According to the new research report published by The Insight Partners on "Directed Energy Weapons Market Forecast to 2028 – COVID-19 Impact and Global Analysis," the market is expected to grow at a CAGR of 21.5% from 2022 to 2028 to reach US$ 5,737.45 Million by 2028.

A few of the major players operating in the directed energy weapons market are Lockheed Martin Corporation, Thales Group, L3Harris Technologies, Elbit Systems, Raytheon Technologies Inc, BAE Systems Plc, Moog Inc, Honeywell Aerospace Inc, Boeing, and Rheinmetall AG. Many other players such as Cilas (Ariane Group), Leonardo SpA, General Atomics, Vision4CE, IPG Photonics, Epirus Inc., EDGE Group, Aselsan, MBDA, Kratos, etc. have also been analyzed during the study to get a better and holistic view of the directed energy weapons market. Organic and inorganic growth strategies adopted by these companies to expand their product portfolio and global presence are expected to contribute to the directed energy weapons market growth.

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Weapons that emit a constant force and transmit an energy force to a target are called directed energy weapons (DEWs). The directed energy weapons market is dedicated to producing lethal and nonlethal powerful beams. Lasers are the most advanced type of DEWs; hence, the development of laser weapons is relatively higher than other weapon technologies such as the microwave and particle beam. Military forces primarily use nonlethal directed energy weapons. Governments of various countries purchase or manufacture DEWs to protect civilian lives and provide national security against terrorist, chemical, biological, radioactive, and nuclear attacks; this factor drives the directed energy weapons market growth. Directed energy weapons such as high-power microwaves, lasers, and electromagnetic weapons are used as countermeasures against threats that include ballistic missiles, anti-satellites, and nuclear weapons. Directed energy weapons offer a cheap, fast, and highly accurate method of countering airborne threats compared to using expensive missiles to destroy mid-level threats such as small drones.

Many other-directed energy weapons market players are engaged in the business and hold a significant portion of the directed energy weapons market. The small players are also involved in R&D activities for developing the new technologies, which are further strengthening the directed energy weapons market size over the coming years. These organizations, over the years, have increased their investment in the development of new weapon systems as per the growing customer needs with the help of government regulatory bodies and armed forces. The government bodies help the manufacturers by providing contracts for military, homeland security, and law enforcement agencies. Further, the rise in laser weapon systems expenditure development worldwide is supporting the directed energy weapons market growth.

The directed energy weapon market across the globe comprises different manufacturers. The end-users of directed energy weapons include defence aircraft manufacturers, naval ships, ground vehicle manufacturers, and defence forces. Since directed energy weapons are among the emerging technology in the defence industry, the demand for the same is high. About the higher demand, several well-known defence 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.

The directed energy weapons system market ecosystem comprises the following stakeholders- component manufacturers, directed energy weapon (DEW) manufacturers, and defence forces. The directed energy weapons market players procure components such as sensors, tracking mount, beam detectors, and other spare parts from various suppliers across the globe. A few of the component and DEW manufacturers are Lockheed Martin Corporation, Raytheon Technologies, Northrop Grumman Corporation, Boeing Company, Kratos, Aselsan, BAE Systems, and Elbit Systems. These suppliers continuously optimize their production lines and lead times to enhance their respective supply chains. The DEW system manufacturers are witnessing significant demand for their products owing to the rising threat of UAVs over the past few years. The DEW suppliers are working collaboratively with the end users to understand the DEW demand. This helps the DEW manufacturers to suitably meet the needs of their respective customers. Various defence forces are the end users of DEW systems, which continue to seek high-energy, high-precise, and long-range laser weapon systems for their defence fleet. Several defence forces work closely with the DEW manufacturers such as Raytheon Technologies, Lockheed Martin Corporation, and others to incorporate the best possible system into the defence fleet. Such factors are also propelling the directed-energy weapons market growth.

The directed energy weapons market is segmented into technology, range, application, and platform. Based on technology, the directed energy weapons market is segmented into laser, microwave, particle beam, and others. The laser segment is further bifurcated into high energy and low energy. Based on range, the directed energy weapons market is bifurcated into less than 1 mile and more than 1 mile. Based on application, the directed energy weapons market is segmented into ground, naval, and airborne. Based on platform, the directed energy weapons market is segmented into armored vehicles, unmanned systems, handheld systems, aircraft systems, ships & submarines, and others.

Key Findings of Study:

The established players in the directed energy weapons market have a good brand image in terms of product development, collaboration with other market conglomerates, and end user defence forces. The companies include vendors such as Lockheed Martin Corporation, Rheinmetall AG, Raytheon Technologies, Boeing, and Thales Group. Such companies majorly focus on grabbing major contracts from the armed forces, who are already their major customers for different defence technologies.

The ongoing Russia-Ukraine war and constant tensions between countries such as India-China, India-Pakistan, and China-Taiwan are significantly impacting the demand for directed energy weapons across different regions. Many European countries such as the UK and Germany have already announced their plans to increase their defence budgets to approximately double their current expenditure, which is also expected to boost the directed energy weapons development and catalyze the directed energy weapons market size over the forecast period.

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