Global Electronic Warfare Market to Surpass 26.40 Billion by 2030 Driven by Increasing Adoption of Advanced Electronic Equipment
SkyQuest projects that the global electronic warfare market will attain a value of USD 26.40 billion by 2030, with a CAGR of 5.2% during the forecast period (2023-2030). A significant driver behind the robust growth of the global electronic warfare market is the escalating adoption of advanced electronic equipment, associated technologies, and sophisticated weapon systems. The pervasive integration of these cutting-edge technologies across various sectors has simultaneously given rise to the need for electronic warfare systems to detect and counter potential threats.
Westford, USA, Jan. 08, 2024 (GLOBE NEWSWIRE) — According to SkyQuest, electronic warfare market expansion in the field of pivotal role in the landscape by specializing in detection is fueled by significant advancements across the electromagnetic spectrum. There is an increasing need for developing cutting-edge electronic warfare systems with the ubiquity of electronic devices, equipment, and sophisticated weapon systems.
Browse in-depth TOC on the “Electronic Warfare Market”
- Pages – 157
- Tables – 60
- Figures – 75
Adopting electronic warfare systems is paramount for naval vessels and stealth aircraft, given their inherent difficulty to track or detect in the global electronic warfare market. These advanced systems provide a critical edge in countering evolving threats and ensuring mission success. Nonetheless, the electronic warfare market does face potential challenges, such as defense budget cuts in both the U.S. and Europe, which may restrict investment in these essential technologies.
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Prominent Players in Global Electronic Warfare Market
- BAE Systems
- Lockheed Martin Corporation
- Raytheon Company
- Northrop Grumman Corporation
- Thales Group
- Saab AB
- L3Harris Technologies, Inc.
- Leonardo S.p.A.
- Harris Corporation
- Elbit Systems Ltd.
- Israel Aerospace Industries Ltd.
- Rheinmetall AG
- Cobham plc
- FLIR Systems, Inc.
- Teledyne Technologies Incorporated
- Kratos Defense & Security Solutions, Inc.
- Mercury Systems, Inc.
- Airbus Defense and Space
- General Dynamics Corporation
- Electronic Warfare Associates, Inc.
Electronic Support Segment to Dominate Market due to their Pivotal Role in the Landscape
Electronic support segment has asserted its dominance in the global electronic warfare market. ES systems play a pivotal role in the landscape by specializing in detecting and intercepting enemy radar and communication signals.
The market in North America has firmly established its dominance in the global electronic warfare market, owing to a confluence of factors such as the presence of well-established defense industries, continuous technological advancements, and substantial defense spending.
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Electronic Attack Segment is Expected to Witness Significant Growth due to Continuous Technological Advancements
Electronic attack segment is undergoing significant growth, propelled by continuous technological advancements and the ever-evolving landscape of electronic warfare threats. There is a rising demand for advanced EA systems that can effectively counter these evolving threats as adversaries continually develop increasingly sophisticated electronic systems in the global electronic warfare market.
Regional market in Asia-Pacific is poised to emerge as the fastest-growing global electronic warfare market, driven by a confluence of factors, including the rising disposable income and evolving lifestyles of residents in countries such as China, Japan, and India. This dynamic shift in consumer behavior has prompted a growing interest in premium oral care products, with electronic warfare at the forefront.
A comprehensive analysis of the major players in the global electronic warfare market has been recently conducted in this report. The report encompasses various aspects, including collaborations, mergers, innovative business policies, and strategies, providing valuable insights into key trends and breakthroughs in the market. Furthermore, the report scrutinizes the market share of the top segments and presents a detailed geographic analysis. Lastly, the report highlights the major players in the industry and their endeavours to develop innovative solutions to cater to the growing demand.
Key Developments in Global Electronic Warfare Market
- In 2023, Leonardo made a significant announcement with the launch of its cutting-edge electronic warfare suite, the EWS-50. This unveiling marked a notable development in the electronic warfare industry, as Leonardo showcased its commitment to advancing technology in this sector.
- In 2023, L3Harris Technologies secured a substantial contract worth $1.5 billion from the U.S. Air Force. The agreement aimed to provide state-of-the-art electronic warfare systems tailored for the advanced F-35 fighter jet. This contract exemplified the growing importance of electronic warfare capabilities in modern military aviation and highlighted L3Harris Technologies’ pivotal role in delivering cutting-edge solutions to meet these evolving defense needs.
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Key Questions Answered in the Global Electronic Warfare Market Report
- What specific growth drivers are projected to impact the market during the forecast period?
- List the top companies in the market and explain how they have achieved their positions of influence.
- In what ways do regional trends and patterns differ within the global market, and how these differences shape the market’s future growth?
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