Electronic Warfare Market Set to Grow at the Fastest Rate- Time to Grow your Revenue

Northbrook, USA, 2021-Sep-27 — /EPR Network/ —

The report “Electronic Warfare Market by Capability (Support, Attack, Protection), Platform (Airborne, Naval, Ground, Space), Product (EW Equipment, EW Operational Support), and Region – Global Forecast to 2025″, size is projected to grow from USD 17.0 billion in 2020 to USD 20.9 billion by 2025, at a CAGR of 4.2% from 2020 to 2025. Significant technological advancements and integration of electronics in military equipment are resulting in a shift towards multilayered defense systems, which is expected to drive the electronic warfare market during the forecast period. Adding to these factors, the increase in the use of UAV systems and the need for ground surveillance and communication jamming serve as opportunities for the electronic warfare market.

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Electronic warfare is now among the crucial requirements of the defense and intelligence agencies across countries. Hence, military and intelligence agencies are the key end-users, showcasing greater demand for electronic warfare equipment. Some industry experts have noted that the COVID-19 pandemic has not affected the demand for electronic warfare, especially for military end use. Companies such as Lockheed Martin Corporation (US), Northrop Grumman Corporation (US), Elbit Systems Ltd. (Israel), and L3Harris Technologies (US) received contracts for the supply of electronic warfare to the armed forces of various nations in the first half of 2020, showcasing continuous demand during the COVID-19 crisis.

However, due to the precautionary measures undertaken by government agencies to minimize the spread of COVID-19, many manufacturing facilities have been temporarily closed, which has resulted in delays in order deliveries. This trend seems to vary with countries in 2020. While countries in Europe show steady growth in demand for electronic warfare; a more significant increase in demand is observed in North America. Below are some important developments that showcase the increase in demand for electronic warfare in the defense sector during the COVID-19 crisis in the North American region.

Increasing spending on the modernization of armed forces is driving the growth of the defense applications

Military expenditures of countries in the Middle East and Asia remain unaffected despite economic crises. The US and European countries have reduced their military spending over the years. However, Russia has increased its military spending, thereby becoming the third-largest military-spending nation in the world, with plans to modernize its military equipment. The Arab Spring affected the military spending of some Middle Eastern and North African nations. There has also been a shift of global power toward Asia, which has an invariable impact on military spending. The shift of global power is primarily due to the rapid economic growth and increase in the military spending of countries such as China, India, Korea, and Japan.

Electronic warfare equipment sub segment of the electronic warfare market by product is projected to witness the highest CAGR owing to increasing focus on defence equipment upgradation across the globe

Based on product, the electronic warfare market has been segmented into electronic warfare equipment and electronic warfare operational support. The electronic warfare equipment segment is expected to grow at a higher CAGR owing to the increasing procurement of electronic warfare equipment for the ugaradation of various platforms such as naval vessel, land vehicle and aircraft due to benefits such as advance electronic protection,electronic attack and electronic support applications.

The North America market is projected to contribute the largest share from 2020 to 2025 in the electronic warfare market

The US and Canada are key countries considered for market analysis in the North American region. This region is expected to lead the market from 2020 to 2025, owing to increased investments in electronic warfare technologies by countries in this region. Defense forces of countries in the North American region are involved in the development of technologically advanced EW systems. Well-established and prominent manufacturers of electronic warfare systems in this region include Lockheed Martin (US), Northrop Grumman (US), L3Harris Technologies, Inc. (US), and Raytheon (US).

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The North America US is recognized as one of the key manufacturers, exporters, and users of EW systems worldwide and is known to have the strongest EW capabilities. Key manufacturers of EW systems in the US include Lockheed Martin, Northrop Grumman, L3Harris Technologies, Inc., and Raytheon. The new defense strategy of the US indicates an increase in EW spending to include advanced capabilities in existing defense systems of the US Army to counter incoming threats.

The Electronic Warfare market is dominated by a few globally established players such as as BAE Systems Plc. (UK), Northrop Grumman Corporation (US), Raytheon Technologies Corporation (US), Lockheed Martin Corporation (US), Thales Group (US), L3Harris Technologies, Inc. (US), Israel Aerospace Industries (Israel), and SAAB AB (Sweden), among others.

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