Rockville, April 10, 2024 (GLOBE NEWSWIRE) -- Fact.MR, a market research and competitive intelligence provider, in its newly published analysis that worldwide sales of direct energy weapons (DEWs) are estimated at US$ 8.43 billion in 2024. The global direct energy weapon market is projected to reach a valuation of US$ 46.4 billion by the end of 2034.
Several countries are investing in strengthening their military capabilities, with a focus on energy weapons. In addition, rising procurements of several weapon elements, including missile control systems, jettison systems, multiple weapon release systems, and automatic gunfire control solutions are contributing to rising demand for DEWs. Governments across the world are reliant on weapon systems, which are projected to offer improved precision with an engagement in warfare. More countries are allocating significant amounts of budgets to infrared-controlled projectiles, laser-guided bombs, and electro-optical weapons.
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Lower operational costs of DEWs compared to traditional weapon systems are projected to contribute to their increased sales. Conventional weapons, including bullets, bombs, and missiles generally need constant replenishment, maintenance, and production, which cannot be economical over time. In contrast, direct energy weapons depend on energy sources, including electricity, which can be generated at economical prices, particularly renewable energy technologies. In addition, the operational costs of direct energy weapons are stable and predictable as they do not depend on fluctuating costs of raw materials, such as conventional munitions.
| Report Attribute | Details |
| Value Projection (2034) | US$ 46.4 Billion |
| Growth Rate (2024-2034) | 18.6% CAGR |
| No. of pages | 170 Pages |
| No. of Tables | 80 Tables |
| No. of Figures | 219 Figures |
Key Takeaways from Market Study
- Sales of direct energy weapons are estimated at US$ 8.43 billion in 2024.
- The global direct energy weapon market is projected to reach US$ 46.4 billion by the end of 2034.
- The market is forecasted to expand at a CAGR of 18.6% from 2024 to 2034.
- North America is projected to account for 40.2% share of the global market by the end of 2034.
- Worldwide demand for armored vehicles is projected to rise at 18.7% CAGR and reach a valuation of US$ 12.67 billion by the end of 2034.
- Sales of direct energy weapons in China are projected to rise at a CAGR of 19.5% and reach US$ 8.11 billion by the end of 2034.
“Rising investments in weapon development and demonstration along with the growing need for precise weapon systems are projected to increase sales of direct energy weapons,” says a Fact.MR analyst.
Key Market Players
- Lockheed Martin Corporation
- L3Harris Technologies, Inc.
- Thales Group
- Elbit Systems Ltd.
- BAE Systems
- Raytheon Technologies Corporation
- Honeywell International Inc.
- Moog, Inc.
- Rheinmetall AG
- Boeing
Huge Investments in Military Upgrades in the United States
The United States is projected to account for 87.2% share of the North American market by 2034-end. This prominence is attributed to the continuing military modernization projects in the country. Constant investments in R&D activities and technological advancements by some prominent suppliers of direct energy weapons are projected to drive market growth going forward.
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More Valuable Insights on Offer
Fact.MR, in its new offering, presents an unbiased analysis of the direct energy weapon market, presenting historical demand data for 2018 to 2023 and forecast statistics for 2024 to 2034.
The study divulges essential insights into the market based on technology (lasers [high energy, low energy], microwave, particle beams), range (less than 1 mile, more than 1 mile), platform (armored vehicles, ships & submarines, unmanned systems, aircraft systems, handheld systems), and application (ground, naval, airborne), across six major regions of the world (North America, Europe, East Asia, Latin America, South Asia & Oceania, and MEA).
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About Fact.MR:
Fact.MR is a distinguished market research company renowned for its comprehensive market reports and invaluable business insights. As a prominent player in business intelligence, we deliver deep analysis, uncovering market trends, growth paths, and competitive landscapes. Renowned for its commitment to accuracy and reliability, we empower businesses with crucial data and strategic recommendations, facilitating informed decision-making and enhancing market positioning. With its unwavering dedication to providing reliable market intelligence, FACT.MR continues to assist companies in navigating dynamic market challenges with confidence and achieving long-term success. With a global presence and a team of experienced analysts, FACT.MR ensures its clients receive actionable insights to capitalize on emerging opportunities and stay ahead in the competitive landscape.
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