Selbyville, Delaware,, May 31, 2023 (GLOBE NEWSWIRE) --
The directed energy weapons market valuation is anticipated to reach USD 15 billion by 2032, as reported in a research study by Global Market Insights Inc.
As per the report, favorable government support for the military sector is among the leading factors driving market expansion. Governments in developed and developing nations are investing heavily in advanced weapons to strengthen their military sector. In December 2022, the U.S. government signed the National Defense Authorization Act into law, awarding USD 816.7 billion to the Defense Department. This act authorizes USD 30.3 billion for national security programs in the DOE and the Defense Nuclear Facilities Safety Board.
With respect to type, the non-lethal directed energy weapons market size will expand significantly through 2032. These weapons can be designed to deliver various effects depending on the situation. They can be used for crowd control, riot suppression, perimeter security, or disabling vehicles or equipment. This versatility allows a range of non-lethal options to address different scenarios effectively. Also, they enable operators to engage targets from a distance, reducing their exposure to immediate danger. This helps enhance the safety of personnel in law enforcement or military operations.
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Based on technology, the directed energy weapons market from the high energy laser segment will garner huge gains through 2032. Weapons based on this technology have the potential for extended-range engagements, depending on the power and quality of the laser system. Moreover, by adjusting the energy level and beam characteristics, these weapons can be optimized for different types of threats, providing flexibility and adaptability in dynamic operational environments.
In terms of application, the directed energy weapons market share from homeland security segment will grow at a considerable CAGR from 2023 to 2032. These weapons can be employed as a non-lethal option for perimeter security, protecting critical infrastructure, or government installations. They can deter and incapacitate intruders without resorting to lethal force, enhancing the safety of security personnel and minimizing collateral damage. Growing spending on homeland security will bolster the demand for directed energy weapons.
Asia Pacific directed energy weapons market size will grow significantly from 2023 to 2032. Increasing government investments in the defense sector will propel the demand for directed energy weapons in the region. In fact, many regional economies are focusing on modernizing their armed forces and seeking advanced military capabilities. Moreover, regional expansion can also be attributed to the presence of leading market players who are constantly developing products with advanced capabilities.
Some of the major key players operating in the directed energy weapons market are Lockheed Martin Corporation, Northrop Grumman Corporation, Moog Inc., Qinetiq Group PLC, L3harris Technologies Inc., and Applied Companies, among others In December 2022, Lockheed Martin Corporation, an American aerospace company, teamed up with Rafael Advanced Defense Systems, Ltd., an Israel-based defense technology company inclusive of joint development of High Energy Laser Weapon Systems in the U.S. and Israel.
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Partial chapters of report table of contents (TOC):
Chapter 2 Executive Summary
2.1 Directed energy weapons market 360º synopsis, 2018 - 2032
2.2 Business trends
2.3 Regional trends
2.4 Type trends
2.5 Technology trends
2.6 End-use trends
2.7 Application trends
Chapter 3 Directed Energy Weapons Market Insights
3.1 Impact on COVID-19
3.2 Russia- Ukraine war impact
3.3 Industry ecosystem analysis
3.4 Vendor matrix
3.5 Profit margin analysis
3.6 Technology & innovation landscape
3.7 Patent analysis
3.8 Key news and initiatives
3.9 Regulatory landscape
3.10 Impact forces
3.10.1 Growth drivers
3.10.2 Industry pitfalls & challenges
3.11 Growth potential analysis
3.12 Porter’s analysis
3.13 PESTEL analysis
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About Global Market Insights Inc.
Global Market Insights Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider, offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy, and biotechnology.
