Electronic Warfare
Market is Estimated to Witness High Growth Owing to Increasing Geopolitical
Tensions\

The electronic warfare market involves equipment that help in intercepting radar and communications signals, carrying out electronic jamming and limiting access to radio communications, satellite and other services. Electronic warfare systems play a crucial role in ensuring safety and security of military personnel by disrupting enemy defense networks. Development of advanced command and control systems, sensors and cyber weapons have amplified the need for strengthening electronic warfare capabilities. Increasing geopolitical tensions and asymmetric warfare across borders have prompted nations to substantially invest in these systems, which is a major driver of growth for the electronic warfare industry.

The global electronic warfare market is estimated to be valued at US$ 18.45 Bn in 2024 and is expected to exhibit a CAGR of 5.7% over the forecast period 2024 to 2031.

Key Takeaways

Key players: Key players operating in the electronic warfare market are 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.

Key opportunities: Growth opportunities for companies in the electronic warfare market lie in the development of offensive and defensive cyber capabilities, autonomous electronic attack platforms and networking existing systems for unified effects. Growing procurement budgets of defense forces worldwide also present lucrative business opportunities.

Global expansion: Leading Electronic Warfare Market Size  solution providers are eyeing new overseas contracts and partnerships to enhance their global footprint. The rising need for electronic protection of critical national infrastructure and border security assets will further encourage international expansion of electronic warfare product portfolios across all regions.

Market drivers: One of the key drivers of growth in the electronic warfare industry is increasing geopolitical tensions between nations which has heightened the requirement for modernizing electronic warfare arsenals. With advancements in communications and network-centric warfare technologies, the importance of neutralizing enemy electronics has risen tremendously. This is prompting steady investments in offensive and defensive EW capabilities.

PEST Analysis:
Political: Electronic warfare market is influenced by defense budget allocations and government policies related to defense procurement. Strict regulations regarding exports of such systems also impact vendors.

Economic: Growth in global GDP, defense expenditure of countries, and procurement budgets primarily drive demand for improved electronic warfare capabilities by armed forces. Higher investment in defense innovation and technology upgrades propels market growth.

Social: Growing asymmetric warfare threats, geopolitical risks, and terrorist activities increase the perceived need for powerful and adaptable EW systems among nations. Precision strike capabilities with minimum collateral damage are socially favored.

Technological: Advancements in sensor technologies, miniaturization, data analytics, high-performance computing and wireless communications enable the development of new generation stand-off EW jammers, decoys and interceptors. Dual-use technologies also augment civilian and military applications.

In terms of value, the electronic warfare market is concentrated in North America and Europe currently. Higher defense modernization budgets of countries like the US, UK, France and others has historically favored development and procurement of advanced EW systems from regional vendors. Increased procurement of such systems by Asia Pacific nations is elevating the region's market share steadily.

The electronic warfare market is expected to witness its fastest growth in the Asia Pacific region during the forecast period. Rising defense expenditures, escalating geopolitical tensions and increasing indigenous capability development programs in major economies like China and India are driving the demand for new and upgraded EW capabilities. Indigenous production and joint development programs are also supplementing market growth.

Get more insights on – Electronic Warfare Market

About Author:

Ravina Pandya, Content Writer, has a strong foothold in the market research industry. She specializes in writing well-researched articles from different industries, including food and beverages, information and technology, healthcare, chemical and materials, etc. (https://www.linkedin.com/in/ravina-pandya-1a3984191)