The Electromagnetic Weapon market was valued at US$ 1.12 billion in 2022 and is expected to hit US$ 7.84 billion by 2030, recording a CAGR of 24.8% during the forecast period.
The manufacturers in the electromagnetic weapons market are working on development of countermeasures against homing missiles and rockets. Electromagnetic weapons such as microwaves, particle-beam, and lasers that are powered by electricity do not need complex supply chains as compared to missile weapons supply chains, hence higher future adoption of electromagnetic weapons instead of missiles is expected during the forecast period. This is a driving factor for the electromagnetic weapons to be adopted by the military to utilize as countermeasures for threats, especially for units that operate within a range of an enemy’s missiles. Further, electromagnetic weapons are an affordable means to defeat low-cost threats such as small UAVs. For instance, in 2022, the US Army’s M-SHORAD is an electromagnetic weapon developed to fire lasers from their Stryker vehicle.
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Kay Players:
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- Lockheed Martin Corporation
- Rheinmetall AG
- Raytheon Technologies Corporation
- Thales Group
- L3Harris Technologies Inc.
- BAE Systems Plc
- Northrop Grumman Corporation
- Honeywell Aerospace Inc
- Boeing
- Elbit Systems Ltd.
In this report, the market has been segmented on the basis of:
- Range:
- Less than 1 Mile
- More than 1 Mile
- Application
- Naval Forces
- Air Forces
- Ground Forces
- Platform
- Armored Vehicles
- Unmanned Systems
- Handheld Systems
- Aircraft Systems
- Ships and Submarines
- Others
- Technology
- Laser
- High Energy
- Low Energy
- Microwave
- Particle Beam
- Others
- Laser
- Region
- North America
- US
- Canada
- Mexico
- Europe
- Asia Pacific (APAC)
- Middle East & Africa
- South America
- North America
Modern electromagnetic weapon 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, the US 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. In FY2022, the US MDA’s directed energy demonstrator development program received US$ 42 million in funding from Department of Defense (US DoD). For FY2022, the US Office of the Secretary of Defense (OSD) proposed US$ 107 million for high-energy laser development.
Major highlights of the report:
- All-inclusive evaluation of the parent market
- Evolution of significant market aspects
- Industry-wide investigation of market segments
- Assessment of market value and volume in past, present, and forecast years
- Evaluation of market share
- Tactical approaches of market leaders
- Lucrative strategies to help companies strengthen their position in the market
Reason to Buy
- Save and reduce time carrying out entry-level research by identifying the growth, size, leading players and segments in the global Electromagnetic Weapon Market.
- Highlights key business priorities in order to guide the companies to reform their business strategies and establish themselves in the wide geography.
- The key findings and recommendations highlight crucial progressive industry trends in the Electromagnetic Weapon Market, thereby allowing players to develop effective long-term strategies in order to garner their market revenue.
- Develop/modify business expansion plans by using substantial growth offering developed and emerging markets.
- Scrutinize in-depth global market trends and outlook coupled with the factors driving the market, as well as those restraining the growth at a certain extent.
Enhance the decision-making process by understanding the strategies that underpin commercial interest with respect to products, segmentation and industry verticals.
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