Global Directed Energy Weapons Market Share 2021 Estimated to be Worth USD 35,000 Million by 2026: Facts & Factors

July 01 22:17 2021
Global Directed Energy Weapons Market Share 2021 Estimated to be Worth USD 35,000 Million by 2026: Facts & Factors
According to the research report, the global Directed Energy Weapons market in 2019 was approximately USD 7,000 Million. The market is expected to grow above a CAGR of 26.0% and is anticipated to reach over USD 35,000 Million by 2026.

According to the research report, the global Directed Energy Weapons market in 2019 was approximately USD 7,000 Million. The market is expected to grow above a CAGR of 26.0% and is anticipated to reach over USD 35,000 Million by 2026.

A directed-energy weapon is a system that uses directed energy for damaging, incapacitating, disabling, or destroying the desired targets. The general application of directed-energy weapons is to target missiles, vehicles, and defense equipment. Energy transmitted from directed-energy weapons always travels at the speed of light which is far greater than present conventional weapons. Further, directed-energy weapons are not affected by wind, gravity, and other surrounding factors. A directed-energy weapon is capable of engaging in multiple targets. Directed-energy weapons function silently without getting exposed. The rollout of DEW is both quick, economical and can stream or discharge power more time than conventional weapons, which requires ammunition to be changed every time.

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Industry Major Market Players

  • Azimuth Corporation
  • BAE Systems plc
  • Battelle
  • The Boeing Company
  • General Atomics
  • General Dynamics Corporation
  • Kratos Defense & Security Solutions
  • Lockheed Martin Corporation
  • MBDA
  • Northrop Grumman Corporation
  • Thales Group
  • Raytheon Company
  • Rheinmetall AG

 

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In the last few years, military spending around the world has been increasing at a steady rate, this has increased significantly in some of the developing countries such as China, India, etc. Also, the global military and defense equipment exports have also increased significantly. Various countries are focusing on expanding their military and defense capabilities and are heavily investing in new technology, which has driven the global directed-energy weapon market. Further, growing armed conflicts and the number of civil wars in some parts of the world have also increased the demand for energy weapons for lethal and non-lethal weapons. This has also been a key growth driving factor for the global directed-energy weapon market. However, high capital requirements for the development of directed-energy weapons is likely to hamper market growth. Moreover, the lack of publically available research on directed-energy technology has restricted the development of DE technologies and their implementation in warfare.

Based on technology, the laser segment held a major share in the global directed-energy weapon market in 2019. The laser segment held a market share of nearly 75% in the global market in 2019. The adoption of laser-based directed-energy weapons is attributable to the high power transmitted by laser weapons and the accuracy of the laser-based DEW. Based on the product, the lethal segment held a major share in the global directed-energy weapon market in 20119, accounting for a market share of nearly 60% in 2019. The high investment in improving the lethality of new defense and military equipment has driven the demand for lethal DEW.

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Based on the region, the North America segment held a large share in the global directed-energy weapon market in 2019. North American directed-energy weapon market in 2019 was valued at nearly USD 1,800 million and is expected to grow at a CAGR of approximately 27% over the projected period. The U.S. has the largest defense and military spending in the world. Growth in the North American region is attributable to increasing military spending by the U.S. on expanding its military capabilities.

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This report segments the directed energy weapons market as follows:

Global Directed Energy Weapons Market: By Technology Segmentation Analysis

  • Microwave
  • Laser

 

Global Directed Energy Weapons Market: By Product Segmentation Analysis

  • Lethal
  • Non Lethal

 

Key Insights from Primary Research

  • According to our primary respondents, the global directed-energy weapon market is estimated to reach a market value of USD 35,000 million by the end of 2026.
  • The global directed-energy weapon market is expected to foresee significant growth owing to growing spending on defense and military research and development activities.
  • Our primary survey respondents also estimate that the growing demand for non-lethal weapons for controlling mob and escalation of conflicts has increased in the last few years due to the emergence of stringent human rights regulations, which is likely to drive the demand for nonlethal DEW.
  • Asia Pacific market is expected to be the fastest-growing region in the global directed energy weapons market over the forecast period owing to growing investments for defense and military R&D.
  • By geography, the North American region held a major share in the global directed energy weapons market. High military spending and the presence of key directed energy weapons manufacturers in the region has bolstered the growth in the region

 

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