The Electronic Warfare Market is expected to grow at CAGR of 5.2% during 2021-2026, according to a report from Stratview Research.
COVID-19 pandemic – Boon or a Curse to the industry?
The outbreak of COVID-19 has severely impacted several industries across the world. Tough government measures such as lockdown of major economies, has pressed the ‘pause button’ for most of the industries. For most of the industries, the revenue has gone down in 2020 and has resumed an uptrend gradually from 2021.
Key insights on Electronic Warfare Market
Electronic Warfare Market is likely to witness an impressive CAGR of 5.2% during the forecast period. Defense modernization agendas and rising procurement of sophisticated electronic warfare systems are estimated to drive the global electronic warfare market.
In terms of regions, the North American region accounted for the largest share of the market for electronic warfare in 2018. Factors such as territorial disputes, rising insurgencies, terrorism, unrest between neighboring countries, and political acrimonies in the region are also driving the EW market growth in this region. Europe and Asia-Pacific are also expected to offer substantial growth opportunities during the forecast period.
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Market Scope & Segmentation
Electronic Warfare Market Share: By Capability Type
Based on the capability type, the market is segmented as electronic support, electronic attack, and electronic protection. The electronic support segment is expected to register the highest growth in the coming five years. This high growth rate is owing to the rising engagement of modern warfare techniques in the emerging economies in the Asia-Pacific and the Middle Eastern regions.
Electronic Warfare Market Share: By Platform Type
Based on the platform type, the market is segmented as airborne, ground, naval, and space. The space segment is estimated to remain dominant during the forecast period driven by the growing use of satellite-based electronic warfare equipment for various military applications.
Electronic Warfare Market Share: By Product Type
Based on the product type, the market is segmented as electronic warfare equipment and electronic warfare operational support. The electronic warfare equipment segment is anticipated to depict a higher growth due to the augmenting procurement of electronic warfare equipment in military ships and aircraft triggered by the merits such as advance electronic protection and electronic support applications.
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Which key questions will this report answer?
This market research report focuses to deliver relevant information regarding the market trends, structure and growth during the forecast period of 2021-2026. It also offers insights into different market segments and other factors affecting the market.
Some of the key questions answered by the report are:
- What is the impact of COVID-19 on the market forecast?
- What are the trends, drivers, and challenges?
- How competitive is the market? Who are the market leaders?
- What are the key strategies adopted by the market players?
- Which segments offer the greatest opportunities?
- Which are the most attractive regions?
- What are the key success factors for the market players?
- How does the business environment impact the market?
- Which strategic alliances have taken place recently and their significance?
Stratview Research’s reports are generated after accumulating data from various authenticated sources. > 10 primary interviews with industry experts are conducted by us for every report. Insights gained from primary interviews, in-depth analysis of company statements and annual reports, accompanied by a number of articles, whitepapers, and reports help us to connect the dots and triangulate the market in the most effective manner.
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