The global electronic warfare market is growing with the rapid pace. According to a recent study report published by the Market Research Future, The global market of electronic warfare will grow at a rapid pace over the forecast period. The market is forecasted to witness slow but steady growth by 2023, which will be a surplus growth at a moderate CAGR during the projected period (2017 -2023).
The high demand for electronic warfare’s is due to the growth in the military services. Many new electronic warfare centres have been setup in numerous countries in recent years. This increases the participation of regional companies in the field of electronic warfare market. Moreover, the growing demand for electronic warfare equipment’s that satisfy the demand for intelligence, surveillance and reconnaissance capabilities. Thus, the electronic warfare system is an integral part of military systems. Electronic system integrated with patrol vessels are estimated to gain higher popularity during the forecast period. The growing initiatives towards track of hostile movement enhance the growth of the electronic warfare market. However, the challenges in adoption of new technology and issues with emitter classification act as a barrier for the growth of electronic warfare market.
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Major Key Players
BAE Systems Plc. (U.K.),
General Dynamics (U.S.),
Lockheed Martin (U.S.),
Northrop Grumman (U.S.),
Mercury Systems (U.S.),
Thales (France), and Ultra Electronics (U.K.).
Industry/ Innovation/ Related News:
February, 2018 – The U.S. navy had selected BAE systems to provide equipment and support services for Space and Naval Warfare Systems Center Atlantic (SPAWAR).
June, 2017 – General Dynamics European Land Systems (GDELS) awarded a supply contract for Danish army’s new 4×4 armoured patrol vehicle program (APV). The contract has options for further variants including Electronic Warfare, Support and Reconnaissance.
The electronic warfare market is segmented based on category and platform type. On the basis of category type, the electronic support is widely used and covers the majority of electronic warfare market due to increasing adoption rate in developing countries. On the basis of the platform type, the airborne has the largest demand for the electronic warfare due to increase in the use of airborne electronic warfare electronics for military application.
The market is segmented into North America, Asia Pacific, Europe, Middle East & Africa and South America. North America region is expected to dominate the market in future due to the high adoption rate of new technology and defense capabilities. North America is followed by Asia Pacific in electronic warfare market due to the increased investment in the defense sector. In addition to that, the economic concerns in developing regions may hinder the market growth. Thus, the electronic warfare market is expected to grow at approximately 4.5% CAGR during the period 2017 to 2023.
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- Electronic warfare OEMs
- Component Suppliers
- Aftermarket suppliers
- Research Institute / Education Institute
- Potential Investors
- Key executive (CEO and COO) and strategy growth manager