Dublin, June 22, 2022 (GLOBE NEWSWIRE) -- The "Global Electronic Warfare Market Forecast to 2028 - COVID-19 Impact and Global Analysis by Component, Application, and Product Type" report has been added to ResearchAndMarkets.com's offering.
The electronic warfare market is projected to reach US$ 27,797.72 million by 2028 from US$ 18,192.85 million in 2021. it is expected to grow at a CAGR of 6.2% from 2021 to 2028.
The goal of electronic warfare is to deny the enemy the advantage of the electromagnetic spectrum while ensuring that allied forces have unrestricted access to it. Modern warfare has always included electronic warfare; however, it has progressed far beyond radio jamming. Sensing, exploiting, and manipulating the electromagnetic spectrum (EMS) is becoming increasingly possible for electronic warfare weapons thus many key players along with governments are investing an massive amount of capital in developing electronic warfare positively impacting the electronic warfare market.
As a relatively affordable and easily deployed way of stopping the operation of an enemy's radar and shielding one's similar equipment from interference, EW is becoming apriority. The market players in the electronic warfare market are anticipated to provide lucrative growth opportunities in the coming years with the rising geographical tension between neighboring countries demand for electronic warfare systems in the global market will increase.
The electronic warfare market is analyzed on the basis of component, application, product type, and geography. Based on component, the market is segmented into hardware, software, and services. By application, the market is segmented into electronic attack, electronic protection, electronic warfare support. Based on product type, the market is segmented into countermeasure systems, jammers, sensor systems, weapons systems, and others. By geography, the market is primarily segmented into North America, Europe, Asia Pacific (APAC), the Middle East & Africa (MEA), and South America.
Armed forces and non-state groups deploy unmanned aerial systems. The tiniest commercial drones can be weaponized and used to cause catastrophic damage. Finding strategies to defeat the weaponized drones as their use spreads across the battlefield is a top issue. Electronic communications and technologies are critical for autonomous and remotely driven vehicles. As the number of duties delegated to unmanned systems grows, the demand for counter-unmanned aerial systems (UAS) and electronic warfare (EW) technologies to counter them also rises. Unmanned aerial vehicles have become an important feature of armed forces worldwide. Thus, the deployment of electronic warfare systems on unmanned vehicles is propelling the electronic warfare market.
Since 2016, Turkey has won conflicts purely using unmanned systems in Syria, Libya, and Azerbaijan, demonstrating the importance of such an EW capability. Also, in 2021, the Indian Army procured a set of new surveillance drones that allow the ground controller to communicate through a satellite. As the procurement of unmanned vehicles is increasing, it is also augmenting the growth of electronic warfare systems market. The electronic defense/electronic attack system is made of two military trucks. It is meant to jam and fool both conventional and complicated varieties of hostile radar and analyze multiple target signals over a wide frequency range. Thus, these new technology integrations with electronic warfare systems are expected to contribute to the electronic warfare market growth during the forecast period.
North America has experienced a rise in the uptake of electronic warfare market over the last decade. The US has increased its military spending on acquiring advanced and updated vessels, equipment, and lethal and electronic warfare. According to the data published by Stockholm International Peace Research Institute (SIPRI), the US recorded an increase in military expenses in 2020 compared to 2019. The increase in military expenditure by North American countries influences the growth of this region's electronic warfare market.
Lamperd Less Lethal, Inc.; Combined Systems, Inc.; Pepperball; and NonLethal Technologies, Inc. are the major companies operating in the North America electronic warfare market. The rising strategic initiatives and investments in new product developments are likely to propel the market's growth in the coming years.
Impact of COVID-19 Pandemic on Electronic Warfare Market Share
The impact of COVID-19 was negative in North America, the US, Canada, and Mexico. The federal governments in North America are focusing on healthcare facilities. They have cut back on defense spending as governments only want to cover existing contracts that are in place, leaving fewer opportunities for new procurement.
Many ongoing defense programs have faced challenges such as a slowdown in production facilities that impacted the delivery of aircraft and navy carriers, military vehicles, and electronic warfare products. For instance, Lockheed Martin delivered 120 aircraft in 2020, including 46 to international customers, bringing the total number of production aircraft delivered to 611 since the F-35 program's inception.
The advanced F-35 aircraft is equipped with advanced jammers, radar, laser, and electronic warfare systems. Delay in delivering aircraft has led to a slowdown in the electronic warfare market. As per Insight partner research analysis Furthermore, due to the substantial decrease in the labor workforce, the accelerated production rate of tier three and tier four suppliers have slowed down, leading to the delayed purchase of electronic equipment restraining the market growth of the electronic warfare market.
The global electronic warfare market is primarily driven by the rising geographical tension between the neighboring countries electronic across developed and developing countries. Space is slowly becoming the new high ground for electronic warfare systems. Physical destruction, laser blinding, and electronic warfare are all likely to be used to deny the enemy the use of their satellites and protect one's satellites for their force multiplier effect. There is a need to consider the best method to integrate space assets into military operations. Anti-satellite weapons, denial and deception tactics, jamming, usage of tiny satellites, hacking, and nuclear detonation are just a few examples of existing capabilities that can deny, disrupt, or physically destroy space systems and the terrestrial facilities that use and operate them. However, limited access to electronic warfare manufacturing facilities in developing countries is restricting the growth of the electronic warfare market.
Lockheed Martin Corporation, Raytheon Technologies, L3Harris Corporation, Northrop Grumman Corporation, and BAE Systems Plc hold a significant percentage of the electronic warfare market share.
Key Topics Covered:
1. Introduction
2. Key Takeaways
3. Research Methodology
4. Electronic Warfare Market Landscape
4.1 Market Overview
4.2 Porter's Five Forces Analysis
4.2.1 Bargaining Power of Buyers
4.2.2 Bargaining Power of Suppliers
4.2.3 Threat to New Entrants
4.2.4 Threat to Substitutes
4.2.5 Competitive Rivalry
4.3 Ecosystem Analysis
4.4 Expert Opinions
5. Electronic Warfare Market - Key Market Dynamics
5.1 Market Drivers
5.1.1 Increasing Procurement of Electronic Warfare Systems
5.1.2 Deployment of Electronic Warfare Systems on Unmanned Vehicles
5.2 Market Restraints
5.2.1 Limited Access to Electronic Warfare Manufacturing Facilities in Developing Countries
5.3 Market Opportunities
5.3.1 Technological Advancements in Electronic Warfare
5.4 Future Trends
5.4.1 Deployment of Sensors in Space for Improved Electronic Warfare Capabilities
5.5 Impact Analysis of Drivers And Restraints
6. Electronic Warfare - Global Market Analysis
6.1 Electronic Warfare Market Global Overview
6.2 Global Electronic Warfare Market Revenue Forecast and Analysis
6.3 Market Positioning - Five Key Players
7. Electronic Warfare Market - By Component
7.1 Overview
7.2 Electronic Warfare, by Component (2020 and 2028)
7.3 Hardware
7.3.1 Overview
7.3.2 Hardware: Electronic Warfare Market - Revenue and Forecast to 2028 (US$ Million)
7.4 Software
7.4.1 Overview
7.4.2 Software: Electronic Warfare Market - Revenue and Forecast to 2028 (US$ Million)
7.5 Services
7.5.1 Overview
7.5.2 Services: Electronic Warfare Market - Revenue and Forecast to 2028 (US$ Million)
8. Electronic Warfare Market - By Application
8.1 Overview
8.2 Electronic attack, by Application (2020 and 2028)
8.3 Electronic Attacks
8.3.1 Overview
8.3.2 Electronic Attacks: Electronic Warfare Market - Revenue and Forecast to 2028 (US$ Million)
8.4 Electronic Protection
8.4.1 Overview
8.4.2 Electronic Protection: Electronic Warfare Market - Revenue and Forecast to 2028 (US$ Million)
8.5 Electronic Warfare Support
8.5.1 Overview
8.5.2 Electronic Warfare Support: Electronic Warfare Market - Revenue and Forecast to 2028 (US$ Million)
9. Electronic Warfare Market - By Product Type
9.1 Overview
9.2 Electronic Warfare, by Product Type (2020 and 2028)
9.3 Counter Measures System
9.3.1 Overview
9.3.2 Counter Measures System: Electronic Warfare Market - Revenue and Forecast to 2028 (US$ Million)
9.4 Jammers
9.4.1 Overview
9.4.2 Jammers: Electronic Warfare Market - Revenue and Forecast to 2028 (US$ Million)
9.5 Sensors System
9.5.1 Overview
9.5.2 Sensors System: Electronic Warfare Market - Revenue and Forecast to 2028 (US$ Million)
9.6 Weapon System
9.6.1 Overview
9.6.2 Weapon System: Electronic Warfare Market - Revenue and Forecast to 2028 (US$ Million)
9.7 Others
9.7.1 Overview
9.7.2 Others: Electronic Warfare Market - Revenue and Forecast to 2028 (US$ Million)
10. Electronic Warfare Market - Geographic Analysis
11. Electronic Warfare Market - COVID-19 Impact Analysis
11.1 Overview
11.2 Impact of COVID-19 Pandemic on Global Electronic Warfare Market
11.2.1 North America: Impact Assessment of COVID-19 Pandemic
11.2.2 Europe: Impact Assessment of COVID-19 Pandemic
11.2.3 Asia-Pacific: Impact Assessment of COVID-19 Pandemic
11.2.4 Middle East & Africa: Impact Assessment of COVID-19 Pandemic
11.2.5 South America: Impact Assessment of COVID-19 Pandemic
12. Industry Landscape
12.1 Overview
12.2 Market Initiative
12.3 New Product Development
13. Company Profiles
13.1 L3Harris Technologies, Inc.
13.1.1 Key Facts
13.1.2 Business Description
13.1.3 Products and Services
13.1.4 Financial Overview
13.1.5 SWOT Analysis
13.1.6 Key Developments
13.2 Raytheon Technologies Corporation
13.2.1 Key Facts
13.2.2 Business Description
13.2.3 Products and Services
13.2.4 Financial Overview
13.2.5 SWOT Analysis
13.2.6 Key Developments
13.3 Lockheed Martin Corporation
13.3.1 Key Facts
13.3.2 Business Description
13.3.3 Products and Services
13.3.4 Financial Overview
13.3.5 SWOT Analysis
13.3.6 Key Developments
13.4 Saab AB
13.4.1 Key Facts
13.4.2 Business Description
13.4.3 Products and Services
13.4.4 Financial Overview
13.4.5 SWOT Analysis
13.4.6 Key Developments
13.5 BAE Systems
13.5.1 Key Facts
13.5.2 Business Description
13.5.3 Products and Services
13.5.4 Financial Overview
13.5.5 SWOT Analysis
13.5.6 Key Developments
13.6 Thales Group
13.6.1 Key Facts
13.6.2 Business Description
13.6.3 Products and Services
13.6.4 Financial Overview
13.6.5 SWOT Analysis
13.6.6 Key Developments
13.7 Northrop Grumman Corporation
13.7.1 Key Facts
13.7.2 Business Description
13.7.3 Products and Services
13.7.4 Financial Overview
13.7.5 SWOT Analysis
13.7.6 Key Developments
13.8 Cobham Limited
13.8.1 Key Facts
13.8.2 Business Description
13.8.3 Products and Services
13.8.4 Financial Overview
13.8.5 SWOT Analysis
13.8.6 Key Developments
13.9 Leonardo S.p.A.
13.9.1 Key Facts
13.9.2 Business Description
13.9.3 Products and Services
13.9.4 Financial Overview
13.9.5 SWOT Analysis
13.9.6 Key Developments
13.10 Textron Inc.
13.10.1 Key Facts
13.10.2 Business Description
13.10.3 Products and Services
13.10.4 Financial Overview
13.10.5 SWOT Analysis
13.10.6 Key Developments
14. Appendix
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