Electronic Warfare Market size to grow by USD 6.36 billion during 2022-2027, Increasing use of UAVs in electronic warfare to drive the market growth, Technavio

NEW YORK, March 7, 2024 /PRNewswire/ -- The Electronic Warfare Market size is projected to increase by USD 6.36 billion, accelerating at a CAGR of about 5.54% during the forecast period. The electronic warfare market is driven by the increasing importance of CREW (Counter Radio-Controlled Improvised Explosive Device) systems. The CREW systems hold particular significance as they are widely employed by military and law enforcement personnel to safely neutralize RCIEDs (Radio-Controlled Improvised Explosive Devices). This utilization of CREW systems has led to a substantial reduction in casualties resulting from RCIED attacks. Furthermore, it is crucial to provide comprehensive training for operating CREW systems effectively in order to disrupt the communication links of IEDs (Improvised Explosive Devices).

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Key Highlights:

• The report recognizes the following as some of the key players in the electronic warfare market: Airbus SE, ASELSAN AS, BAE Systems Plc, Cobham Ltd., Elbit Systems Ltd., General Dynamics Corp., Israel Aerospace Industries Ltd., L3Harris Technologies Inc., Leonardo Spa, Lockheed Martin Corp., Mercury Systems Inc., Northrop Grumman Corp., Raytheon Technologies Corp., Saab AB, Sierra Nevada Corp., SRC Inc., Teledyne Technologies Inc., Terma AS, Thales Group, and The Boeing Co.
• Electronic Warfare Market is fragmented in nature.
• Market to observe 4.81% YOY growth in 2023.

The market trends indicate notable progress in electronic warfare equipment, largely attributed to advancements in algorithms and software. These developments significantly enhance the operational capabilities of electronic warfare systems. Moreover, there is a growing trend of integrating these systems onto various military platforms, spanning land, air, sea, and space.

• The issues related to classifying emitters is a challenge in the electronic warfare market, particularly in densely packed electromagnetic tactical environments. 

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Key Segments

The market is segmented by Application (Support, Protection, and Attack), Platform (Airborne, Ground, Naval, and Space), and Geography (North America, APAC, Europe, Middle East and Africa, and South America).

The support segment is expected to experience significant growth during the forecast period. Electronic support (ES) encompasses actions that are under the direct control of operational commanders or operators. These actions aid in identifying threats, selecting targets, avoiding threats, and guiding munitions. The data generated, such as the frequency, bandwidth, and modulation of incoming threats, can be valuable for long-term operational planning. Additionally, when combined with ISR (Intelligence, Surveillance, Reconnaissance) data, this ES information can enhance the situational awareness of aircrew members during contingency operations.

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Analyst Review

In the contemporary geopolitical scenario, border disputes have become intricate challenges that nations face. As a result, the demand for sophisticated defense mechanisms such as modern warfare and advanced electronic warfare systems has surged. The Electronic Warfare (EW) market plays a pivotal role in addressing these concerns, offering a spectrum of solutions encompassing multilayered defensive systems, cutting-edge military hardware, and intricate electromagnetic systems.

At the forefront of this technological evolution is the advent of cognitive electronic warfare empowered by artificial intelligence and intricate neural networks. As nations invest significantly in enhancing their defense capabilities, the market dynamics are witnessing a transformation. Various international companies have emerged as key market players, providing diverse solutions and paving the way for lucrative business opportunities.

The sea segment is a crucial arena for electronic warfare, with a focus on securing naval vessels through innovative solutions. The Naval vessels equipped with state-of-the-art electromagnetic solutions are pivotal in ensuring maritime security. Organizations such as the Stockholm International Peace Research Institute (SIPRI) closely monitor military expenditure, offering insights into global defense trends.

The United States, as a major player in the international defense landscape, dedicates a substantial portion of its budget to US defense expenditure, emphasizing the significance of electronic warfare capabilities. The integration of advanced technologies, such as the MH-60R helicopter and Gallium Nitride based monolithic microwave integrated circuit (MMIC), underscores the commitment to continuous research and development in the electronic warfare domain.

The EW market is not confined to national boundaries; it thrives on collaboration with international companies that contribute to the evolution of cutting-edge technologies. The market's dynamism is further underscored by the interplay of factors influencing market dynamics. As nations strive to stay ahead in the global security paradigm, the EW market stands as a testament to innovation and adaptability, providing solutions that address the complexities of modern defense challenges.

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Market Overview

The Electronic Warfare (EW) market is witnessing substantial growth due to increasing tensions over border disputes worldwide. Modern warfare strategies heavily rely on advanced electronic warfare systems to gain an edge on the battlefield. Nations are investing heavily in multilayered defensive systems to protect their territories, emphasizing the importance of robust military hardware. Furthermore, the development of sophisticated electromagnetic systems and cognitive electronic warfare technologies has become crucial in countering evolving threats. As adversaries continue to enhance their capabilities, integration of artificial intelligence in EW systems is becoming more prevalent, enhancing their effectiveness. The EW market is poised for significant expansion as nations prioritize defense capabilities in an increasingly complex geopolitical landscape.

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Related Reports:

Cognitive Electronic Warfare System Market: The cognitive electronic warfare system market share is expected to increase to USD 632.24 million from 2021 to 2026, and the market's growth momentum will accelerate at a CAGR of 20%.

DRFM Market: The DRFM market is estimated to grow at a CAGR of 6.07% between 2022 and 2027. The size of the market is forecast to increase by USD 559.21 million.

Table of Contents:

1. Executive Summary
2. Market Landscape
3. Market Sizing
4. Historic Market Sizes
5. Five Forces Analysis
6. Market Segmentation by Application
7. Market Segmentation by Platform
8. Market Segmentation by Geography
9. Customer Landscape
10. Geographic Landscape
11. Drivers, Challenges, & Trends
12. Company Landscape
13. Company Analysis
14. Appendix

About Technavio

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