PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1464690
PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1464690
Electronic Warfare Market size was valued at USD 11,213.45 Million in 2023, expanding at a CAGR of 11.5% from 2024 to 2032.
Electronic warfare, or EW, is the ability to sense, defend, and communicate using signals found in the electromagnetic spectrum, such as radio, infrared, or radar. The opponents' capacity to use these signals can also be disrupted, denied, and diminished by EW. It helps to provide situational awareness to the country and to take defensive measures before conflicts arise. The increase in geopolitical tensions worldwide and regional conflicts have led to an increase in the adoption of electronic warfare systems. However, the complexity of the integration of EW systems becoming a challenge for the growth of the market. Furthermore, technological advancement in EW equipment and increased government funding for border security will propel the market growth in the coming years.
Electronic Warfare Market- Market Dynamics
Increasing focus on cognitive electronic warfare technologies
Electronic warfare is becoming a more important component of contemporary defence and national security strategies and is dominated by both government and private defence contractors. Its growth is fueled by evolving threats in the electronic domain, technological advancements, and the need for modern military forces to maintain a competitive edge in a rapidly changing operational environment. The initiatives stimulate governments and private sector companies to invest in research and development, which supports the market. They also go hand in hand with technology developments such as software-defined radios and the integration of artificial intelligence and machine learning. The necessity of integrated solutions in the current threat landscape is further highlighted by the convergence of cyber warfare and electronic warfare capabilities, which supports market growth.
Electronic Warfare Market- Key Insights
As per the analysis shared by our research analyst, the global market is estimated to grow annually at a CAGR of around 11.5% over the forecast period (2024-2032)
Based on platform segmentation, on-premises was predicted to show maximum market share in the year 2023
Based on type segmentation, electronic protection was the leading type in 2023
Based on product segmentation, electronic warfare equipment was the leading type in 2023
Based on technology segmentation, anti-jam electronic protection systems were the leading type in 2023
Based on end user segmentation, OEM was the leading type in 2023
Based on region, North America was the leading revenue generator in 2023
The Global Electronic Warfare Market is segmented based on Platform, Type, Product, Technology, End User, and Region.
The market is divided into two categories based on platform: Based on the platform, the on-premises has the most market share. Positioned on the ground, land-based electronic warfare systems are employed to safeguard borders, keep an eye on military sites, and assist with ground operations. They consist of other land-based electronic warfare tools, jamming devices, and radars stationed on the ground.
The market is divided into two categories based on product: Electronic Warfare Equipments and Electronic Warfare Operational Support. In the Equipment segment, equipment, jammers are predicted to have the biggest market share in 2024 and to expand at the quickest rate during that time. Electronic warfare devices known as jammers are made to interfere with, obscure, or fool adversary radar, communication systems, or other electronic signals.
Electronic Warfare Market- Geographical Insights
Geographically, this market is widespread in the regions of North America, Latin America, Europe, Asia Pacific, and the Middle East and Africa. These regions are further divided as per the nations bringing business.
North America accounted for the greatest revenue share for the electronic warfare market. The main factor driving the region's growth is increased investment in electronic warfare technologies by regional countries like the United States. For government agencies, academic institutions, and defence contractors committed to developing electronic warfare capabilities, the US market offers a thriving environment. Moreover, the United States government allows significant financial resources to facilitate the creation and acquisition of cutting-edge electronic warfare systems. Asia-Pacific is also predicted to observe the growth in the market for electronic warfare. Growing geopolitical tensions, military modernization initiatives, and changing threat scenarios are driving an increasing demand for enhanced electronic warfare capabilities.
The prominent players in the electronic warfare industry include BAE Systems plc, Elbit Systems Ltd, General Dynamics Corporation, L3Harris Technologies Inc., and SAAB AB these industry leaders, drive innovation and excellence in electronic warfare globally. Companies see investing in EW as a lucrative business opportunity due to the ongoing threat of electronic attacks and the need for robust defense systems. Developing innovative EW solutions can differentiate a company in the market and attract customers looking for superior capabilities. In addition, governments invest heavily in EW capabilities to protect their national security interests.
In December 2023, The United States Navy awarded Raytheon and invested $80 million for advanced electronic warfare. This prototype will be considered as a replacement for the existing defensive electronic countermeasure and radar warning receiver with superior electronic warfare capabilities.
SCOPE OF THE REPORT
GLOBAL ELECTRONIC WARFARE MARKET KEY PLAYERS- DETAILED COMPETITIVE INSIGHTS
BAE Systems plc
Elbit Systems Ltd.
General Dynamics Corporation
Israel Aerospace Industries Ltd. (IAI)
L3Harris Technologies Inc.
Leonardo SpA
Lockheed Martin Corporation
Northrop Grumman Corporation
Raytheon Technologies Corporation
SAAB AB
Thales Group
Others