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Global Electronic Warfare Market Forecast to 2028 - Featuring L3Harris Technologies, Raytheon Technologies and Lockheed Martin Among Others - ResearchAndMarkets.com

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DUBLIN--(BUSINESS WIRE)--The "Global Electronic Warfare Market Forecast to 2028 - COVID-19 Impact and Global Analysis by Component, Application, and Product Type" report has been added to ResearchAndMarkets.com's offering.

The electronic warfare market is projected to reach US$ 27,797.72 million by 2028 from US$ 18,192.85 million in 2021. it is expected to grow at a CAGR of 6.2% from 2021 to 2028.

The goal of electronic warfare is to deny the enemy the advantage of the electromagnetic spectrum while ensuring that allied forces have unrestricted access to it. Modern warfare has always included electronic warfare; however, it has progressed far beyond radio jamming. Sensing, exploiting, and manipulating the electromagnetic spectrum (EMS) is becoming increasingly possible for electronic warfare weapons thus many key players along with governments are investing an massive amount of capital in developing electronic warfare positively impacting the electronic warfare market.

As a relatively affordable and easily deployed way of stopping the operation of an enemy's radar and shielding one's similar equipment from interference, EW is becoming apriority. The market players in the electronic warfare market are anticipated to provide lucrative growth opportunities in the coming years with the rising geographical tension between neighboring countries demand for electronic warfare systems in the global market will increase.

The electronic warfare market is analyzed on the basis of component, application, product type, and geography. Based on component, the market is segmented into hardware, software, and services. By application, the market is segmented into electronic attack, electronic protection, electronic warfare support. Based on product type, the market is segmented into countermeasure systems, jammers, sensor systems, weapons systems, and others. By geography, the market is primarily segmented into North America, Europe, Asia Pacific (APAC), the Middle East & Africa (MEA), and South America.

Armed forces and non-state groups deploy unmanned aerial systems. The tiniest commercial drones can be weaponized and used to cause catastrophic damage. Finding strategies to defeat the weaponized drones as their use spreads across the battlefield is a top issue. Electronic communications and technologies are critical for autonomous and remotely driven vehicles. As the number of duties delegated to unmanned systems grows, the demand for counter-unmanned aerial systems (UAS) and electronic warfare (EW) technologies to counter them also rises. Unmanned aerial vehicles have become an important feature of armed forces worldwide. Thus, the deployment of electronic warfare systems on unmanned vehicles is propelling the electronic warfare market.

Since 2016, Turkey has won conflicts purely using unmanned systems in Syria, Libya, and Azerbaijan, demonstrating the importance of such an EW capability. Also, in 2021, the Indian Army procured a set of new surveillance drones that allow the ground controller to communicate through a satellite. As the procurement of unmanned vehicles is increasing, it is also augmenting the growth of electronic warfare systems market. The electronic defense/electronic attack system is made of two military trucks. It is meant to jam and fool both conventional and complicated varieties of hostile radar and analyze multiple target signals over a wide frequency range. Thus, these new technology integrations with electronic warfare systems are expected to contribute to the electronic warfare market growth during the forecast period.

North America has experienced a rise in the uptake of electronic warfare market over the last decade. The US has increased its military spending on acquiring advanced and updated vessels, equipment, and lethal and electronic warfare. According to the data published by Stockholm International Peace Research Institute (SIPRI), the US recorded an increase in military expenses in 2020 compared to 2019. The increase in military expenditure by North American countries influences the growth of this region's electronic warfare market.

Market Dynamics

Drivers

  • Increasing Procurement of Electronic Warfare Systems
  • Deployment of Electronic Warfare Systems on Unmanned Vehicles

Restraints

  • Limited Access to Electronic Warfare Manufacturing Facilities in Developing Countries

Opportunities

  • Technological Advancements in Electronic Warfare

Future Trends

  • Deployment of Sensors in Space for Improved Electronic Warfare Capabilities

Companies Mentioned

  • L3Harris Technologies, Inc.
  • Raytheon Technologies Corporation
  • Lockheed Martin Corporation
  • Saab AB
  • BAE Systems
  • Thales Group
  • Northrop Grumman Corporation
  • Cobham Limited
  • Leonardo S.p.A.
  • Textron Inc.

For more information about this report visit https://www.researchandmarkets.com/r/kxmoda

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First published on Tue, Jun 21, 2022

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