Market Synopsis
Global Electronic Warfare Market is estimated to grow at a CAGR of 4.5% during the assessment period from 2019 to 2025. According to Market Research Future Reports (MRFR), the global electronic warfare market 2020 is estimated to be primarily driven by the transnational wars and disputes. The advent of cognitive electronic warfare technology is likely to be a pivotal factor leading to market growth. Besides, development in system reliability and efficiency because of the advent of traveling-wave tube-based solutions is expected to drive the market further significantly. In addition, the intense penetration of electronic and associated military equipment has led to the rise of the electronic warfare system.
The increasing inclination towards electronic warfare will eventually result in the usage of military aircraft, which will result in the growth of the electronic warfare market. The increasing popularity of electronic systems with military vehicles and unmanned aerial vehicles are projected to further fuel the market in the forthcoming period. Also, the growing requirement for counter radio-controlled improvised explosive device electronic warfare systems will further propel the market.
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However, the cutthroat competition in the military systems demands massive investment, which is likely to be an important factor acting as a hindrance in the market growth of the global electronic warfare market.
Key Players
The eminent organizations of the Worldwide Electronic Warfare Market are FishEye (US), Leonardo SpA (Italy), Saab AB (Sweden), Mercury Systems Inc. (US), Raytheon Company (US), Thales Group (France), BAE Systems PLC (UK), Ultra-Electronics (UK), General Dynamics Corporation (US), Northrop Grumman Corporation (US), and a few more.
Market Segmentation
GlobalElectronic Warfare Market can be segmented on the grounds of the platform, category type protection, and region.
On the grounds of the platform, the worldwide market for electronic warfare can be distinguished into Airborne, Naval, Land, and Unmanned.
On the grounds of category type, the worldwide market for electronic warfare can be distinguished into Electronic Support, Electronic Attack, and Electronic Protection.
On the grounds of the region, the worldwide market for electronic warfare can be distinguished into North America, Europe, Asia-Pacific, Middle East & Africa, and South America.
Geographical Analysis
The global market for electronic warfare is estimated to rise significantly during the assessment period. On the grounds of the region, the worldwide market can be distinguished into North America, Europe, Asia-Pacific, Middle East & Africa, and South America. As per the study conducted by MRFR, the global market is projected to be dominated by North America. The most significant factor leading to the growth of the regional market is the increased adoption rate of the latest technologies and the defense competencies. North America procured the largest market in 2020. The US is estimated to make the most valuable contribution. The US Department of defense makes substantial development in the electronic warfare systems. Europe is projected to acquire the second biggest market in the global electronic warfare market. Among all, Germany, the UK, France, and Russia are making the most substantial contribution due to the massive investments in the procurement and development of electronic warfare systems. In addition, the strong presence of established players in the region is further estimated to a crucial role in strengthening the regional market.
On the other hand, the APAC zone is anticipated to grow exponentially during the forecast period. The increased investment in the defense sector is likely to propel the regional market. The MEA region is predicted to grow during the assessment period. However, the region is likely to take the last position.
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