Global Electronic Warfare Market to See CAGR of 6.2% from 2017-2026

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The Global Electronic Warfare market is accounted for $22.19 billion in 2017 and is expected to reach $38.31 billion by 2026 growing at a CAGR of 6.2%.

Factors driving the market growth are increasing reliability, efficiency and effectiveness with the introduction of travelling-wave tube- (TWT) technology which is used for electronic warfare application and development of cognitive electronic warfare technology, growing demand for Integrated EW systems, rising importance of piezoelectric and ferromagnetic materials and expanding conductive technologies. Huge capital investments required for developing EW systems and lack of technical skills are some of the major factors hindering the market growth.

Electronic warfare engages the use of electromagnetic spectrum or direct energy weapons. They are used to control the spectrum or an enemy attack. Electronic warfare ensures uninterrupted access to the electromagnetic spectrum. Electronic warfare also ensures to collect an enemy's radio signals.

Based on capability, electronic support segment has witnessed huge growth as modern warfare techniques are widely adopted in developing countries such as Asia Pacific and Middle East regions. North America is dominating the Electronic Warfare market and the factors favoring the growth of this region are territorial disputes, political disputes, terrorism and rising insurgencies. Asia Pacific has acquired largest market share owing to India and China investing substantially on strengthening defense sector.