Electronic Warfare Market to Reach USD 33.52 Billion by 2028; Contract Won by Lockheed Martin for Electronic Support Measures System to Favor Market, Says Fortune Business Insights™
Pune, India, June 08, 2021 (GLOBE NEWSWIRE) -- The global electronic warfare market is expected to reach USD 33.52 billion by 2028, exhibiting a CAGR of 5.24% during the forecast period. The ever-increasing technological advancements and rising adoption of cyber-EW worldwide will contribute positively to the market’s growth during the forecast period. Cyber electronic warfare helps in refining the offensive and defensive purposes. It is capable of covering a wide range of cyberspace and the electromagnetic environment. This information is given by Fortune Business Insights™ in a new report, titled, “Electronic Warfare Market, 2021-2028.” The report further states that the market size was USD 22.50 billion in 2020.
Suspended Assembly and Delivery of Defense Equipment to Dwindle Market
The defense industry has experienced a plunged demand for military equipment during the pandemic. Moreover, the diminished production rate of tier three and tier four suppliers has slowed down the availability of electronic warfare, thus delaying the delivery of equipment. As per the study conducted by Fortune Business Insights, the ministry of defense will cover payments only for existing contracts that are already under execution, thus eliminating the need for new procurement. However, the U.S. Department of Defense (DoD) will continue to buy products, issue contracts, and accelerate payments to help small and large businesses amid the global pandemic.
List of the Leading Companies Profiled in the Global Electronic Warfare Market are:
- Raytheon Technologies Corporation (The U.S.)
- General Dynamics Corporation (The U.S.)
- L3Harris Technologies Inc. (The U.S.)
- The Boeing Company (The U.S.)
- Leonardo SPA (Italy)
- Saab AB (Sweden)
- Teledyne Technologies (The U.S.)
- Israel Aerospace Industries (Israel)
Request a Sample PDF Brochure:
Electronic Support Segment to Lead Owing to Rising Demand for ISR from Defense Sector
In terms of domain, the market is segregated into electronic support, electronic protection, and electronic attack. Out of these, the electronic support segment is expected to exhibit the largest electronic warfare market share in the coming years and remain in the leading position. This growth is attributable to the high demand for intelligence, surveillance, and reconnaissance (ISR) techniques and equipment from the defense sector worldwide.
Based on equipment, the market is classified into jammers, antennas, radar warning receiver, directed energy weapons, anti-radiation missiles, countermeasure dispenser system (CMDS), directional infrared countermeasures (DIRCM), self-protection suite, and others.
Based on platform, the EW market is segmented into air-based, sea-based, and land-based. The air-based segment is further divided into combat aircraft, airborne early warning & control (AEW&C) aircraft, and UAV.
Geographically, the market is classified into North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa.
This Report Answers the Following Questions:
- What are the current market trends?
- What are the challenges and opportunities in the market?
- Which segment is set to dominate the market?
- How are the companies trying to generate sales of EW to compete in the market?
Integration of UAVs & Electronic Warfare Systems to Spur Growth
Over the past few years, the usage of unmanned aerial vehicles (UAVs) in military forces across the globe has surged. It occurred because of the monitoring, imagery mapping, and surveillance of combat operations. The integration of surveillance data and imagery with EW can provide more information about situational awareness. It is a major factor that is set to contribute to the market growth in the coming years. Several prominent companies and ruling bodies are investing huge sums in the exploitation of this relationship between electronic warfare and UAVs. However, EE systems are very expensive. Hence, developing countries prefer conventional systems. It may hinder market growth.
Browse Detailed Summary of Research Report with TOC:
Presence of Numerous Industry Giants to Favor Growth in Europe
Geographically, North America held a prominent position in 2020. This growth is attributable to the rising terrorism, as well as political and territorial disputes occurring in this region. In addition to that, the U.S. Department of Defense (DoD) is set to invest approximately USD 25.8 billion in the research, development, test, and evaluation (RDT&E) in the coming years. Also, it is planning to spend around USD 27.8 billion to procure electronic warfare systems. It would also propel the market growth in this region.
Europe, on the other hand, is set to remain in the second position stoked by the presence of major companies, such as Saab AB, BAE Systems, and Thales Group in this region. Also, the rising investments in the development and procurement of electronic type of warfare systems would augment growth. Asia Pacific would exhibit rapid growth backed by the need to enhance the warfighting capabilities of the defense forces in developing countries, such as India and China.
Renowned Companies Focus on Receiving New Contracts from Defense Forces
The market is fragmented with the presence of a large number of companies worldwide. Amongst them, Lockheed Martin Corporation is in the top position on account of its persistent research and development activities to unveil state-of-the-art products in the market. Nowadays, several companies are focusing on bagging new contracts from government agencies to deliver their in-house products.
Below are a couple of the latest industry developments:
- January 2020: Lockheed Martin Corporation received a new contract from the U.S. Navy. It is worth USD 43 million. It would help the company to upgrade the E-2D AN/ALQ-217 Electronic Support Measures (ESM) system of the E-2D Advanced Hawkeye.
- October 2020: The Indian Ministry of Defence (MoD) successfully tested the New Generation Anti-Radiation Missile (Rudram-1), India’s first indigenous anti-radiation missile developed by Defense Research and Development Organization (DRDO)
Inquire Before Buying This Research Report:
Detailed Table of Content:
- Research Scope
- Market Segmentation
- Research Methodology
- Definitions and Assumptions
- Executive Summary
- Market Dynamics
- Market Drivers
- Market Restraints
- Market Opportunities
- Emerging Trends
- Key Insights
- Overview of the Parent/Related Markets
- Industry SWOT Analysis
- Regulatory Analysis
- Recent Industry Developments - Policies, Partnerships, New Product Launches, and Mergers & Acquisitions
- Quantitative Insights- Impact of COVID-19 Pandemic on Global Electronic Warfare Market
- Impact of the COVID-19 pandemic on the Global Electronic Warfare Market
- Steps taken by Industry/ Companies/ Governments to overcome the impact
- Key Developments in the Industry in Response to COVID-19 pandemic
- Potential opportunities due to COVID-19 Outbreak
- Global Electronic Warfare Market Analysis, Insights and Forecast, 2017-2028
- Segment Definitions
- Market Size Estimates and Forecast - By Domain
- Electronic Attack
- Electronic Protection
- Electronic Support
- Market Size Estimates and Forecast - By Equipment
- Radar Warning Receiver
- Directed Energy Weapons
- Anti-radiation Missiles
- Countermeasure Dispenser System (CMDS)
- Directional Infrared Countermeasure (DIRCM)
- Self-Protection EW Suite
- Market Size Estimates and Forecast - By Platform
- Combat Aircraft
- Airborne Early Warning & Control (AEW&C)
- Unmanned Aerial Vehicles (UAVs)
- Market Size Estimates and Forecast - By Region
- North America
- Asia Pacific
- Rest of the World
Speak to Our Expert:
Have a Look at Related Research Insights:
C5ISR Market Size, Share and Industry Analysis, By Type (Land, Naval, Airborne, Space), By Application (Electronic Warfare, Surveillance and Reconnaissance, Intelligence, Command, and Control), By Solution (Product and Services), and Regional Forecast, 2019- 2026
Security Solutions Market Size, Share and Industry Analysis, By Type [(Product: Fire Protection, Video Surveillance, Access Control, Entrance Control, Intruder Alarms, Thermal Cameras) and Services: Security Systems Integration, Remote Monitoring Services, Fire Protection Services, Video Surveillance Services], By End-User (Commercial, Residential, Industrial, Government), and Regional Forecast, 2019- 2026
Military Radar Market Size, Share & COVID-19 Impact Analysis, By Platform (Airborne Radar, Ground Radar, Naval Radar), By Range (Long, Medium, Short, Very Short), By Application (Weapon Guidance, Airspace Monitoring & Traffic Management, Airborne Mapping), By Frequency (C-Band, S-Band, X-Band, L-Band, UHF/VHF), By Component (Transmitter, Antenna, Receiver), and Regional Forecast, 2020-2027
Homeland Security and Emergency Management Market Size, Share and Industry Analysis, By System (Modeling And Simulation, Communication System, Rescue And Recovery Systems, Intelligence And Surveillance System, Detection And Monitoring System, Weapon System,), By End Use (Cyber Security, CBRNE Security, Aviation Security, Maritime Security, Law Enforcement and Intelligence Gathering, Critical Infrastructure Security), and Regional Forecast, 2020- 2027
Fortune Business Insights™ delivers accurate data and innovative corporate analysis, helping organizations of all sizes make appropriate decisions. We tailor novel solutions for our clients, assisting them to address various challenges distinct to their businesses. Our aim is to empower them with holistic market intelligence, providing a granular overview of the market they are operating in.
US:+1 424 253 0390
UK: +44 2071 939123
APAC: +91 744 740 1245