According to the latest report by IMARC Group, titled "Global Electronic warfare Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026," the global electronic warfare market reached a value of US$ 16.65 Billion in 2020. Electronic warfare refers to the military operations that involve the use of electromagnetic spectrum and equipment, such as infrared (IR) detectors and radars, to intercept attacks and provide protection to the allied forces. It involves the use of jammers, decoys, countermeasure systems and directed energy weapons that aid in improving the range, spectral domain, security, understanding the environment and informing decisions. It is widely used by armed forces to provide intelligence and combat solutions for detecting, analyzing, detecting, disrupting and locating threats. As a result, electronic warfare systems are widely used across naval, land, space and airborne platforms.
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
Global Electronic Warfare Market Trends:
The global electronic warfare market is primarily being driven by the increasing number of digital attacks and cybersecurity threats. Moreover, the escalating need for efficient surveillance, intelligence and combat solutions against terrorist attacks and network hacking is providing a thrust to the market growth. Various technological advancements, such as the integration of computing devices with the Internet of Things (IoT) and artificial intelligence (AI) solutions, are positively impacting the market growth. These technologies enable the real-time acquisition and analysis of data for timely interception and improved warfare tactics and analytics. In line with this, the widespread utilization of electronic warfare solutions in unnamed aerial vehicle (UAV) systems for gathering spatial information is creating a positive outlook for the market growth. Other factors, including the rapid modernization of the defense infrastructure, along with the implementation of stringent government policies for ensuring national security, are anticipated to drive the market toward growth. On account of the aforementioned factors, the market is anticipated to grow at a CAGR of 5% during the forecast period (2021-2026).
- On the basis of product type, the market has been categorized into EW equipment and EW operational support.
- Based on the equipment, the market has been segregated into jammer, countermeasure system, decoy, directed energy weapon and others.
- On the basis of capacity, the market has been categorized into electronic protection, electronic support and electronic attack.
- Based on platform, the market has been segregated into land, naval, airborne and space.
- On the basis of region, the market has been categorized into North America (the United States and Canada), Asia-Pacific (China, Japan, India, South Korea, Australia, Indonesia and Others), Europe (Germany, France, United Kingdom, Italy, Spain, Russia and Others) Latin America (Brazil, Mexico and Others), Middle East and Africa.
- The competitive landscape of the industry has in the report been studied along with the detailed profiles of the key players operating in the market. Some of these players include Aselsan A. , BAE Systems plc, Elbit Systems Ltd., General Dynamics Corporation, Israel Aerospace Industries, L3Harris Technologies Inc., Leonardo S.p.A., Lockheed Martin Corporation, Northrop Grumman Corporation, Raytheon Technologies Corporation, Saab AB, Teledyne Technologies Incorporated, Textron Inc., Thales Group and The Boeing Company.
IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.
Follow us on twitter : @imarcglobal