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2024 Military Expenditure: US and China Lead the Charge

December, 2024

Electromagnetic Weapons Market

Country wise Military Expenditure in 2024 (USD Billion)

The electromagnetic weapons market is proliferating owing to the increasing demand for highly advanced protection systems in military operations. The electromagnetic weapon system is crucial to protect military assets and naval warships by disabling the enemy's electronic systems without huge physical damage. This is the root cause of market expansion since electromagnetic weapons provide accurate and non-kinetic, non-lethal defense with minimum collateral loss, promising to neutralize threats. 

Market developments focuses on developing compact and highly effective technologies to aid in military combat and provide security and infrastructure protection. Also, increased defense agencies' investments in research and developments backed by the government military operations to go beyond conventional methods for combat and safety-related operations. In October 2023, Japan achieved mastery in developing an electromagnetic railgun by testing it from an offshore platform. Moreover, in 2023, the New York research air force lab worked on developing electromagnetic pulse technologies. 

  • India invested USD 19.60 billion in 2023 for the development of electromagnetic weapons. 
  • The US government proposed to allocate USD 842 billion in the financial year 2024. 

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