Global Electronic Warfare Market is anticipated to exhibit a 4.03% CAGR during the forecast period. Electronic Warfare has become a crucial part of any country’s defense planning due to the rising dependence on Electromagnetic Waves. In the era of Information Technology, almost every process requires some means of wireless communication, and having robust electronic warfare efficiency is a must. Furthermore, countries around the world are focusing on expanding counter-terrorism measures to protect lives and ensure safety. Therefore, electronic warfare systems are important in improving situational awareness and for defending and attacking purposes.
Global Electronic Warfare Market is expected to register an incredible market expansion owing to the rising transnational disputes & wars, the emergence of cognitive electronic warfare technology, and the growing use of integrated electronic warfare systems. However, the preference of emerging economies to procure traditional warfare systems rather than electronic warfare systems and vulnerability to cyberattacks are some factors that are likely to restrain the growth of the global market during the review period.
Global Electronic Warfare Market has been classified into Category, Product, Platform, and Region.
Based on Category type, the global electronic warfare market has been classified into electronic attack (EA), electronic support (ES), and electronic protection (EP).
In terms of product segment, the global electronic warfare market has been categorized into jammers, and countermeasure system, decoy, directed energy weapon, 2G antennas, 3G antennas, 4G antennas, 5G antennas, and others.
Based on platform type, the global electronic warfare market is segregated into land-based, airborne, and naval.
In terms of region, the electronic warfare market has been studied across North America, Europe, Asia-Pacific, the Middle East & Africa, and Latin America.
Geographically, Electronic Warfare Market has been classified into North America, Europe, Asia-Pacific, the Middle East & Africa, and Latin America.
North America accounted for the largest market share of 43.15% in 2019. The region is anticipated to be the largest market for electronic warfare during the review period. Asia-Pacific is anticipated to be the rapidly growing market to exhibit a CAGR of 5.16% during the review period.
The regional market growth is attributed to the rising product demand from military forces and homeland security agencies. There have been many territorial disputes along the India-Pakistan and India
China borders, and in the Indian Ocean, the Himalayas, and the South China Sea. This has led the militaries of these countries and neighboring countries to adopt electronic warfare to counter the rise in cross-border activities. Major manufacturers are also concentrating on developing electronic warfare with advanced technologies to surge combat capabilities.
The Prominent Players in the Global Electronic Warfare Market include BAE Systems (UK), General Dynamics Corporation (US), Lockheed Martin Corporation (US), Raytheon Technologies Corporation (US), Saab AB (Sweden), Northrop Grumman Corporation (US), Thales Group (France), Boeing (US), Leonardo SpA (Italy), and HENSOLDT (Germany).
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