Electronic Warfare Market To Reach USD 38.6 Billion In 2027 | CAGR 5.1% - Forencis Research

Electronic Warfare Market Size, Share, Trends, Growth, Analysis, Research

Global Electronic Warfare Market: Key Highlights

  • According to the new market research report Electronic Warfare Market by Category (Electronic Attack, Electronic Protection, and Electronic Support) by Product (Jammers, Decoys, Countermeasure System, Antennas, Laser Warning System, Radar Warning Receiver, Direction Finders and Others) by Platform (Airborne-based, Land-based, Naval-based and Space-borne) by Region (Asia Pacific, North America, Europe, Middle East & Africa, and South America) – Global Forecast from 2020 To 2027”, the global electronic warfare market is estimated to reach USD 38.6 Billion in 2027 at a CAGR of 5.1% during forecast period 2020-2027.
  • High spending in defense & military sector is expected to drive the electronic warfare market during the forecast period.
  • However, preference on conventional warfare systems over electronic warfare systems is expected to restrain the market growth during the forecast period.

Electronic Warfare Market

Global Electronic Warfare Market: Key Market Dynamics

  • With the help of artificial intelligence and machine learning algorithms, cognitive systems can detect an unknown threat. Thus, adding cognitive systems into electronic warfare technologies is expected to boost the market growth during the forecast period.
  • To provide successful results in any war and counteraction, it is essential to develop next-generation electronic warfare technology. Higher spending on defense & military sectors for the electronic warfare system is expected to drive the electronic warfare market during the review period.
  • Due to technological limitations and the high cost of new technologies, emerging economies such as India, Brazil, Indonesia and among others prefer conventional warfare systems which acts as a restraint to the market growth.
  • Deployment of electronic warfare capabilities on space borne is expected to offer lucrative opportunities for the players in electronic warfare market in coming years.
  • The high cost in deployment of electronic warfare equipment is likely to act as a challenge for market growth

Global Electronic Warfare Market: Regional Overview

  • Asia-Pacific

Asia-Pacific is expected to have the highest growth rate during the forecast period. The growth is mainly driven by increasing investments in the development of electronic warfare systems, growing economy, regional territorial disputes, and R&D activities in this region. The growth in military spending of this region is the major driver for the growth in the electronic warfare market. In 2018, China was the second-largest spender in the world by reaching military spending up to USD 250 billion.

  • Europe         

In Europe, the growth is driven by high investment in procurement and developing electronic warfare systems. UK, France, Russia, and Germany are the leading countries for investing in electronic warfare technologies. Additionally, the presence of prominent players such as Leonardo S.p.A., Saab AB, Thales Group and BAE Systems in this region is driving the market growth.            

Global Electronic Warfare Market: Key Players Overview

  • Northrop Grumman Corporation.:

Northrop Grumman Corporation. is a US-based company, engaged in manufacturing weapons and provides products, systems, and solutions in aerospace, information systems, electronic and technical services. In April 2019, the company partnered with US Air force to deliver Cyber Enterprise Services which will help to identify and implement cyber capabilities on the United Platform to further enable effectiveness and efficiency of cyber missions.

  • Saab AB:

Saab AB is a Sweden-based company, which specializes in manufacturing, delivering and developing advanced products for the defense sector. The company’s product portfolio includes command and control systems, defense technology, military, and commercial aircraft, missiles, technical services, and space equipment. In November 2019, it developed a new advanced electronic attack Jammer Pod (EAJP) with a successful outcome. This was the company’s strategy to protect aircraft against radars by using jamming functions and blocking opponents' attacks.

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Rep Id : AnD 055

Published : 2020-01-28