The new report by Expert Market Research titled, ‘Global Directed Energy Weapons Market Size, Report and Forecast 2023-2028’, gives an in-depth analysis of the global directed energy weapons (DEW) market, assessing the market based on its segments like product types, technologies, applications, end-uses, and major regions.
The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analyzing the market based on the SWOT and Porter’s Five Forces models.
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The key highlights of the report include:
Market Overview (2018-2028)
• Historical Market Size (2021): USD 3.5 Billion
• Forecast CAGR (2023-2028): 18.48%
• Forecast Market Size (2027): USD 9.7 Billion
The rising expenditure aimed toward advancing warfare weapon systems is driving the market growth. The growing use of weapons in the military sector that reduces the chances of casualty of personnel, coupled with the increasing demand for DEWs by the commando forces to carry out anti-terrorism operations, is anticipated to propel the market growth in the forecast period.
Moreover, the market is likely to be aided by the increasing spending on chemical lasers owing to their high accuracy and damage capabilities. Geographically, North America accounts for a significant share in the market. The United States is one of the highest military spenders, and rapid technological advancements in military applications are anticipated to provide impetus to the market in the coming years.
Industry Definition and Major Segments
Directed energy weapons (DEW) refer to the type of weapons that use the force produced by an atomic or subatomic particles or a beam of concentrated electromagnetic energy to kill or injure an enemy. Directed energy weapons include sonic and ultrasonic equipment that are capable of inflicting great damage to almost any object. Moreover, this weapon system emits energy in an aimed direction instead of a projectile.
On the basis of product type, the market can be bifurcated into:
• Non- Lethal
Based on technology, the market is segmented into:
• High Energy Laser
• High Power Microwave
• Particle Beam
The market, based on application, is segmented into:
• Homeland Security
The significant end-uses of directed energy weapons (DEW) are:
• Land Vehicles
• Ship Based
The regional markets for directed energy weapons (DEW) include:
• North America
• Asia Pacific
• Latin America
• Middle East and Africa
The key trends in the market for directed energy weapons (DEW) include the increasing military expenditure of sovereign nations amidst the increasing geopolitical tensions and escalating terrorism. In addition to this, the surging international cooperation in the military sector, including the acceleration of military exercises, is likely to spearhead the demand for DEW in the forecast period.
The growing R&D activities by the major defence equipment manufacturers are likely to significantly contribute to the growth of the market. Furthermore, the increasing investments in the development of laser and frequency weapons are likely to augment the market for directed energy weapons (DEW) in the forecast period.
Key Market Players
The major players in the market are Roketsan Roket Sanayii ve Ticaret A.S., Applied Companies Corporation, BAE Systems plc, Lockheed Martin Corporation, The Boeing Company, and Raytheon Technologies Corporation, among others. The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
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