Electronic warfare is a type of warfare wherein radio and electromagnetic waves are used as weaponry. Electronic warfare has gained significant traction over the past few years owing to advancements in technologies and increasing investment into R&D of advanced electronic equipment that can be used in wars by governments of various developed and developing economies.
Developments in electronic spectrum coupled with technological advancements in equipment used in warfare, especially in radar and infrared systems are key factors boosting growth of the global electronic warfare market. Also, increasing cross-border conflicts and various benefits offered by electronic equipment are other factors anticipated to fuel growth of the global market over the forecast period. But, high associated costs and issues related to use of electronic equipment in wars are major factors anticipated to hamper growth of the target market over the forecast period. Moreover, lack of proper knowledge about advanced radar and laser systems in emerging economies is another factor expected to limit growth of the global market to a significant extent.
The global electronic warfare market report has been segmented on the basis of type, equipment, platform, and region. On the basis of region, the global electronic warfare market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.
The market in North America accounted for highest share in the global market in terms of revenue and is projected to maintain its dominant revenue contribution over the forecast period. This can be attributed to increasing adoption of advanced electronic systems in defense sectors coupled with rising unrest between neighboring nations and increasing cross-border conflicts in the region.
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Revenue from the market in Europe is estimated to account for second-highest share in 2017, and is closely followed by the market in Asia Pacific. This is attributed to increasing political unrest in countries in the region coupled with increasing incidence number of illegal immigrants in the region. The market in Asia Pacific is projected to register highest CAGR of X.X% over the forecast period, owing to increasing government investment into development of defense sector especially, in emerging economies such as China and India.
Prominent players in the global electronic warfare market include Rockwell Collins Inc., BAE Systems Plc., SAAB AB, Alliant Techsystems Inc., Lockheed Martin Corporation, Thales Group, Israel Aerospace Industries Ltd., The Raytheon Company, Northrop Grumman Corporation, and Boeing.