Global Electromagnetic Weapons Market Platform, Key Players, Technology, Growth Rate, Size, Share, Demands and Forecasts to 2026

The electromagnetic weapons market is valued at USD 509 million in 2021 and is projected to reach USD 1,282 million by 2026 at a CAGR of 20.3%. The key drivers propelling the growth of the global electromagnetic weapons market is the defense of terrorist attacks, chemical, biological, radiological, and nuclear materials so that civilian lives and the national security of a country can be preserved. Electromagnetic weapons like particle beam weapons, high power microwaves, and rail guns are being used to defend against attacks from threats like ballistic missiles, anti-satellite weapons, and nuclear weapons, etc. The Asia Pacific region will dominate the market due to the growing investments in electromagnetic weapons solutions.

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The electromagnetic weapons market includes major players Lockheed Martin Corporation (US), Raytheon technologies (US), Northrop Grumman Corporation (US), Honeywell International (US), Thales Group (France), Rheinmetall AG (Germany), BAE Systems (UK), Elbit Systems (Israel) and QinetiQ Group (US) and others. These players have spread their business across various countries includes North America, Europe, and Asia Pacific.
“Based on product type, the lethal weapons segment is projected to grow at the highest CAGR during the forecast period.

These lethal products, mainly focused for military application, include rail gun, electromagnetic bombs (e-bombs), plasma cannon (electrothermal accelerator), microwave gun, navy laser cannon, gun-launched guided projectile, automatic shotguns, and several others. Huge investments are being made in the R&D as well as demonstration and testing of lethal electromagnetic weapons
“Based on platform, the Naval platform segment is projected to grow at the highest CAGR during the forecast period. “

Naval electromagnetic weapons systems consist of weapons that are used in naval applications, for instance, on combat ships and submarines, among others. The naval segment is further divided into combat ships, submarines, and unmanned surface vehicles. Defense ships are specifically designed for use by coast guards and naval forces to ensure the security of water borders.

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“The North American region is estimated to account for the largest share of the electromagnetic weapons market in 2021”
The electromagnetic weapons market in the North American region is expected to witness substantial growth during the forecast period, owing to increased investments in electromagnetic weapons technologies by countries in this region. Department of defense of the US and Canada are involved in the development of technologically advanced electromagnetic weapons platforms such as high energy lasers and high-power microwaves, which drives the market growth. Well-established and prominent manufacturers of electromagnetic weapons systems in this region include Lockheed Martin (US), Northrop Grumman (US), and Raytheon (US).

The break-up of the profiles of primary participants in the electromagnetic weapons market is as follows:
• By Company Type: Tier 1 - 35%; Tier 2 - 25%; and Tier 3 - 40%
• By Designation: Managers - 40%; CXOs - 35%; and Executive- 25%
• By Region: North America - 15%; Europe - 30%; Asia Pacific - 35%, Rest of the World - 20%
Major players in the electromagnetic weapons market are Lockheed Martin Corporation (US), Raytheon technologies (US), Northrop Grumman Corporation (US), Honeywell International (US), Thales Group (France), Rheinmetall AG (Germany), BAE Systems (UK), Elbit Systems (Israel) and QinetiQ Group (US) and others.

Research Coverage
This market study covers the electromagnetic weapons market across various segments and subsegments. It aims at estimating the size and growth potential of this market across different segments based on application, platform, technology, and region. This study also includes an in-depth competitive analysis of the key players in the market, along with their company profiles, key observations related to their product and business offerings, recent developments undertaken by them, and key market strategies adopted by them.

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Reasons to Buy this Report
This report is expected to help market leaders/new entrants by providing them the closest approximations of the revenue numbers for the overall electromagnetic weapons market and its segments. This study is also expected to provide region wise information about the applications wherein electromagnetic weapons solutions are used. It also aims at helping the stakeholders understand the competitive landscape of the market, gain insights to improve the position of their businesses and plan suitable go-to-market strategies. This report is also expected to help them understand the pulse of the market and provide them with information on key drivers, restraints, challenges, and opportunities influencing the growth of the electromagnetic weapons market.

The report provides insights on the following pointers:
• Market Penetration: Comprehensive information on electromagnetic weapons products/ solutions offered by the top players in the market
• Product Development/Innovation: Detailed insights on upcoming technologies, research & development activities, and new product launches in the electromagnetic weapons market
• Market Development: Comprehensive information about lucrative markets – the report analyses the electromagnetic weapons market across varied regions
• Market Diversification: Exhaustive information about new products, untapped geographies, recent developments, and investments in the electromagnetic weapons market
• Competitive Assessment: In-depth assessment of market shares, growth strategies, products, and manufacturing capabilities of leading players in the electromagnetic weapons market

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This release was published on openPR.