Directed Energy Weapons Market 2022 | Industry Outlook, Size, Share and Growth Analysis

According to Precision Business Insights (PBI), the latest report, the market value of the directed energy weapons market size is expected to be valued at USD 4,564.8 million in 2022 and is expected to grow at a CAGR of 19.1% in 2022-2028. The primary factors that drive the market are increasing funding in research and developmental events to introduce technologically advanced products, growing upgradation in military stages and apparatus, and an increasing number of investment agendas and plans for development.

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Non-Lethal Weapons to Dominate the Directed Energy Weapons Market:
Based on product type, non-lethal weapons hold the highest market share. The major factor for the rise of this segment is the exceptional physical properties of alkali halide. The demand for non-lethal weapons has increased due to their innovative features and capabilities to control situations such as riots without causing losses. The increasing possibility for the growth of the non-lethal weapons segment has helped in rising the budgetary expenditures for military applications and has also made huge funding in research & development actions possible. These factors can drive the global Directed Energy Weapons market growth.

Asia Pacific Directed Energy Weapons Market:
Asia Pacific region is expected to grow significantly in the global directed energy weapons market over the forecast period. The Asia Pacific region is expanding as a result of increasing demand for directed energy weapons and fast development in the economy. Apart from this, growing security threats from the neighboring countries and a rise in border disagreements have contributed to the growth of this market in these regions. The military budget of China, Japan, and India has been growing in current years due to the rising probability of being battered by terrorist attacks.

Strategic New Product Launches, Mergers, Acquisitions, and Agreements are the key strategies adopted by market players:
The global Directed Energy Weapons market further reveals that the key players are implementing strategies such as the extension of product collection through research and development activities, product launches, acquisitions, mergers, and strategic alliances to improve their market position and strengthen the market revenue share. In January 2021, Rheinmetall announced to build of a high-energy laser weapon system for the German Navy.

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The directed energy weapons market is segmented based on, product type, technology type, application, platform, and region.
Based on the product type, the market is segmented into the following:
• Lethal Weapons
• Non-Lethal Weapons

Based on the technology type, the market is segmented into the following:
• High Energy Laser
• High-Power Microwave
• Electromagnetic Weapons
• Sonic Weapons

Based on the application type, the market is segmented into the following:
• Homeland Security
• Military

Based on the platform, the market is segmented into the following:
• Land
• Airborne
• Naval
• Space

Based on the region, the market is segmented into the following:
• North America
• Europe
• Asia Pacific
• Latin America
• Middle East & Africa

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Key players' profiles in the directed energy weapons market report are Lockheed Martin Corporation. (US), Raytheon Technologies Corporation (US), Northrop Grumman Corporation. (US), Boeing (US), BAE systems (UK), L3Harris Technologies, Inc. (US), MBDA (France), Moog Inc. (US), Applied Companies. (US), and Textron Inc. (US).

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