According to a new market research report "Electronic Warfare Market Forecast Analysis (2014- 2020)", by MarketsandMarkets, the total global electronic warfare market is expected to reach $15,590 million by 2020 with a CAGR of 4.50%.
Electronic warfare is an indispensable component of any military force. The capability and efficiency of the electronic warfare system can change the outcome of a war. Electronic warfare systems in the past consisted of analog systems with capabilities limited by the hardware and software. The advancements in the field of electronics enable today's electronic warfare systems to incorporate more digital capability and faster signal processors enable better performance.
Though airborne and naval platforms have dominated electronic warfare in the past decade, the land-based electronic warfare systems are now gaining importance. There is also an increasing popularity of smaller electronic warfare systems that can be integrated with smaller platforms like unmanned aerial vehicles (UAVs) and patrol vessels.
The market will see considerable growth due to stealth aircrafts and naval vessels. These platforms are hard to detect and track due to which the electronic warfare system will play a crucial role with respect to maintaining stealth, and at the same time, counter stealth.
The global Electronic Warfare Market is estimated to be $12.15 billion in 2014 and is expected to register a CAGR of 4.50% to reach $15.59 billion in 2020. The growth regions will be Latin America, Middle East and Asia-Pacific.
Brazil will be the leader in the Latin American region due to their commitment to electronic war systems' research, development and implementation. In Asia and Middle-East the growth will be from border disputes and the response to these disputes. The agenda for the briefing includes discussion on key high growth markets, thereby marking the growth trend in the electronic warfare market. Furthermore, a briefing is conducted on the competitive scenario and geographic trends and opportunities inthe United States, Europe, China, Canada and Brazil.