Electronic Warfare Market Analysis | 2023-2028

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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Market Dynamics

Introduction

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.

Market Drivers

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.

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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

Note: The above list does not necessarily include all the top players in the market.

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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.

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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 market dynamics and will enable strategic decision-making for existing market players as well as those willing to enter the market. The following are the key features of the report:

• Market structure: Overview, industry life cycle analysis, supply chain analysis.
• Market environment analysis: Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis.
• Market trend and forecast analysis.
• Market segment trend and forecast.
• Competitive landscape and dynamics: Market share, Service portfolio, New Product Launches, etc.
• COVID-19 impact and its recovery curve
• Attractive market segments and associated growth opportunities.
• Emerging trends.
• Strategic growth opportunities for the existing and new players.
• Key success factors.

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)

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Research Methodology

• This strategic assessment report from Stratview Research provides a comprehensive analysis that reflects today’s electronic warfare market realities and future market possibilities for the forecast period.
• The report segments and analyzes the market in the most detailed manner in order to provide a panoramic view of the market.
• The vital data/information provided in the report can play a crucial role for market participants as well as investors in the identification of the low-hanging fruits available in the market as well as to formulate growth strategies to expedite their growth process.
• 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 15 detailed primary interviews with market players across the value chain in all four regions and industry experts to obtain both 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.

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