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Rising Defense Expenditures Fueling Growth In The Defense Electronics Market: A Key Factor Shaping the Future of the Defense Electronics Market in 2025
Defense Electronics Market Trends
The escalating defense expenditures are anticipated to catalyze the expansion of the defense electronics market. Defense expenditure, colloquially known as military spending or defense budget, encapsulates the fiscal resources that a country or government designates for defense and military-related activities. In these expenditures, a section of the budget is usually committed to defense electronics, encompassing electronic equipment such as air defense radars and communication systems. For instance, the Ministry of Defense (MOD) departmental resources 2022, published by the UK government, reported that defense spending for 2021-2022 amounted to $58.39 (£45.930) billion, marking an 8.4% increase from $53.85 (£42.365) billion in 2020-2021. Consequently, the escalating defense expenditures are propelling the expansion of the defense electronics market.
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What growth opportunities are expected to drive the defense electronics market's CAGR through 2034?
Recent years have seen significant expansion in the defense electronics market. The market size, which stands at $231.84 billion in 2024, is projected to reach $245.82 billion in 2025, exhibiting a compound annual growth rate (CAGR) of 6.0%. The growth observed in the past years has been strongly influenced by factors such as increasing global military threats, modernizing programs, rising concerns on cybersecurity, counterterrorism operations, and the beginning of asymmetrical threats.
Over the coming years, the defense electronics market is slated for robust expansion. By 2029, it's projected to reach a value of $305.52 billion, growing at a compound annual growth rate (CAGR) of 5.6%. This surge during the forecast period can be attributed to the incorporation of emerging technologies, the increasing focus on cyber resilience, unmanned and autonomous technologies, interlinked battlefields, and a shift towards operations in the electromagnetic spectrum. Key trends for the forecast period encompass the creation of advanced radar systems, the application of gallium nitride (GaN) technology, the growth of unmanned systems electronics, the implementation of cognitive electronic warfare systems, and an emphasis on miniaturization and swap optimization.
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How are the latest trends influencing the growth of the defense electronics market?
A significant trend making waves in the defense electronics market is product innovations. Major players in this market are creating new technologies to maintain their market standing. For example, BAE Systems PLC, an aerospace enterprise based in the UK, unveiled its Storm EW (Electronic Warfare) Modules for defense electronics in March 2022. These innovations are intended to provide advanced offensive and defensive electronic warfare (EW) systems. The established common core architecture that the Storm EW modules use accelerates the delivery of software-based EW functionalities, offering the situational awareness, survival skills, and electromagnetic capabilities that warfighters require for difficult missions. The flexible design of the Storm EW Modules gives a stable hardware base that can be altered and incorporated into different airborne platforms, including fixed-and rotary-wing aircraft, unmanned flying vehicles, and directed missiles.
Which growth-oriented segments of the defense electronics market are leading the industry's development?
The defense electronics market covered in this report is segmented -
1) By Component: Hardware, Software, Services
2) By Equipment Type: C4ISR Systems, Weapon Systems, Electro-Optical And Infrared (EO Or IR) Systems, Military Simulators, Radar Systems, Sonar Systems, Avionics, Electronic Warfare, Other Equipment Type
3) By Platform: Airborne, Marine, Land, Space
Subsegments:
1) By Hardware: Avionics Systems, Radar Systems, Communication Equipment, Electronic Warfare Systems, Sensors And Imaging Systems
2) By Software: Simulation Software, Command And Control Software, Cybersecurity Software, Maintenance And Support Software, Data Analysis And Processing Software
3) By Services: System Integration Services, Maintenance And Repair Services, Training And Support Services, Consulting Services, Managed Services
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What regions are leading the charge in the defense electronics market?
North America was the largest region in the defense electronics market in 2024. The regions covered in the defense electronics market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
What companies are at the forefront of innovation in the defense electronics market?
Major companies operating in the defense electronics market include Raytheon Technologies Corporation, The Boeing Company, Lockheed Martin Corporation, General Dynamics Corporation, Mitsubishi Electric Corporation, Honeywell International Inc., Northrop Grumman Corporation, BAE Systems plc, Safran S.A., Thales Group, L3Harris Technologies Inc., Leonardo S.p.A., Textron Inc., Rheinmetall Electronics GmbH, Elbit Systems Ltd., Serco Group plc, Indra Sistemas S.A., Saab AB, Airbus Defence & Space GmbH, Rafael Advanced Defense Systems Ltd., Bharat Electronics Limited, Hensoldt AG, LIG Nex1 Co. Ltd., Ultra Electronics Holdings plc, Kratos Defense & Security Solutions Inc., Terma A/S, Tata Advanced Systems, Samsung Techwin Co. Ltd., Data Patterns Ltd., Rockwell Collins Inc.
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What Is Covered In The Defense Electronics Global Market Report?
• Market Size Forecast: Examine the defense electronics market size across key regions, countries, product categories, and applications.
• Segmentation Insights: Identify and classify subsegments within the defense electronics market for a structured understanding.
• Key Players Overview: Analyze major players in the defense electronics market, including their market value, share, and competitive positioning.
• Growth Trends Exploration: Assess individual growth patterns and future opportunities in the defense electronics market.
• Segment Contributions: Evaluate how different segments drive overall growth in the defense electronics market.
• Growth Factors: Highlight key drivers and opportunities influencing the expansion of the defense electronics market.
• Industry Challenges: Identify potential risks and obstacles affecting the defense electronics market.
• Competitive Landscape: Review strategic developments in the defense electronics market, including expansions, agreements, and new product launches.
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