Portland, OR, May 26, 2021 (GLOBE NEWSWIRE) – According to a report published by Allied Market Research, the global e-war market generates $ 15.81 billion in 2020 and is expected to reach $ 23.56 billion by 2028, increasing at a CAGR of 5.6% from 2021 to 2028.
The increase in the introduction of e-war systems due to increasing territorial and interstate conflicts, the growing need for surveillance, intelligence and self-defense capabilities, increasing demand for ABM detection systems, and the development of military technology have stimulated the growth of a global electronic warfare. However, the high cost of deployment and the vulnerability of e-war systems to cyberattacks are hampering market growth. On the contrary, rising defense spending and the introduction of electronic protection systems in civil aviation are expected to open up lucrative opportunities for market participants in the future.
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Covid-19 script:
- The Covid-19 pandemic has forced several governments to impose strict rules on blocking and social distancing to limit the spread of the virus. This led to a decline in world trade and demand for e-war.
- Prolonged blocking has slowed down activities and initiatives to develop innovative e-war solutions.
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The global e-war market is segmented based on capabilities, equipment, product, platform and region. Based on opportunities, the e-Support segment held the lion’s share in 2020, accounting for almost half of the market. However, the e-protection segment is estimated at the highest CAGR of 6.4% over the forecast period.
Based on the platform, the air segment has the largest share in 2020, contributing about two-fifths of the market. In addition, the segment is expected to record the highest CAGR of 6.1% over the forecast period.
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The global e-war market is being analyzed in several regions such as North America, Europe, Asia-Pacific and LAMEA. The North American market held the lion’s share in 2020, accounting for almost a third of the market. However, the Asia-Pacific market is expected to record the highest CAGR of 6.4% over the forecast period.
The global e-war market includes an in-depth analysis of major market players such as Elbit Systems Ltd., BAE Systems plc, Israel Aerospace Industries Ltd. (IAI), General Dynamics Corporation, Leonardo SpA, L3Harris Technologies, Inc., Northrop Grumman Corporation, Lockheed Martin Corporation, SAAB AB, Raytheon Technologies Corporation and Thales Group.
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