The global electronic warfare market is anticipated to grow at a considerable CAGR of 4.9% during the forecast period. One of the key factors that are fueling market growth includes the growing defense budgets of developed and developing countries. Nations such as the US, India, China, the UK, and others across the globe have been raising their national defense budget as tensions rise on borders between multiple countries such as China, India, the US, Russia, and others. For instance, in February 2022, Russia invaded Ukraine which caused more than 7.7 million Ukrainians escaping the nation, and a third of the population of the country displaced. Such incidences have influenced the defense budget of multiple nations which has contributed to the growth of the electronic warfare market. For instance, in March 2022, China increased its annual defense budget by 7.1% to reach $230 billion. 

Segmental Outlook 

The global electronic warfare market is segmented based on capability and platform. Based on the capability, the market is segmented into electronic attack, electronic protection, and electronic support. Based on the platform, the market is sub-segmented into air, sea, land, and space. The above-mentioned segments can be customized as per the requirements. Based on capability, the electronic support segment is anticipated to grow significantly in the market owing to the rising necessity for cutting-edge information gathering and communication systems while based on platform, the air segment is anticipated to grow significantly during the forecast period owing to the rising investments in on-air military equipment across the globe.

The Electronic Support Segment is Anticipated to Grow Considerably Over the Forecast Period

Based on capability, the electronic support segment is anticipated to grow significantly in the market during the forecast period owing to the rising necessity for gathering and communicating cutting-edge information systems on the frontline. These systems include intelligence, surveillance, target acquisition, and reconnaissance (ISTAR), intelligence, surveillance, and reconnaissance (ISR), signals intelligence (SIGINT) systems, and others that recognize and target threats are anticipated to record the significant demand. These systems can assist in attack or protect from countering the enemy’s attack. Moreover, the use of military robots such as unmanned sea vehicles and unmanned aerial vehicles (UAVs), with the SIGINT and ISTAR systems, has increased in the past few years. As a result of which, there is a significant increase in collaborations between nations and market players to fulfilling the demands. For instance, in June 2021, Patria signed an agreement for the delivery of Patria’s ARIS-E Electronic Support Measures (ESM) system to a European customer. Patria ARIS-E is an ESM system applicable for identifying, intercepting, and geolocating radioemitters without being detected. 

Regional Outlooks

The global electronic warfare market is further segmented based on geography including North America (the US, and Canada), Europe (Italy, Spain, Germany, France, and Others), Asia-Pacific (India, China, Japan, South Korea, and Others), and the Rest of the World (the Middle East & Africa, and Latin America).  The market can be analyzed for a particular region or country level as per the requirement. Asia-Pacific region is anticipated to grow at the fastest rate in the market owing to the high tension between the countries in the region while North America is anticipated to grow significantly during the forecast period owing to enlarged investments in electronic warfare technologies by countries such as the US in the region.

Global Electronic Warfare Market Growth, by Region 2022-2028

The Asia-Pacific Region Anticipated to Grow Fastest in the Global Electronic Warfare Market

Based on region, the Asia-Pacific region is anticipated to grow at the fastest rate in the market during the forecast period owing to the high tension between the countries in the region over border distribution between countries such as China, India, Pakistan, and others. These countries have been battling over the borderline for years. For instance, in May 2020, Chinese and Indian troops battled over the boundary of disputed areas. Such instance has been a rising military budget in multiple countries of the region, which has also contributed to the demand for electronic warfare systems significantly over the past few years and is anticipating future potential growth. As per SIPRI, India, and China were among the top three military payors in 2021, together with other countries accounting for 62% of global military expenditure. Moreover, in 2021, only China’s military budget reached $293 billion, which is anticipated for driving the procurement and development of electronic warfare systems. Many other countries in the region are also focusing on the enhancement of their EW capabilities. For instance, in March 2021, the Australian Department of Defense (DoD) shaped a strategic partnership with internal universities for establishing a Center of Expertise for electronic warfare systems. In the upcoming 5 years, the DoD and Flinders University planned together for investing a total of $3.8 million into the development of the systems. 

Market Players Outlook

The major companies serving the global electronic warfare market include BAE Systems, Inc., L3Harris Technologies, Inc., Lockheed Martin Corp., Northrop Grumman, Raytheon Technologies Corp., and others. The market players are considerably contributing to the market growth by the adoption of various strategies including mergers and acquisitions, partnerships, collaborations, funding, and new product launches, to stay competitive in the market. For instance, in April 2022, The UK, the US, and Australia signed a contract for cooperating on electronic warfare and hypersonic weapons capabilities. The agreement set up followed the AUKUS defense alliance in September 2021, which planned at improving cooperation in military capabilities among these countries. 

The Report Covers

• Market value data analysis of 2021 and forecast to 2028.
• Annualized market revenues ($ million) for each market segment.
• Country-wise analysis of major geographical regions.
• Key companies operating in the global electronic warfare market. Based on the availability of data, information related to new product launches, and relevant news is also available in the report.
• Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.
• Analysis of market-entry and market expansion strategies.
• Competitive strategies by identifying ‘who-stands-where’ in the market.