Published on : Jan 09, 2017
ALBANY, NY, Jan 09, 2017: The pressing requirement for situational awareness and superiority of data in major military departments across the globe is deemed to emerge as a dominating driver for the market.
The report has carefully arranged the important statistics pertinent to market size forecasts for the next decade. In 2016, the global electronic warfare market held a valuation of US$14.4 bn, which is envisaged to touch US$19.6 bn by 2026 at a CAGR of 3.13% throughout the forecast period. It allows the interested buyers to have a complete trend analysis of the international market with a view to help discern the prospective areas of investment. Within the market dynamics section, the report elaborates on the trend analysis of the market, taking into consideration the procurement patterns, industry consolidation, and widespread practices.
The fundamental concept and requisites of modern warfare are anticipated to bolster the need for electronic warfare systems on a global platform. An increasing number of militaries around the world have moved their focus to significant investments in electronic warfare systems for all the three military divisions, viz. army, navy, and air force.
According to the report, the global electronic warfare market can be segmented into three predominant divisions, which are electronic protection, electronic warfare support, and electronic attack systems. The analysts have predicted the electronic protection systems segment to secure a whopping 50.0% market share. On the other hand, the electronic warfare support and electronic attack systems segments are foretold to secure a 32.0% and 18.0% of market share respectively.
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On the basis of geography, the global electronic warfare market will witness North America as a dominant segment with a healthy share of 41.0%. Asia Pacific and Europe are expected to be on the slower side with a 27.0% and 21.0% market share respectively.
Different militaries of the world are stressing on the augmenting need to improvise their intelligence, surveillance, and reconnaissance (ISR) powers. This has led to the aggressive developments in similar domains, thereby supplementing to the rise of the global electronic warfare market. Within the technological developments section, the report elucidates some of the novel processes and products and innovative additions made to the sector in the recent time. The market could encounter few obstacles on its growth path, which the report has perspicuously explained in the key challenges section.
The competitive landscape analysis presented in the global electronic warfare market report introduces 16 leading players while providing a comprehensive overview of their latest contracts, major alliances, products, services, and other determining factors.
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