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  • Electronic Warfare Market Growth Analysis | 2023-2028

    Electronic Warfare Market Growth Analysis | 2023-2028

    Electronic Warfare Market Growth Analysis | 2023-2028
    Report code - SRAD281 Delivery - 2 Weeks
    Electronic Warfare Market Size, Share, Trends, Dynamics, Forecast, & Growth Analysis - See more...

    Market Insights

    The electronic warfare market was estimated at USD 18.44 billion in 2022 and is likely to grow at a CAGR of 4.66% during 2023-2028 to reach USD 24.32 billion in 2028.

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    What is electronic warfare?

    Electronic warfare is the action where the electromagnetic spectrum is used for activities such as attacking an enemy or impeding enemy assaults. The advantage of such a technique is not to let the enemy take advantage.

    Electronic warfare has the capabilities of electronic support, electronic attack, and electronic protection. Airborne, ground, naval, and space are the different platforms where electronic warfare is used.

    Electronic Warfare Market Report Highlights

    Market Size in 2022

    USD 18.44 billion

    Market Size in 2028

    USD 24.32 billion

    Market Growth (2023-2028)

    4.66% CAGR

    Base Year of Study

    2022

    Trend Period

    2017-2021

    Forecast Period

    2023-2028

    Key Players

    Some of the major players in the market are-

    • 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

    Market Dynamics

    The electronic warfare market is expected to grow significantly in the coming years, driven by a number of factors. These include –

    • Rising need for surveillance, intelligence, and self-protection capabilities – Rising digital and cybersecurity threats and attacks demands 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 intercontinental tensions – Increasing political, economic, and social upheaval among a few countries across the globe has resulted in a rise in domestic and intercontinental 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.

    Electronic-Warfare-Market-Dynamics

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    Segments Analysis

    By Capability Type

    Based on the 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.

    By Platform Type

    Based on the platform type, the market is segmented as airborne, ground, naval, and space. The space segment is estimated to remain dominant during the forecast period driven by the growing use of satellite-based electronic warfare equipment for various military applications.

    By Product Type

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

    Regional Insights

    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 acrimonies 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-Regional-Insights

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    Critical Questions Answered in the Report

    • What are the key trends in the global market?
    • How the market (and its various sub-segments) has grown in the last five years and what would be the growth rate in the next five years?
    • What is the impact of COVID-19 on the global market?
    • What are the key strategies adopted by the major vendors to lead in the market?
    • What is the market share of the top vendors?

    Market Segmentation

    This report studies the market covering a period of 12 years of trend and forecast. The report provides detailed insights into the market dynamics to enable informed business decision-making and growth strategy formulation based on the opportunities present in the market.

    The electronic warfare market is segmented into the following categories.

    By Capability Type

    • Electronic Support
    • Electronic Attack
    • Electronic Protection

    By Platform Type

    • Airborne
    • Ground
    • Naval
    • Space

    By Product Type

    • Electronic Warfare Equipment
    • Electronic Warfare Operational Support

    By Region

    • North America (Country Analysis: the USA, Canada, and Mexico)
    • Europe (Country Analysis: Germany, France, the UK, Russia, and the Rest of Europe)
    • Asia-Pacific (Country Analysis: China, Japan, India, and the Rest of Asia-Pacific)
    • Rest of the World (Sub-Region Analysis: Latin America, the Middle East, and Others)

    Electronic-Warfare-Market-Segmentation

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    Report Features

    This report provides market intelligence in the most comprehensive way. The report structure has been kept such that it offers maximum business value. It provides critical insights into the market dynamics and will enable strategic decision-making for the existing market players as well as those willing to enter the market.

    What Deliverables Will You Get in this Report?

    Key questions this report answers

    Relevant contents in the report

    How big is the sales opportunity?

    In-depth Analysis of the Electronic Warfare Market

    How lucrative is the future?

    Market forecast and trend data and emerging trends

    Which regions offer the best sales opportunities?

    Global, regional, and country-level historical data and forecasts

    Which are the most attractive market segments?

    Market segment analysis and Forecast

    Which are the top players and their market positioning?

    Competitive landscape analysis, Market share analysis

    How complex is the business environment?

    Porter’s five forces analysis, PEST analysis, Life cycle analysis

    What are the factors affecting the market?

    Drivers & challenges

    Will I get the information on my specific requirement?

    10% free customization

    Research Methodology

    This report offers high-quality insights and is the outcome of a detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders and validation and triangulation with Stratview Research’s internal database and statistical tools.

    More than 1,000 authenticated secondary sources, such as company annual reports, fact books, press releases, journals, investor presentations, white papers, patents, and articles have been leveraged to gather the data.

    We conducted more than 10 detailed primary interviews with the market players across the value chain in all four regions and with industry experts to obtain both the qualitative and quantitative insights.

    Report Customization Options

    With this detailed report, Stratview Research offers one of the following free customization options to our respectable clients:

    Company Profiling

    • Detailed profiling of additional market players (up to 3 players)
    • SWOT analysis of key players (up to 3 players)

    Market Segmentation

    • Current market segmentation of any one of the product types by platform type.

    Competitive Benchmarking

    • Benchmarking of key players on the following parameters: Product portfolio, geographical reach, regional presence, and strategic alliances.

    Custom Research: Stratview Research offers custom research services across sectors. In case of any custom research requirement related to market assessment, competitive benchmarking, sourcing and procurement, target screening, and others, please send your inquiry to sales@stratviewresearch.com.

    Frequently Asked Questions (FAQs)

    Electronic warfare is the action where the electromagnetic spectrum is used for activities such as attacking an enemy or impeding enemy assaults. The advantage of such a technique is not to let the enemy take advantage. Electronic warfare has the capabilities of electronic support, electronic attack, and electronic protection. Airborne, ground, naval, and space are the different platforms where electronic warfare is used.

    Electronic warfare was estimated at USD 18.44 billion in 2022.

    The electronic warfare market is likely to reach USD 24.32 billion in 2028.

    The electronic warfare market is likely to witness an impressive CAGR of 4.66% during the forecast period.

    In terms of regions, the North American region accounted for the largest share of the market for electronic warfare in 2022.

    Some of the major players in the market are BAE Systems plc, Elbit Systems Ltd., General Dynamics Corporation, Harris, Israel Aerospace Industries, Lockheed Martin Corporation, Rockwell Collins, Saab Automobile AB, Teledyne Technologies, Inc., and Thales Group.

    The electronic support segment is expected to register the highest growth in the electronic warfare market in the coming years.

    The space segment is expected to remain dominant in the market during the next five years.

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