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The global electronic warfare market size was valued at USD 23.45 billion in 2021. The market is projected to grow from USD 25.74 billion in 2022 to USD 37.60 billion by 2029, exhibiting a CAGR of 5.56% during the forecast period. The global COVID-19 pandemic has been unprecedented and staggering, with electronic warfare experiencing lower-than-anticipated demand across all regions compared to pre-pandemic levels. Based on our analysis, the global market exhibited a decline of 15.09% in 2020 compared to 2019.
Electronic warfare (EW) is useful in controlling the electromagnetic (EM) spectrum to detect, analyze, and track potential threats that a country might face. It provides situational awareness to the country and its allies and helps them to take defensive measures, get diplomatic insights, and prepare for offensive options at every level before conflicts arise. The rise in geopolitical tensions and regional conflicts has necessitated the adoption of advanced warfare methods.
Advanced warfare techniques can also intercept, identify, and decode adversaries' data. It can even project directed energy to disrupt enemy operations. This factor changes the battlespace, offering the capacity to reinforce mission success and survivability at every stage, prevent armed conflicts before they begin, or reduce the impact and scope of conflicts underway. The rise in the use of technology in warfare has positively driven the market growth.
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Technological Advancement to Increase Use of Cyber Operations in EW Capabilities
By using electromagnetic energy and operating in cyberspace, military forces use wireless computer networks to coordinate different operations. They use air and ground-based sensors to detect the enemy. They also use radios to communicate with each other and use electronic jammers to blind the enemy radars to disrupt their communications. Wireless routers or tactical radios are a part of every computer network, cyberspace, and the electromagnetic spectrum now forms one continuous, coherent environment. The electromagnetic spectrum and cyberspace as a specific information environment are fundamental to military operations. It must be treated at par with the traditional domains of land, sea, air, and space.
The concept of convergence indicates the consolidation of conventional and wireless commercial services and applications. Together, future conflicts will be won by using the electromagnetic spectrum and cyberspace.
Threat of Drones and Remotely Triggered Improvised Explosive Devices (IEDs) to Increase EW Equipment Usage
The changing nature of security, threat perception, and the nature of conflict resulted in the reappearance of these systems. In conflict situations, countries have made efforts to make rapid developments in this area. The U.S., Russia, China, Israel, Turkey, the U.K. and some other European countries had advantages in areas of conflict in recent years. They have shown that threats are not only brought by military equipment. New methods, such as hybrid warfare and asymmetric warfare tactics, are increasingly being used to create pressure on other countries. Considering the use of the electronic systems in hybrid and asymmetrical wars that are increasingly being witnessed, these systems will be one of the key points of the future security parameters.
Use of Cyber Operations Led to an Increase in Use of Warfare Equipment
An important feature of cyberspace is the networked info-communication system operating using an electromagnetic spectrum or wired connection. Different electronic information management processes, such as electronic data gathering, data processing, data storage, and communication, occur in these systems. Cyberspace is present across other domains in land, sea, air, and space. The cyberspace and electromagnetic spectrum creates a common operating environment called cyber electromagnetic domain.
Complex Parts and High Costs Associated with their Manufacturing Act as Limiting Factors
Cost is an important factor while buying or manufacturing modern warfare equipment related components. High costs and cyber-attacks are a major threat to EW systems in the EW market. Cyberwarfare involves infiltrating and disrupting the enemy’s computer systems, including generating denial of service attacks to block access to the website, breaking into computer systems to steal or destroy data, and taking control of computer systems to disrupt critical infrastructure like power grids.
Russia’s invasion of Ukraine was preceded by several weeks of cyberattacks, including an attack that posted a fake ransomware note and then destroyed data. These attacks were part of a campaign of cyber warfare against Ukraine, which included attacks on portions of the country’s power grid.
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Electronic Support Segment Held the Highest Share of the Market in 2021 Due to Rise in Sea-based Threats
By domain, the EW market is segmented into electronic attack, electronic protection, and electronic support. The electronic support segment held the largest market share in 2021 due to increase in the threat of Improvised Explosive Devices (IEDs) and sea-based threats. The electronic support segment showed the highest CAGR due to increased demand for intelligent, surveillance, and reconnaissance equipment.
Jammers to Witness Fastest CAGR Over the Forecast Period Due to their Increasing Use
Based on equipment, the market is classified into jammer, antenna, radar warning receiver, directed energy weapon, anti-radiation missile, Counter Measure Dispenser System (CMDS), Directional Infrared Countermeasure (DIRCM), self-protection electronic warfare suite, and others.
The jammer segment accounted for the largest market share in 2021. It is projected to grow at the fastest CAGR. Military forces across the world are arming themselves with dismounted and portable jammers. The increasing focus on portable warfare systems will facilitate the development of smaller lightweight personal protection devices to improve warfighting capabilities. Moreover, recent trends are increasingly directed toward developing jammers that will have selective and reactive jamming capabilities. With the anticipated rise in sea-based operations over the forecast period, the focus on jamming and identifying radar and other electronic signals will increase.
Rising Defense Budgets and Military Modernization Led to Growth of Air-based Electronic Warfare
Based on platform, the EW market is segmented into air-based, sea-based, and land-based.
The land-based segment accounted for the highest share in 2021. The land-based segment is predicted to grow owing to rising military spending on enhancing the defense capabilities at the borders to combat terrorist attacks.
The air-based segment showed the highest CAGR over the forecast period. The air-based segment is further divided into combat aircraft, Airborne Early Warning & Control (AEW&C) aircraft, and UAVs. The sea-based segment is further divided into ships and submarines. The air-based platform is anticipated to be the fastest-growing segment during the forecast period due to increasing procurement of combat aircraft and UAVs by various countries' defense sectors.
North America Electronic Warfare Market Size, 2021 (USD Billion)
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The electronic warfare market share is studied across North America, Europe, Asia Pacific, and the Rest of the World.
North America dominated the market in 2021. The North American market stood at USD 8.41 billion in 2021 and is projected to grow at a significant CAGR during the forecast period. The growth is attributed to the highest defense spending from the U.S. Department of Defense. The U.S. allocated a defense budget of USD 782 billion in 2022. In 2021, the U.S. government allocated USD 3.17 billion for 45 electronic warfare programs across the military service departments and other platforms.
The market in Europe is projected to grow at a moderate rate due to increase in investment in the latest warfare technologies and the presence of prominent key players such as Thales Group. Rising defense expenditure from developed countries, such as the U.K, Germany, France, Russia, and others, boosts the market growth.
Asia Pacific is anticipated to grow with the highest CAGR during the forecast period. The growth in the region is attributed to increasing expenditure in the defense sector from economies such as India, China, Japan, and Australia. The Indian Air Force plans to develop an advanced electronic warfare suite for its fighter jet fleet. The Indian defense ministry signed a contract with Bharat Electronics Limited (BEL) to supply the Indian Air Force with advanced fighter aircraft with these capabilities.
The rest of the world will showcase significant growth owing to rising defense spending and procurement of next-generation weapons from the Middle Eastern countries such as Saudi Arabia, Israel, Turkey, and others.
Northrop Grumman Corporation is a Leader in Providing EW Solutions to Reinforce its Position
The electronic warfare market is dominated by key manufacturers such as BAE Systems plc, Elbit Systems Ltd, General Dynamics Corporation, Israel Aerospace Industries Ltd. (IAI), L3Harris Technologies Inc., Leonardo SpA, Lockheed Martin Corporation, Northrop Grumman Corporation, Raytheon Technologies Corporation, SAAB AB, and Thales Group. These players majorly focus on introducing advanced solutions for military operations and business expansion through partnerships and contracts with defense forces.
In May 2022, Saab AB launched Sirius compact, a passive lightweight EW sensor to meet surveillance challenges across all levels of tactical operations by locating threats while remaining undetected.
An Infographic Representation of Electronic Warfare Market
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The research report provides a detailed analysis of the market. It focuses on key areas such as leading companies, product types, and leading product applications. The report offers insights into the market trends and highlights key industry developments. In addition to the above factors, this report encompasses several factors that have contributed to the electronic warfare market growth in recent years.
Value (USD Billion)
By Domain, Equipment, Platform, and Geography
Fortune Business Insights says that the global market size was USD 23.45 billion in 2021 and is projected to reach USD 37.60 billion by 2029.
The market will exhibit a CAGR of 5.56% during the forecast period.
The jammer segment is the leading segment in the market.
BAE Systems plc, Elbit Systems Ltd, General Dynamics Corporation, Israel Aerospace Industries Ltd. (IAI), L3Harris Technologies, Inc, Leonardo SpA, Lockheed Martin Corporation, Northrop Grumman Corporation, Raytheon Technologies Corporation, SAAB AB, and Thales Group are the leading players in the market.
North America dominated the market in terms of market share in 2021.
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