Electronic Warfare Market worth $25.36 Bn by 2021
The report, now available on ASDReports, "Electronic Warfare Market by Category (Electronic Support, Electronic Attack, Electronic Protection), Platform (Airborne, Naval, Land, Unmanned), Product, Technology, Portable, and Region - Global Forecast to 2021", The global electronic warfare (EW) market is projected to reach USD 25.36 Billion by 2021, growing at a CAGR of 4.29% during the forecast period.
This growth is mainly attributed to the increasing number of wars and transnational disputes, emergence of cognitive electronic warfare technology, increased system reliability and efficiency due to the introduction of TWT (travelling-wave tube)-based solutions.
Electronic Warfare Market - Global Forecast to 2021
Electronic support segment to dominate the electronic warfare category market, among all the electronic warfare categories
Electronic support is the largest share-contributing segment in the EW market. It plays a vital role in immediate threat recognition. ESM is used for intelligence gathering in tactical environments. Due to this, the segment dominates the overall electronic warfare category market, and is expected to continue its dominance over the next five years.
Ground-based platform to capture the largest market share in the electronic warfare platform market
The electronic warfare market has been segmented and analyzed on the basis of four platforms namely, air, naval, ground, and unmanned. The ground-based platform segment dominates the overall market, as of 2016. However, the unmanned segment is projected to grow at the highest CAGR during the forecast period. This growth is mainly attributed to the increased proliferation of UAVs, due to which they are increasingly being used by the defense industry.
Asia-Pacific is projected to grow at the highest CAGR in the electronic warfare market from 2016 to 2021
The North America region dominates the electronic warfare market, as of 2016. Whereas, the Asia-Pacific region is projected to grow at the highest CAGR during the forecast period. This is mainly attributed to huge population base, booming economy, increasing funding/investments towards the development of EW products, growing focus of both, international and domestic players on the APAC EW market, and a large number of R&D activities.
Top players in the electronic warfare market
In 2015, the electronic warfare market was dominated by BAE Systems Plc. (U.K.), The Raytheon Company (U.S.), Thales Group (France), Lockheed Martin Corporation (U.S.), and Saab AB (Sweden).
The report segments and analyzes the electronic warfare market on the basis of electronic warfare category (Electronic Support, Electronic Warfare, and Electronic Protection), Platform (Air, Land, Naval, and Unmanned), Product (Directed Energy, Integrated Suits, Jammers, Radar Warning Receivers, DIRCM, Antennas, and Airborne Decoys) and maps these segments across six major regions, namely, North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa.
Source : ASDReports - Market Research - view original press release