Directed Energy Weapons Market accounted for US$ 2.87 billion in 2020 and is estimated to be US$ 15.15 billion by 2030 and is anticipated to register a CAGR of 18.3%. The global economic impact of the COVID-19 epidemic has been enormous. Directed energy weapons manufacture, including systems, subsystems, and components, has also been hampered. Despite the fact that directed energy weapons are critical for national integration, supply chain issues have temporarily halted production. The level of COVID-19 exposure, the level at which manufacturing operations are functioning, and import-export rules, among other things, all influence whether or not manufacturing activities can be resumed.
The report " Global Directed Energy Weapons Market, By Application (Homeland Security and Defense), By Technology (High Energy Laser, High Power Microwave, and Particle Beam), By High Energy Laser System (Fiber Laser, Free Electron Laser, Solid State Laser, and Chemical Laser), By Product (Lethal and Non-Lethal), By End-User (Ship-Based, Land Vehicles, Airborne, and Gun Shot), and By Region (North America, Europe, Asia Pacific, Latin America, Middle East, and Africa) - Trends, Analysis and Forecast till 2029’’
Key Highlights:
- MBDA was given a contract to modernise Britain's 'Dragonfire' ship laser gun in March 2021, with the goal of improving the laser gun's accuracy.
- The US Air Force deployed Raytheon's High-Energy Laser Weapon System 2 — a counter-drone system — to an unnamed combatant command post abroad in February 2021 for operator training and an initial performance review.
- In January 2021, Germany's military procurement office granted Rheinmetall a contract in the low double-digit million Euro range to manufacture, test, and field a high-energy laser weapon system for the German Navy.
- MBDA Deutschland GmbH was awarded a contract by Germany's Federal Office for Bundeswehr Equipment, Information Technology, and In-Service Support (BAAINBw) in January 2021 to build, integrate, and support testing of a laser weapon demonstration in a marine environment.
- Boeing upgraded and delivered the first batch of previously deployed Compact Laser Weapon System (CLWS) units to the US Department of Defense (DoD) customer in December 2020, enhancing the maximum beam power and reliability of the system. The remaining units will be upgraded and delivered in the first quarter of 2021, according to Boeing.
Analyst View:
Over the forecast period, the worldwide directed energy weapons market is expected to rise due to rising need for lethal and precise weapons. Over the forecast period, large investments in weapon development and demonstration are expected to boost the global market. Directed energy weapons (DEW) have the ability to pick discrete targets. They operate at light speed and can wreak havoc with employees, facilities, and equipment. A beam of acoustic energy, atomic particles, and electromagnetic energy is also emitted by such a weapon. Over the projected period, the global market is expected to be driven by the changing character of conflict in the global environment. Furthermore, directed energy weapons have the capacity to damage the target while causing the least amount of collateral damage. Hence driving the market of directed energy weapons.
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Key Market Insights from the report:
Global Directed Energy Weapons Market accounted for US$ 2.87 billion in 2020 and is estimated to be US$ 15.15 billion by 2030 and is anticipated to register a CAGR of 18.3%. Global directed energy weapon market has been segmented on the basis of application, technology, high energy laser system, product, end-user, and region.
- Based on Application, Global Directed Energy Weapons Market is segmented into Homeland Security and Defense.
- Based on Technology, Global Directed Energy Weapons Market is segmented into High Energy Laser, High Power Microwave, and Particle Beam.
- Based on High Energy Laser System, Global Directed Energy Weapons Market is segmented into Fiber Laser, Free Electron Laser, Solid State Laser, and Chemical Laser.
- Based on Product, Global Directed Energy Weapons Market is segmented into lethal and Non-Lethal.
- Based on End-User, Global Directed Energy Weapons Market is segmented into Ship-Based, Land Vehicles, Airborne, and Gun Shot.
- By Region, the Global Directed Energy Weapons Market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.
Competitive Landscape & their strategies of Global Directed Energy Weapons Market:
Key players operating in the global directed energy weapon market includes Lockheed Martin Corporation, Raytheon Company, Northrop Grumman Corporation, The Boeing Company, BAE Systems plc, L-3 Communications Corporation, Rafael Advanced Defense Systems Ltd, Applied Companies, Inc, Textron Inc, and Moog, Inc.
The market provides detailed information regarding the industrial base, productivity, strengths, manufacturers, and recent trends which will help companies enlarge the businesses and promote financial growth. Furthermore, the report exhibits dynamic factors including segments, sub-segments, regional marketplaces, competition, dominant key players, and market forecasts. In addition, the market includes recent collaborations, mergers, acquisitions, and partnerships along with regulatory frameworks across different regions impacting the market trajectory. Recent technological advances and innovations influencing the global market are included in the report.
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