ELECTRONIC WARFARE MARKET SIZE AND SHARE ANALYSIS - GROWTH TRENDS AND FORECASTS (2024-2031)
The electronic warfare market is estimated to be valued at USD18.45 Billion in 2024 and is expected to reach USD 27.35 Billion by 2031, growing at a compound annual growth rate (CAGR) of 5.8% from 2024 to 2031.
Report Description:
The electronic warfare market has been witnessing significant growth in recent years driven by evolving threats and increasing defense modernization programs across major countries. Various nations are increasingly procuring advanced electronic warfare systems to gain dominance on the digital battlefield. There is a growing need for precision targeting and network-centric warfare capabilities to counter emerging challenges. This has prompted military forces to invest in new generation technologies like radar warning receivers, electronic support, and electronic attack. Moreover, the incorporation of Artificial Intelligence and machine learning is expected to transform electronic warfare applications. Overall, the increasing sophistication of military hardware and networks is anticipated to act as a key demand generator for electronic warfare systems in the coming years.
Market Dynamics:
The primary growth drivers for the electronic warfare market include rising geopolitical tensions, upgrading of armed forces, and advancement of weaponry systems. However, high procurement cost of Electronic Warfare technologies and budgetary constraints of some nations are impacting the market growth. On the opportunity side, the development of novel EW strategies for hybrid warfare and counter Unmanned Ariel Vehicle solutions are defining new avenues. Additionally, the emergence of network-centric operations and integration of EW with unmanned platforms are expanding the application scope going forward.
Key features of the study:
- This report provides an in-depth analysis of the global electronic warfare market, and provides market size (US$ Billion) and compound annual growth rate (CAGR %) for the forecast period (2024–2031), considering 2023 as the base year
- It elucidates potential revenue growth opportunities across different segments and explains attractive investment proposition matrices for this market
- This study also provides key insights about market drivers, restraints, opportunities, new product launches or approvals, market trends, regional outlook, and competitive strategies adopted by key players
- It profiles key players in the global electronic warfare market based on the following parameters – company highlights, products portfolio, key highlights, financial performance, and strategies
- Key companies covered as a part of this study include BAE Systems plc, Elbit Systems Ltd., General Dynamics Corporation, Israel Aerospace Industries Ltd., L3Harris Technologies Inc., Leonardo SpA, Lockheed Martin Corporation, Northrop Grumman Corporation, Raytheon Technologies Corporation, SAAB AB, Thales Group, Mistral Solutions Pvt. Ltd., Chelton Limited, Rafael Advanced Defense Systems Ltd, Rohde & Schwarz India Pvt Ltd, QUEST GLOBAL, Mercury Systems, Inc., IAI, DRDO, TEKTRONIX, INC., and Tata Advanced Systems Limited are the major players
- Insights from this report would allow marketers and the management authorities of the companies to make informed decisions regarding their future product launches, type up-gradation, market expansion, and marketing tactics
- The global electronic warfare market report caters to various stakeholders in this industry including investors, suppliers, product manufacturers, distributors, new entrants, and financial analysts
- Stakeholders would have ease in decision-making through various strategy matrices used in analyzing the global electronic warfare market
Market Segmentation
Market Segmentation
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