by Electronic warfare involves military actions such as surveillance, protecting own aircrafts, ships, submarines against enemy radar or radio signals. It enhances communication capabilities and protects own systems from being detected while monitoring enemy communications. The electronic warfare market provides wide range of capabilities including radar warning receivers, jammers, directed energy weapons and directed infrastructure. The key drivers for the market demand are growing need for situational awareness systems, effective communication tools and protection from radio frequency threats.
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 operating in the electronic warfare 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.
The major opportunities in the market include developing situational awareness solutions integrated with advanced cyber capabilities, non-kinetic weapons and electronic attack systems. Technological advancements include cyber electronic warfare, directed energy weapons, integrated electronic warfare suites and electromagnetic pulse weapons.
Market Drivers
The key driver for the Electronic Warfare Market Size is growing development of autonomous weapons and intelligent warfare systems which rely on advanced electronic capabilities for communication, surveillance and protection. Increasing military spending on electronic warfare systems globally and development of networked electronic warfare infrastructure are also fueling the market growth.
Current Challenges in the Electronic Warfare Market
The electronic warfare market faces many challenges in terms of technology, geopolitics, and budget cuts. The capabilities of adversary nations are improving rapidly as technologies diffuse globally. Keeping pace with evolving threats from systems like lasers, drones, hypersonic weapons requires continuous innovation. Geopolitical tensions also pose challenges as the rules of engagement change. Budget cuts amid economic downturns threaten underfunding of critical capabilities. Sustaining technology leadership with constrained defense budgets is a major challenge.
SWOT Analysis
Strength: The market has strong capabilities in radar warning receivers, countermeasures, electronic support and more. Established players have decades of domain expertise.
Weakness: High R&D costs and changing technologies require continuous investments which stresses budgets. Dependence on defense contracts leaves the sector vulnerable to spending cuts.
Opportunity: Emerging technologies expand the scope with opportunities in AI, big data, cyber etc. Regional tensions and asymmetric threats boost demand.
Threats: Low barriers may allow smaller players to erode market share. Export controls and sanctions influence sales potential in some regions.
Geographical Regions of Concentration
North America accounts for the largest share of the electronic warfare market currently in terms of value, estimated at over 35% in 2024. This is driven by substantial defense budgets and ongoing modernization programs in the US and Canada. Significant long-term programs will sustain growth.
Fastest Growing Regions
The Asia Pacific region is projected to see the highest CAGR during the forecast period with increasing indigenous defense production and procurement. Countries like India, Japan, South Korea are modernizing militaries which spurs electronic warfare capabilities. Rising tensions also heighten requirements, supporting above average growth.
Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
