Directed Energy Weapons Market Size and CAGR by 2031
The directed energy weapons market size is projected to reach US$ 11.13 billion by 2031 from US$ 1.98 billion in 2023. The market is expected to register a CAGR of 24.0% during 2023–2031. Increasing focus on development of microwave directed energy weapons is likely to remain a key trend in the market.
Directed Energy Weapons Market Analysis
The key stakeholders in the directed-energy weapons market include component manufacturers, DEWs manufacturers, technology providers, and end users. The directed energy weapons system market ecosystem comprises the following stakeholders- component manufacturers, DEW manufacturers, and defense forces. The directed-energy weapon system manufacturing market players procure components such as sensors, tracking mount, beam detectors, and other spare parts from various suppliers across the globe. Some of the component manufacturers are Lockheed Martin Corporation, Raytheon Technologies, Northrop Grumman Corporation, and Boeing Company, among others. These suppliers continuously optimize their production lines and lead times to enhance their respective supply chains. The directed-energy weapon system manufacturers are witnessing significant demand for their products owing to the rising threat of UAVs over the past few years. The DEW supplier works in sync with the procurer of the directed-energy weapon system to understand the demand of the procurer or end users. This helps the DEW manufacturers to suitably meet the needs of their respective customers. The defense forces are the end users, which continue to seek high-energy, high-precise, and long-range laser weapon systems for their defense fleet. Several defense forces work closely with the DEW manufacturers such as Raytheon Technologies, Lockheed Martin Corporation, and others to incorporate the best possible system into the defense fleet. This factor also propels the directed-energy weapons market.
Directed Energy Weapons Market Overview
Over the past decade, the defense forces have been seeking the directed energy weapon system. The microwave-based DEW systems have attracted several defense forces across the globe. However, the DEW systems are still in the development/prototyping phase in many countries. The existence of substitute technology is a key parameter for the directed energy weapons manufacturers to emphasize. Directed energy weapon is one of the key products of security and safety and many more among the defense forces. Thus, a complete substitute is not available in the market in the current scenario.
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Directed Energy Weapons Market: Strategic Insights
CAGR (2023 - 2031)24.0%- Market Size 2023
US$ 1.98 Billion - Market Size 2031
US$ 11.13 Billion
Market Dynamics
- Increasing adoption of directed-energy weapons as countermeasures
- Rising focus on developing high-energy DEWs
- Military Research & Development Programs for Directed Energy Weapons
- Increasing focus on development of microwave directed energy weapons
Key Players
- Lockheed Martin Corporation
- Thales Group
- L3Harris Technologies, Inc.
- Elbit Systems Ltd.
- Raytheon Technologies Corporation
- BAE Systems
- Moog Inc.
- Honeywell International Inc.
- Rheinmetall AG
Regional Overview
- North America
- Europe
- Asia-Pacific
- South and Central America
- Middle East and Africa
Market Segmentation
Technology - Laser
- Microwave
- Particle Beam
- Others
Range - Less Than 1 Mile and More Than 1 Mile
Application - Ground
- Naval
- Airborne
Platform - Armored Vehicles
- Unmanned Systems
- Handheld Systems
- Aircraft Systems
- Ships and Submarines
- Others
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Directed Energy Weapons Market Drivers and Opportunities
Continuous Rise in Demand from Different Defense Force
The directed energy weapon market across the globe comprises different manufacturers. The end-users of directed energy weapons include defense aircraft manufacturers, naval ships, defense ground vehicle manufacturers, and defense forces. Since directed energy weapons are among the emerging technology in the defense industry, the demand for the same is high. Pertaining to the higher demand, several well-known defense contractors have ventured into the market. The presence of many suppliers of directed energy weapons has been raising the bargaining power of buyers. Over the years, as the number of end users rises, the bargaining power of buyers is anticipated to rise.
Military Research & Development Programs for Directed Energy Weapons
Improved system dependability is a key consideration when choosing a directed energy weapon. The use of cutting-edge technology with the integration of hardware components disseminates across a range of military assets, such as combat vehicles, unidentified objects, drones, and UAVs. Modern directed-energy weapons with exceptional precision have made it necessary for nations with border disputes and regional threats to rely on such cutting-edge weapons for their border safety. For instance, Missile Defense Agency’s (MDA) directed energy demonstrator development program targets technical risk reduction and maturation for high-powered strategic lasers, beam control, lethality, and associated technologies. Future DEW systems are most certainly to be developed more powerful than current systems using realistic klystron amplifier technology, as reported by the Chinese researchers. For instance, in Shanghai, researchers are developing a DEW system to enable a firing range of 100-petawatt laser shots by 2023. Such factors are likely to provide new opportunities for market vendors in the coming years.
Directed Energy Weapons Market Report Segmentation Analysis
Key segments that contributed to the derivation of the directed energy weapons market analysis are technology, application, range, and platform.
- Based on technology, the directed energy weapons market is divided into laser, microwave, particle beam, and others. The laser segment held a larger market share in 2023.
- Based on application, the directed energy weapons market is segmented into ground, naval, and airborne. The ground segment held a larger market share in 2023.
- By range, the market is segmented into less than 1 mile and more than 1 mile. The XX segment held the largest share of the market in 2023.
- In terms of platform, the market is segmented into armored vehicles, unmanned systems, handheld systems, aircraft systems, ships and submarines, and others. The armored vehicles segment held a significant share of the market in 2023.
Directed Energy Weapons Market Share Analysis by Geography
The geographic scope of the directed energy weapons market report is mainly divided into five regions: North America, Europe, Asia Pacific, and Rest of the World.
North America has dominated the market in 2023 and it is expected to retain its dominance during the forecast period as well. Europe is likely to retain its second largest position in the market during the forecast period followed by the Asia Pacific region. In North America, the US is the most developed country. As the country is an early adopter of technologies, the adoption of directed energy weapon is high in the North American region. More advancement of directed energy weapons is witnessed in the US comparing to other countries of the global market. Increasing collaboration and partnership of the US government with leading companies such as Lockheed Martin Corporation, Raytheon Technologies Corporation, and Boeing, among others, is accelerating the country’s growth. Acceptance of advanced weapon systems by the US government encourages laser weapon systems manufacturers to provide more innovative laser solutions for the US. The North American region is estimated to surge at the prime rate over the years till 2031 due to the strong presence of directed energy weapons manufacturers and significantly higher military spending year on year. These parameters continuously boost the directed energy weapons market to surge in the forecasted period.
Directed Energy Weapons Market Report Scope
| Report Attribute | Details |
|---|---|
| Market size in 2023 | US$ 1.98 Billion |
| Market Size by 2031 | US$ 11.13 Billion |
| Global CAGR (2023 - 2031) | 24.0% |
| Historical Data | 2021-2022 |
| Forecast period | 2024-2031 |
| Segments Covered | By Technology
|
| Regions and Countries Covered | North America
|
| Market leaders and key company profiles |
|
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Directed Energy Weapons Market News and Recent Developments
The directed energy weapons market is evaluated by gathering qualitative and quantitative data post primary and secondary research, which includes important corporate publications, association data, and databases. A few of the developments in the directed energy weapons market are listed below:
- Lockheed Martin (NYSE: LMT) was awarded a contract to develop and deliver up to four 300 kW-class laser weapon systems to the U.S. Army’s Indirect Fire Protection Capability-High Energy Laser (IFPC-HEL) prototype program. The IFPC-HEL system complements other layered defense components to protect soldiers from stressing threats, unmanned aerial systems, rocket, artillery and mortars, along with rotary and fixed-wing aircraft. (Source: Lockheed Martin Corporation, Press Release, Oct 2023)
Raytheon UK is set to receive its first high-energy laser weapon system to be tested and integrated in the United Kingdom, marking a significant advancement in the understanding of how such systems can be fielded. (Source: Raytheon Technologies, Press Release, Sep 2023)
Directed Energy Weapons Market Report Coverage and Deliverables
The “Directed Energy Weapons Market Size and Forecast (2021–2031)” report provides a detailed analysis of the market covering below areas:
- Directed energy weapons market size and forecast at global, regional, and country levels for all the key market segments covered under the scope
- Directed energy weapons market trends as well as market dynamics such as drivers, restraints, and key opportunities
- Detailed porter’s five forces analysis
- Directed energy weapons market analysis covering key market trends, global and regional framework, major players, regulations, and recent market developments
- Industry landscape and competition analysis covering market concentration, heat map analysis, prominent players, and recent developments for the directed energy weapons market
- Detailed company profiles
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
This text is related
to segments covered.
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
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to country scope.
Frequently Asked Questions
North America region dominated the directed energy weapons market in 2023.
Increasing adoption of directed-energy weapons as countermeasures and rising focus on developing high-energy DEWs are some of the factors driving the growth for directed energy weapons market.
Increasing focus on development of microwave directed energy weapons is one of the major trends of the market.
Lockheed Martin Corporation, Thales Group, L3Harris Technologies, Elbit Systems, Raytheon Technologies Inc, BAE Systems Plc, Moog Inc, Honeywell Aerospace Inc, Boeing, and Rheinmetall AG are some of the key players profiled under the report.
The estimated value of the directed energy weapons market by 2031 would be around US$ 11.13 billion.
The directed energy weapons market is likely to register of 24.0% during 2023-2031.
The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.
- Data Collection and Secondary Research:
As a market research and consulting firm operating from a decade, we have published and advised several client across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.
Several associations trade associates, technical forums, institutes, societies and organization are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in last 3 years are scrutinized and analyzed to understand the current market trends.
- Primary Research:
The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.
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- Industry participants: VPs, business development managers, market intelligence managers and national sales managers
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Below is the breakup of our primary respondents by company, designation, and region:
Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.
- Macro-Economic Factor Analysis:
We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
- Country Level Data:
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- Company Profile:
The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
- Developing Base Number:
Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.
- Data Triangulation and Final Review:
The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.
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