The Directed Energy Weapons Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
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According to The Business Research Company’s Directed Energy Weapons Global Market Report 2024, 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 and defense budgets, geopolitical tensions, increased protection against drones and missiles, and non-lethal crowd control.
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 cybersecurity and electromagnetic spectrum protection, increasing non-lethal civilian applications, increasing defense against hypersonic threats, commercial and civilian market expansion, and energy efficiency and cost reduction. Major trends in the forecast period include international arms control agreements, technological innovations, innovative solutions, strategic partnerships, and advancements in energy weapon technologies.
The rising modernization and investment in military platforms drive the directed energy weapons market. A war for power is going on globally, which needs modernization and increased investment in military and defense. Every country wants to remain in power and compete with its competitors, so they are adopting advanced and modern weapons, such as directed energy weapons. For instance, in April 2023, according to the Stockholm International Peace Research Institute, a Sweden-based specialized institute, world military expenditure reached a new record high of $2,240 billion in 2022, which is an increase of 3.7% in real terms compared to 2021. The top three spenders in 2022 were the United States, China, and Russia, accounting for 56% of the world total. The United States remained the world’s largest military spender, with a budget of $877 billion, which was 39% of the total global military spending. Therefore, such investments in military and defense will propel the directed energy weapons market.
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The directed energy weapons market covered in this report is segmented –
1) By Product: Lethal Weapons, Non-Lethal Weapons
2) By Technology: High Energy Laser, High Power Microwave, Electromagnetic Weapons, Sonic Weapons
3) By End-User: Land, Airborne, Naval
Technological advancement is a key trend gaining popularity in the directed energy weapons market. The major companies operating in the directed energy weapons market focus on developing weapons integrated with artificial intelligence. Artificial intelligence will enable systems for comprehensive networking of command, control, and communication for weapons like hypersonic weapons. For instance, in June 2022, Chinese military researchers claimed to have created artificial intelligence technology that can predict a hypersonic glide missile’s trajectory as it closes in on a target at a speed greater than five times the speed of sound.
The directed energy weapons market report table of contents includes:
1. Executive Summary
2. Directed Energy Weapons Market Characteristics
3. Directed Energy Weapons Market Trends And Strategies
4. Directed Energy Weapons Market – Macro Economic Scenario
5. Global Directed Energy Weapons Market Size and Growth
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26. South America Directed Energy Weapons Market
27. Brazil Directed Energy Weapons Market
28. Middle East Directed Energy Weapons Market
29. Africa Directed Energy Weapons Market
30. Directed Energy Weapons Market Competitive Landscape And Company Profiles
Top Major Players:
- Lockheed Martin Corporation
- Northrop Grumman Corporation
- Raytheon Company
- Boeing Co
- BAE Systems PLC
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