Directed Energy Weapons Market Worth $5.73 Billion by 2028 - Exclusive Report by The Insight Partners
Directed Energy Weapons Market is growing at a CAGR of 21.5% from 2022 to 2028.
Pune, India, Nov. 03, 2023 (GLOBE NEWSWIRE) -- According to The Insight Partners, “Directed Energy Weapons Market Forecast to 2028 – COVID-19 Impact and Global Analysis – by Technology (Laser, Microwave, Particle Beam, and Others), Range (Less Than 1 Mile and More Than 1 Mile), Application (Ground, Naval, and Airborne), Platform (Armored Vehicles, Unmanned Systems, Handheld Systems, Aircraft Systems, Ships and Submarines, and Others), and Geography,” the market is expected to grow from US$ 1.78 billion in 2022 to US$ 5.73 billion by 2028; it is estimated to grow at a CAGR of 21.5% from 2022 to 2028.
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Directed Energy Weapons Market: Competitive Landscape and Key Developments
Lockheed Martin Corporation, Thales Group, L3Harris Technologies, Elbit Systems, Raytheon Technologies Inc, BAE Systems Plc, Moog Inc, Honeywell Aerospace Inc, Boeing, and Rheinmetall AG are a few of the key directed energy weapons market players profiled in the report. Several other essential directed energy weapons market players were analyzed for a holistic view of the industry and its ecosystem. The report provides detailed market insights, which can help major directed energy weapons market players strategize their growth.
In August 2022, Lockheed Martin delivered its 60-plus-kW high scalable energy laser with integrated optical dazzler and surveillance (HELIOS) to the US Navy. The high-energy laser will be tested on the destroyer Preble in 2023.
In September 2021, Thales Group received two contracts from the UK Ministry of Defense. The company is leading two consortia in the UK to manufacture and provide a trial of advanced laser weapon demonstrators with the British Army and the Royal Navy as part of the OD’s Novel Weapons Programme.
Directed Energy Weapons Market: Technology Overview
Based on technology, the directed energy weapons market is segmented into laser, microwave, particle beam, and others. The laser segment is expected to dominate the directed energy weapons market in 2022. The segment growth is attributed to high investments by a majority of the countries for the development of high-energy laser weapon systems. Such factors are catalyzing the directed energy weapons market growth.
Global Directed Energy Weapons Market Scope:
Market Size Value in USD 1.78 Billion in 2022
Market Size Value by USD 5.73 Billion by 2028
Growth rate CAGR of 21.5% from 2022 to 2028
Forecast Period 2022-2028
Base Year 2022
Segments covered Technology, Range, Application, Platform
Regional scope North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South & Central America.
Country scope Argentina, Australia, Brazil, Canada, China, France, Germany, India, Italy, Japan, Mexico, Russian Federation, Saudi Arabia, South Africa, South Korea, United Arab Emirates, United Kingdom, United States
Report coverage Revenue forecast, company ranking, competitive landscape, growth factors, and trends
Based on geography, the directed energy weapons market is primarily segmented into North America, Europe, Asia Pacific, and the Rest of the World. North America is expected to dominate with the largest directed energy weapons market share in 2022. The US is one of the most developed countries in the region, with the highest military expenditure over the years, and is expected to account for largest directed energy weapons market share in the North America region in 2022. The US Department of Defense (DoD) is also focusing on integrating directed energy weapons technology into the Ground, Naval, and Air Forces of the country. In recent years, the US government has contracted with various directed energy manufacturers such as Raytheon Technologies Corporation, Lockheed Martin Corporation, and Boeing to develop and deploy directed energy weapons. For instance, as part of the Self-Protect High Energy Laser Demonstrator (SHiELD) Advanced Technology Demonstration Program, the Air Force Research Laboratory has planned to develop new laser systems that can be mounted on aircraft and combat flights to mitigate the threat of incoming missiles. Under this program, Lockheed Martin was selected by the US Air Force in 2017 with a US$ 26.3 million contract to design and develop a fiber laser. Initially, it was tested in 2021. However, it was later announced by the Air Force Research Laboratory that it would test the fully developed system in 2024. Similarly, the US Air Force has been testing the High Energy Laser Weapon System (HELWS), mounted on military vehicles to counter drones since March 2021.
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Due to rising geopolitical tensions, there is an increase in the procurement & development of new high-energy laser weapons by developed and emerging nations. The US military is highly investing in the integration of advanced weapons systems such as high-energy laser weapons mounted on vehicles, which is driving the directed energy weapons market growth. For instance, the US military developed high-energy directed weapons in 2019 with pinpoint accuracy, making high-power lasers one of the most promising options. In 2019, the US. Air Force deployed its first HELWS developed by Raytheon Intelligence & Space. Moreover, Lockheed Martin provided a high-energy laser (HEL) to the US Navy for installation on its warships. Further, in August 2022, the US Navy secured delivery of a HEL weapon called HELIOS from defense company Lockheed Martin. Moreover, in January 2022, the US Navy's Naval Surface Warfare Center, Dahlgren Division, or NSWCDD, established a new department for developing and researching HPM-directed energy weapons.
The directed energy weapons market players have improved their product portfolios with advanced technologies, including microwave systems and long-range laser weapons. Major manufacturers are also increasingly focusing on the development of microwave directed energy weapons. For instance, the upcoming high-power Leonidas microwave weapon would be integrated into Stryker combat vehicles by General Dynamics, an American aerospace company, to improve anti-drone swarm capabilities. Then, the military services will have a fully mobile counter-electronics solution that has maximum interoperability to suit mission needs by combining the capabilities of the armored vehicle and the microwave directed-energy weapons.
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