Electromagnetic Weapons Market Summary
The global electromagnetic weapons market size was valued $350.0 million in 2020, and is projected to reach $2,060.1 million in 2030, registering a CAGR of 19.7% from 2021 to 2030.
Key Market Trends and Insights
Region wise, North America generated the highest revenue in 2020.
The global electromagnetic weapons market share was dominated by the rail guns segment in 2020 and is expected to maintain its dominance in the upcoming years
The sea-based segment is expected to witness the highest growth during the forecast
Market Size & Forecast
- 2020 Market Size: USD 350.0 Million
- 2030 Projected Market Size: USD 2,060.1 Million
- Compound Annual Growth Rate (CAGR) (2021-2030): 19.7%
- North America: Generated the highest revenue in 2020
Market Dynamics
Increase in investments in development of electromagnetic weapons to be integrated into air & missile defense and anti-surface warfare propels growth of the market. Rise in innovations and development of new modernized weapons is anticipated to fuel growth of the global market during the forecast period. Growth in demand for small electromagnetic weapons for unmanned aerial vehicles and use in combat operations has resulted in the electromagnetic weapons market growth. Incorporation of advanced technologies into electromagnetic weapons, and increase in demand from emerging economies is expected to further supplement growth of this market. However, limitation of anti-personnel high-powered microwaves, coupled with risk of high collateral damage associated with electromagnetic weapons is expected to hamper growth of the market. Furthermore, increase in technological advancements and growing research and development of electromagnetic weapons across the globe are expected to offer growth opportunities during the forecast period.
Rise in use of electromagnetic weapons in military combat activities
Defense agencies around the world have started development of electromagnetic weapons and EMP generators for neutralizing threats and maintaining superiority in defense across land, sea, and air. Defense companies are developing electromagnetic weapons to increase protection of aircraft, naval ships, and military vehicles from threats. Advanced electromagnetic weapons aid defense agencies in delivering swift responses against enemy attacks.
By Type
Railgun is projected as the most lucrative segment
Rise in development and adoption of electromagnetic weapons for enhancing defense capabilities is anticipated to propel growth of the global electromagnetic weapons market forecast period.
Growth in development of small & compact electromagnetic weapons for UAV
The defense sector is taking advantage of small, fast, and affordable UAV systems to counter security threats. Several organizations are investing in UAVs for protection of personnel and infrastructure. Increase in instances of political, economic, or social upheaval among countries or regions has led to growing domestic and intercontinental tensions across the world. Governments have increased adoption of UAVs to defend growing territorial and intercountry instability.
By Platform
Sea-based is projected as the most lucrative segment
Emerging economies and developed nations have increased development of compact and cost-effective electromagnetic weapons to counter rising regional instability. High-power electromagnetic weapons are being introduced into warfighting domains to leverage technology, production, and deployment.
The U.S. military is also deploying new weapons to tackle the threat from small unmanned aerial vehicles (UAVs) with microwave-based electromagnetic weapons. A burst of high-intensity microwaves results in overloading of electronics, causing failure and damage to drones.
By End-user
Military is projected as the most lucrative segment
Increase in modernization of weapons for military platforms
Advances in miniaturization of components, microelectronics, materials, and software has increased modernization of weapons. Development of electromagnetic launchers for affordable missiles has encouraged organizations across the world to invest in electromagnetic weapons. Advancements in technology and microelectronics are expected to increase efficiency and range of electromagnetic weapons.
Technology superiority and modernization of weapons is increasingly going to be the decisive factor in future battles. Militaries across the world are taking efforts to develop and transform superior technology into affordable and critical military weapons. Developed and developing countries are investing in R&D establishments to focus on specific capability requirements and advanced technologies.
By Region
Asia-Pacific would exhibit the highest CAGR of 21.5% during 2021-2030.
Segment Review
The global electromagnetic weapons market is segmented on the basis of type, platform, end-user, and region. On the basis of type, the market is categorized into rail guns, coil guns, and electromagnetic pulse generators (EMP). By platform, it is fragmented into land-based, air-based, and sea-based. On the basis of end user, it is classified into military and homeland security. By region, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
Competitive Landscape
Some leading companies profiled in the electromagnetic weapons market report include Thales Group, Northrop Grumman Corporation, Lockheed Martin Corporation, Raytheon Technologies Corporation, BAE Systems, L3Harris Technologies, Inc., Rheinmetall AG, The Boeing Company, Honeywell International Inc, and Rafael Advanced Defense Systems Ltd.
COVID-19 Impact Analysis
- The COVID-19 crisis has created uncertainty in the market, leading to massive slowing of supply chain, falling business confidence, and increasing panic among customer segments. Governments of different regions have already announced total lockdown and temporary shutdown of industries, thereby adversely affecting the overall production and sales. Countries around the globe have posed stringent restrictions ranging from days to months of lockdown periods. Owing to this pandemic, many businesses have been halted and are waiting for the electromagnetic weapons market conditions to improve.
- The impact of the COVID-19 pandemic has resulted in delayed development of electromagnetic weapons and slowdown of trials and demonstrations, restrictions in operations of key players, and shortage of components. The pandemic has resulted in supply-chain disruptions causing delayed developments of electromagnetic railguns.
- Shortage of components, subsystems, and electronic systems, owing to regulations associated with import and export of goods have also resulted in delayed manufacturing. Development of electromagnetic weapons has also been impacted by material shortage, owing to manufacturing shutdowns in China, South Korea, and Taiwan.
Key Benefits For Stakeholders
- This study presents the analytical depiction of the global electromagnetic weapons market analysis along with electromagnetic weapons market trends and future estimations to depict imminent investment pockets.
- The overall electromagnetic weapons market opportunity is determined by understanding profitable trends to gain a stronger foothold.
- The report presents information related to the key drivers, restraints, and opportunities of the global market with a detailed impact analysis.
- The current market is quantitatively analyzed from 2020 to 2030 to benchmark financial competency.
- Porter’s five forces analysis illustrates the potency of the buyers and suppliers in the electromagnetic weapons industry.
Electromagnetic Weapons Market Report Highlights
| Aspects | Details |
 By Type |
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 By PLATFORM |
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 By END-USER |
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 By Region |
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 Key Market Players | Raytheon Technologies Corporation, THALES GROUP, Rafael Advanced Defense Systems Ltd., Honeywell International Inc., LOCKHEED MARTIN CORPORATION, RHEINMETALL AG, THE BOEING COMPANY, L3Harris Technologies, Inc., BAE Systems, NORTHROP GRUMMAN CORPORATION |
Analyst Review
There has been increasing focus on development of electromagnetic railguns and EMP weapons such as electromagnetic bombs to address security concerns across the globe. Leading players in the market are collaborating with governments and research organizations, in addition to exploring novel technologies and applications through research and technology demonstration.
U.S. and China are developing electromagnetic railguns that use electromagnetic fields to launch projectiles. U.S. Forces have invested in development of railguns with a range of approximately 370 km. Projectiles for electromagnetic railguns are being developed that have no propulsion systems and are smaller, less costly, and can be stored in smaller spaces. These railguns are capable of efficiently countering missile attacks. U.S. aims to mount electromagnetic railguns on warships by 2025, with integration into anti-ground, anti-ship, and anti-aircraft attacks.
The U.S. Navy is considering adoption of electromagnetic weapons as part of a broader approach to warfare. Admiral Jonathan Greenert, chief of the U.S. Naval Operations, mentioned that cyber weapons need to be merged with electromagnetic attacks, “electromagnetic cyber realm” to enhance defense capabilities.
Factors such as increased security concerns, technological advancements, greater use in aircrafts & naval ships, and rise in demand for compact and efficient weapons supplement growth of the electromagnetic weapons market. However, increase in concerns regarding high collateral damage along with challenges in developing military-grade electromagnetic weapon systems are factors hindering the growth of the electromagnetic weapons market. Moreover, increase in investments by governments and private sectors in advanced weapons, and integration of advanced technologies in weapons are expected to offer opportunities for growth of the market.
Increase in demand for electromagnetic weapons from emerging economies such as Asia-Pacific and LAMEA, coupled with rise in investments for development of technologically advanced weapons is expected to supplement the market growth. Collaborations and research & development is expected to enable leading players to enhance their product portfolios and expand into different regions. Major revenue for electromagnetic weapons is generated from North America, followed by Asia-Pacific.
The global electromagnetic weapons market size was valued at USD 350.0 million in 2020, and is projected to reach USD 2,060.1 million by 2030.
The global electromagnetic weapons market is projected to grow at a compound annual growth rate of 19.7% from 2021-2030 to reach USD 2,060.1 million by 2030.
The companies manufacturing electromagnetic weapons include Thales Group, Northrop Grumman Corporation, Lockheed Martin Corporation, Raytheon Technologies Corporation, BAE Systems, L3Harris Technologies, Inc., Rheinmetall AG, The Boeing Company, Honeywell International Inc, and Rafael Advanced Defense Systems Ltd.
North America
Rise in use of electromagnetic weapons in military combat activities, Increase in modernization of weapons for military platforms majorly contribute toward the growth of the market.
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