DUBLIN, September 28, 2021--(BUSINESS WIRE)--The "Electromagnetic Weapons Market by Product (Lethal Weapons, Non-lethal Weapons), Application (Homeland Security, Military), Platform (Land, Naval, Airborne), Technology (Particle Beam Weapons, Laser-induced Plasma Channel), and Region - Forecast to 2026" report has been added to ResearchAndMarkets.com's offering.
The electromagnetic weapons market is valued at USD 509 million in 2021 and is projected to reach USD 1,282 million by 2026 at a CAGR of 20.3%.
The key drivers propelling the growth of the global electromagnetic weapons market is the defense of terrorist attacks, chemical, biological, radiological, and nuclear materials so that civilian lives and the national security of a country can be preserved. Electromagnetic weapons like particle beam weapons, high power microwaves, and rail guns are being used to defend against attacks from threats like ballistic missiles, anti-satellite weapons, and nuclear weapons, etc. The Asia Pacific region will dominate the market due to the growing investments in electromagnetic weapons solutions.
The electromagnetic weapons market includes major players Lockheed Martin Corporation (US), Raytheon technologies (US), Northrop Grumman Corporation (US), Honeywell International (US), Thales Group (France), Rheinmetall AG (Germany), BAE Systems (UK), Elbit Systems (Israel) and QinetiQ Group (US) and others. These players have spread their business across various countries includes North America, Europe, and Asia Pacific.
Based on product type, the lethal weapons segment is projected to grow at the highest CAGR during the forecast period.
These lethal products, mainly focused for military application, include rail gun, electromagnetic bombs (e-bombs), plasma cannon (electrothermal accelerator), microwave gun, navy laser cannon, gun-launched guided projectile, automatic shotguns, and several others. Huge investments are being made in the R&D as well as demonstration and testing of lethal electromagnetic weapons
Based on platform, the Naval platform segment is projected to grow at the highest CAGR during the forecast period.
Naval electromagnetic weapons systems consist of weapons that are used in naval applications, for instance, on combat ships and submarines, among others. The naval segment is further divided into combat ships, submarines, and unmanned surface vehicles. Defense ships are specifically designed for use by coast guards and naval forces to ensure the security of water borders.
The North American region is estimated to account for the largest share of the electromagnetic weapons market in 2021
The electromagnetic weapons market in the North American region is expected to witness substantial growth during the forecast period, owing to increased investments in electromagnetic weapons technologies by countries in this region. Department of defense of the US and Canada are involved in the development of technologically advanced electromagnetic weapons platforms such as high energy lasers and high-power microwaves, which drives the market growth. Well-established and prominent manufacturers of electromagnetic weapons systems in this region include Lockheed Martin (US), Northrop Grumman (US), and Raytheon (US).
Increased Demand for Electromagnetic Weapons in Combat Operations
Rising Modernization and Investments in the Defense Sector for Developing Electromagnetic Weapons for Military Platforms
Rapid Advancements in Ai, Big Data Analytics, and Robotic Technologies
Increasing Focus on the Development of Small, Compact Electromagnetic Weapons for a Uav Platform
Restrictions on Anti-Personnel High Power Microwave
Utilization of Electromagnetic Weapons for Law Enforcement Missions
Possibility of High Collateral Damage by Use of Electromagnetic Weapons
Increase in Research and Development of Advanced Electromagnetic Weapon Technologies
Increased Barriers in Designing Military-Grade Electromagnetic Weapon Systems
Integrating Existing Weapon Control and Operating Systems with New Electromagnetic Weapon Technologies
Bae Systems plc.
Directed Energy Technologies Inc.
Elbit Systems Ltd.
Lockheed Martin Corporation
Northrop Grumman Corporation
Qinetiq Group plc.
Rafael Advanced Defense Systems
Raytheon Technologies Corporation
The Boeing Company
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