Categories: Aerospace and Defence | Format :
Global Electromagnetic Weapons Market Overview
The Global Electromagnetic Weapons market size is estimated to reach $1.3 billion by 2026, growing at a CAGR of 19.4% over the forecast period of 2022-2026. Electromagnetic weapons are alternatively known as e-bombs because they can emit high-powered flashes of radio waves or microwaves that can disable any electronic circuitry or create physiological effects in the areas exposed to the electromagnetic pulse.
In addition, they have directed energy weapon that emits electromagnetic radiation to deliver heat, mechanical, or electrical energy to a target to cause pain or permanent damage. The steady global sales growth of the electromagnetic weapons market is due to critical factors such as the inclusion of electromagnetic weapons in military arsenals, increased investment in advanced research and development of electromagnetic weapons, and the increasing emphasis on the development of smaller electromagnetic weapons for use in unmanned aerial vehicles (UAVs).
It is expected that increasing investments in the development of electromagnetic weapons for military applications and the rapid development of high-powered microwave weapons. Therefore, it will continue to drive market growth, especially countering the threat posed by enemy UAVs and other more advanced electromagnetic energy technologies.
Impact of COVID-19:
The COVID-19 pandemic has caused significant damage to the economic activities of countries across the world. The manufacturing of electromagnetic weapons, including systems, subsystems, and components, has also been impacted. Although electromagnetic weapons are for national integration and of prime importance, disruptions in the supply chain have halted their manufacturing processes for the time being. Resuming manufacturing activities depends on COVID-19 exposure, the level at which manufacturing operations are running, and import-export regulations, among other factors. Despite uneven delivery schedules, companies may still take orders.
Key Takeaways from Global Electromagnetic Weapons Market Report:
By Platform, the market for Naval Segment to grow at the highest CAGR during the forecast period.
During the forecast period, the market for the naval segment is predicted to develop at the fastest rate of XX%. It is owing to the increase of coastal protection developments and initiatives. Naval-electromagnetic weapons include weaponry being used in battleships and submarines, among many others. Vessels and ships with weapon capability are mainly constructed for the coast guard and naval forces to secure maritime border protection. Such ships vary from commercial ships in terms of use, system design, capacities, and technologies. In addition, many governments are raising overall defense spending to upgrade existing military capabilities, and the trend is expected to continue.
By Application, Military Segment to grow at the highest CAGR during the forecast period.
The military segment is predicted to develop at the fastest CAGR during the projection period. It is owing to the rising demand for more highly sophisticated technologies and capabilities in lethal weaponry from military forces in countries across the globe. In addition, massive investments in R&D, as well as the demonstration and testing of lethal electromagnetic weapons, are boosting market growth.
North America to account for the largest market share during the forecast period.
North America held the largest share of the Electromagnetic Weapons market in 2020, with a global market share of 41%. It is due to rising spending by governments in the region on electromagnetic weapons technology. In addition, the US and Canadian defense departments are developing highly sophisticated electromagnetic weapon systems, including high energy lasers and high-power microwaves, which are expected to continue to support revenue growth of the North American market.
The Asia Pacific is set to be the fastest-growing over 2021-2026. Demand for electromagnetic weapons has been rising steadily in recent times from countries such as China, Japan, India, and South Korea due to rapid economic growth, increasing security concerns, and escalating border conflicts and related concerns in the region.
Market Dynamics
Driver:
The Rising demand for electromagnetic weapons in combat operations has been a prime reason for the market penetration.
The rapid development of high-power microwave weapons and adopting electromagnetic weapons to deal with the threat of Unmanned Aerial Vehicles (UAVs) has become one of the advanced electromagnetic energy technologies. In 2021, these weapons were increasingly integrated into military platforms such as navy, airborne, mobile vehicles, and satellites. In recent decades, multiple defense manufacturers and integrators have been researching and developing electromagnetic weapons, and, currently, they are increasingly becoming more operational.
For instance, in February 2021, The US Air Force awarded a contract for Raytheon's High-Energy electromagnetic Weapon System, a system designed to counter drone threats deployed on an unidentified combatant command base for operator training and an initial performance evaluation. Similarly, in July 2020, Northrop Grumman Corporation has formed a strategic supplier agreement with Epirus, Inc. to offer the company's Electromagnetic Pulse (EMP) capability as a component of Northrop Grumman's Counter-Unmanned Aerial System (C-UAS) systems-of-systems solution offering.
Challenge:
Increased barriers in designing military-grade electromagnetic weapon systems raised questions and impeded market growth.
Complexity in the design of electromagnetic weapon systems used by the defense industry has increased, resulting in increased complications of the weapon systems. The need for electromagnetic weapon system components offering parallel operations with lower power consumption and the size and weight reduction in the defense industry has resulted in increased complexity of the design of electromagnetic weapon systems. On the other hand, continuous upgrades in military electronics require modern electromagnetic weapon systems to match the design requirements of the electronic equipment and systems.
It is a big challenge for vendors to keep pace with the changing process and technological developments and be on par with technological breakthroughs to design advanced and complex architectures suitable for military systems and equipment manufacturers. Failure to do so might reduce the number of contracts, agreements, and licenses; and, in turn, affect the overall performance of electromagnetic weapon systems in terms of efficiency and reliability.
Key Market Players
Key Players in the Global Electromagnetic Weapons Market include Lockheed Martin Corporation, Raytheon technologies, Northrop Grumman Corporation, Honeywell International, Thales Group, Rheinmetall AG, BAE Systems, Elbit Systems, and QinetiQ Group.
Recent Developments:
Report Coverage and Scope
The report "Global Electromagnetic Weapons Market" by Research Informatic covers an in-depth detailed analysis for the following segment, hidden under the scope.
By Product
By Platform
By Technology
By Application
By Geography
Electromagnetic weapons are alternatively known as e-bombs because they can emit high-powered flashes of radio waves or microwaves that can disable any electronic circuitry or create physiological effects in the areas exposed to the electromagnetic pulse.
The Global Electromagnetic Weapons market size is estimated to reach $1.3 billion by 2026, growing at a CAGR of 19.4% over the forecast period of 2022-2026.
The Rising demand for electromagnetic weapons in combat operations has been a prime reason for the market penetration. The rapid development of high-power microwave weapons and adopting electromagnetic weapons to deal with the threat of Unmanned Aerial Vehicles (UAVs) has become one of the advanced electromagnetic energy technologies.
Lockheed Martin Corporation, Raytheon technologies, Northrop Grumman Corporation, Honeywell International, Thales Group, Rheinmetall AG, BAE Systems, Elbit Systems, and QinetiQ Group.
North America held the largest share of the Electromagnetic Weapons market in 2020, with a global market share of 41%. It is due to rising spending by governments in the region on electromagnetic weapons technology.
Published On:Jan 2022
Base Year:2021
Historical Data:2018-2020
No of Pages:120
Electromagnetic Weapons Market By Product Type (Le...
RD Code : AD22