In The Electronic Warfare Market the U.S. Department of Defense (DoD) is set to invest approximately USD 25.8 billion in the research, development, test, and evaluation (RDT&E) in the coming years. Also, it is planning to spend around USD 27.8 billion to procure electronic warfare systems. It would also propel The Electronic Warfare Market growth by 2027. Major industry position stoked by the presence of major companies, such as Saab AB, BAE Systems, and Thales Group in this region The report states that the electronic warfare market size was USD 26.50 billion in 2019 and is projected to reach USD 29.46 billion by 2027, thereby exhibiting a CAGR of 4.81% during the forecast period.
The electronic warfare market is anticipated to gain momentum from the ever-increasing technological advancements and the rising adoption of cyber EW worldwide. Cyber EW helps in refining the offensive and defensive purposes. It is capable of covering a wide range of cyberspace and the electromagnetic environment. This information is given by Fortune Business Insights™ in a new report, titled, “Electronic Warfare Market Size, Share & Covid-19 Impact Analysis, By Domain (Electronic Attack, Electronic Protection, and Electronic Support), By Equipment (Jammers, Antennas, Radar Warning Receiver, Anti-radiation Missiles, Directed Energy Weapons, and Others), By Platform (Air-based, Sea-based, Land-based), and Regional Forecast, 2020-2027.” The report further states that the electronic warfare market size was USD 26.50 billion in 2019 and is projected to reach USD 29.46 billion by 2027, thereby exhibiting a CAGR of 4.81% during the forecast period.
COVID-19 Pandemic: Urgent Need to Enhance Immune Systems to Aid Growth
The emergence of the COVID-19 pandemic has brought the world to a complete halt. Even though some of the manufacturing companies have resumed their operations, certain norms, such as social distancing and low workforce are to be followed mandatorily. The pandemic has also affected the supply chains and business confidence severely. Our report will help you to overcome such situations by adopting the best strategy provided by our team of highly skilled analysts.
This Report Answers the Following Questions:
- What are the current market trends?
- What are the challenges and opportunities in the market?
- Which segment is set to dominate the market?
- How are the companies trying to generate sales of EW to compete in the market?
Browse Summary of this Research Report:
https://www.fortunebusinessinsights.com/electronic-warfare-market-103290
Highlight of the Report: While making the report, we segmented the market on the basis of product, type, consumption, distribution channel, and region. Based on the segmentation, we made a list of companies and conducted a detailed analysis of their financial positions, product portfolios, and growth strategies. Our next step included the study of core competencies of key players and their market share to anticipate the degree of competition. The bottom-up procedure was conducted to arrive at the overall size of the market.
Drivers & Restraints-
Integration of UAVs & Electronic Warfare Systems to Spur Growth
Over the past few years, the usage of unmanned aerial vehicles (UAVs) in the military forces across the globe has surged. It occurred because of the monitoring, imagery mapping, and surveillance of combat operations. The integration of surveillance data and imagery with EW can provide more information about the situational awareness. It is a major factor that is set to contribute to the electronic warfare market growth in the coming years. Several prominent companies and ruling bodies are investing huge sums in the exploitation of this relationship between the EW and the UAVs. However, EE systems are very expensive. Hence, the developing countries prefer conventional systems. It may hinder the market growth.
Segment-
Electronic Support Segment to Lead Owing to Rising Demand for ISR from Defense Sector
In terms of domain, the market is segregated into electronic support, electronic protection, and electronic attack. Out of these, the electronic support segment is expected to exhibit the largest electronic warfare market share in the coming years and remain in the leading position. This growth is attributable to the high demand for intelligence, surveillance, and reconnaissance (ISR) techniques and equipment from the defense sector worldwide.
Regional Analysis-
Presence of Numerous Industry Giants to Favor Growth in Europe
Geographically, North America held USD 9.28 billion in terms of revenue in 2018. This growth is attributable to the rising terrorism, as well as political and territorial disputes occurring in this region. In addition to that, the U.S. Department of Defense (DoD) is set to invest approximately USD 25.8 billion in the research, development, test, and evaluation (RDT&E) in the coming years. Also, it is planning to spend around USD 27.8 billion to procure electronic warfare systems. It would also propel the market growth in this region.
Europe, on the other hand, is set to remain in the second position stoked by the presence of major companies, such as Saab AB, BAE Systems, and Thales Group in this region. Also, the rising investments in the development and procurement of electronic warfare systems would augment growth. Asia Pacific would exhibit rapid growth backed by the need to enhance the warfighting capabilities of the defense forces in the developing countries, such as India and China.
Get Sample PDF Brochure:
https://www.fortunebusinessinsights.com/enquiry/request-sample-pdf/electronic-warfare-market-103290
Competitive Landscape-
Renowned Companies Focus on Receiving New Contracts from Defense Forces
The market is fragmented with the presence of a large number of companies worldwide. Amongst them, Lockheed Martin Corporation is in the top position on account of its persistent research and development activities to unveil state-of-the-art products in the market. Nowadays, several companies are focusing on bagging new contracts from the government agencies to deliver their in-house products. Below are a couple of the latest industry developments:
- January 2020: Lockheed Martin Corporation received a new contract from the U.S. Navy. It is worth USD 43 million. It would help the company to upgrade the E-2D AN/ALQ-217 Electronic Support Measures (ESM) system of the E-2D Advanced Hawkeye.
- January 2019: The Space and Naval Warfare Systems Center Atlantic (SPAWAR) provided a five-year contract worth USD 898 million to General Dynamics Information Technology (GDIT) for Navy Cyber Mission Engineering Support.
- April 2019: The U.S. Navy awarded a new contract to Harris Corporation to manufacture and provide Integrated Defensive Electronic Countermeasures (IDECM) jammers. These are meant for the F/A-18C/D/E/F variants.
About Us:
Fortune Business Insights™ offers expert corporate analysis and accurate data, helping organizations of all sizes make timely decisions. We tailor innovative solutions for our clients, assisting them to address challenges distinct to their businesses. Our goal is to empower our clients with holistic market intelligence, giving a granular overview of the market they are operating in.
Our reports contain a unique mix of tangible insights and qualitative analysis to help companies achieve sustainable growth. Our team of experienced analysts and consultants use industry-leading research tools and techniques to compile comprehensive market studies, interspersed with relevant data.
At Fortune Business Insights™, we aim at highlighting the most lucrative growth opportunities for our clients. We, therefore, offer recommendations, making it easier for them to navigate through technological and market-related changes. Our consulting services are designed to help organizations identify hidden opportunities and understand prevailing competitive challenges.
Contact Us:
Fortune Business Insights™ Pvt. Ltd.
308, Supreme Headquarters,
Survey No. 36, Baner,
Pune-Bangalore Highway,
Pune - 411045, Maharashtra, India.
Phone:
US: +1 424 253 0390
UK: +44 2071 939123
APAC: +91 744 740 1245
21039