Electronic Warfare Market Opportunities and Challenges by 2022

(IT-NEWSWIRE.COM, June 02, 2020 ) The Global Electronic Warfare Market is projected to grow from an estimated $ 24.20 Billion in 2017 to $ 30.32 Billion by 2022, at a CAGR of 4.61% from 2017 to 2022. Defense modernization programs and increasing procurement of advance electronic warfare systems are expected to fuel the electronic warfare market.

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Target Audience for this Report

Manufacturers of Electronic Warfare Products

Component Manufacturers of Electronic Warfare Products

System Integrators

Department of Defense of Various Countries

Armed Services

Government and Certification Bodies

Key Market Players

Major players operating in the electronic warfare market include Harris (US), BAE Systems (UK), Raytheon (US), Lockheed Martin (US), Boeing (US), SAAB (Sweden), Northrop Grumman (US), Israel Aerospace Industries (Israel), and Thales (France).

The electronic warfare market has been segmented on the basis of capability, platform, product, and region. Based on platform, the electronic warfare market has been segmented into airborne, ground, naval, and space. The space segment is projected to lead the market during the forecast period owing to the increasing use of satellite-based electronic warfare equipment for military applications.

Based on capability, the electronic warfare market has been segmented into electronic support, electronic attack, and electronic protection. The electronic support segment is projected to grow at the highest CAGR during the forecast period. This expected high growth rate can be attributed to the increasing adoption of modern warfare techniques in emerging nations in the Asia Pacific and Middle East regions.

Based on product, the electronic warfare market has been segmented into electronic warfare equipment and electronic warfare operational support. The electronic warfare equipment segment is expected to grow at a higher CAGR owing to the increasing procurement of electronic warfare equipment in military ships and aircraft due to benefits such as advance electronic protection and electronic support applications.

The electronic warfare market has been studied for North America, Europe, Asia Pacific, Middle East, and Rest of the World (RoW). The North America region is estimated to be the largest market for electronic warfare in 2017. Factors such as increasing insurgencies, territorial disputes, terrorism, unrest between neighboring nations, and political disputes in the region are also fueling the EW market growth in this region.

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Electronic Warfare Market Opportunities and Challenges by 2022