The global electronic warfare market is anticipated to witness a steady CAGR in the forecast period, 2023-2027. Factors such as advancements in electronic warfare technology and the growing integration of electronic devices in military equipment are primarily driving the demand for the global electronic warfare market. Also, the rise in the demand for communication jamming services and increased sales of unmanned aerial vehicle systems are expected to create new growth avenues for the global electronic warfare market over the forecast period.
Development of Advanced Air and Missile Defense System Drives the Market Growth
New-generation air and missile defense systems with novel technologies are considered a severe threat to inaccessible and strategic locations and platforms such as military ships and airbases. Various countries are working on developing their defense sector and are allocating substantial funds to technological advancements and the purchase of new equipment. The advent of advanced weapons that can defeat high-end defense systems such as the patriot advanced capability-3 and medium extended air defense systems are expected to influence the market demand in the forecast period. Market players are also working on the development of hypersonic missiles which are difficult to intercept such as India and Russia have recently collaborated to develop the BrahMos missile, which is difficult to intercept by the older missile systems. Some companies are working on developing high-speed cruise missiles and nuclear-capable ballistic missiles. Leading authorities are also working on developing stealth aircraft and advanced surveillance systems to keep the country’s border safe from any unwanted and unauthorized entry. The conventional radar-jamming technology cannot detect the radar, making the manufacturers focus on electronic warfare technologies such as quantum-based radar technology for surveillance purposes. The continuous evolution in technology and the launch of novel electronic warfare technologies in the market are expected to propel the global electronic warfare market growth over the next five years.
Increased demand for Electronic Warfare System Fuels the Market Growth
The countries are focusing on the development of their defense systems to strengthen their security forces to counter the bilateral military conflicts with other countries. To cater to the growing warfare needs and stay ahead in the market, market players are developing advanced novel warfare and weapon systems. The Discovery of digital battlefields is accelerating the integration of electronic warfare systems that can be used during combat situations. Countries are increasing their defense expenditure to develop new electronic warfare systems and new radar and air defense systems. Modernization of the defense system to improve the electronic and military warfare capabilities and growing applications of electronic warfare systems during battles are expected to boost the demand for the global electronic warfare market in the forecast period.
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Market Segmentation
Market Players
L3Harris Technologies, Inc., Northrop Grumman Corporation, Raytheon Technologies Corporation, Israel Aerospace Industries Ltd., Saab AB, ASELSAN AS, Thales Group, BAE Systems plc, Lockheed Martin Corporation, Leonardo S.p.A., are the major market players operating in the global electronic warfare market.
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Attribute
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Details
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Base Year
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2021
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Historic Data
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2017 – 2020
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Estimated Year
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2022
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Forecast Period
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2023 – 2027
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Quantitative Units
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Revenue in USD Million, and CAGR for 2017-2021
and 2022-2027
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Report coverage
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Revenue forecast, company share, competitive landscape, growth
factors, and trends
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Segments covered
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Capability
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Equipment
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Platform
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Regional scope
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North America; Asia Pacific; Europe & CIS; South America;
Middle East & Africa
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Country scope
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United States; Canada; Mexico; China,
India, Japan, Thailand, Indonesia, Australia, South Korea; Germany, France,
United Kingdom, Spain, Italy, Netherlands, Russia, Poland; Brazil, Argentina;
Saudi Arabia, Iran, Israel, UAE, Turkey
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Key companies profiled
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L3Harris Technologies, Inc., Northrop Grumman Corporation, Raytheon
Technologies Corporation, Israel Aerospace Industries Ltd., Saab AB, ASELSAN
AS, Thales Group, BAE Systems plc, Lockheed Martin Corporation, Leonardo
S.p.A.
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Customization scope
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10% free report customization with
purchase. Addition or alteration to country, regional & segment scope.
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Pricing and purchase options
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Avail customized purchase options to meet your exact research
needs. Explore purchase options
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Delivery Format
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PDF and Excel through Email (We can also provide the editable
version of the report in PPT/Word format on special request)
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