Electronic Warfare Market Poised to Witness High Growth Owing to Increasing Usage of EW Systems Across Military and Defense Sectors

Electronic Warfare Market

Electronic warfare (EW) systems are used for detecting, deceiving or damaging enemy’s communication and radar systems. It involves deliberate emission or suppression of electromagnetic energy to maintain information dominance. EW systems find wide applications across military, including land, sea, air and space operations for counteracting threats from armed forces of other nations. The need for situational awareness and gaining tactical advantage over opponents has catalyzed demand from armed forces globally.

The global electronic warfare market is estimated to be valued at US$ 18.45 Bn in 2024 and is expected to exhibit a CAGR of 5.7% over the forecast period 2024 to 2031. 

Key players operating in the electronic warfare market are BAE Systems plc, Elbit Systems Ltd., General Dynamics Corporation, Israel Aerospace Industries Ltd., L3Harris Technologies Inc., Leonardo SpA, Lockheed Martin Corporation, Northrop Grumman Corporation, Raytheon Technologies Corporation, SAAB AB, Thales Group, Mistral Solutions Pvt. Ltd., Chelton Limited, Rafael Advanced Defense Systems Ltd, Rohde Schwarz India Pvt Ltd, QUEST GLOBAL, Mercury Systems, Inc., IAI, DRDO, TEKTRONIX, INC., and Tata Advanced Systems Limited.

Key Takeaways

Key players: Key players in the electronic warfare market include BAE Systems, Elbit Systems, General Dynamics, Israel Aerospace Industries focusing on developing more advanced EW systems for detection and protection against threats.

Key opportunities: Growing adoption of Electronic Warfare Market Size across naval, land, and air platforms is expected to generate significant opportunities. Additionally, developments in directed energy weapons, laser and microwave technology will further accelerate market revenues.

Global expansion: Leading players are investing to expand geographic footprint and cater to increasing global demand. North America holds largest share currently but Asia Pacific is emerging as high growth market with countries like India and China ramping up defense budgets.

Market Drivers

Increasing usage of EW systems across military forces globally to gain tactical edge over opponents is a key market driver. Also, rising threats from non-state actors have necessitated advanced surveillance capabilities. Furthermore, rapid development of directed energy weapons is expected to bolster demand for countermeasure electronics and fuel market growth over forecast period. Ongoing modernization programs in both developed and developing regions are further supporting expansion of electronic warfare market.

PEST Analysis

Political: The electronic warfare market is affected by government defense budgets and policies. Changing priorities and spending levels impact demand for electronic warfare systems.

Economic: Economic conditions influence defense spending by governments and militaries, which are major procurers of electronic warfare systems. During recession, military budgets may be cut which has implications for procurement.

Social: Societal support for defense capabilities and willingness to fund national security needs impacts investment in electronic warfare systems by nations. Perceptions around types of conflicts also shape procurement needs.

Technological: Advancements in electronic communications, sensor technologies, networking and data processing are driving innovation in electronic warfare systems. New capabilities in threat domains inspire continued R&D into defensive and offensive EW techniques.

The geographical regions where the electronic warfare market is concentrated in terms of value include North America and Europe. Large defense budgets and presence of leading manufacturers in countries like the US, UK, France and Germany contribute to market concentration in these regions.

The Asia Pacific region is witnessing the fastest growth in the electronic warfare market. Increasing defense modernization programs and budgets in countries like China, India, Japan and South Korea are providing a boost. Rising geopolitical tensions and security challenges are also prompting nations in Asia Pacific to invest more in electronic warfare capabilities.

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