Electronic Warfare Market to Achieve $31.23 Billion by 2030 | With a 9.4% Annual Growth Rate (CAGR)

Key Companies Covered in Electronic Warfare Market are L3Harris Technologies Inc. (U.S.), Moog Inc. (U.S.), Northrop Grumman Corporation (U.S.), Elbit Systems Ltd (Israel), BAE Systems Plc. (U.S.), Lockheed Martin Corporation (U.S.), General Dynamics Corporation (U.S.), Raytheon Technologies Corporation (U.S.), Thales Group (France), Leonardo SPA (Italy) and Other Key Companies.

Pune, India, Sept. 14, 2023 (GLOBE NEWSWIRE) -- The global electronic warfare market size was valued at USD 15.21 billion in 2022 and is expected to expand from USD 16.65 billion in 2023 to USD 31.23 billion by 2030, exhibiting a CAGR of 9.4% over the study period. The expansion can be credited to the growing geopolitical tensions and regional conflicts. These factors have increased the need for the adoption of advanced warfare methods.

Fortune Business Insights™ provides this information in its research report, titled “Electronic Warfare Market, 2023-2030”.

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List of Key Players Profiled in the Electronic Warfare Market Report:

  • L3Harris Technologies Inc. (U.S.)
  • Moog Inc. (U.S.)
  • Northrop Grumman Corporation (U.S.)
  • Elbit Systems Ltd (Israel)
  • BAE Systems Plc. (U.S.)
  • Lockheed Martin Corporation (U.S.)
  • General Dynamics Corporation (U.S.)
  • Raytheon Technologies Corporation (U.S.)
  • Thales Group (France)
  • Leonardo SPA (Italy)

Report Scope & Segmentation:

Report CoverageDetails
Forecast Period2023-2030
Forecast CAGR9.4%
2029 Value ProjectionUSD 31.23 Billion
Market Size in 2022USD 16.65 Billion
Historical Data2019-2021
No. of Pages200
Report CoverageRevenue Forecast, Company Profiles, Competitive Landscape, Growth Factors and Latest Trends
Segments Covered
  • By End User Analysis 
  • By Platform Analysis 
  • By Type Analysis 
  • By Technology Analysis 
Regions Covered
  • North America
  • Europe
  • Asia Pacific
  • South America
  • Middle East and Africa
Electronic Warfare Market Growth DriversAdvancements in Technology for the Development of More Sophisticated EW Systems to Drive Market Growth
Increasing Use of Warfare Equipment due to Deployment of Cyber Operations to Propel Market Growth

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Naval Segment to Dominate due to the Growing Requirement for Better EW Capabilities

Based on end user, the market is divided into air, naval, and landforce. The naval segment accounted for the largest share and is estimated to be the fastest growing segment during the forecast period. There is a growing requirement for better EW capabilities for the protection of naval assets in maritime operations. This factor is fueling the segment growth.

Naval Ship Segment to Lead Owing to Growing Requirement for Protection against Drones
In terms of platform, the market is divided into aircraft, weapon, naval ship, vehicle, and others. The naval ship segment accounted for the largest market share in 2022 and is expected to be the fastest growing segment during the forecast period. The surging requirement for protection against drones and missiles is spurring the segment growth.

Rising Dependence on Electronic Systems for Tactical Operations to Lead to Electronic Attack Segment Growth

Based on type, the market is divided into electronic protection, electronic attack, electronic support, and others. The electronic attack segment is expected to hold the largest market share and is projected to be the fastest-growing segment during the forecast period. The growing dependence on electronic systems for tactical operations is the major factor driving the segment growth.

Support Offered by IR Missile Warning Systems for Different Operations to Fuel the Segment Growth

On the basis of technology, the market is classified into antennas, anti-jam electronic protection system, directed energy weapon, IR missile warning system, optical attack solutions, and others. The IR missile warning system segment is expected to hold the largest market share and is projected to be the fastest-growing segment during the forecast period. Different operations for Electronic Support Measures (ESM) are supported by these systems. This factor is escalating the segment expansion.

From the regional perspective, the market is classified into North America, the Asia Pacific, Latin America, Europe, and the Middle East & Africa.

Russia-Ukraine War Impact:

Surging Tactical Combat Operations Positively Impacted the Market Growth

The Russia-Ukraine war had a positive impact on the electronic warfare market. Huge investments were made by the Russian government in Electronic Warfare (EW), which was utilized to jam GPS signals, detect smart bombs supplied by Western countries, and others. In addition, the usage of the product by Russia had a severe impact on Ukraine’s ability to respond by helping Russian forces launch an aerial attack.

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Report Coverage:

The report offers comprehensive coverage of the driving and restraining factors and the Russia-Ukraine war impact on the market growth. In addition, it highlights the key segments and strategies deployed by leading industry players to capture the largest market share.

Drivers and Restraints:

Increasing Digital Transformation and Network Centric Warfare to Impel the Market Growth

One of the major factors driving the electronic warfare market growth is the surging digitalization and network centric warfare. Broader network-centric warfare capabilities are being deployed in modern electronic warfare systems. This has enabled real-time data sharing and improved situational awareness.

Despite such growth opportunities, the power limitations associated with different military platforms may hinder the market growth.

Regional Insights:

North America Dominated the Market Owing to the Highest Defense Expenditure

North America held the largest electronic warfare market share in 2022. The regional growth can be credited to the highest expenditure on the defense sector from the U.S. Department of Defense.

The Asia Pacific market is poised to expand at the highest CAGR during the forecast period. The growing defense expenditure from China, Japan, Australia, and India is proliferating the regional growth.

Competitive Landscape:

Prominent Companies Focus on Securing Contracts to Sustain their Industry Leadership

Leading market players operating in the field are deploying competitive strategies such as collaborations, joint ventures, mergers and acquisitions, and others. Several companies are also focusing on securing contracts to enhance their market positions.

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Detailed Table of Contents:

  • Introduction
    • Research Scope
    • Market Segmentation
    • Research Methodology
    • Definitions and Assumptions
  • Executive Summary
  • Market Dynamics
    • Market Drivers
    • Market Restraints
    • Market Opportunities
    • Market Trends
  • Key Insights
    • Key Industry Developments - Key Contracts & Agreements, Mergers, Acquisitions and Partnerships
    • Latest Technological Advancements
    • Porters Five Forces Analysis
    • Supply Chain Analysis
    • Quantitative Insights – Russia-Ukraine War Impact on Global Electronic Warfare Market
  • Global Electronic Warfare Market Analysis, Insights and Forecast, 2019-2030
    • Key Findings / Definitions
    • Market Analysis, Insights and Forecast - By End User
        • Land force
        • Air
        • Naval
    • Market Analysis, Insights and Forecast - By Platform
        • Aircraft
        • Weapon
        • Naval Ships
        • Vehicle
        • Others
    • Market Analysis, Insights and Forecast - By Type
        • Electronic Support
        • Electronic Protection
        • Electronic Attack
        • Others
    • Market Analysis, Insights and Forecast - By Technology
        • Antennas
        • Anti-Jam Electronic Protection system
        • Directed Energy Weapon
        • IR Missile warning system
        • Optical attack solutions
        • Others
    • Market Analysis, Insights and Forecast - By Region
        • North America
        • Europe
        • Asia Pacific
        • Middle East & Africa
        • Latin America
  • North America Electronic Warfare Market Analysis, Insights and Forecast, 2019-2030
    • Market Analysis, Insights and Forecast - By End User
      • Land force
      • Air
      • Naval
    • Market Analysis, Insights and Forecast - By Platform
      • Aircraft
      • Weapon
      • Naval Ships
      • Vehicle
      • Others

TOC Continued...!

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Key Industry Development:

July 2023- Lockheed Martin received a contract worth USD 192.2 million to build electronic warfare systems to help Apache helicopters target enemy radars. The company would manufacture while maintaining the hardware and engineering of a modernized Radar Frequency Interferometer (MRFI).

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