EW market to be driven by faster procurement, deployment on unmanned vehicles, study predictsNews
May 04, 2022
NEW YORK. The global market for electronic warfare (EW) systems will be driven over the next several years by the increasing procurement of EW systems by both developed and developing countries and additional deployment of EW systems on unmanned vehicles, according to a recent study from The Insight Partners, "Electronic Warfare Market Forecast to 2028 -- COVID-19 Impact and Global Analysis By Component (Hardware, Software, and Services), Application (Electronic Attack, Electronic Protection, and Electronic Warfare Support), and Product Type (Countermeasure Systems, Jammers, Sensor Systems, Weapons Systems, and Others).”
According to the study authors, the size of the global EW market will reach $27.79 billion by 2028, up from $18.19 billion in 2021, for a combined annual growth rate (CAGR) of 6.2% during the study period.
Leading the EW market, the authors found, was the hardware segment, with a market share of 64.5% in 2020; the hardware segment is expected to account for 61.6% of the total market in 2028.
By region, the study found that North America dominated the EW market in 2020 with a 32.8% share, and would continue to be the regional leader during the forecast period, accounting for a 31.5% share by 2028; the Asia-Pacific region is the second-largest EW market, followed by Europe.
For additional information visit The Insight Partners website.