Electronic Warfare Market - Growth, Trends, and Forecast (2019 - 2024)

SKU ID : MOR- 13487365

Publishing Date : 01-Apr-2019

No. of pages : 102

PRICE
4250
8750


  • Market Overview

    The electronic warfare market is anticipated to register a CAGR of above 3.5% during the forecast period.
    - The increasing military spending fueled by the ongoing political conflicts and territorial disputes is expected to generate demand for sophisticated electronic warfare systems with superior capabilities during the forecast period.
    - Development of cognitive electronic warfare, which is the integration of advanced technologies, like artificial intelligence and neural networks with the electronic warfare systems, to achieve faster and efficient systems with minimal lag between threat identification and tracking is expected to open up new market opportunities for the electronic warfare market.

    Key Market Trends

    The Electronic Support Segment is Expected to Experience the Highest Growth During the Forecast Period

    The electronic support segment is anticipated to have the highest growth during the forecast period. The need for advanced information gathering and communication systems in the battlefield is of high importance. Due to this reason, intelligence, surveillance and reconnaissance (ISR), intelligence, surveillance, target acquisition, and reconnaissance (ISTAR), signals intelligence (SIGINT) systems, and other such systems for recognition and targeting of threats are expected to register the highest demand, as they assist in attack or protect against the enemy attack. The use of drones or UAVs, with the SIGINT and ISTAR systems, is increasing in recent times, which is also one of the key drivers for the growth of this segment.

    The Asia-Pacific Region is Expected to Experience the Highest Growth During the Forecast Period

    The Asia-Pacific region is anticipated to have the highest growth during the forecast period. The rapid growth in military spending of the Asia Pacific countries is the major driving factor for its highest growth in the electronic warfare market. There is a large growth in military spending of few countries between 2008 and 2017, like Cambodia (332%), Bangladesh (123%), Indonesia (122%), and China (110%). There were also significant increases in countries, like Vietnam, the Philippines, Myanmar, Kyrgyzstan, Pakistan, Nepal, and India during the same period. The countries are investing in the development of new electronic warfare systems to enhance their capabilities in the midst of their political and territorial issues. For instance, China developed new electronic warfare (EW) aircraft by the use of an additional antenna to gather information near the South China Sea and the East China Sea. The development of new systems is expected to help the growth of the market in this region during the forecast period.

    Competitive Landscape

    The electronic warfare market is highly fragmented, due to the presence of many players who offer several products across various segments of the market. Some of the prominent players in the electronic warfare market are Lockheed Martin Corporation, Raytheon Company, BAE Systems PLC, Saab AB, and Northrop Grumman Corporation. The international players have a higher market share compared to that of the regional players, due to significantly high investments in R&D, along with high geographical presence. The competition in the market is further expected to increase with the development of new products and by the consolidation of the market.

    Reasons to Purchase this report:

    - The market estimate (ME) sheet in Excel format
    - Report customization as per the client's requirements
    - 3 months of analyst support