Directed Energy Weapons Market is estimated to be US$ 15.15 billion by 2030 with a CAGR of 18.30% during the forecast period-By PMI
Prophecy Market Insights latest research report on the Directed Energy Weapons Market provides a comprehensive analysis of the current market scenario, growth opportunities, challenges, and emerging trends. The report offers insights into the market’s size and share, key market players, distribution channels, and consumer preferences. It also examines the impact of the COVID-19 pandemic on the market and provides a detailed analysis of the competitive landscape, including strategic alliances, mergers, and acquisitions.
Covina, Oct. 18, 2023 (GLOBE NEWSWIRE) — Directed Energy Weapon are defined as electromagnetic systems which are capable of converting chemical, electrical energy into radiated energy. Directed Energy Weapon are used to destroy enemy equipment, facilities, personnel especially in defense and homeland security.
Growing demand for directed energy weapon from defense, air force, and naval force drives global directed energy weapon market. Further, rising demand for non-lethal deterrents, coupled with directed energy weapon changes the nature of warfare from conventional to urban warfare and rising security threats posed by terrorist organizations is expected to augment the Directed Energy Weapon market in the near future.
Directed Energy Weapons Market accounted for US$ 2.87 billion in 2020 and is estimated to be US$ 15.15 billion by 2030 and is anticipated to register a CAGR of 18.3%. Global directed energy weapon market has been segmented on the basis of application, technology, high energy laser system, product, end-user, and region.
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- Based on Application, Global Directed Energy Weapons Market is segmented into Homeland Security and Defense.
- Based on Technology, Global Directed Energy Weapons Market is segmented into High Energy Laser, High Power Microwave, and Particle Beam.
- Based on High Energy Laser System, Global Directed Energy Weapons Market is segmented into Fiber Laser, Free Electron Laser, Solid State Laser, and Chemical Laser.
- Based on Product, Global Directed Energy Weapons Market is segmented into lethal and Non-Lethal.
- Based on End-User, Global Directed Energy Weapons Market is segmented into Ship-Based, Land Vehicles, Airborne, and Gun Shot.
- By Region, the Global Directed Energy Weapons Market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.
The rising need for lethal and precise weapons has contributed in target market growth. Further, surge in adoption of directed energy weapons to reduce collateral damage and to achieve precise targeting and growing strategic acquisition among players is likely to propel Directed Energy Weapon market growth.
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Competitive Landscape & their strategies of Global Directed Energy Weapons Market:
Key players operating in the global directed energy weapon market includes, Lockheed Martin Corporation, Raytheon Company, Northrop Grumman Corporation, The Boeing Company, BAE Systems plc, L-3 Communications Corporation, Rafael Advanced Defense Systems Ltd, Applied Companies, Inc, Textron Inc, and Moog, Inc.
The market provides detailed information regarding the industrial base, productivity, strengths, manufacturers, and recent trends which will help companies enlarge the businesses and promote financial growth. Furthermore, the report exhibits dynamic factors including segments, sub-segments, regional marketplaces, competition, dominant key players, and market forecasts. In addition, the market includes recent collaborations, mergers, acquisitions, and partnerships along with regulatory frameworks across different regions impacting the market trajectory. Recent technological advances and innovations influencing the global market are included in the report.
Here are some of the trends that are shaping the directed energy weapons market:
- Growing demand from militaries: Militaries around the world are increasingly investing in directed energy weapons. Directed energy weapons offer a number of advantages over traditional weapons, such as being non-lethal, having precise targeting, and being able to engage multiple targets simultaneously.
- Development of new technologies: The development of new directed energy weapons technologies is also driving the growth of the market. For example, new laser technologies are being developed that are more powerful and efficient than previous technologies. This is making directed energy weapons more viable for a wider range of applications.
- Increasing use by law enforcement agencies: Law enforcement agencies are also increasingly using directed energy weapons. Directed energy weapons can be used for a variety of non-lethal applications, such as crowd control and disabling vehicles. This is making directed energy weapons an attractive option for law enforcement agencies.
The directed energy weapons market is a growing and dynamic market. The key players in the market are focusing on developing innovative new products and services to meet the changing needs of consumers.
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