Increasing investments to develop military platforms across the world are increasing the demand for Directed Energy Weapons market globally
Market Overview
The global Directed Energy Weapons market size is projected to reach approximately USD 311.82 Billion by 2033, at a CAGR of 24.27% from 2023 to 2033. Weapons that use directed energy to assault a target are known as directed energy weapons. Directed energy is the path of least resistance, employing focused lasers, particle beams, microwaves, and sound beams to transfer and convert energy into destructive power. Its ability to focus massive amounts of energy on a target makes it ideal for destroying drones, missiles, and enemy infrastructure. This technology’s potential uses include personnel-targeting weaponry, missiles, vehicles, and optical devices.
COVID-19 Impact Analysis
The COVID-19 pandemic had no direct impact on the defense industry. However, as a result of the COVID-19 pandemic, countries’ defense investments in the development of directed energy weapons have been reduced in the short term, as governments’ priorities were shifted to the building of healthcare facilities. As the cases were increasing, they focused more on public health, and all the projects related to the defense were put on a halt so some period.
The COVID-19 pandemic had a negative impact on the economies of countries all over the world. The directed energy weapon manufacturers, including systems, subsystems, and components, had faced disruption in their supply chain and temporarily halted their production processes. Despite the importance of directed energy weapons for national integration. the level at which industrial operations are functioning, and import-export rules, among other things, all influence the resumption of manufacturing activity. While after the controllable situation, all the businesses started to continue accepting orders, but delivery timetables are not scheduled.
Market Dynamics
The Directed Energy Weapons market is growing rapidly due to the largest application area for directed energy weapons is in the defense sector. The last few years witnessed a rise in military spending by governments worldwide, which is the major reason for the growth in the market. With increased terrorist activity, countries need high-tech and highly efficient defense equipment to keep people safe. Major countries around the world are now focusing on the advancement of their military platforms as it is one of the crucial indicators for a powerful country. Furthermore, national security has now become an important element to focus on, therefore leading to the additional requirement for better military platforms. Investments from the private sector of various economies have also boomed, therefore creating considerable demand for the directed energy weapons market.
Drivers:
Ø Rapid Technological Advancements In Ai, Big Data Analytics, And Robotics Technologies
The expeditious growth of AI and advanced technology has led to the creation of arms like Directed Energy Weapons. DEWs are extremely precise as they conveniently target fast-moving objects like missiles. These weapons make them a preferred choice over conventional munitions as they have numerous other advantages. They come with an unlimited magazine and enable noise-free functioning and multiple target area coverages due to which DEW missile systems are extensively supplied for use in aircraft, land vehicles, unmanned missile launchers (UMVs), and military ships. According to the United Nations, “Technological advances are contributing to the changing nature of the conflict. There are concerns about the potential for artificial intelligence (AI) and machine learning to enhance cyber, physical, and biological attacks. For instance, by making them more finely targeted, harder to attribute, and easier for small groups perhaps even ‘lone wolf’ to carry out.”. Therefore, with progress in technology, there is a great scope for the market to grow
Restraint
- Rigid Regulation About The Development & Distribution Of Defense Products
It is important to note that DEW is a weapon and hence development and distribution of any kind of weapon has to go through rigorous regulations, testing, and certifications. Weapons development is a very volatile industry, and each country regulates it carefully to prevent it from reaching the wrong hands. On the other hand, each country also has to consider that a lack of regulation could result in the escalation of nuclear weapons which could pose a major threat to global security. These regulations can prove to be a bottleneck in the growth of the market as these can act as a barrier to the seamless distribution of these weapons across the globe that is expected to lead to accessibility issues which is a direct hindrance to the market growth.
Moreover, given that the defense industry is government-regulated, there are several regulatory changes and demands. The consumer base for these products is typically the federal government and military agencies. These customers are primarily interested in homeland security and national security – as opposed to commercial product use cases. As a result, companies might need to play by specific rules that could stifle innovation or force them to incur non-recoverable expenses to maintain compliance.
Opportunity:
- Increasing R&D Initiatives To Develop New Products
A major part of the defense budget is spent on the development of new technologies further development of arms, ammunition, defense mechanisms, and now direct attack weapons. All the major nations are spending heavily on the development of AI-based technologies such as the DEWs. Also, Governments are encouraging private companies to take the charge of furthering the development of weaponry. This indicates a great possibility of further advancements in DEW and an increase in other use cases related to commercial applications. Furthermore, the high demand for efficient and technologically advanced defense devices is on a rise because of the increase in terrorist attacks. There are many reasons behind this demand; newer opportunities are arising with the modernization of military platforms and technology which is expected to lead to the upgradation of the existing weapon systems with directed energy weapons.
Challenges:
- Extensive capital expenditure for research and development
The challenges faced by the directed energy weapons market are: the requirement of extensive capital expenditure for research and development, long-distance targeting, the technology is not mature, and the lack of a complete system for military applications.
Segment Overview
By Laser Laser Type
Based on Laser Laser Type, the global Directed Energy Weapons market has been segmented based on Fiber and chemicals. The Fiber segment is the fastest growing in the global Directed Energy Weapons market.
By Application
Based on Application, the global Directed Energy Weapons market has been segmented based on Homeland Security, and Military. The Military segment is expected to be the fastest-growing in the global Directed Energy Weapons market.
By Platform
Based on the Platform, the global Directed Energy Weapons market has been segmented based on Land, Airborne, Naval & Space. The Naval & Space segment is expected to be the largest in the global Directed Energy Weapons market.
By Product
Based on the Product, the global Directed Energy Weapons market has been segmented based on Lethal, and non-lethal weapons. The Lethal segment is expected to be the largest in the global Directed Energy Weapons market.
By Range
Based on the Range, the global Directed Energy Weapons market has been segmented based on less than 1KM, and more than 1KM. The more than 1KM segment is expected to be the largest in the global Directed Energy Weapons market.
Global Directed Energy Weapons Market Share, by Segmentation
Regional Analysis
By region, the global Directed Energy Weapons market has been divided into North America, Europe, Asia-Pacific, and the Rest of the World. The North American region holds the largest market for the Directed Energy Weapons business.
Asia-Pacific Market
The governments in the Asia-Pacific region have been promoting the directed-energy weapon market in the region to ensure the safety of their citizens. In addition to this, they have also been promoting the development of directed-energy weapons for military applications. The governments in the region are working on governmental grants and policies to help the regional market growth. The government of Japan has decided to support the energy security initiative by providing a $110 million fund to finance the deployment of directed energy weapon systems around the country. This organization is being led by the Japanese Ministry of Economy, Trade, and Industry and it aims to promote the new technology of directed energy weapon systems and to deploy them to develop a safer and more secure environment for the country. The organization hopes to install a total of 150 weapon systems in the next five years.
North America Market
The directed-energy weapons in government agencies are growing, specifically in the North American region. Directed-energy weapons are used to destroy or disable a target without causing significant damage to the surrounding area. This weapon can destroy weapons of mass destruction and nuclear facilities without causing harm to the surrounding population. Countries in North America use directed-energy weapons for military purposes. The U.S. Department of Defence and the U.S. Army have adopted directed-energy weapons to counter ballistic missiles. Directed-energy weapons are also used by other military forces in the region such as Canada and Mexico.
Competitive Landscape
The market comprises tier-1, tier-2, and local players. With their wide product portfolios, tier-1 and tier-2 players have a global reach. Because of their strategic innovations and broad regional presence, companies such as Lockheed Martin Corporation, The Boeing Company, Raytheon Technologies Corporation, Northrop Grumman Corporation, and BAE Systems, Inc., lead the global Directed Energy Weapons business. To increase their market position and attract a wide consumer base, the businesses are employing various strategies, such as growth, product releases, and alliances.
Prominent Players:
- Lockheed Martin Corporation
- The Boeing Company
- Raytheon Technologies Corporation
- Northrop Grumman Corporation
- BAE Systems, Inc.
Recent Development
- In September 2021, Thales group announced to development of a new product of directed energy weapons high-powered laser and radiofrequency weapons, and offering UK armed forces. Thales will lead two UK consortia of industry partners to build it. The laser consortium will include BAE Systems, Chess Dynamics, Vision4CE, and IPG. The other consortium members include Teledyne e2v, QinetiQ, and Horiba Mira.
- In April 2022, BAE Systems announced the development of APKWS Laser-Guided Rockets that enable warfighters to make economical, precision strikes.
Scope of the Report
Global Directed Energy Weapons Market, by Laser Type
- Fiber
- Chemical
Global Directed Energy Weapons Market, by Application
- Homeland Security
- Military
Global Directed Energy Weapons Market, by Platform
- Land
- Airborne
- Naval & Space
Global Directed Energy Weapons Market, by Product
- Lethal
- Non-lethal weapons
Global Directed Energy Weapons Market, by Range
- less than 1KM
- More than 1KM
Global Directed Energy Weapons Market, by Region
- North America
- US
- Canada
- Mexico
- Europe
- UK
- Germany
- France
- Italy
- Rest of Europe
- Asia Pacific
- China
- Japan
- South Korea
- India
- Rest of Asia Pacific
- Rest of the World
| Parameters | Indicators |
|---|---|
| Market Size | 2032: $ 311.82 Billion |
| CAGR | 24.27% CAGR (2021-2033) |
| Base year | 2022 |
| Forecast Period | 2023-2033 |
| Historical Data | 2021 |
| Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Key Segmentations | Laser Type, Application, Platform, Product, Range |
| Geographies Covered | North America, Europe, Asia-Pacific, Latin America, Middle East, Africa |
| Key Vendors | Lockheed Martin Corporation, The Boeing Company, Raytheon Technologies Corporation, Northrop Grumman Corporation, BAE Systems, Inc |
| Key Market Opportunities | UIncreasing R&D Initiatives To Develop New Products |
| Key Market Drivers | Rapid Technological Advancements In Ai, Big Data Analytics, And Robotics Technologies |
REPORT CONTENT BRIEF:
- High-level analysis of the current and future Directed Energy Weapons market trends and opportunities
- Detailed analysis of current market drivers, restraining factors, and opportunities in the future
- Directed Energy Weapons market historical market size for the year 2023, and forecast from 2023 to 2033
- Directed Energy Weapons market share analysis at each product level
- Competitor analysis with a detailed insight into its product segment, financial strength, and strategies adopted.
- Identifies key strategies adopted including product launches and developments, mergers and acquisitions, joint ventures, collaborations, and partnerships as well as funding taken and investment done, among others.
- To identify and understand the various factors involved in the global Directed Energy Weapons market affected by the pandemic
- To provide a detailed insight into the major companies operating in the market. The profiling will include the financial health of the company’s past 2-3 years with segmental and regional revenue breakup, product offering, recent developments, SWOT analysis, and key strategies.
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Frequently Asked Questions (FAQ)
- What is the study period of this market?
- The study period of the global Directed Energy Weapons market is 2023 – 2033
- What is the growth rate of the global Directed Energy Weapons market?
- The global Directed Energy Weapons market is growing at a CAGR of ~ 27% over the next 11 years
- Which region has the highest growth rate in the global Directed Energy Weapons market?
- Asia Pacific is expected to register the highest CAGR during 2022-2033
- Which region has the largest share in the global Directed Energy Weapons market?
- North America holds the largest share in 2021
- Who are the key players in the global Directed Energy Weapons market?
- Lockheed Martin Corporation, The Boeing Company, Raytheon Technologies Corporation, Northrop Grumman Corporation, and BAE Systems, Inc., are the major companies operating in the global Directed Energy Weapons
- Do you offer Post Sale Support?
- Yes, we offer 24.27 hours of analyst support to solve the queries
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- Yes, we provide regional as well as country-level reports. Other than this we also provide a sectional report. Please get in contact with our sales representatives.
