ELECTRONIC WARFARE MARKET SIZE AND SHARE ANALYSIS - GROWTH TRENDS AND FORECASTS (2024-2031)

Regional Analysis

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North America is expected to remain the dominant player in the global electronic warfare market with a market share of 37.4% in 2024. The region accounts for a significant share of the worldwide defense budget with the U.S. being the highest spender globally. This has translated into increased investments in developing sophisticated electronic warfare capabilities. Some of the key defense contractors in the region, such as Lockheed Martin, Northrop Grumman, and Raytheon, are global leaders in this sector with a strong portfolio of electronic warfare systems and technologies. Established electronic warfare programs of operation along with continuous modernization initiatives undertaken by the U.S. and Canada have positioned North America as the leader in this field.

Asia Pacific has emerged as the fastest growing regional market for electronic warfare technologies in recent years with a CAGR of 7.15%. This can be attributed to ongoing territorial disputes and rising geopolitical tensions that have prompted nations like China and India to substantially boost their defense spending. There is a growing emphasis on developing independent and robust electronic warfare capabilities to enhance operational effectiveness. Local contractors are actively collaborating with global defense majors to acquire critical know-how and build domestic production capabilities. The presence of well-established electronics and telecom industries has provided conducive support infrastructure for manufacturing highly advanced electronic warfare systems. Additionally, increasing procurement of fifth generation fighters along with network centric warfare capabilities by leading nations like Japan, South Korea, and Australia is driving new requirements for upgrading electronic warfare suites. The diverse demand from across Asia Pacific combined with supportive indigenous development policies makes it an attractive market for both foreign and local players.