FREMONT, California, March 27, 2019 /PRNewswire/ -- According to a new market intelligence report by BIS Research titled "Global Cognitive Electronic Warfare Market, Analysis and Forecast, 2023 - 2028", the global cognitive electronic warfare system market is estimated to report a revenue of $385.7 million in 2023 and is expected to cross $928.4 million by 2028, at a CAGR of 19.20% during the forecast period, 2023-2028.
Browse 20 Market Data Tables and 93 Figures spread through 171 Pages, and in-depth TOC on "Global Cognitive Electronic Warfare System Market"
Currently, the cognitive electronic warfare system industry is at the cusp of a major revolution. The increasing demand for cognitive electronic warfare systems is due to their capability of detecting an unknown threat in a hostile environment with the help of machine learning algorithm and artificial intelligence. This advanced technology is expected to aid military forces to be a step ahead of its enemies in combat. The technology is expected to start gaining foothold in the market from 2023.
The cognitive electronic warfare system market is expected to witness a high growth rate owing to the countries, such as the U.S., Russia, and China, planning to enhance their strategies to implement artificial intelligence (AI) in the military. AI is required for handling the data and information of huge sensors and communication networks, as the quantity of information is increasing. AI and machine learning offer potential benefits to military organizations by providing fast and high-quality data, which can support in deep analysis of complex and strategic data.
Since cognitive electronic warfare systems make use of AI and machine learning techniques, they are expected to overcome most of the drawbacks of electronic warfare system, such as incapability of handling excessive load and being non-responsive to unknown threats.
The global cognitive electronic warfare system market is categorized on the basis of capability, which is further sub-segmented into electronic attack (EA) or electronic countermeasures (ECM), electronic protection (EP) or electronic counter-countermeasures (ECCM), electronic support (ES), and electronic intelligence (EI). The electronic intelligence segment is estimated to grow at the highest CAGR during the forecast period, 2023-2028.
According to Swati Chaturvedi, Senior Research Analyst at BIS Research, "Europe is one of the most prominent regions for the growth of the global cognitive electronic warfare system market. In 2023, Europe is expected to dominate the global cognitive electronic warfare system market. Europe is keenly focusing and investing in the research and development of AI for military. For instance, in January 2019, the Russian government announced a national strategy for research and development of AI in the military. However, the geographical analysis of this market unveils an immense potential for its growth in the region of North America. Similarly, the Asia-Pacific market is also likely to witness numerous growth opportunities during the forecast period 2023-2028."
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The market report provides a detailed analysis of the recent trends influencing the market, along with a comprehensive study of the future trends and technological developments. It also includes a competitive analysis of the leading players in the industry, including corporate overview, financial summary, and SWOT analysis. The overall market has been segmented on the basis of capability and platform. The report also includes a comprehensive section on the geographical analysis including more than 10 key countries initiating toward cognitive electronic warfare systems.
This report is a meticulous compilation of research on more than 50 players in the cognitive electronic warfare system ecosystem and draws upon insights from in-depth interviews with the key opinion leaders of the leading companies, market participants, and vendors. The report provides profiles of around 10 companies, namely BAE Systems, Elbit Systems, General Dynamics, Harris Corporation, Leonardo S.p.A., Lockheed Martin, Raytheon Company, Saab AB, Textron Inc., and Thales Group.
Key questions answered in the report:
- What are the major driving forces, challenges, and opportunities that tend to influence the demand for the global cognitive electronic warfare system market during the forecast period, 2023-2028?
- Which segment (by capability) among the electronic attack, electronic protection, electronic support, and electronic intelligence of the global cognitive electronic warfare system market is expected to dominate in 2023 and what is the projection for 2028?
- Which platform among the naval, airborne, land, and space platforms of the global cognitive electronic warfare system market is expected to dominate the platform segment in 2023 and what is the projection for 2028?
- How much revenue per region is expected to be generated in the global cognitive electronic warfare system market by 2023 and 2028?
- What are the trends in the global cognitive electronic warfare system market across different regions?
- Who are the key players in the global cognitive electronic warfare system market?
- What are the new strategies adopted by the existing market players to make a mark in the industry?
- How the ongoing programs for cognitive electronic warfare system can impact the expansion of market?
About BIS Research:
BIS Research is a global B2B market intelligence and advisory firm focusing on those emerging technological trends which are likely to disrupt the dynamics of the market.
With over 150 market research reports published annually, BIS Research focuses on high technology verticals such as 3D Printing, Advanced Materials and Chemicals, Aerospace and Defense, Automotive, Healthcare, Electronics and Semiconductors, Robotics and UAV, and other emerging technologies.
Our in-depth market intelligence reports focus on the market estimations, technology analysis, emerging high-growth applications, deeply segmented granular country-level market data, and other important market parameters useful in the strategic decision-making for senior management.
What distinguishes BIS Research from the rest of the players is that we don't simply provide data but also complement it with valuable insights and actionable inputs for the success of our clients.
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SOURCE BIS Research