The defense electronics market size is projected to grow from USD 220.3 billion in 2023 to USD 289.0 billion by 2028, at a CAGR of 5.6% during the forecast period. The market for defense electronics is driven by various factors, such as growing adoption of integrated defense electronic technologies and development of new-generation air and missile defense systems . However, high investment in defense electronics in early phases and high installation and upgradation costs of avionic products are limiting the overall growth of the market.
”Navigation, Communication and Display: The second largest share of the defense electronics market by vertical in 2023.”
The navigation, communication and display segment has the second largest segment of the defense electronics market by vertical in 2023. The increasing demand for avionics, integrated bridge systems and vetronics due to the increase in military deliveries is driving the growth of this segment in the defense electronics market.
” Land : The second largest segment of the defense electronics market by platform in 2023“
The airborne segment has the second largest segment of the defense electronics market by platform in 2023. Growing requirement for support systems for dismounted soldiers and increased use of unmanned ground vehicles by NATO troops and advanced militaries to boost the land segment.
“Europe to account for the third largest CAGR in the defense electronics market in forecasted year”
Europe is estimated to account for the third largest CAGR in the defense electronics in the forecasted year. The European region for this study comprises of Russia, UK, France, Germany, Italy and Rest of Europe. Rising investments in defense equipment and technologies by several European based companies and the rapid market expansion through advanced and upgrading programs is expected to drive this segment.
Break-up of profiles of primary participants in the defense electronics market: By Company Type: Tier 1 – 45%, Tier 2 – 45%, and Tier 3 – 20% By Designation: C-Level Executives – 35%, Directors – 25%, and Others – 40% By Region: North America – 30%, Europe – 30%, Asia Pacific – 20%, Middle East – 10%, ROW – 10%
Prominent companies in the defense electronics market are BAE systems plc (UK), Thales Group (France), Israel Aerospace Industries (Israel), Curtiss-Wright Corporation (US) and Hensoldt (Germany) among others. Research Coverage: The market study covers the defense electronics market across segments. It aims at estimating the market size and the growth potential of this market across different segments, such as platform, vertical and region. The study also includes an in-depth competitive analysis of the key players in the market, along with their company profiles, key observations related to product and business offerings, recent developments, and key market strategies. Key benefits of buying this report: This report will help the market leaders/new entrants in this market with information on the closest approximations of the revenue numbers for the overall defense electronics market and its subsegments. The report covers the entire ecosystem of the defense electronics industry and will help stakeholders understand the competitive landscape and gain more insights to better position their businesses and plan suitable go-to-market strategies. The report will also help stakeholders understand the pulse of the market and provide them with information on key market drivers, restraints, challenges, and opportunities.
The report provides insights on the following pointers:
Analysis of key drivers (Increasing modernization of defense electronic capabilities; Need for enhanced integrated situational awareness to support decision-making; Strengthening of joint forces by investing in defense electronic systems; Growing adoption of integrated defense electronic technologies), restraints (High investment in defense electronics in early phases; High installation and upgrade cost of avionic products; Effect on execution of critical defense missions due to lack of proper communication technology; Restraints related to technology transfer), opportunities (Growing need for new products for electronic warfare and C4ISR; Increasing use of UAVs as drone jammers; Increasing need for AI and IoT devices in military operations; Development of new-generation air and missile defense systems; Incorporation of satellite-based geospatial analytical and GIS tools), and challenges (Stringent cross-border trading policies; Supply chain issues impacting defense electronics
High cost of deployment of electronic warfare systems; Inability to address threats; Increasing cyberattacks on trade secrets and defense-related data) influencing the growth of the defense electronics market
- Product Development/Innovation: Detailed insights on upcoming technologies, research & development activities, and new product & service launches in the Defense electronics market
- Market Development: Comprehensive information about lucrative markets – the report analyses the Defense electronics market across varied regions
- Market Diversification: Exhaustive information about new products & services, untapped geographies, recent developments, and investments in the Defense electronics market
- Competitive Assessment: In-depth assessment of market shares, growth strategies and service offerings of leading players like Northrop Grumman Corporation (US), Honeywell International Inc. (US), L3 Harris Technologies Inc. (US), Leonardo SPA (Italy) and Saab AB (Sweden) , among others in the Defense electronics market