Directed Energy Weapons Market to Witness Astonishing Growth by 2029

The global directed energy weapons market is anticipated to grow at a CAGR of 9.5% during the forecast period (2023-2030). With the rise in terrorist activities, nations require cutting-edge and exceptionally proficient safeguarding gear to protect the citizens of their nation. A significant piece of the budget is spent on the R&D of new technologies in the defense sector, that are further utilized to improve arms, ammunition, safeguard systems, and direct attack weapons. For instance, according to the International Institute for Strategic Studies, global defense spending has been on a strong upward trajectory over the last five years, increasing from $1.7 trillion in 2017 to $2.0 trillion in 2022. Moreover, in 2021, Member States allocated a record $8.0 billion to European collaborative defense equipment procurement projects, almost double the $4.7 billion recorded in 2020, according to the European Defense Agency.

Additionally, the key player which includes, Moog Inc., Northrop Grumman, QinetiQ, Thales UK Ltd., and others are highly inclined towards adopting various strategies such as partnership, collaboration, funding, and new product offering to remain competitive in the marketplace. For instance, in September 2021, The UK Ministry of Defense declared that the Ministry had awarded a contract worth $100.32 million under Project Tracey as a part of the UK Government's Novel Weapons Programme to the UK industry consortia headed by BAE Systems Plc, Thales UK Ltd., and Raytheon UK Ltd. The project tracery includes the development, demonstration, and production of future High-Energy Laser directed energy weapons along with the three directed weapons demonstrators. These demonstrators are high-energy laser weapons demonstrators onboard Type 23 frigate, Wolfhound armored vehicle-mounted demonstrators, and ground-based demonstrators mounted on MAN SV trucks. In addition, in January 2021, BAAINBw awarded a contract to a consortium headed by Rheinmetall Waffe Munition GmbH and MBDA to work on the R&D, testing, and evaluation (RDT&E) of high-energy laser weapon demonstrator onboard Germany Navy F-124 Sachsen frigate.

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Market Coverage

• The market number available for - 2022-2030

• Base year- 2022

• Forecast period- 2023-2030

Segment Covered-

· By Technology

· By Laser

· By Application

· By Platform

Regions Covered-

· North America

· Europe

· Asia-Pacific

· Rest of the World

· Competitive Landscape- including Lockheed Martin Corp., MBDA, Honeywell International Corp., Thales Group, The Boeing Co., and others.

Directed Energy Weapons Market Report Segment

By Technology

• High Energy Laser

• High Power Radio Frequency

• Electromagnetic Weapons

• Sonic Weapons

By Laser

• Chemical Laser

• Fiber Laser

• Free Electron Laser

• Solid -State Laser

By Application

• Homeland Security

• Military

• Defense

By Platform

• Land

• Airborne

• Naval

• Space

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Directed Energy Weapons Market Report Segment by Region

North America

· United States

· Canada

Europe

· UK

· Germany

· Spain

· France

· Italy

· Rest of Europe

Asia-Pacific

· India

· China

· Japan

· South Korea

· Rest of APAC

Rest of the World

• Latin America

• Middle East and Africa

Company Profiles

• 3Harris Technologies, Inc

• BAE Systems

• Kord Technologies

• Leonardo US Inc,

• Moog Inc.

• Northrop Grumman

• QinetiQ

• Rafael Advanced Defense Systems Ltd.

• Raytheon Technologies Corp.

• Rheinmetall AG

• Textron Systems Corp.

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