Electronic Warfare Market is Forecasted to Reach US$ 24.32 Billion in 2028, Says Stratview Research

The global electronic warfare market is projected to witness a growth rate of 4.66% annually from 2023 to 2028, with an anticipated size of US$ 24.32 billion by 2028, according to an analysis by Stratview Research.

Stratview Research, a global market research firm has launched a report on the global electronic warfare market which provides a comprehensive outlook of the global and regional market, industry forecast, current & emerging trends, segment analysis, competitive landscape, & more.

Click here to get a free sample of the report:
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Report Highlights:
Market Size in 2028: US$ 24.32 billion
Growth (CAGR): 4.66% during 2023-2028
Forecast Period: 2023-2028
Trend Period: 2017-2021
Base Year: 2022
Number of Segments Covered: 4
Number of Tables & Graphs: 100+

Segment Insights on the Electronic Warfare Market:

The global Electronic Warfare market is segmented based on Capability type, Platform type, Product type, and Region.

Based on capability type - The market is segmented as electronic support, electronic attack, and electronic protection. The electronic support segment is expected to register the highest growth in the coming five years. This high growth rate is owing to the rising engagement of modern warfare techniques in the emerging economies in the Asia-Pacific and Middle Eastern regions.

Based on product type - The market is segmented into electronic warfare equipment and electronic warfare operational support. The electronic warfare equipment segment is anticipated to depict a higher growth due to the increasing procurement of electronic warfare equipment in military ships and aircraft triggered by merits such as advanced electronic protection and electronic support applications.

To know the most attractive segments, visit:
https://www.stratviewresearch.com/740/electronic-warfare-market.html

Which Region Shows the Most Promising Growth Forecast and Opportunity?

In terms of regions, the North American region accounted for the largest share of the market for electronic warfare in 2022. Factors such as territorial disputes, rising insurgencies, terrorism, unrest between neighboring countries, and political acrimony in the region are also driving the EW market growth in this region. Europe and Asia-Pacific are also expected to offer substantial growth opportunities during the forecast period.

Electronic Warfare Market Drivers:
Some of the key drivers listed in the report are given below.
• Rising need for surveillance, intelligence, and self-protection capabilities - Rising digital and cybersecurity threats and attacks demand quick adoption of advanced surveillance and self-protection capabilities. Defense agencies across the globe have started the implementation of electronics to achieve augmented awareness to maintain superiority in defense across land, sea, and air. For instance, an Israeli company - BIRD Aerosystems, a global provider of innovative defense technology and solutions introduced SPREOS - Self Protection Radar Electro-Optic System in February 2023.
• Increasing domestic and international tensions - Increasing political, economic, and social upheaval among a few countries across the globe has resulted in a rise in domestic and international tensions. Unmanned aerial vehicles (UAVs) have transformed the dynamics on the battlefield. For instance, the rise in threat from Unmanned Aerial Vehicles [UAVs] by Iran has imposed the establishment of an inter-agency working group for the U.S. and Israel to fight dangers by using advanced electronic warfare techniques.
• Rising military & defense expenditure - Global military expenditure reaches a new record high as European spending surges. According to Stockholm, April 2023, total global military expenditure increased by 3.7% in 2022, to reach a new high of $2240 billion. As militaries increase their expenditure and invest in new weapons &platforms, they also need to invest in EW systems to protect those resources from electronic warfare attacks.
• Increasing threats of drones and remotely triggered improvised explosive devices (IEDs) - One of the biggest threats is improvised explosive devices (IEDs) and drones have been increasingly used by terror groups to deliver IEDs over the years. The changing nature of security, threat perception, and the nature of conflict resulted in the usage of warfare equipment.

Top Companies in the Electronic Warfare Market:
Stratview Research has identified the following companies as the top market players.
• BAE Systems plc
• Elbit Systems Ltd.
• General Dynamics Corporation
• Harris
• Israel Aerospace Industries
• Lockheed Martin Corporation
• Rockwell Collins
• Saab Automobile AB
• Teledyne Technologies, Inc.
• Thales Group
Note: The above list does not necessarily include all the top players in the market.

What Unique Insights Does This Report Offer?

This report provides comprehensive insights into the Electronic Warfare Market, answering critical questions like:

• How big is the sales opportunity?
• Which regions offer the best sales opportunities?
• Which are the most attractive market segments?
• Which are the top players and their market positioning?
• How complex is the business environment?
• What are the factors affecting the market?

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Stratview Research is a global market research firm that highly specializes in aerospace & defense, chemicals, and a few other industries.

It launches a limited number of reports annually on the above-mentioned specializations. Thorough analysis and accurate forecasts in this report enable the readers to take convincing business decisions.

Stratview Research has been helping companies meet their global and regional growth objectives by offering customized research services. These include market assessment, due diligence, opportunity screening, voice of customer analysis, market entry strategies, and more.

This release was published on openPR.