Increasing transnational and regional instability is the major driving factor for the growth of the Electronic Warfare market.
Market Size – USD 23.40 Billion in 2021, Market Growth – CAGR of 4.1%, Market Trends – Rising tensions transnationally as well as the regional instability are the major factors driving the growth of the market.
According to the current analysis of Reports and Data, the global Electronic Warfare (EW) Market was USD 23.40 Billion in 2021 and is projected to grow at a CAGR of 4.1% from 2022 to 2030. Electronic Warfare can be defined as the warfare conducted using electromagnetic spectrum. Electronic Warfare uses radio waves or laser light usually to confuse or disable the electronics of the enemy. It can involve listening or collecting the enemy radio`s signals or sensing the radar of an incoming missile. Advanced electronic attack solutions are used to deliver the non-kinetic and digital effects while still providing a cloak of protection for the platforms. Increasing Transnational and regional instabilities is the major factor for the growth of the market. Another major factor for the growth of the market is the rising focus on Cognitive electronic warfare technology, thus spurring the demand for Electronic Warfare over the forecasted period. However, the high cost of the equipment will be the major factor obstructing the growth of the market over the forecasted period.
With the rise in the tensions politically across nations or regions, the instability is increasing which is the major factor these countries are increasingly investing in upgrading their military capabilities. U.S. is in the stage of increasing its Electronic Warfare research, development, test and evaluation funding and procurement by over 9.5% and 7.1% respectively. The market is increasingly diversified across almost every area of defense spending.
The increasing rate of electronic, cyber and optical domains will require a perceptible shift in war fighting techniques. Since the avenues of technological advancement in these fields are limitless, new generations of equipment will emerge at a rapid rate. The challenge would be to integrate them into the physical domain of war-fighting and achieve the desired effect on the adversary. The relatively new field of Quantum Computing has the potential of creating a new generation of satellite. Trends like this will help drive the market further over the forecasted period.
Key participants include L3Harris Technologies, Inc., Lockheed Martin Corporation, Harris Company, Saab AB, Boeing, Northrop Grumman, BAE Systems, Thales, Textron Inc., and HR Smith Group of Companies..
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Further key findings from the report suggest
For the purpose of this study, Reports and Data have segmented the Electronic Warfare Market on the basis of Capability, Platform, Product, and Region:
Capability Outlook (Revenue, USD Billion; 2019-2030)
Platform Outlook (Revenue, USD Billion; 2019-2030)
Product Outlook (Revenue, USD Billion; 2019-2030)
Regional Outlook (Revenue, USD Billion; 2019-2030)
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