Any activity involving the use of the electromagnetic spectrum or directed energy to control the spectrum, attack an adversary, or obstruct hostile attacks is referred to as electronic warfare. 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. During the forecast period, 2021 to 2028, the global electronic warfare market is expected to grow due to increased innovation and the development of new warfare.
Lockheed Martin Corporation, Raytheon Technologies, L3Harris Corporation, Northrop Grumman Corporation, and BAE Systems Plc – Prominent Market Participants in Electronic Warfare Market
The global electronic warfare market, based on geography, the North American region accounted for the highest share in the global electronic warfare market in 2020 and is also expected to grow at the largest CAGR over the forecast period. The US, Canada, and Mexico are key countries considered for market analysis in North America. North American countries have strong military departments, and the US and Canadian military forces have adopted various advanced technologies to provide soldiers with a better version of military products and solutions to protect the nation. Mexico invests ~US$ 5,000 million in defense every year, and thus, it ranks third among the countries with a high number of troops in North America. Mexico has modernized and increased its security capacity to tackle conflicts related to national security. As per SIPRI, military spending in the US reached US$ 778 billion in 2020, up 4.4% from 2019. The US, as the world’s top military spender, contributed 39% to overall military spending in 2020. Rising military spending boosts the adoption of electronic warfare systems. These factors are further boosting the growth of the electronic warfare market across North America.
Lockheed Martin Corporation, Raytheon Technologies, L3Harris Corporation, Northrop Grumman Corporation, and BAE Systems Plc are some of the key market players operating in the global electronic warfare market. The listing of key players is derived by considering multiple factors such as overall revenue, current electronic warfare product portfolio, geographical reach, new product launches, market initiatives, and investment in technology up-gradation, partnerships, and other market-related activities. In addition to these players, there are several other important players operating in the electronic warfare ecosystems which were studies analyzed during the course of this market research study, such as Saab AB, Thales Group, Cobham Limited, Leonardo S.p.A., and Textron Inc. Most of the market initiatives were observed in North America and Europe regions, which have a high potential for market-related products, solutions, and services. A few of the important market initiatives from the industry are mentioned below:
| Year | Development | Region |
| 2022 | Bharat Electronics Ltd received a US$ 144.89 million (Rs 1,109 crore) contract from the India Ministry of Defense to develop electronic warfare equipment for the Indian Air Force. India Defense Research and Development Organization (DRDO) have designed Advanced Electronic Warfare (EW) system ‘Shakti’ the electronic warfare system is specially designed for the Indian Navy. | APAC |
| 2021 | Lockheed Martin has received contract US$ 9.6 million, for enhancing the U.S. Army’s integrated electronic warfare, signals intelligence and cyber platform. The company is working on prototype of (Terrestrial Layer System-Brigade Combat Team, or TLS-BCT) Terrestrial Layer System these TLS-BCT will be mounted on a Stryker vehicle. | North America |
