Electronic Warfare Market expected to grow at approximately 4.5% CAGR during the period 2017 to 2023.

Electronic Warfare Market - Overview

Market Research Future (MRFR)’s recent study reveals that the global electronic warfare market is set to expand at a moderate CAGR of 4.5% during the forecast period 2017 to 2023. The innovations and advancements across the electromagnetic spectrum have opened avenues of growth for the market players. The market resonates strong opportunities for growth and is likely to remain highly lucrative in the forthcoming years.

The introduction of electronic warfare equipment facilitates detection and countermeasures, which has accelerated its adoption globally. In the present era of cold war, cross-border disputes, etc. the need for investing in electronic warfare has intensified. This, in turn, is likely to propel the growth of the electronic warfare market over the next couple of years.

The electronic warfare system has become an integral part of the defense sector. The technological advancements offered by the key vendors is a crucial factor responsible for favoring the proliferation of the market. However, factors such as economic concerns in developing regions, issues with emitter classification, and adoption of new technology remain impediments to the market growth.

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Major Key Players

• BAE Systems Plc. (U.K.),
• General Dynamics (U.S.),
• Lockheed Martin (U.S.),
• Northrop Grumman (U.S.),
• Raytheon (U.S.),
• FishEye (U.S.),
• Mercury Systems (U.S.),
• Saab (Sweden),
• Thales (France),
• Ultra Electronics (U.K.).

Industry/ Innovation/ Related News:

In May 2018, General Dynamics, an American aerospace and defense multinational corporation, received a contract from the U.S. Navy for its Surface Electronic Warfare Improvement Program.
In September 2018, Northrop Grumman, a leader in electronic warfare market, was awarded USD 9 Mn contract by the U.S. Navy for working on the Navy’s premier electronic warfare system.
In September 2018, the U.S. Army’s 1st Cavalry Division started the testing of a new armored vehicle for electronic warfare (EW). The vehicle has the ability to jam enemy communications systems.

Regional Insights:

By region, the global electronic warfare market has been segmented into North America, South America, Europe, Asia Pacific, and the Middle East & Africa. North America holds the most substantial share of the global market. It is anticipated to exhibit significant growth in the forthcoming years. The growth is attributable to its niche for technologies. The presence of key players is expected to augment the regional electronic warfare market and accelerate early adoption of novel technologies. Additionally, the initiatives undertaken by the government for amplifying its defense capabilities is further likely to propel the market growth.

Asia Pacific holds a significant share of the market and is projected to gain traction in the foreseeable future. The factors favoring the growth of the electronic warfare market in the region are rising cross-border tension, rising investments in the defense sector, etc.
Europe is an important growth pocket. It is poised to remain a highly lucrative market over the next few years owing to investments in the defense sector in countries such as Russia. The rising threat posed by the terrorist attacks is likely to have a positive impact on the proliferation of the electronic warfare market in the region.

Segmentation:

By category, the global electronic warfare market has been segmented into Electronic Support, Electronic Attack, and Electronic Protection. The electronic support segment accounts for the maximum share of the market. It is prognosticated to exhibit tremendous growth owing to increasing adoption rate in developing countries.
By platform, the electronic warfare market is segmented into Airborne, Naval, Land, and Unmanned. The airborne segment accounts for a substantial share of market revenue. An upsurge in demand for airborne equipment is expected in the electronic warfare market due to its increased application in the defense sector.

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Target Audience
• Electronic warfare OEMs
• Component Suppliers
• Aftermarket suppliers
• Research Institute / Education Institute
• Potential Investors
• Key executive (CEO and COO) and strategy growth manager

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