Electronic Warfare Market Current Trends, Future Prospects, and Competitive Landscape By 2028

The global electronic warfare industry generated $15.81 billion in 2020, and is estimated to reach $23.56 billion by 2028, growing at a CAGR of 5.6% from 2021 to 2028.

Surge in adoption of electronic warfare systems owing to increase in territorial and intercountry conflicts and rise in demand for missile defense detection systems, and rapid development in warfare technologies drive the global electronic warfare market.

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by capability, the electronic support segment dominated the global electronic warfare market in 2020, in terms of revenue, and is expected to lead the market throughout the forecast period. By equipment, the jammer segment is anticipated to show a lucrative growth during the forecast period. By platform, the airborne segment dominated the market in 2020, in terms of revenue. Presently, North America is the highest revenue contributor, followed by Europe.

Electronic warfare is a warfare technology that comprises use of electromagnetic spectrum as a tool to deny and attack enemy assets. Multiple types of electronic warfare capabilities such as electronic protection, electronic support, and electronic attack are implemented in land, naval, airborne, and space platforms depending on requirement of the industry. Electronic warfare offers covert, faster, and effective defense services, which can be made available to commercial and government applications.

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The global electronic warfare market is segmented on the basis of capability, equipment, product, platform, and region. Based on capability, the electronic support segment held the lion's share in 2020, accounting for nearly half of the market. However, the electronic protection segment is estimated the highest CAGR of 6.4% during the forecast period.

The global electronic warfare market is analyzed across several regions such as North America, Europe, Asia-Pacific, and LAMEA. The market across North America held the lion's share in 2020, accounting for nearly one-third of the market. However, the market across Asia-Pacific is expected to register the highest CAGR of 6.4% during the forecast period.

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The global electronic warfare market includes an in-depth analysis of the prime market players such as Elbit Systems Ltd., BAE Systems plc, Israel Aerospace Industries Ltd. (IAI), General Dynamics Corporation, Leonardo SpA, L3Harris Technologies, Inc., Northrop Grumman Corporation, Lockheed Martin Corporation, SAAB AB, Raytheon Technologies Corporation, and Thales Group.

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