How is Europe addressing the challenges in the EW sector?

Global Electronic Warfare Market to Reach USD 25.81 Billion by 2030, Growing at a CAGR of 4.6%

The global electronic warfare (EW) market is projected to expand from USD 19.3 billion in 2023 to USD 25.81 billion by 2030, registering a compound annual growth rate (CAGR) of 4.6% during the forecast period. This growth is driven by escalating geopolitical tensions, advancements in military technology, and the increasing need for sophisticated defense systems across various regions.

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Competitive Landscape

Key players in the electronic warfare market include Lockheed Martin, BAE Systems, Saab, RTX Corporation, Thales Group, General Dynamics, L3Harris Technologies, and Northrop Grumman. These companies are focusing on product innovation, strategic partnerships, and mergers and acquisitions to strengthen their market position.​

Regional Insights

Growth and Opportunity in the United States

The United States holds a significant share of the global electronic warfare market, driven by substantial investments in defense and advanced military capabilities. The U.S. Department of Defense continues to prioritize EW systems to maintain technological superiority. Recent developments include the awarding of contracts to Boeing for performance-based logistics to manage airborne early warning and control systems.

​Trends and Consolidation in Asia Pacific
Asia Pacific is witnessing robust growth in the electronic warfare market, attributed to rising defense budgets and modernization programs in countries like China, India, and South Korea. China's military budget has increased for the 26th consecutive year, emphasizing the development of advanced EW capabilities.

Additionally, Elbit Systems and Rafael Advanced Defense Systems are targeting the Asia-Pacific market, which is experiencing a surge in defense spending due to rising geopolitical tensions.

Updation in the Middle East and Africa

The Middle East and Africa region is experiencing growth in the electronic warfare market, driven by the expansion of the defense sector and increased investments in advanced military technologies. Countries like Saudi Arabia and the United Arab Emirates are focusing on developing their defense infrastructure, creating opportunities for EW providers. For instance, Saudi Arabia plans to procure Russian S-400 air defense systems to enhance its military capabilities.

Trends in Europe

Europe's electronic warfare market is experiencing growth due to advancements in defense technologies and increased demand for sophisticated EW systems. The region's focus on modernizing military capabilities and addressing emerging threats contributes to this growth. Companies like Thales Group and Saab are actively involved in developing innovative EW solutions to meet the evolving needs of European defense forces.

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♦ Market Segmentation: In-Depth Analysis:

by Capability

Support
Attack
Protection

Protection, assault, and support are the three market segments for the electronic warfare sector based on capability. The market was dominated in 2022 by the electronic support sector. The sector that is anticipated to increase at the quickest rate over the projected period is electronic support. ISR (intelligence, surveillance, and reconnaissance) has improved the situational awareness and, consequently, the decision-making process of militaries. The increasing emphasis on situational awareness capabilities by the military sector is anticipated to foster the expansion of the electronic warfare support sector throughout the forecast period.

by Product

Equipment
Jammers
Self-Protection EW Suite
Directed Energy Weapons
Anti-radiation Missiles
Antennas
Direction Finders
Others
Operational Support
Software
Simulation

The market for electronic warfare is divided into two segments based on product: equipment and operational support. Due to advantages like advanced electronic protection, electronic attack, and electronic support applications, the equipment segment is anticipated to hold the majority of market share during the forecast period. This is because more and more electronic warfare equipment is being purchased for the upgrading of different platforms, including aircraft, land vehicles, and naval vessels.

by Platform

Land
Naval
Airborne
Space

The market may be divided into two segments based on platform: airborne and ground-based. Due to the growing use of electronic warfare systems on airborne platforms such fighter jets, unmanned aerial vehicles (UAVs), and observation aircraft, the airborne segment of the electronic warfare industry market led the market. Airborne systems are a vital component of contemporary warfare because to their many benefits, which include enhanced mobility, wide-area coverage, and quick reaction times. Given the increasing significance of airborne electronic warfare in upcoming military operations, the airborne component is predicted to maintain its supremacy.

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♦ Market Key Players : In-Depth Analysis:

1. BAE Systems Plc (UK)
2. Lockheed Martin Corporation (US)
3. Raytheon Company (US)
4. Northrop Grumman Corporation (US)
5. Thales Group (France)
6. Saab AB (Sweden)
7. L3Harris Technologies, Inc. (US)
8. Leonardo S.p.A. (Italy)
9. Harris Corporation (US)
10. Elbit Systems Ltd. (Israel)

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