Press release
Projected Advancements in Electronic Warfare Market: Anticipated Growth, Key Players, Drivers, and Emerging Trends
Electronic Warfare Market Growth
Market Growth and Future Expectations of the Global Electronic Warfare Market
The global electronic warfare market has witnessed consistent growth over the years.
• The market, valued at $29.15 billion in 2024, is expected to increase to $30.22 billion in 2025 at a CAGR of 3.7%.
• Contributing factors to the growth include military modernization programs, the need for spectrum dominance, and the development of electronic countermeasures.
• In the coming years, the market will see strong growth and will potentially reach $39.58 billion in 2029 at a CAGR of 7.0%.
• This forecasted growth can be attributed to advanced electronic support measures, the emergence of directed energy weapons, escalating hypersonic threats and electronic warfare (EW), and the development of space-based EW systems.
What Is Driving The Growth in The Electronic Warfare Market?
The growth of the electronic warfare market is expected to be driven by rising military expenditure, which includes a budget for defense purposes, as well as investment in electronic warfare capabilities that enhance defense operations, decrease costs, and protect military assets and personnel. A recent report from SIPRI shows a 3.7% rise in worldwide military spending in 2022, hitting an unprecedented $2240 billion. Adding to this, China's military budget has seen an increase for 26 consecutive years. This consistent rise in military expenditure is anticipated to continue driving growth in the electronic warfare market.
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Who Are The Key Players Driving Electronic Warfare Market Growth?
Prominent players in the electronic warfare market include:
• Lockheed Martin Corporation
• BAE Systems PLC
• Saab AB
• RTX Corporation
• Thales Group
• General Dynamics Corporation
• L3Harris Technologies Inc.
• Northrop Grumman Corporation
• Israel Aerospace Industries Ltd.
• Leonardo SPA
What Are The Key Trends In The Electronic Warfare Market?
Emerging trends in the electronic warfare market involve:
• Cyber-electronic convergence
• The application of quantum technologies in electronic warfare
• Development of advanced electronic support measures
• Next-generation radar technologies
• Collaboration with industry partners in electromagnetic maneuver warfare
What Are The Segments Of The Global Electronic Warfare Market?
The global electronic warfare market can be segmented by:
• Products: EW Equipment, Electronic Warfare Operational Support (EWOS)
• Capability: Electronic Protection, Electronic Support, Electronic Attack
• Platform: Land, Naval, Airborne, Space
Which Region Leads The Electronic Warfare Market?
In 2024, North America was the leading region in the electronic warfare market, with Asia-Pacific anticipated to be the fastest-growing region in the forecast period. The market report covers various regions which include Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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What Is Covered In The Electronic Warfare Market Global Market Report?
- Market Size Analysis: Analyze the Electronic Warfare Market size by key regions, countries, product types, and applications.
- Market Segmentation Analysis: Identify various subsegments within the Electronic Warfare Market for effective categorization.
- Key Player Focus: Focus on key players to define their market value, share, and competitive landscape.
- Growth Trends Analysis: Examine individual growth trends and prospects in the Market.
- Market Contribution: Evaluate contributions of different segments to the overall Electronic Warfare Market growth.
- Growth Drivers: Detail key factors influencing market growth, including opportunities and drivers.
- Industry Challenges: Analyze challenges and risks affecting the Electronic Warfare Market.
- Competitive Developments: Analyze competitive developments, such as expansions, agreements, and new product launches in the market.
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