The global electronic warfare market is anticipated to witness growth over the forecast period. Development across the electromagnetic spectrum is expected to be a key factor driving the market growth. Furthermore, widespread use of electronic and associated equipment along with weapon systems has led to the development of electronic warfare systems, as they are needed to detect and counter these weapons. Technological proliferation, advancements in the field of electronics, and increasing adoption of electro-optic, infrared and visual techniques such as laser are expected to favorably impact electronic warfare market growth over the next few years. Electronic warfare has become an integral part of strategic landscape for all warfighters. Cold-wars, political conflicts, and territorial disputes are expected positively impact the electronic warfare market over the forecast period. Increasing the popularity of small electronic systems that can be integrated within platforms such as patrol vessels and unmanned aerial vehicles (UAVs) is also expected to drive market growth.
The market is expected to witness substantial growth owing to naval vessels and stealth aircraft. The aforementioned platforms are difficult to track or detect, thereby making the adoption of electronic warfare systems crucial. Defense budget cut in the U.S. and Europe is expected to pose a challenge to electronic warfare market growth over the forecast period. Further, economic concerns in developing regions may also hinder the market. The need to achieve faster and efficient systems with an ability to reduce time lag provides avenues for market growth. Major types of electronic warfare include Electronic Counter Measures (ECM), Electronic Counter-Counter Measures (ECCM), and Electronic Support Measures (ESM).
The electronic warfare market is highly fragmented with several industry players focusing on mergers, acquisitions, and joint ventures as a part of their growth strategy. For instance, the Javelin Joint Venture is a partnership between Raytheon and Lockheed Martin. Key industry participants include BAE Systems, Lockheed Martin Corporation, Raytheon Co., L-3 Communications Holdings Inc., Teledyne Defense Ltd., IAI Elta, Rockwell Collins, and Alliant Techsystems, Inc.
This report has a service guarantee. We stand by our report quality.
We are in compliance with GDPR & CCPR norms. All interactions are confidential.
Design an exclusive study to serve your research needs.
Get your queries resolved from an industry expert.
"The quality of research they have done for us has been excellent..."
Artificial Intelligence (AI), Virtual Reality (VR), and Augmented Reality (AR) solutions are anticipated to substantially contribute while responding to the COVID-19 pandemic and address continuously evolving challenges. The existing situation owing to the outbreak of the epidemic will inspire pharmaceutical vendors and healthcare establishments to improve their R&D investments in AI, acting as a core technology for enabling various initiatives. The insurance industry is expected to confront the pressure associated with cost-efficiency. Usage of AI can help in reducing operating costs, and at the same time, can increase customer satisfaction during the renewal process, claims, and other services. VR/AR can assist in e-learning, for which the demand will surge owing to the closure of many schools and universities. Further, VR/AR can also prove to be a valuable solution in providing remote assistance as it can support in avoiding unnecessary travel. The report will account for Covid19 as a key market contributor.