Electronic Warfare Market 2022 | Increase in the R&D activities For Better Military Services

According to Precision Business Insights (PBI), latest report, the global electronic warfare market size is expected to be valued at USD 17,786.4 million in 2022 which is expected to grow at a CAGR of 5.9% over 2022-2028. The primary factors that drive the market are increasing conflicts between the countries, increasing demand for unarmed aerial vehicles for military use, and technological improvements in the electromagnetic spectrum.

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Electronic Warfare Equipment to Dominate the Electronic Warfare Market:
Based on product type, electronic warfare equipment holds the highest market share. The major factor for the rise of this segment is the growing collection of electronic warfare equipment for the enrichment of numerous platforms such as land vehicles, aircraft, and naval vessels as they have certain advantages such as electronic support, electronic protection, and electronic attack. The utilization of counter-measure dispensing systems and mechanical congestion install traps such as chaffs or flares that can confuse IR- directed missiles and external radar can drive the growth of the global electronic warfare market. Electronic counter-measure or electronic jamming makes use of IR and RF jammers to bottleneck the directing systems of enemy missiles and aircraft.

North America Electronic Warfare Market:
North America, followed by Europe, leads the global electronic warfare market due to increasing funding by the U.S. Department of Defense (DoD). North America leads the global market due to entrenched research infrastructure, increasing funding from public and private sectors, and rising collaborations among global key players for defense programs have contributed to increasing the sales of electronic warfare in this region. Apart from this, the major factor that drives the market is growing terrorism, territorial arguments, and political disagreements.

Strategic New Product Launches, Mergers, Acquisitions, and Agreements are the key strategies adopted by market players:
The global Electronic Warfare market further reveals that the key players are implementing strategies such as the extension of product collection through research and development activities, product launches, acquisitions, mergers, and strategic alliances to improve their market position and strengthen the market revenue share. In March 2021, Low-Rate Initial Production (LRIP) of the F-15 Eagle Passive Active Warning and Survivability System (EPAWSS) was awarded to BAE Systems for the air force. In January 2021, a contract was signed by Raytheon Technologies Corporation to provide the U.S. Navy with test support and engineering services for AN/ALQ-249 Next Generation Jammer (NGJ).

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The electronic warfare market is segmented based on, product type, capability type, equipment type, platform, and region.
Based on the product type, the market is segmented into the following:
• EW equipment
• EW operational support

Based on the capability type, the market is segmented into the following:
• Electronic Protection
• Electronic Support
• Electronic Attack

Based on the equipment type, the market is segmented into the following:
• Jammer
• Countermeasure system
• Decoy
• Directed-Energy Weapon
• Others

Based on the platform, the market is segmented into the following:
• Healthcare
• Land
• Naval
• Airborne
• Space

Based on the region, the market is segmented into the following:
• North America
• Europe
• Asia Pacific
• Latin America
• Middle East & Africa

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Key players' profiles in the electronic warfare market report are BAE Systems (the U.K.) Lockheed Martin Corporation (The U.S.) Raytheon Technologies Corporation (The U.S.) General Dynamics Corporation (The U.S.) L3Harris Technologies Inc. (The U.S.) The Boeing Company (The U.S.) Thales Group (France) Leonardo SPA (Italy) Northrop Grumman Corporation (The U.S.) Saab AB (Sweden) Teledyne Technologies (The U.S.) Israel Aerospace Industries (Israel) Cobham PLC (The U.K.)

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This release was published on openPR.