How Has The Electronic Warfare Market Size Evolved Historically?
The electronic warfare market has seen considerable growth due to a variety of factors.
• The size of the electronic warfare market has experienced consistent growth over the past few years. Its projected growth is from $29.15 billion in 2024 to $30.22 billion in 2025, indicating a compound annual growth rate (CAGR) of 3.7%.
Factors such as military modernization initiatives, the requirement for spectrum dominance, and the development of electronic countermeasures have propelled this growth in the historical period.
What Will Be The Electronic Warfare Market Size In The Future?
The electronic warfare market is expected to maintain its strong growth trajectory in upcoming years.
• The market size of electronic warfare is predicted to experience substantial growth in the upcoming years, with its value hitting $39.58 billion in 2029, growing at a compound annual growth rate (CAGR) of 7.0%.
This growth during the projected period can be associated with the improvement in electronic support measures, better directed energy weapons, hypersonic threats and EW, and space-based EW systems. Among the primary trends during this period include convergence of cyber-electronic, quantum technologies being incorporated into electronic warfare, cutting-edge electronic support measures, future radar technologies, partnership with industry collaborators, and maneuver warfare using electromagnetic.
What Are The Key Drivers Fueling Growth In The Electronic Warfare Market?
The rise in defense funding is predicted to boost the expansion of the electronic warfare market. This funding, often known as the defense budget, constitutes the entirety of a nation's financial allocation for its military and related needs. Electronic warfare's capabilities enhance the efficiency and cost-effectiveness of defense operations, while also protecting military resources and personnel. For instance, in April 2023, the Swedish-based organization SIPRI (Stockholm International Peace Research Institute) reported a 3.7% growth in global military spending in 2022, reaching the historic high of $2240 billion. China's defensive budget also saw an increase for the 26th consecutive year. Hence, the rising defense spending fuels the progression of the electronic warfare market.
What Are The Principal Market Segments In The Global Electronic Warfare Industry?
The electronic warfare market market covered in this report is segmented –
1) By Products: EW Equipment, Electronic Warfare Operational Support (EWOS)
2) By Capability: Electronic Protection, Electronic Support, Electronic Attack
3) By Platform: Land, Naval, Airborne, Space
Subsegments:
1) By EW Equipment: Jammers, Electronic Support Measures (ESM) Systems, Electronic Attack Systems, Electronic Protection Systems, Countermeasure Systems
2) By Electronic Warfare Operational Support (EWOS): Training And Simulation Services, Mission Planning And Support, Intelligence, Surveillance, And Reconnaissance (ISR) Support, Maintenance And Logistics Support
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Which Emerging Market Trends Are Altering The Electronic Warfare Sector?
The electronic warfare market is seeing a significant shift towards product innovations, with primary industry players focusing on developing new and unique offerings such as electronic warfare counter-drone systems to boost their market profits. An electronic warfare counter-drone system is an advanced tech solution created to identify, monitor, and neutralize threats posed by unauthorized or malicious drones. It uses electronic warfare methodologies and technologies for protection against drone-induced security threats. For instance, in June 2023, Israel-based defense tech firm Elbit Systems Ltd introduced an electronic warfare counter-drone system. Equipped with digital Radar Warning Receivers (RWR), this system is crafted to tackle drone threats. The system has the ability to pinpoint the location of ground troops and pilots' personal location beacons (PLBs) while identifying and classifying drones. These digital radar receivers can be adapted with extra processing power, enabling them to categorize drones as threats. This latest radar warning receiver technology is a direct response to the increasingly dangerous issue posed by drones to both military and commercial aircraft, and aims to locate and classify these drones as threats.
Who Are the Key Players in the Electronic Warfare Market?
Major companies operating in the electronic warfare market market include:
• Lockheed Martin Corporation
• BAE Systems PLC
• Saab AB
• RTX Corporation
• Thales Group
• General Dynamics Corporation
• L3Harris Technologies Inc.
• Northrop Grumman Corporation
• Israel Aerospace Industries Ltd.
• Leonardo SPA
• Teledyne Technologies Inc.
• Elbit Systems Ltd.
• The Boeing Company
• Textron Inc.
• ASELSAN AS
• Hensoldt AG
• Cobham Plc
• Cohort plc
• Mercury Systems Inc.
• Chemring Group PLC
• Ultra Electronics Holdings plc
• Kratos Defense & Security Solutions Inc.
• Elettronica S. p. A.
• Rohde & Schwarz GmbH & Co. KG
• Terma A/S
• Indra Sistemas SA
• RADA Electronic Industries Ltd.
• QinetiQ Group PLC
• SRC Inc.
What are the Regional Insights into the Electronic Warfare Market?
North America was the largest region in the electronic warfare market in 2024.Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the electronic warfare market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
