Electronic Warfare Market Growth Report and Size by 2031
The electronic warfare market size is projected to reach US$ 34.94 billion by 2031 from US$ 20.07 billion in 2023. The market is expected to register a CAGR of 7.2% during 2023–2031. Deployment of sensors in space for improved electronic warfare capabilities is likely to remain a key trend in the market.
Electronic Warfare Market Analysis
The major stakeholders in the global electronic warfare market ecosystem include raw material (hardware & component) providers, electronic warfare manufacturers, government organizations, regulatory bodies, and end customers. Component and hardware providers provide various components & parts to electronic warfare manufacturers. Some of the key electronic warfare manufacturers included in this report include L3Harris Technologies, Inc., Raytheon Technology Corporation, Lockheed Martin Corporation, Saab Ab, BAE Systems Plc, Thales Group, Northrop Grumman Corporation, Cobham Plc (Eaton), Leonardo Spa, And Textron. The key players operating in this market are constantly engaging in the development of electronic warfare systems.
Electronic Warfare Market Overview
System integrators play a vital role in installing the electronic warfare at the required locations. System integrators are tasked with integrating these electronic warfare systems into a networked capability and conducting field trials to demonstrate and test the integration and effects of EW systems. Some of these stakeholders include government organizations and regulatory bodies various countries Department of Defense (DOD) such as United States Department of Defense (DoD, USDOD or DOD), Ministry of Defense of the Russian Federation, Ministry of National Defense People's Republic of China, Israel's Ministry of Defense, India Ministry of Defense, German Federal Ministry of Defense (BMVG), UK Ministry of Defense (MOD or MoD) among others.
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Electronic Warfare Market: Strategic Insights
Market Size Value in US$ 18,192.8 million in 2021 Market Size Value by US$ 27,797.2 million by 2028 Growth rate CAGR of 6.2% from 2021 to 2028 Forecast Period 2021-2028 Base Year 2021
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Electronic Warfare Market: Strategic Insights
| Market Size Value in | US$ 18,192.8 million in 2021 |
| Market Size Value by | US$ 27,797.2 million by 2028 |
| Growth rate | CAGR of 6.2% from 2021 to 2028 |
| Forecast Period | 2021-2028 |
| Base Year | 2021 |
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Electronic Warfare Market Drivers and Opportunities
Deployment of Electronic Warfare Systems on Unmanned Vehicles
Armed forces and non-state groups employ 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 grows. Unmanned aerial vehicles have become an important feature of armed forces worldwide. Transforming surveillance and imagery data has become easier by deploying electronic warfare devices on unmanned platforms. Various unmanned EW missions benefit from integrating unmanned systems with communication jammers or electronic surveillance equipment. Furthermore, unmanned EW planes do not require people, lowering the chance of human casualties. As a result of these advantages, countries including the US, India, and China plan to purchase and deploy additional UAVs in their military forces.
Technological Advancements in Electronic Warfare
In the information age battlespace, next-generation fighters will encounter a drastically new electronic warfare and electronic intelligence environment. Rapid technological advancements will significantly impact 21st-century conflicts because advanced systems will provide increased situational awareness; better threat assessment; and more accurate, timely, automated matching of active signals with the resources of widely distributed libraries. Within a dispersed virtual environment, operators and analysts will be able to collaborate in real-time. They will configure, launch, and control highly efficient software agents to efficiently and swiftly complete geographically distributed activities and complicated analyses within a dynamic operational context.
Exciting new possibilities are developing due to developments in information technology, piquing the interest of military officials and leading to requirements that take advantage of the latest technologies while driving even more technological advancements. The electronic warfare tools are fast developing and the Pentagon, which is the headquarter for United States defense is also preparing ahead for the country’s future military usage from the standpoint of operational war fighting.
Electronic Warfare Market Report Segmentation Analysis
Key segments that contributed to the derivation of the electronic warfare market analysis are component, application, and product type.
- Based on component, the electronic warfare market is divided into hardware, software, and services. The hardware segment held a larger market share in 2023.
- Based on application, the electronic warfare market is segmented into electronic attack, electronic protection, and electronic warfare support. The electronic warfare support segment held a larger market share in 2023.
- By product type, the market is segmented into countermeasure systems, jammers, sensor systems, weapons systems, and others. The sensor systems segment held the largest share of the market in 2023.
Electronic Warfare Market Share Analysis by Geography
The geographic scope of the electronic warfare market report is mainly divided into five regions: North America, Europe, Asia Pacific, Middle East & Africa, and South America.
North America has dominated the market in 2023 followed by Europe and Asia Pacific. Further, Asia Pacific is likely to witness highest CAGR in the coming years. Global military forces no longer have the authority to restrict or refuse freedom of access to activities in space. On the international market, knowledge of space systems and the methods to defeat them is becoming increasingly available. Nations can possess or acquire the capability to disrupt or destroy an adversary's space systems by targeting their satellites in orbit, their ground and space communication nodes, or ground nodes that command the satellites if they so desire. 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.
Electronic Warfare Market Report Scope
Electronic Warfare Market News and Recent Developments
The electronic warfare market is evaluated by gathering qualitative and quantitative data post primary and secondary research, which includes important corporate publications, association data, and databases. A few of the developments in the electronic warfare market are listed below:
The United States Navy awarded Raytheon, an RTX (NYSE: RTX) Business, an $80 million contract in a down select to prototype Advanced Electronic Warfare, or ADVEW, for the F/A-18 E/F Super Hornet. This prototype will be considered as a replacement for the existing AN/ALQ-214 integrated defensive electronic countermeasure and AN/ALR-67(V)3 radar warning receiver with a consolidated solution that will deliver superior electronic warfare capabilities to the backbone of the Navy's carrier air wing. (Source: Raytheon Technologies Corp, Press Release, Dec 2023)
- L3Harris Technologies submitted a proposal this month for the U.S. Navy’s Next Generation Jammer – Low Band (NGJ-LB) competition. L3Harris won the original contract in December 2020 with an “Outstanding” technically evaluated solution that led to a protest by a competitor. The program includes prototype development and deliveries of tactical jamming pods designed to modernize the EA-18G Growler’s Electronic Warfare (EW) capability. (Source: L3Harris Technologies, Press Release, Aug 2023)
Electronic Warfare Market Report Coverage and Deliverables
The “Electronic Warfare Market Size and Forecast (2021–2031)” report provides a detailed analysis of the market covering below areas:
- Electronic warfare market size and forecast at global, regional, and country levels for all the key market segments covered under the scope
- Electronic warfare market trends as well as market dynamics such as drivers, restraints, and key opportunities
- Detailed porter’s five forces analysis
- Electronic warfare market analysis covering key market trends, global and regional framework, major players, regulations, and recent market developments
- Industry landscape and competition analysis covering market concentration, heat map analysis, prominent players, and recent developments for the electronic warfare market
- Detailed company profiles
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
Component, Application, and Product Type
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
Australia, Brazil, Canada, China, France, Germany, India, Italy, Japan, Mexico, Russian Federation, Saudi Arabia, South Africa, South Korea, United Arab Emirates, United Kingdom, United States
Frequently Asked Questions
North America region dominated the electronic warfare market in 2023.
Increasing procurement of electronic warfare systems and deployment of electronic warfare systems on unmanned vehicles are some of the factors driving the growth for electronic warfare market.
Deployment of sensors in space for improved electronic warfare capabilities is one of the major trends of the market.
L3Harris Technologies, Inc., Raytheon Technologies Corporation, Lockheed Martin Corporation, Saab AB, BAE Systems, Thales Group, Northrop Grumman Corporation, Cobham Limited, Leonardo SpA, and General Dynamics are some of the key players profiled under the report.
The estimated value of the electronic warfare market by 2031 would be around US$ 34.93 billion.
The electronic warfare market is likely to register of 7.2% during 2023-2031.
The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.
- Data Collection and Secondary Research:
As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.
Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.
- Primary Research:
The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.
For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.
A typical research interview fulfils the following functions:
- Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
- Validates and strengthens in-house secondary research findings
- Develops the analysis team’s expertise and market understanding
Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:
- Industry participants: VPs, business development managers, market intelligence managers and national sales managers
- Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.
Below is the breakup of our primary respondents by company, designation, and region:
Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.
- 3.1 Macro-Economic Factor Analysis:
We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
- 3.2 Country Level Data:
Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.
- 3.3 Company Profile:
The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
- 3.4 Developing Base Number:
Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.
- Data Triangulation and Final Review:
The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.
We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.
We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.
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