Electronic Warfare Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)

The Electronic Warfare Market Report is Segmented by Capability (Electronic Attack, Electronic Protection, and Electronic Support), Platform (Air, Sea, Land, and Space), and Geography (North America, Europe, Asia-Pacific, Latin America, and the Middle East and Africa). The Report Offers Market Size and Forecast for all the Above Segments in Value (USD).

Electronic Warfare Market Size

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Electronic Warfare Market Summary
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Study Period 2019 - 2029
Market Size (2024) USD 19.30 Billion
Market Size (2029) USD 24.76 Billion
CAGR (2024 - 2029) 5.11 %
Fastest Growing Market North America
Largest Market Asia Pacific

Major Players

Electronic Warfare Market Major Players

*Disclaimer: Major Players sorted in no particular order

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Electronic Warfare Market Analysis

The Electronic Warfare Market size is estimated at USD 19.30 billion in 2024, and is expected to reach USD 24.76 billion by 2029, growing at a CAGR of 5.11% during the forecast period (2024-2029).

The ongoing border disputes between several nations as well as the changing nature of modern warfare are expected to generate substantial demand for sophisticated electronic warfare systems that possess advanced capabilities thereby generating significant market growth during the forecast period. Moreover, the development of multilayered defensive systems owing to significant technological developments as well as the growing integration of electronics into military hardware is expected to bolster the growth of the market in the coming years.

On the other hand, growth in complexities concerning the integration of electromagnetic systems will detriment market growth. 

Significant progress in terms of the development of cognitive electronic warfare which refers to the integration of advanced technologies such as artificial intelligence (AI) and neural networks to manufacture faster systems with minimal lag in threat detection and tracking will alter the current market dynamics, drive innovation from the market players and create potential business opportunities during the forecast period. 

Electronic Warfare Market Trends

Sea Segment Will Showcase Remarkable Growth During the Forecast Period

The growth in military expenditure globally has led to various defense personnel worldwide retrofitting naval vessels with new-generation electromagnetic solutions which will help the naval forces gain a competitive edge during modern warfare situations. According to the data provided by the Stockholm International Peace Research Institute (SIPRI), in 2022, the US defense expenditure (USD 877 billion) accounted for nearly 40% of the global total (USD 2.2 trillion).

On the other hand, there has been significant growth in electronic warfare programs for naval warships to increase their defense capabilities against anti-ship missiles. For instance, in November 2023, Babcock in collaboration with Elbit Systems UK announced that a new electromagnetic warfare system, under joint development was approved for installation onboard the warships of the UK Royal Navy. The new and improved Maritime Electronic Warfare Program (MEWP) will provide an enhanced defensive capability against anti-ship missiles and once operational, will help to improve the detection and identification of radar signals over greater ranges leading to faster decision-making process, enhancing situational awareness, and improving the overall ship protection. 

Electronic Warfare Market : Revenue (%), by Capability, Global, 2021

Asia-Pacific to Dominate the Market During the Forecast Period

Notable growth in terms of military spending by various countries within the region has led to an increase in the demand for advanced electronic warfare systems. Moreover, defense personnel in several countries within the region, in recent years, have increased their focus towards the acquisition of next-generation warfare solutions as well as undergoing advanced electronic warfare training to improve military proficiencies. For instance, in September 2022, BAE Systems plc was awarded a USD 76 million contract to provide an electronic warfare training capability to the air force of an undisclosed country in the Asia-Pacific over two years. Moreover, under the contract, Elbit Systems Ltd. will help to supply the Air Force of the undisclosed Asia-Pacific country with cutting-edge solutions enabling aircrews to conduct airborne training in a real-life, multi-threat EW arena.

Various countries within the region are now stepping up to improve their defense fleet with advanced aircraft that have been integrated with electronic warfare capabilities. For instance, in April 2023, South Korea announced the approval of major acquisition programs that would enable the country to develop a new electronic warfare aircraft under a contract worth USD 1.41 billion. The project which is anticipated to be carried out from 2024 to 2032 will lead to the new aircraft being upgraded with cutting-edge technologies to be used for jamming and disrupting adversarial air defenses as well as command and communications systems. 

Electronic Warfare Market : Growth Rate by Region (2022-2027)

Electronic Warfare Industry Overview

The electronic warfare market is fragmented and marked by the presence of global and local players competing in technology and product offerings. Some major market players are Lockheed Martin Corporation, L3Harris Technologies, Inc., Northrop Grumman Corporation, RTX Corporation, and Leonardo S.p.A., amongst others.

Various players in the market are investing significantly in research and developing advanced next-generation warfare products having higher electromagnetic capabilities. Furthermore, various players are collaborating with defense forces worldwide to understand the military requirements and develop cutting-edge technologies such as radio frequency-enabled cyber (cyber capabilities within electronic warfare systems) while also working towards business expansion. In addition, the higher geographical presence of international companies coupled with significantly growing investment in new technologies as compared to their regional counterparts is anticipated to lead to international companies increasing their market share significantly in the years to come.

Electronic Warfare Market Leaders

  1. Lockheed Martin Corporation

  2. L3Harris Technologies, Inc.

  3. RTX Corporation

  4. Leonardo S.p.A.

  5. Northrop Grumman Corporation

*Disclaimer: Major Players sorted in no particular order

Electronic Warfare Market Concentration
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Electronic Warfare Market News

In December 2023, Lockheed Martin Corporation supported governmental testing of the Advanced Off-Board Electronic Warfare (AOEW) system’s electronic attack capabilities which has been installed on an MH-60R helicopter belonging to the US Army.

In November 2023, BAE Systems plc announced that they are in the process of developing custom microelectronics for the next-generation radar, electronic warfare, and communication applications. Moreover, the FAST Labs research and development organization, which is part of BAE Systems plc, was awarded a USD 5 million contract by the US Office of Naval Research for the Common-architecture Amplifier for Low-cost, Efficient, SWaP-Constrained Environments (COALESCE) program under which Fast Labs will develop advanced Gallium Nitride based monolithic microwave integrated circuit (MMIC) and module electronics.

Electronic Warfare Market Report - Table of Contents

  1. 1. INTRODUCTION

    1. 1.1 Study Assumptions

    2. 1.2 Scope of the Study

  2. 2. RESEARCH METHODOLOGY

  3. 3. EXECUTIVE SUMMARY

  4. 4. MARKET DYNAMICS

    1. 4.1 Market Overview

    2. 4.2 Market Drivers

    3. 4.3 Market Restraints

    4. 4.4 Porter's Five Forces Analysis

      1. 4.4.1 Bargaining Power of Buyers/Consumers

      2. 4.4.2 Bargaining Power of Suppliers

      3. 4.4.3 Threat of New Entrants

      4. 4.4.4 Threat of Substitute Products

      5. 4.4.5 Intensity of Competitive Rivalry

  5. 5. MARKET SEGMENTATION

    1. 5.1 Capability

      1. 5.1.1 Electronic Attack

      2. 5.1.2 Electronic Protection

      3. 5.1.3 Electronic Support

    2. 5.2 Platform

      1. 5.2.1 Air

      2. 5.2.2 Sea

      3. 5.2.3 Land

      4. 5.2.4 Space

    3. 5.3 Geography

      1. 5.3.1 North America

        1. 5.3.1.1 United States

        2. 5.3.1.2 Canda

      2. 5.3.2 Europe

        1. 5.3.2.1 United Kingdom

        2. 5.3.2.2 Germany

        3. 5.3.2.3 France

        4. 5.3.2.4 Russia

        5. 5.3.2.5 Rest of Europe

      3. 5.3.3 Asia-Pacific

        1. 5.3.3.1 China

        2. 5.3.3.2 India

        3. 5.3.3.3 Japan

        4. 5.3.3.4 South Korea

        5. 5.3.3.5 Rest of Asia-Pacific

      4. 5.3.4 Latin America

        1. 5.3.4.1 Brazil

        2. 5.3.4.2 Mexico

        3. 5.3.4.3 Rest of Latin America

      5. 5.3.5 Middle East and Africa

        1. 5.3.5.1 Saudi Arabia

        2. 5.3.5.2 United Arab Emirates

        3. 5.3.5.3 Rest of Middle-East and Africa

  6. 6. COMPETITIVE LANDSCAPE

    1. 6.1 Vendor Market Share

    2. 6.2 Company Profiles

      1. 6.2.1 Lockheed Martin Corporation

      2. 6.2.2 L3Harris Technologies, Inc.

      3. 6.2.3 BAE Systems plc

      4. 6.2.4 ASELSAN A.S.

      5. 6.2.5 Northrop Grumman Corporation

      6. 6.2.6 RTX Corporation

      7. 6.2.7 IAI

      8. 6.2.8 THALES

      9. 6.2.9 Saab AB

      10. 6.2.10 Leonardo S.p.A.

      11. 6.2.11 Elbit Systems Ltd.

      12. 6.2.12 HENSOLDT AG

  7. 7. MARKET OPPORTUNITIES AND FUTURE TRENDS

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Electronic Warfare Industry Segmentation

Electronic Warfare involves the use of electromagnetic spectrum signals such as radio, infrared, or radar to attack or impede enemy operations. Moreover, electronic warfare can help to disrupt, deny, and degrade the ability of the enemy forces to make use of such electromagnetic signals.

The electronic warfare market is segmented by capability, platform, and geography. By capability, the market is segmented into electronic attack, electronic protection, and electronic support. By platform, the market is segmented into air, sea, land, and space. The report also covers the market sizes and forecasts for the electronic warfare market in major countries across different regions. For each segment, the market size is provided in terms of value (USD).

Capability
Electronic Attack
Electronic Protection
Electronic Support
Platform
Air
Sea
Land
Space
Geography
North America
United States
Canda
Europe
United Kingdom
Germany
France
Russia
Rest of Europe
Asia-Pacific
China
India
Japan
South Korea
Rest of Asia-Pacific
Latin America
Brazil
Mexico
Rest of Latin America
Middle East and Africa
Saudi Arabia
United Arab Emirates
Rest of Middle-East and Africa
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Electronic Warfare Market Research FAQs

The Electronic Warfare Market size is expected to reach USD 19.30 billion in 2024 and grow at a CAGR of 5.11% to reach USD 24.76 billion by 2029.

In 2024, the Electronic Warfare Market size is expected to reach USD 19.30 billion.

Lockheed Martin Corporation, L3Harris Technologies, Inc., RTX Corporation, Leonardo S.p.A. and Northrop Grumman Corporation are the major companies operating in the Electronic Warfare Market.

North America is estimated to grow at the highest CAGR over the forecast period (2024-2029).

In 2024, the Asia Pacific accounts for the largest market share in Electronic Warfare Market.

In 2023, the Electronic Warfare Market size was estimated at USD 18.31 billion. The report covers the Electronic Warfare Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Electronic Warfare Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.

Electronic Warfare Industry Report

Statistics for the 2024 Electronic Warfare market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Electronic Warfare analysis includes a market forecast outlook to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.

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Electronic Warfare Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)