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Global Directed Energy Weapons Market Comprehensive Study: Forecasted Market Size And Growth Rate | Lockheed Martin Corporation, Northrop Grumman Corporation, Raytheon Company
Directed Energy Weapons Market Size
The Business Research Company offers in-depth market insights through Directed Energy Weapons Global Market Report 2024, providing businesses with a competitive advantage by thoroughly analyzing the market structure, including estimates for numerous segments and sub-segments.
Market Size And Growth Forecast:
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.
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Market Segmentation:
The main types of directed energy weapons are lethal weapons and non-lethal weapons. Lethal weapons refer to firearms or devices that can cause significant physical harm or death. Lethal weapons include nuclear weapons, rifles, submarines, and others. High-energy laser, high-power microwave, electromagnetic, and sonic are technologies used. These weapons are used by land, airborne, and naval army & defense.
Major Driver - Modernization And Military Investments Fuel Directed Energy Weapons Market
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.
Competitive Landscape:
Major companies operating in the directed energy weapons market include Lockheed Martin Corporation, Northrop Grumman Corporation, Raytheon Company, Boeing Co., BAE Systems PLC, L3Harris Technologies Inc., Rheinmetall AG, Thales Group, Leonardo S.p.A., Missile and Missile Systems activities of Aérospatiale-Matra, QinetiQ, General Atomics, Rafael Advanced Defense Systems Ltd., Dynetics Inc., Kord Technologies Inc., Applied Research Associates Inc., BlueHalo LLC, EaglePicher Technologies, Radiance Technologies Inc., Saab AB, Textron Inc., Moog Inc., Elbit Systems Ltd., Honeywell International Inc., Kratos Defense & Security Solutions Inc., Orbital ATK, Photonis Technologies SAS, Poly Plasma Inc.
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Top Trend - Technological Advancement In Directed Energy Weapons Market
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 Table Of Content For The Market Report Include:
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. Directed Energy Weapons Market Size And Growth
…..
27. Directed Energy Weapons Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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