Electronic Warfare Market size is expected to be valued at USD 17,786.4 million in 2022 which is expected to grow at a CAGR of 5.9% over 2022-2028. Electronic warfare is used by the Department of Defense (DOD) for military actions that control the electromagnetic spectrum by utilizing electromagnetic energy and striking the enemy. Electronic warfare control, command, and support by permitting military commanders to contact the spectrum to connect with militaries while avoiding potential challengers from retrieving the spectrum to create an operative image and interconnect with their forces. Electronic warfare has capabilities such as electronic support, electronic attack, and electronic protection. The increasing developments and innovations for novel warfare can lead to the growth of the electronic warfare market. Moreover, increasing demand for intelligence, self-protection abilities, and surveillance and increasing adoption of electronic warfare products are some primary factors that can boost the global electronic warfare market. Apart from these, an increase in participation of tactical and strategic parts played by electronic warfare in contemporary warfare such as an electronic attack, electronic support, and electronic protection can also accelerate the market in the future. However, some factors such as the increasing use of electronic warfare abilities on the unmanned system and the incapability to report diverse or multiple threats can restrain the growth of the market. The susceptibility of unmanned electronic warfare market that can be attacked by cyber-attackers can hinder the growth. Companies should focus on developing next-generation missile and air defense systems that can strengthen the armed forces further can create an opportunity for electronic warfare market growth.
Recent Market Developments:
In October 2020, the New Generation Anti-Radiation Missile (Rudram-1), India’s first native anti-radiation missile was successfully tested by The Indian Ministry of Defence (MoD)
In February 2021, the French defense procurement agency (DGA) offered a contract to Thales Group and Airbus S.A.S.to upgrade and develop the spectrum investigation skills, serious signals monitoring, and direction discovery for the French forces.