Directed Energy Weapons Market to reach USD 17.43 billion by 2029 | L3Harris Technologies, Northrop Grumman Corporation, QinetiQ

The global directed energy weapons market size is anticipated to witness exponential growth in the forthcoming years. The directed energy weapon (DEW) system utilizes directed energy like laser, particle beams, high-power microwaves, etc., to damage or destroy enemy equipment, personnel, and facilities. Fortune Business Insights™ has presented this information in an upcoming report titled, "Directed Energy Weapons Market, 2021-2028".

The directed energy weapons (DEW) market is rapidly growing due to advancements in technology and increasing demand from military and defense agencies worldwide. These weapons use high-energy electromagnetic radiation or particle beams to destroy or incapacitate targets, offering several advantages over traditional weapons. The market is expected to see significant growth in the coming years due to rising global tensions, increased military spending, and the development of new and innovative directed energy weapons.

COVID-19 Impact-

The global health crisis has contracted the growth of several industries and markets. The economies which were flourishing are now facing an unprecedented crisis. The dynamics of industries have changed drastically as standard operating procedures and protocols have turned irrelevant. Shrunken revenues and lower productions can be witnessed due to lockdowns, curfews, and social distancing norms. However, the negative impact of the COVID-19 crisis is expected to gradually fade away as economies are trying to wade their way through the pandemic. It is uncertain to say how long the situation may persist this way. Nonetheless, our research report's in-depth analysis will help you gain an exhaustive understanding of this niche market.

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Segmentation-

On the basis of technology, the market segments into particle beam weapons, high power microwave technology, and high energy laser technology. On the basis of its application, the market bifurcates into homeland security and defense. On the basis of products, the market fragments into lethal weapons and non-lethal weapons. On the basis of its end-user, the market trifurcates into airborne, land, and ship-based directory energy weapons. Geographically, the market is categorized into North America, Europe, Asia Pacific, The Middle East, and the Rest of the World.

Key Players in the Directed Energy Weapons Market:

L3Harris Technologies Inc.
Lockheed Martin Corporation
Raytheon Technologies Corporation
BAE Systems
Boeing
Moog Inc.
QinetiQ
Northrop Grumman Corporation
Report Coverage-

The report is developed using bottom-up and top-down approaches for an exhaustive study of the market. The report contains information gathered through interviews with multiple stakeholders at regional, country, and global levels. The report also encompasses PESTLE Analysis and Porters' Five Forces Analysis for an infallible prediction of the prospected market. The report also highlights the competitive landscape of the DEW market, including the information on rankings of key players, key market trends, recent industry developments, etc.

Drivers & Restraints-

Spiraling Demand of Laser Weapons to Bolster Market Growth

Rising investments to modernize and enhance the defense infrastructure are expected to drive the market for DEWs. The increasing adoption of DEW for its application on drones and unmanned aerial vehicles is expected to act as a growth stimulant. The growth is further expected to be augmented by the spiraling demand for advanced solutions like high-power lasers and high-power microwave weapons. The increasing R&D activities for developing advanced DEWs are also likely to flourish in the market in the forthcoming years.

However, DEWs incur high production costs, and the numerous industry regulations for developing DEWs are expected to impede the market growth.

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Regional Insights-

North America to Retain Dominance in Global Market

Rising R&D activities and the rising acquisition of modern laser systems for defense and military sectors are expected to help North America gain the largest chunk in global directed energy weapons market share. The key players like Lockheed Martin Corporation, L3Harris Technologies Inc, etc., are also expected to play a vital role in future market growth.

Increasing cross-border conflicts, terrorist activities, etc., in countries like India, South Korea, and China are expected to stimulate market growth in Asia Pacific. The swelling defense expenditure from these countries is expected to significantly drive market growth.

The rising defense budget in countries like Germany, France, The U.K., etc., and the key players like BAE Systems, Rheinmetall AG, QinetiQ, etc., are expected to help Europe witness considerable market growth in the forthcoming years.

The Middle East anticipates moderate growth due to the increasing expenditure for strengthening the defense sector by countries like Saudi Arabia, Israel, Turkey, etc.

The Rest of the World is expected to witness considerable growth due to the dynamic warfare nature and increasing demand for top-class weapons in the region.

Competitive Landscape-

Strategic Alliances and Product Innovations to Augment Future Market Growth

The global DEW market is fairly fragmented with regional and global players. Key players worldwide are strategizing to stay at the top of the game. For instance, Lockheed Martin Corporation signed a contract with Air Force Research Lab in November 2017. The USD 26.3 million deal consists of its Self-protect High Energy Laser Demonstrator (SHiELD) program for the design, production, and development of a high-power fiber laser channeled energy weapon for fighter aircraft.

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Industry Developments-

September 2020: Lockheed Martin Corporation displayed its next-gen laser weapon solution, which is intended to change modern warfare operations. The laser is still under trial and expected to be launched by 2025.
August 2019: Raytheon Technologies and Northrop Grumman signed a contract with the U.S. Army to develop a 50-kilowatt class laser weapon for Stryker combat vehicles.

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This release was published on openPR.