.”
COVID-19 Impacts:
Average Market Growth During the Pandemic Was Driven by High Development Costs and Lack of Significant Budgetary Allocation
The COVID-19 pandemic's effects caused the global market to expand on average over the study period. This development is the result of worldwide high-energy laser technology programmers’ modernization and technological advancements over the course of history. However, the global expenditure allotted by nations to combat the raging pandemic throughout 2020–2021 had been impacted by the pandemic.
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List of Key Players Mentioned in the Report:
- Diehl Defense GmbH & Co. KG (Germany)
- Elbit Systems Ltd. (Israel)
- Honeywell International Inc. (U.S.)
- II-VI Inc. (U.S.)
- BAE Systems Plc (U.K.)
- Kord Technologies (U.S.)
- L3Harris Technologies Inc. (U.S.)
- Leonardo S.p.A. (Italy)
- Lockheed Martin Corporation (U.S.)
- Northrop Grumman Corporation (U.S.)
- Rafael Advanced Defense Systems Ltd.
- Raytheon Technologies Corporation (U.S.)
- Rheinmetall AG (Germany)
- Thales Group (France)
- The Boeing Company (U.S.)
| Report Attribute | Details |
| Market Size in 2022 | USD 9.24 Billion |
| 2029 Value Projection | USD 17.43 Billion |
| Growth Rate | CAGR 9.48% 2022-2029 |
| Base Year | 2021 |
| Historical Data for | 2018 - 2020 |
| Forecast Period | 2022 - 2029 |
| Segments Covered | By Technology, By Lethality, and Platform |
| Growth Driver | Directed Energy Weapons' High Demand and Adoption Rate Will Fuel the Market Growth |
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Russia-Ukraine War Impact
Increase in Military Operational Requirements Due to Conflict in Russia and Ukraine to Spur Market Growth
The conflict between Russia and Ukraine has had seismic effects, including a refugee crisis, sanctions against Russia, a shift in the geopolitical landscape, and a reenergized NATO. Global investments and defense spending on hypersonic and directed energy weapons are rising as a result of the Russia-Ukraine War as nations attempt to protect themselves from a variety of perceived threats.
Segments:
High Energy Laser to Record Heightened Demand Due to Burgeoning Operational Requirement by Armed Forces Worldwide
By technology, the market is divided into high energy laser technology, high power microwave technology, particle beam weapons, plasma weapons, and sonic weapons.
High Adoption Rate of Lethal DEW Across All Platforms to Drive Segmental Market Growth
Based on lethality, the market is classified into lethal and non-lethal. Lethal segment is estimated to be the largest segment with the directed energy weapons market share in 2021.
Rise in R&D Investment in Airborne Directed Energy Weapons to Aid Segmental Market Growth
By platform, the market is classified into land-based DEW, airborne-based DEW, ship-based DEW, and space-based DEW. The land-based DEW segment is considered the largest segment with market share in 2021 and during the forecast period.
Rise in Utility of Non-Lethal DEWs to Drive Directed Energy Weapons Market Growth During the Forecast Period
By application, the market is divided into defense and homeland security. Defense segment is considered the largest segment. It is anticipated to be the fastest-growing segment during the forecast period.
Based on region, the global DEW market is divided into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.
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https://www.fortunebusinessinsights.com/directed-energy-weapons-market-104063
Report Coverage:
The report offers valuable insights obtained by thorough study done by our researchers. Extensive research was conducted to provide the estimated size of the market. The data used to project the shares for multiple segments at the country, regional, and global levels is obtained from in-depth interviews with numerous stakeholders.
Drivers and Restraints:
Directed Energy Weapons' High Demand and Adoption Rate Will Fuel the Market Growth
The U.S. Department of Defense claims that DEW can do little to no damage to nearby or in the line-of-sight physical structures. For urban combat, skirmishes, or powerful air defense systems, this characteristic best suits them. The U.S. CRS Report claims that the U.S. Army's Directed Energy Weapons Programs, which are related to weapons, are in a promising stage.
Regional Insights:
North America to Lead Backed by Major Federal Budget
North America dominated the DEW market in 2021, and it is anticipated that this region will grow at the quickest rate during the forecast period. A significant portion of the federal budget is set aside for modern electronic warfare weaponry that can be used for land, sea, and air defense applications.
During the projection period, Europe is anticipated to have the second-largest market for DEW. On land, at sea, and in the air, member states of the European Union have made investments in the most recent high-energy laser technology.
The market in Asia Pacific is predicted to expand at the greatest CAGR throughout the projection period. The expansion is linked to the exploding R&D expenditure in the technological capabilities for directed energy by international and regional market participants.
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Detailed Table of Content:
- Introduction
- Research Scope
- Market Segmentation
- Research Methodology
- Definitions and Assumptions
- Executive Summary
- Market Dynamics
- Market Drivers
- Market Restraints
- Market Opportunities
- Key Insights
- Key Industry Developments – Key Contracts & Agreements, Mergers, Acquisitions, and Partnerships
- Latest Technological Advancements
- Porter’s Five Forces Analysis
- Supply Chain Analysis
- Quantitative Insights - Impact of the COVID-19 Pandemic and Russia-Ukraine War on Global Directed Energy Weapons Market
- Impact of the COVID-19 Pandemic on Global Directed Energy Weapons Market
- Impact of Russia-Ukraine War on Global Directed Energy Weapons Market
- Global Directed Energy Weapons Market Analysis, Insights and Forecast, 2018-2029
- Key Findings / Definitions
- Market Analysis, Insights, and Forecast – By Technology
- High Energy Laser Technology
- High Power Microwave Technology
- Particle Beam Weapons
- Plasma Weapons
- Sonic Weapons
- Market Analysis, Insights, and Forecast – By Lethality
- Lethal
- Non-Lethal
- Market Analysis, Insights, and Forecast – By Platform
- Land-Based DEW
- Airborne-Based DEW
- Ship-Based DEW
- Space-Based DEW
- Market Analysis, Insights, and Forecast – By Application
- Defense
- Homeland Security
- Market Analysis, Insights, and Forecast – By Region
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
TOC Continued…
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Competitive Landscape:
Important Business-related Announcements by Key Players to Influence Market Dynamics
Fundamental companies in the market often make crucial announcements regarding some business moves, which, in turn, affect the market either positively or negatively. Players acquire companies, launch new products, engage in partnership deals, sign contracts with government organizations, and so on.
Key Industry Development:
April 2022: In conjunction with the Israeli Ministry of Defense, Rafael Advanced Defense Systems Ltd. stated that it had finished a number of user trials testing the laser directed energy interception system demonstrator against complicated threat scenarios.
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