PUBLISHER: The Business Research Company | PRODUCT CODE: 1391161
PUBLISHER: The Business Research Company | PRODUCT CODE: 1391161
“Directed Energy Weapons Global Market Report 2024 ” from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on directed energy weapons market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for directed energy weapons? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? “The directed energy weapons market global report ” from The Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
Directed energy weapons are systems that employ energy directly to disable, harm, or destroy enemy facilities, equipment, and troops. These weapons utilize technologies that focus electromagnetic energy or generate atomic or subatomic particles. High-powered radio frequency or microwave devices, charged or neutral particle beam weapons, and high-energy lasers are examples of directed energy weapons.
These weapons can be classified into two main types such as lethal weapons and non-lethal weapons. Lethal weapons encompass firearms or devices capable of causing significant physical harm or death, including nuclear weapons, rifles, submarines, and others. The technologies involved in lethal directed energy weapons include high-energy lasers, high-power microwave systems, electromagnetic devices, and sonic technologies. These weapons are deployed by land, airborne, and naval military and defense forces.
The directed energy weapons market research report is one of a series of new reports from The Business Research Company that provides directed energy weapons market statistics, including directed energy weapons industry global market size, regional shares, competitors with a directed energy weapons market share, detailed directed energy weapons market segments, market trends and opportunities, and any further data you may need to thrive in the directed energy weapons industry. This directed energy weapons market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The directed energy weapons market size has grown exponentially in recent years. It will grow from $5.69 billion in 2023 to $7.13 billion in 2024 at a compound annual growth rate (CAGR) of 25.3%. The growth in the historic period can be attributed to emerging threats and security challenges, military modernization, increased defense budgets, geopolitical tensions, and the rising need for protection against drones and missiles. Additionally, the development of non-lethal directed energy weapons for crowd control contributed to the historical growth of this technology.
The directed energy weapons market size is expected to see exponential growth in the next few years. It will grow to $16.79 billion in 2028 at a compound annual growth rate (CAGR) of 23.9%. The growth in the forecast period can be attributed to the increasing emphasis on cybersecurity and electromagnetic spectrum protection, the expanding use of non-lethal applications in civilian contexts, the growing defense against hypersonic threats, the expansion of the commercial and civilian market, and the focus on energy efficiency and cost reduction in directed energy weapons. Major trends expected in the forecast period include the development of international arms control agreements, continuous technological innovations, the emergence of innovative solutions, strategic partnerships, and advancements in energy weapon technologies.
The directed energy weapons market is experiencing growth driven by increasing modernization and investment in military platforms. Globally, there is a competition for power that necessitates modernization and heightened investment in military and defense. Countries strive to maintain their positions and compete with rivals by adopting advanced weaponry, including directed energy weapons. In April 2023, the Stockholm International Peace Research Institute reported a record-high world military expenditure of $2,240 billion in 2022, marking a 3.7% increase in real terms compared to the previous year. Notably, the top three spenders-United States, China, and Russia-accounted for 56% of the total, with the United States leading with a budget of $877 billion, representing 39% of the global military spending. Such significant investments in military and defense are poised to propel the directed energy weapons market.
The growth of terrorist activities is anticipated to further boost the directed energy weapons market. Directed energy weapons provide a precise and rapid means to counteract terrorist threats, offering the ability to disable threats while minimizing collateral damage and enhancing overall security measures. According to the Center for Strategic and International Studies (CSIS), there was a 47% increase in terrorist acts and conspiracies in the United States in 2020 and a 53% increase in 2021. Notably, in 2021, 43% of all attacks related to domestic terrorism targeted government entities, armed forces, and law enforcement. The rising occurrence of terrorist activities is a significant driver for the growth of the directed energy weapons market.
Technological advancement, particularly the integration of artificial intelligence, is a prominent trend in the directed energy weapons market. Major companies in the sector are focusing on developing weapons equipped with artificial intelligence to enable comprehensive networking of command, control, and communication for advanced weapons like hypersonic weapons. In June 2022, Chinese military researchers claimed to have developed artificial intelligence technology capable of predicting the trajectory of hypersonic glide missiles, enhancing the efficiency and capabilities of such weapons. This trend underlines the importance of technological advancements in shaping the landscape of directed energy weapons.
Major players in the directed energy weapons market are strategically forming partnerships to drive revenue growth and enhance their market presence. These collaborations provide opportunities for directed energy weapons firms to access complementary technologies, expand their market reach, and foster innovation, thereby gaining a competitive advantage. An example of this strategic approach is evident in the collaboration between BAE Systems PLC, a UK-based security and aerospace company, and Thales UK, a UK-based aerospace and defense company. This collaboration, known as Project Tracey, was established in 2023 with the aim of developing the Laser Directed Energy Weapon (LDEW) capability as part of the UK Ministry of Defence's Novel Weapons Program. The project focuses on creating and testing advanced prototypes for the Royal Navy, including user trials on a Type 23 frigate starting in 2023. The LDEW system is designed for detecting, tracking, engaging, and defending against Unmanned Aerial Vehicles (UAVs). The consortium leading the laser technology aspect of this initiative includes BAE Systems, Chess Dynamics, Vision4CE, and IPG. BAE Systems will support Thales UK as the platform and combat system integrator, leveraging their expertise in synthetic training, modeling, combat systems, and platform integration to position the Royal Navy at the forefront of operational integration of these innovative weapons.
In May 2021, Byrna Technologies Inc., a US-based non-lethal defense technology company, executed the acquisition of Kore Outdoor Inc., a Canada-based company specializing in manufacturing non-lethal weapons, for an undisclosed amount. This strategic acquisition allows Byrna Technologies to expand its portfolio in the non-lethal weapons business. The acquisition supports the continued production of Byrna Technologies' existing range of launchers during the transition period, showcasing how strategic partnerships and acquisitions contribute to the growth and diversification of companies operating in the directed energy weapons market.
Major companies operating in the directed energy weapons market include Lockheed Martin Corporation, Northrop Grumman Corporation, Raytheon Company, Boeing Co., BAE Systems PLC, L3Harris Technologies Inc., Rheinmetall AG, Thales Group, Leonardo S.p.A., Missile and Missile Systems activities of Aerospatiale-Matra, QinetiQ, General Atomics, Rafael Advanced Defense Systems Ltd., Dynetics Inc., Kord Technologies Inc., Applied Research Associates Inc., BlueHalo LLC, EaglePicher Technologies, Radiance Technologies Inc., Saab AB, Textron Inc., Moog Inc., Elbit Systems Ltd., Honeywell International Inc., Kratos Defense & Security Solutions Inc., Orbital ATK, Photonis Technologies SAS, Poly Plasma Inc.
North America was the largest region in the directed energy weapons market share in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in directed energy weapons market analysis report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
The countries covered in the directed energy weapons market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
The directed energy weapons market consists of sales of particle beam and plasma. Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.