Global Electronic Warfare Systems Market Growth Analysis 2024 – Forecast Market Size And Key Factors Driving Growth

Overview and Scope
Electronic warfare systems encompass a range of technologies and capabilities designed to manipulate or exploit electromagnetic energy for offensive or defensive military purposes, including disrupting or deceiving enemy communications, radar, and other electronic systems. These systems are utilized in modern military operations to gain a tactical advantage by denying or manipulating the enemy’s use of the electromagnetic spectrum, enhancing situational awareness, and protecting friendly forces from electronic threats.

Sizing and Forecast
The electronic warfare systems market size has grown strongly in recent years. It will grow from $17.09 billion in 2023 to $18.01 billion in 2024 at a compound annual growth rate (CAGR) of 5.4%.  The  growth in the historic period can be attributed to military modernization efforts, geopolitical tensions, increased defense budgets, evolving threat landscape, and proliferation of electronic warfare capabilities.

The electronic warfare systems market size is expected to see strong growth in the next few years. It will grow to $22.43 billion in 2028 at a compound annual growth rate (CAGR) of 5.6%.  The growth in the forecast period can be attributed to growing demand for spectrum dominance, expansion of cyber warfare capabilities, emphasis on network-centric warfare, focus on counter-unmanned aircraft system (UAS) capabilities, demand for electronic warfare training and simulation. Major trends in the forecast period include adoption of cognitive electronic warfare systems, emphasis on electronic warfare resilience and survivability, development of multifunctional and software-defined systems, rise of cognitive electronic attack techniques, focus on spectrum management and electronic spectrum superiority.

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Segmentation & Regional Insights
The electronic warfare systems market covered in this report is segmented –
1) By Product: Jammer, Countermeasure System, Decoy, Directed-Energy Weapon, Other Products
2) By Capability: Electronic Support, Electronic Attack, Electronic Protection
3) By Application: Airborne, Naval, Land

North America was the largest region in the electronic warfare systems market in 2023. The regions covered in the electronic warfare systems market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.

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Major Driver Impacting Market Growth
The territorial disputes and geopolitical instability is expected to propel the growth of the electronic warfare systems market going forward. Territorial disputes involve disagreements between two or more states over the control or ownership of a specific geographical area, while geopolitical instability refers to the unpredictable and volatile conditions within and between nations, often resulting from shifts in power dynamics, regional conflicts, or geopolitical rivalries. Electronic warfare systems in territorial disputes and geopolitical instability provide capabilities that can influence battlespace information, control the electromagnetic spectrum, and deny adversaries access to certain areas or airspace. For instance, in February 2024, according to the Institute for Economics and Peace (IEP), an Australia-based independent and non-partisan organization, conflict-related deaths rose by 45% in the year before Russia invaded Ukraine, with over 100,000 total deaths being recorded in 2021, while the total number of drone attacks increased by 40.8% in 2022. Therefore, the territorial disputes and geopolitical instability is driving the growth of the electronic warfare systems market.

Key Industry Players
Major companies operating in the electronic warfare systems market are Raytheon Technologies Corporation, The Boeing Company, Lockheed Martin Corporation, General Electric Company, General Dynamics Corporation, Northrop Grumman Corporation, BAE Systems PLC, Thales Group, L3Harris Technologies Inc., Textron Inc., Leonardo S.p.A., Rheinmetall AG, CACI International Inc., Elbit Systems Ltd., Israel Aerospace Industries, SAAB AB, General Atomics, Viasat Inc., Leonardo DRS, Curtiss-Wright Corporation, Cobham PLC, ASELSAN AS, Hensoldt Group, QinetiQ Group, Exelis Inc., Mercury Systems Inc., Ultra Electronics Holdings plc, Kratos Defense & Security Solutions, Aeroflex Inc., Chemring Group plc

The electronic warfare systems market report table of contents includes:
1. Executive Summary

2. Electronic Warfare Systems Market Characteristics
3. Electronic Warfare Systems Market Trends And Strategies
4. Electronic Warfare Systems Market – Macro Economic Scenario
5. Global Electronic Warfare Systems Market Size and Growth
   .
   32. Global Electronic Warfare Systems Market Competitive Benchmarking
6. Global Electronic Warfare Systems Market Competitive Dashboard
7. Key Mergers And Acquisitions In The Electronic Warfare Systems Market
8. Electronic Warfare Systems Market Future Outlook and Potential Analysis
9. Appendix

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