(PharmaNewsWire.Com, July 05, 2024 ) The Global Electronic Warfare Market is experiencing significant growth, valued at USD 10.8 billion in 2023 and projected to reach USD 19.4 billion by 2028, with a robust CAGR of 12.5%. EW encompasses the use of the electromagnetic spectrum, including radio, infrared, and radar signals, for sensing, protection, and communication purposes. It also includes the capability to disrupt, deny, and degrade the adversaries' use of these signals. This makes EW a critical tool for managing the electromagnetic spectrum, enabling countries to detect, analyze, and track potential threats.
Several factors are driving the growth of the EW market:
Geopolitical Tensions: Rising geopolitical tensions are increasing the demand for advanced defense capabilities, including EW systems.
Technological Advancements: Continuous technological advancements in sensor technology and cyber defense are enhancing the effectiveness of EW solutions.
Increased Electronic Threats: The proliferation of electronic threats necessitates robust EW capabilities for defense and security.
Leading Players
Major Key Market Players in the EW market include:
BAE Systems (UK)
Raytheon Technologies Corporation (US)
Northrop Grumman (US)
L3Harris Technologies, Inc. (US)
Lockheed Martin Corporation (US)
Israel Aerospace Industries (Israel)
Elbit Systems (UK)
These companies leverage advanced technologies to develop innovative EW solutions for military and government applications.
Market Segmentation
By Platform
Ground
Naval
Airborne
Space
The space segment is expected to lead the market with the highest CAGR from 2023 to 2028. This growth is driven by the increasing reliance on satellite communications and navigation systems, which are vulnerable to electronic threats. The proliferation of space-based sensors and satellites also boosts the demand for EW solutions to safeguard these assets.
By Capability
Electronic Support
Electronic Attack
Electronic Protection
The electronic attack segment is expected to dominate the market due to the need to disrupt and neutralize adversary communication and radar systems. Technological advancements and rising geopolitical tensions further drive the demand for electronic attack capabilities.
By End-Use
OEMs
Aftermarket
The OEMs segment is anticipated to have the highest CAGR, driven by their role in designing and producing advanced EW systems. OEMs' established relationships and reputation for delivering comprehensive solutions, including maintenance and support services, give them a competitive edge.
By Product
Electronic Warfare Equipment
Operational Support
Regional Analysis
The Middle East is expected to have the highest CAGR in the EW market during 2023-2028. This is due to the region's geopolitical landscape, characterized by ongoing conflicts and tensions, which drives the demand for advanced defense technologies. Governments in the Middle East are heavily investing in military modernization and technological advancements to enhance their defense capabilities.
MarketsandMarkets™ has been recognized as one of America’s best management consulting firms by Forbes, as per their recent report.
MarketsandMarkets™ is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. We have the widest lens on emerging technologies, making us proficient in co-creating supernormal growth for clients.
Earlier this year, we made a formal transformation into one of America's best management consulting firms as per a survey conducted by Forbes.
The B2B economy is witnessing the emergence of $25 trillion of new revenue streams that are substituting existing revenue streams in this decade alone. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines - TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing.
Built on the 'GIVE Growth' principle, we work with several Forbes Global 2000 B2B companies - helping them stay relevant in a disruptive ecosystem. Our insights and strategies are molded by our industry experts, cutting-edge AI-powered Market Intelligence Cloud, and years of research. The KnowledgeStore™ (our Market Intelligence Cloud) integrates our research, facilitates an analysis of interconnections through a set of applications, helping clients look at the entire ecosystem and understand the revenue shifts happening in their industry.
We are pleased to offer you this exciting, new, and entirely free professional resource. Visit our Free Biotechnology & Pharmaceuticals resource center today to browse our selection of 600+ complimentary Biotechnology & Pharmaceuticals magazines, white papers, webinars, podcasts, and more. Get popular titles including:
