Electromagnetic Weapons Market worth $1,282 million by 2026 - Exclusive Report by MarketsandMarkets™
CHICAGO, Sept. 10, 2021 /PRNewswire/ -- According to a research report "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", published by MarketsandMarkets™, the Electromagnetic Weapons Market is estimated at USD 509 million in 2021 and is projected to reach USD 1,282 million by 2026, at a CAGR of 20.3 % from 2021 to 2026. The electromagnetic weapons market is growing at a significant rate across the world, and a similar trend is expected to be observed during the forecast period. 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 are fueling the growth of the electromagnetic weapons market.
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Based on technology, the particle beam weapons segment is projected to lead the electromagnetic weapons market from 2021 to 2026.
Particle beam weapons destroy or neutralize a target through a stream of highly energized atomic particles. These weapons are of two types: charged particle beam weapons and neutral beam weapons. The general idea of such type of weapons is to hit the target with a stream of accelerated particles known as the particle beam, with high kinetic energy, which is then transferred to the molecules of the target. The particle beam from a particle beam weapon can heat the target extensively, which can cause damage; however, the power required to produce a particle beam of this strength can be quite high. In 2003, the US military used high-power microwaves in the Iraq War to disrupt and destroy Iraq's electronic systems.
Based on product type, the lethal weapons segment will register the highest growth from 2021 to 2026.
The electromagnetic weapons market is dominated by the lethal products segment. These lethal products, mainly focused on military application, include rail guns, electromagnetic bombs (e-bombs), electromagnetic pulse (nuclear and non-nuclear EMP), and high-power microwave guns. Huge investments are being made in the R&D as well as demonstration and testing of lethal electromagnetic weapons.
Based on Platform, the naval segment will register the highest growth from 2021 to 2026.
Naval-electromagnetic weapon 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. These ships are different from commercial ships in terms of application, design structure, capabilities, and technologies. Several countries are modernizing their militaries and hence are increasing their defense budgets. The naval segment will witness high growth in the forthcoming years due to modernization programs for coastal defense across countries.
Browse in-depth TOC on "Electromagnetic Weapons Market"
133 – Tables
46 – Figures
201 – Pages
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The electromagnetic weapons market in Asia Pacific is projected to grow at the highest CAGR from 2021 to 2026.
Asia-Pacific contributed a share of 22.5% to the electromagnetic weapons market in 2021. China, India, Japan, Australia, South Korea, and rest of Asia-Pacific have been considered in the Asia-Pacific electromagnetic weapons market. The demand for electromagnetic weapons market has increased in recent years, due to the rapid economic development and increasing security threats, across Asia-Pacific region and the increase in border disputes. The military spending of China, Japan, and India has been increasing in recent years due to increased possibilities of being targeted by terrorist attacks.
This report includes a study on the marketing and development strategies, along with the product portfolios of leading companies. It consists of profiles of leading companies, such as Lockheed Martin Corporation (US), Northrop Grumman Corporation (US), Thales Group (France), BAE Systems (UK), Raytheon Technologies (US), Elbit Systems (Israel) and L3Harris Technologies (US).
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