Electromagnetic Weapons Market Outlook
According to the report by Expert Market Research (EMR), the global electromagnetic weapons market analysis reached a value of USD 554 million in 2022. Aided by the rising need for advanced weaponry and growing applications in defence and security, the market is projected to further grow at a CAGR of 21.40% between 2023 and 2028 to reach a value of USD 1,731 million by 2028.
Electromagnetic weapons, also known as directed energy weapons, use the power of the electromagnetic spectrum to destroy enemy devices or structures. They operate based on the principles of electromagnetism and are often used in anti-personnel weapon systems, missile defence systems, and electronic warfare. These weapons offer significant advantages such as speed, range, and flexibility of operation, which make them an essential part of modern warfare.
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The increasing demand for advanced weaponry in military and defence sectors is a crucial driver of the global electromagnetic weapons market growth. With the evolving nature of warfare and security threats, there is a growing need for innovative, precise, and effective weapon systems. This has led to an upsurge in the adoption of electromagnetic weapons, which provide superior performance compared to conventional weapons. Key electromagnetic weapons market trends that are anticipated to increase demand for electromagnetic weapons to support homeland security include the rising risk of terrorism, the economic growth of emerging economies, and electromagnetic weapons’ ability to detect differences between innocent civilians and electronic warfare machines.
The extensive applications of electromagnetic weapons across various sectors are also instrumental in accelerating the electromagnetic weapons market development. They are frequently employed in electronic, missile, and anti-satellite warfare as part of the national defence. These weapons can also be deployed for crowd control and border security in civilian settings, expanding their commercial potential.
The development of electromagnetic weaponry has also continued to advance as a result of increased defence spending in research and development. High energy lasers, microwave weapons, and particle beams are becoming increasingly effective, durable, and adaptable to many battle settings, which increases their appeal to military and defence uses.
Finally, the increasing geopolitical tensions and the growing focus on modernising military capabilities have led to a heightened demand for electromagnetic weapons. Countries across the world are investing heavily in upgrading their defence technology and infrastructure, which directly boosts the global electromagnetic weapons market expansion.
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Electromagnetic Weapons Market Segmentation
The market can be divided based on product, platform, application, and region.
Market Breakup by Product
- Rail Guns
- Electromagnetic Pulse Generator
- Coil Guns
Market Breakup by Platform
Market Breakup by Application
- Homeland Security
Market Breakup by Region
- North America
- Asia Pacific
- Latin America
- Middle East and Africa
The EMR report looks into the market shares, plant turnarounds, capacities, investments, and acquisitions and mergers, among other major developments, of the global electromagnetic weapons companies. Some of the major key players explored in the report by Expert Market Research are as follows:
- General Atomics
- Northrop Grumman Corporation
- Harp R&D Corp.
- Epirus Inc.
- Lockheed Martin Corporation
- BAE Systems.
- Thales Group
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