Report: Global electronic warfare market to grow steadily to reach $19.6bn by 2026
The global electronic warfare market is forecast to register a compound annual growth rate of 3.13% over the ten-year period between 2016 and 2026, according to a report by Strategic Defence Intelligence (SDI).
Titled ‘The Global Electronic Warfare Market 2016-2026’, the report estimates the electronic warfare market value in 2016 at $14.4bn, and that it is expected to grow to $19.6bn by 2026, while the cumulative market value will reach $184.1bn at the end of the forecast period.
Rapid technological advancements and the increasing need for military intelligence, surveillance, and reconnaissance (ISR) capabilities, coupled with the growing emphasis on information superiority and situational awareness, are expected to drive the market for electronic warfare systems globally.
Electronic protection systems is expected to account for the biggest share of the global electronic warfare market at 50%, followed by electronic warfare support systems and electronic attack systems, which are expected to account for 33% and 17%, respectively.
North America will be the highest spender for electronic warfare systems globally, followed by Asia Pacific and Europe.
The US is also pursuing research and testing in electronic warfare through programmes, such as the development of a critical electronic attack system under the Next Generation Jammer project, and the Adaptive Radar Countermeasures (ARC) programme by DARPA to combat hostile adaptive radar systems.
The country also plans to develop a new tool that will allow army personnel to synchronise and integrate electronic warfare signals, adds the report.