According to the latest report by IMARC Group, titled "Directed Energy Weapons Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026," the global directed energy weapons market size grew at a CAGR of around 24% during 2015-2020. Directed energy weapons are ranged weapons that employ a beam of concentrated electromagnetic energy for their functioning. They consist of laser, microwave and particle beams to produce highly focused energy, which further aids in demolishing their target. They can be operated at high speeds to allow them to cause disruptive effects to facilities, vehicles, personnel and equipment in an efficient manner. They are extremely precise as they conveniently target fast-moving objects, making them a preferred choice over conventional munitions. They also offer numerous other advantages, such as unlimited magazine, noise-free functioning, and multiple target area coverage, due to which they are extensively installed in aircraft, land vehicles, unmanned vehicles (UMVs), and military ships.
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
Global Directed Energy Weapons Market Trends:
The global market is primarily driven by the increasing incidences of geographical conflicts and terror attacks across the globe. This has impelled the governments of various countries to increase their defense budgets and implement numerous effective counter-terrorism measures. Consequently, this has contributed to a rise in the uptake of advanced military devices for combat applications and improving national security, thereby catalyzing the demand for directed energy weapons on the global level. Along with this, there has also been a considerable rise in the threats from hypersonic weapons, particularly missiles, in several geographical locations. Directed energy weapons are increasingly being used in these areas for effective missile destruction during its trajectory. The market is further driven by the escalating need to protect civilians against chemical, biological, radiological and nuclear (CBRN) emergencies across the globe. Moreover, numerous key players are increasingly investing in the integration of directed energy weapons with certain military-based drones and UAVs that are anticipated to offer long-range precision targeting while working remotely, which is expected to provide an impetus to the market growth. Some of the other factors driving the growth of the market include the rising need for weapons employing laser technology in the navy and the advent of high-energy laser (HEL) power to intercept cruise missiles. On account of the aforementioned factors, the market is expected to witness robust growth during 2021-2026.
- On the basis of the type, the market has been bifurcated into lethal and non-lethal.
- Based on the application, the market has been divided into homeland security and defense.
- On the basis of the technology, the market has been classified into high energy laser (chemical laser, fiber laser, free electron laser, and solid -state laser), high power microwave and particle beam.
- Based on the end use, the market has been segmented into ship based, land vehicles, airborne and gun shot.
- On the geographical front, the market has been segregated into North America (the United States and Canada), Europe (Germany, France, the United Kingdom, Italy, Spain, Russia and others), Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia and others), Latin America (Brazil, Mexico and others), and Middle East and Africa.
- The competitive landscape of the market has been studied in the report with the detailed profiles of the key players. Some of these players include Applied Companies, BAE Systems Plc, L3harris Technologies Inc., Lockheed Martin Corporation, Moog Inc., Northrop Grumman Corporation, Qinetiq Group PLC, Raytheon Technologies Corporation, Rheinmetall Aktiengesellschaft, Textron Inc., and The Boeing Company.
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