Electronic Warfare Market Outlook 2031
The global electronic warfare market size was valued at USD 18.50 Billion in 2022 and is anticipated to reach USD 27.97 Billion by 2031, expanding at a considerable CAGR of 4.7% during the forecast period, 2023-2031. The growth of the market is attributed to the development across the electromagnetic spectrum.
Electronic warfare (EW) can be described as any activity involving the use of the directed energy or electromagnetic spectrum to control the spectrum, attack an adversary, or obstruct hostile attacks.
The goal of electronic warfare is not to offer any opponent the leverage of the electromagnetic spectrum while ensuring that allied forces have unrestricted access to it. EW can be used by unmanned and manned systems from the land, air, sea, or space to target radar, communication, and other civilian and military assets.
The outbreak of COVID-19 pandemic had a negative influence on the market. Reduction in defense budgets and supply chain disruptions as a result of the global lockdown enforced by governments, which is likely to impede the demand for electronic warfare. The market is expected to quickly recover, since various industries have restarted operations as COVID-19 instances have gradually reduced around the world.
Electronic Warfare Market Trends, Drivers, Restraints, and Opportunities
- Increasing procurement of electronic warfare systems globally is one of the key factors driving the market growth.
- Rising adoption of EW in unmanned aerial vehicles is expected to boost the market growth in the coming years.
- Growing adoption of infrared, electro-optic, and visual techniques is projected to fuel the market expansion during the forecast period.
- High cost associated with deployment of the technology presents a major challenge. This is anticipated to hamper the market growth in the projected period.
- Development of new-generation air and missile defense systems by countries is projected to create significant growth opportunities for the market in the near future.
Scope of Electronic Warfare Market Report
The report on the global electronic warfare market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.
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Attributes
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Details
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Report Title
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Electronic Warfare Market - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast
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Base Year
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2022
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Historic Data
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2016–2021
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Forecast Period
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2023–2031
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Segmentation
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Types (Electronic Support Measures, Electronic Counter-counter Measures, and Electronic Counter Measures)
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Regional Scope
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Asia Pacific, North America, Latin America, Europe, and Middle East & Africa
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Report Coverage
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Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast
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Key Players Covered in the Report
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L-3 Communications Holdings Inc.; Alliant Techsystems, Inc.; BAE Systems plc; Lockheed Martin Corp.; Teledyne Defense & Space; ELTA Systems Ltd; Rockwell Collins; and Raytheon Co.
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Electronic Warfare Market Segment Insights
Type Segment Analysis
Based on types, the global electronic warfare market is segmented into electronic support measures, electronic counter-counter measures, and electronic counter measures. The electronic counter measures segment is expected to grow at a rapid pace during the forecast period owing to its effectiveness in protecting aircraft from guided missiles.
However, the electronic support measures segment is anticipated to hold a key share of the market in the coming years due to the ability to provides not only direction-finding but also analysis of incoming signals for threat radars, such as surveillance, fire control, targeting, and missile guidance systems with instant warning.
Regional Outlook
In terms of regions, the global electronic warfare market is classified as Asia Pacific, North America, Latin America, Europe, and Middle East & Africa. North America is expected to constitute a key share of the market during the projected period attributed to significant increase in defense budget by their governments across the region.
However, the market of Asia Pacific is anticipated to expand at a rapid pace during the forecast period owing to the need to achieve efficient and faster systems with an ability to decrease the time lag in the region.
Segments
The global electronic warfare market has been segmented on the basis of
Types
- Electronic Support Measures
- Electronic Counter-counter Measures
- Electronic Counter Measures
Regions
- Asia Pacific
- North America
- Latin America
- Europe
- Middle East & Africa
Key Players
Competitive Landscape
Key players competing in the global electronic warfare market are L-3 Communications Holdings Inc.; Alliant Techsystems, Inc.; BAE Systems plc; Lockheed Martin Corp.; Teledyne Defense & Space; ELTA Systems Ltd; Rockwell Collins; and Raytheon Co.
As part of their efforts to expand their client base and acquire a competitive advantage over competitors, manufacturers operating in the market have adopted various strategic initiatives, such as partnerships, collaborations, and mergers & acquisitions.
Moreover, companies are focusing on investment in R&D for development and launching of new products to maintain their competitive positions in the market.
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