Electronic Warfare Market to Reach USD 33.52 Billion by
Pune, India, June 8, 2021 (GLOBE NEWSWIRE) – The Global e-war market is expected to reach $ 33.52 billion by 2028, showing a CAGR of 5.24% over the forecast period. Continued technological advances and the growing adoption of cyber-REB worldwide will contribute positively to market growth over the forecast period. Cyber e-war helps to improve offensive and defensive targets. It is able to cover a wide range of cyberspace and the electromagnetic environment. This information was provided by Fortune Business Insights ™ in a new report entitled “Electronic Warfare Market, 2021-2028. “In addition, the report states that the market size was $ 22.50 billion in 2020.
Suspended assembly and delivery of defense equipment to the Dwindle market
During the pandemic, the defense industry experienced a reduced demand for military equipment. Moreover, the reduced production rate of third- and fourth-level suppliers has slowed down the existence of electronic warfare, thus slowing down the supply of equipment. According to a study conducted by Fortune Business Insights, the Department of Defense will only cover payments for existing contracts that are already in progress, thus eliminating the need for new orders. However, the US Department of Defense (DoD) will continue to buy products, issue contracts and speed up payments to help small and large businesses in the global pandemic.
The list of leading companies profiled in the global e-war market are:
- Raytheon Technologies Corporation (USA)
- General Dynamics Corporation (USA)
- L3Harris Technologies Inc. (USA)
- Boeing (USA)
- Leonardo SPA (Italy)
- Saab AB (Sweden)
- Teledyne Technologies (USA)
- Israel Aerospace Industries (Israel)
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The e-Support segment will be leading due to the growing demand for ISR from the defense sector
In terms of domain, the market is divided into electronic support, electronic protection and electronic attack. Of these, the e-support segment is expected to show the largest market share for e-war in the coming years and to remain in the lead. This growth is due to the high demand for intelligence, surveillance and reconnaissance (ISR) techniques and equipment worldwide.
Based on the equipment, the market is classified into interference devices, antennas, radar warning receiver, directed energy weapons, anti-radiation missiles, counter-dosing system (CMDS), directed infrared countermeasures (DIRCM), self-defense kit and others.
Based on the platform, the EW market is divided into air, sea and land. The air-based segment is further divided into combat aircraft, early warning and control aircraft (AEW & C) and UAVs.
Geographically, the market is classified in 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 do companies try to generate EW sales to compete in the market?
Integration of UAVs and e-war systems to stimulate growth
In the last few years, the use of unmanned aerial vehicles (UAVs) in military forces around the world has increased. This happened due to the observation, mapping of images and monitoring of combat operations. Integrating surveillance data and images with EW can provide more information about situation awareness. This is a major factor that should contribute to market growth in the coming years. Several well-known companies and governing bodies are investing huge sums in using this link between electronic warfare and UAVs. However, EE systems are very expensive. Therefore, developing countries prefer conventional systems. This may hinder market growth.
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Presence of numerous industrial giants in favor of growth in Europe
Geographically, North America occupies a prominent position in 2020. This growth is due to growing terrorism, as well as political and territorial disputes arising in this region. In addition, the United States Department of Defense (DoD) will invest approximately $ 25.8 billion in research, development, testing and evaluation (RDT & E) in the coming years. It also plans to spend about $ 27.8 billion on e-warfare systems. This will also stimulate market growth in this region.
Europe, on the other hand, will remain in second place, supported by the presence of large companies such as Saab AB, BAE Systems and the Thales Group in the region. Also, increasing investment in the development and supply of electronic types of combat systems would increase growth. The Asia-Pacific region will show rapid growth, supported by the need to strengthen the combat capabilities of defense forces in developing countries such as India and China.
Well-known companies are focusing on obtaining new contracts from the defense forces
The market is fragmented with the presence of a large number of companies around the world. Among them, Lockheed Martin Corporation is at the forefront due to its constant research and development activities to present the most modern products on the market. Nowadays, several companies are focusing on packaging new contracts from government agencies to supply their domestic products.
Below are some of the latest industrial developments:
- January 2020: Lockheed Martin Corporation receives new contract from US Navy. It is worth $ 43 million. This would help the company upgrade the E-2D AN / ALQ-217 Electronic Support Measures (ESM) system of the E-2D Advanced Hawkeye.
- October 2020: Indian Ministry of Defense (Ministry of Defense) successfully tests new next-generation radiation missile (Rudram-1), India’s first local anti-radiation missile developed by the Defense Research and Development Organization (DRDO)
Inquiry before purchasing this study report:
- Scope of the study
- Market segmentation
- research methodology
- Definitions and assumptions
- Market dynamics
- Engines on the market
- Market restrictions
- Market opportunities
- Emerging trends
- Key insights
- Overview of parent / related markets
- SWOT analysis of the industry
- Regulatory analysis
- Latest developments in the industry – policies, partnerships, launch of new products and mergers and acquisitions
- Quantitative Insights – The Impact of the COVID-19 Pandemic on the 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
- Major developments in the industry in response to the COVID-19 pandemic
- Potential opportunities due to the COVID-19 outbreak
- Global Electronic Warfare Market Analysis, Statistics and Forecast, 2017-2028
- Segment definitions
- Estimates of market size and forecast – by domain
- Electronic attack
- Electronic protection
- Electronic support
- Estimates of market size and forecast – by equipment
- Radar warning receiver
- Targeted energy weapon
- Anti-radiation missiles
- Counterfeit Dispenser System (CMDS)
- Targeted Infrared Response (DIRCM)
- EW Suite for self-defense
- Market size estimates and forecast – by platform
- Air based
- Fighter plane
- Early warning and air control (AEW & C)
- Unmanned aerial vehicles (UAVs)
- On a sea basis
- Air based
- Estimates of market size and forecast – by regions
- North America
- Asia-Pacific region
- The rest of the world
TOC Continues …!
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