This paper presents a numerical electromagnetic analysis of magnetic fields and loop voltages inside reduced- and full-scale lightning protection systems (LPSs) structures resulting from direct lightning strikes. The method of moments is employed to model the whole structure in three dimensions except the lightning channel. The lightning channel is simulated by the well-known transmission-line model (TL model), where the influence of the lightning-channel generated electric and magnetic fields are taken into account. Three distinct LPSs were modeled, namely, reduced-scale model with return conductors (RSRC), reduced-scale model with lightning channel (RSLC), and full-scale model with lightning channel (FS). The computed results of magnetic fields and magnetic-field derivatives were verified versus some experimental results for the RSRC model. In addition, the scale factor for all the measured quantities were also checked as functions of the geometrical scale factor for the positive and the negative first stroke currents. The lightning shielding performance with and without bonding was investigated for three distinct lightning stroke types, namely, the negative first, the negative subsequent, and the positive strokes. The voltages and currents generated in loops located inside the struck FS LPS were computed with and without bonding and grounding resistance and for different lightning current waveforms, locations and inclination of the lightning channel, and return stroke velocity.