The basic purpose of electronic warfare (EW) is to deny any kind of advantage to the opponent, while ensuring friendly unimpeded access to the electromagnetic spectrum. This type of warfare is applied from sea, air, land and space with manned as well as unmanned systems. EW has the capacity to influence different targets ranging from communications, humans, radars and other assets. Global electronic warfare market is expected to make slow but steady growth as far as future business opportunities and growth in revenue is concerned. Increasing security concerns and rising demand from different regions are the major drivers for the global industry for electronic warfare.
Segments in Global Electronic Warfare (EW) Market
Market research reports cover all the major components of electronic warfare market by segmenting them into different sections. The industry is mainly segmented on the basis of the applications, stakeholders and demand from different geographic regions and countries. Electronic attack, protection and support are the three basic applications of modern-day electronic warfare. Major stakeholders in the industry include all government departments pertaining to EW, defense system manufacturers, armed services, sub-component manufacturers and defense software providers. Geographically, the industry is divided into Asia Pacific, Latin America, North America, Middle East, Europe and rest of the world.
Market Trends and Forecasting Reports From 2014-20
Constant exploitation of the electromagnetic spectrum or direct energy is the strongest driving factor for the global electronic warfare market. Rising competition within the segments is also a great source of growth for the existing businesses. As a result, many potential players are aiming at big investments in the industry. The basic purpose of electronic warfare is of ensuring survivability of the naval, land based and airborne platforms. Growing threats like GPS jamming, stealth aircrafts, RCIED and other factors are driving demand within the market. Based on all these factors, the global industry is expected to maintain steady growth in terms of compound annual growth rate.
During the forecasting period from 2014 to 2020, electronic warfare market is expected to grow at an estimated CAGR of 4.50%. Within the five to six years, the global market is anticipated to grow from $12.15 billion in 2014 and become worth more than $15.59billion by 2020. During the forecasting period, United States of America and United Kingdom are poised to attain strongest positions. Emerging countries like India and Brazil on the other hand are expected to witness impressive growth during the forecasting period. Australia, Korea, Canada and such other regions are expected to be the key market, while China will remain to be the tough market to crack for new as well as existing players.