The global electronic warfare market is anticipated to be valued at USD 18,588.3 million in 2023. The market is anticipated to expand at a CAGR of 5.7%, surpassing a valuation of USD 32,459.9 million by 2033. From 2018 to 2022, a CAGR of 3.6% was registered for the electronic warfare market.
In the dynamic landscape of the defense industry, electronic warfare (EW) emerges as a pivotal market, shaping how modern militaries operate. While warships, fighter aircraft, battle tanks, and submarines are widely known, EW introduces a concealed battle involving radar emissions and radio waves in the atmosphere. This silent yet critical conflict employs focused energy, such as laser light and radio waves, to disrupt or incapacitate the enemy's electronic systems, bolstering the demand for advanced electronic warfare solutions.
Originating during World War II, electronic warfare has undergone remarkable advancements, resulting in specialized and sophisticated electronic warfare systems. As a sought-after military action, it utilizes electromagnetic energy to gain control, exploit vulnerabilities, reduce threats, and thwart hostile use of the electromagnetic spectrum. The market for electronic warfare experiences steady growth as it addresses the need for cutting-edge technology to detect and counter incoming missile radars while intercepting enemy radio signals. This presents a wealth of opportunities for companies to develop innovative electronic warfare solutions that cater to the evolving needs of armed forces worldwide.
| Report Attribute | Details |
|---|---|
| Growth Rate (2018 to 2022) | 3.6% CAGR |
| Projected Growth Rate (2023 to 2033) | 5.7% CAGR |
| Expected Market Value (2023) | USD 18,588.3 million |
| Anticipated Forecast Value (2033) | USD 32,459.9 million |
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Technological Advancement in Warfare Technology to Drive the Growth of the Electronic Warfare Market in the Forecasting Period: Development in the electromagnetic spectrum drives the use of electronic equipment and associated weapon systems, which are required to sense and counter these weapons and are included among the factors driving the electronic warfare market growth. Increasing adoption of visual and infrared techniques, such as laser and other technologies, is expected to encourage the growth of the electronic warfare market.
Electronic warfare has become an essential requirement of the strategic landscape for all warfighters. Situations such as political conflicts, territorial disputes, and cold wars are expected to positively impact the electronic warfare market. The increasing popularity of small electronic systems that can be integrated within platforms such as unmanned systems is also expected to drive electronic warfare market growth.
Other factors that positively impact the electronic warfare market include increased system reliability, efficiency, and effectiveness due to the introduction of traveling-wave tube (TWT) technology used for electronic warfare applications and the emergence of cognitive electronic warfare technology.
Stringent rules and regulations related to research and development may impede the market's growth. Lack of technical know-how, adaptability to new technology, and the laws formed to limit the investment dedicated to R&D in this sector in some regions are included among a few restraints that negatively impact the growth of the global electronic warfare market.
The presence of leading electronic warfare providers in the region provides an opportunity for market growth. As per FMI, the North American market is slated to account for 35.9% of the total market share. Increasing investments in the expansion of the military sector are encouraging product development, which is expected to augment the market's growth in North America. Technological breakthroughs and continuing military modernization projects in numerous countries are creating opportunities in the region, which are projected to boost demand for electronic warfare over the forecast period. Increasing technological advancements and leading manufacturers' R&D initiatives in the United States and Canada have also led to major advances.
In 2022, Europe is predicted to lead the electronic warfare market and will continue to do so throughout the forecast period. The European electronic warfare market currently accounts for 23.9% of the global market share. The electronic warfare market in the region is likely to be driven by military equipment upgrades across Russia, the United Kingdom, France, and Germany, as well as the widespread use of electronic warfare in these countries. The technological advancement and growing use of more advanced EW to intercept, identify, and decode the data of adversaries and even project-directed energy to disrupt enemy operations in the region boost the growth of the electronic warfare market. Moreover, rapid advancements being made in technology coupled with increasing investments in Research and Development are anticipated to further drive the market.
The Asia Pacific is anticipated to exhibit a significant growth rate in the electronic warfare market over the forecast period. In Asia Pacific, the defense sector's continuous research and development are fueling fierce competition among market participants for technological breakthroughs in protection systems, boosting the electronic warfare market. Growing adoption of smart devices and sensors in the defense sector is expected to create opportunities for growth for market players. The growing demand for effective communication and security systems in land, air, and naval forces is expected to drive electronic warfare in Asian countries. Technological advancements in countries like China and India, such as 5G, the integration of IoT and artificial intelligence, and satellite connectivity, will continue to boost the market's growth in the forthcoming years.
Some of the key participants present in the global electronic warfare market include BAE Systems Plc., Harris Corporation, General Dynamics, Elbit Systems, Lockheed Martin, Raytheon, Northrop Grumman, Boeing, Cobham Plc., and Tata Power SED, among others. Due to the presence of such a high number of participants, the market is highly competitive. While global players such as BAE Systems Plc., Harris Corporation, General Dynamics, and Elbit Systems account for considerable market size, several regional-level players also operate across key growth regions, particularly in the Asia Pacific.
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| Report Attribute | Details |
|---|---|
| Growth Rate | CAGR of 5.7% from 2023 to 2033 |
| Expected Market Value (2023) | USD 18,588.3 million |
| Anticipated Forecast Value (2033) | USD 32,459.9 million |
| Base Year for Estimation | 2022 |
| Historical Data | 2018 to 2022 |
| Forecast Period | 2023 to 2033 |
| Quantitative Units | Revenue in USD million, Volume in Kilotons, and CAGR from 2023 to 2033 |
| Report Coverage | Revenue Forecast, Volume Forecast, Company Ranking, Competitive Landscape, Growth Factors, Trends, and Pricing Analysis |
| Segments Covered | Category Type, Product, Platform, Region |
| Regions Covered | North America; Latin America; Europe; Asia Pacific; Middle East and Africa |
| Key Countries Profiled | USA, Canada, Mexico, Brazil, Germany, Italy, France, UK, Spain, Nordics, Benelux, Russia, Poland, China, India, ASEAN, Australia & New Zealand, Japan, GCC Countries, Southern Africa, Northern Africa |
| Key Companies Profiled | BAE Systems Plc.; Harris Corporation; General Dynamics; Elbit Systems; Lockheed Martin; Raytheon; Northrop Grumman; Boeing; Cobham Plc.; Tata Power SED |
| Customization | Available Upon Request |
FMI projects the global electronic warfare market to expand at a 5.7% CAGR by 2033.
North America is expected to be the most opportunistic, with a 34.5% share of the total electronic warfare market.
BAE Systems Plc., Harris Corporation, General Dynamics, and Elbit Systems are prominent electronic warfare market manufacturers.
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