Cognitive Electronic Warfare System Market to Reach $71.5 Billion, Globally, by 2033 at 15.6% CAGR: Allied Market Research
Wilmington, Delaware, Sept. 25, 2024 (GLOBE NEWSWIRE) -- Allied Market Research published a report, titled, "Cognitive Electronic Warfare System Market by Capability (Electronic Attack, Electronic Protection, Electronic Support and Electronic Intelligence), Platform (Naval, Airborne and Land and Space): Global Opportunity Analysis and Industry Forecast, 2024-2033". According to the report, the cognitive electronic warfare system market was valued at $17.2 billion in 2023, and is estimated to reach $71.5 billion by 2033, growing at a CAGR of 15.6% from 2024 to 2033.
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Prime determinants of growth
The global cognitive electronic warfare system market is experiencing growth due to rise in focus on upgrading military and, increase in defense budget globally, in trend toward adopting miniaturized and portable electronic warfare solutions. However, complications and complexity in maintaining electronic warfare systems coupled with privacy and security concerns are expected to hamper the market growth. Moreover, growth in miniaturized and portable electronic warfare solutions and increase in demand from emerging economies offers remunerative opportunities for the expansion of the global cognitive electronic warfare system market.
Segment Highlights
On the basis of capability, the electronic intelligence segment dominated the market share owing to advancements in cognitive electronic warfare, which has resulted in an increase in the use of hardware such as radar systems, electronic jamming devices, and other cyber warfare capabilities. Electronic intelligence allows the detection of this threat and provides real-time awareness. Moreover, with the growth in unmanned aerial systems, there is a growing demand for detecting and tracking them, which is further driving the demand for the electronic intelligence segment.
By platform, the land segment dominated the market share, owing to its increased use in providing protection to the ground forces from jamming equipment, radar systems and improvised explosive devices. Likewise, land-based platforms also provide support to the ground military from aerial vehicles such as drones, UAVs, and others. Moreover, the land-based platform provides protection to critical ground equipment such as military bases, airfields, ground units, communication hubs, and power plants.
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Regional Outlook
The growing military spending globally is driving the market demand for cognitive electronic warfare system. Militaries around the world are spending a huge sum of money on modernizing military equipment and expanding their cyber and electronic warfare capabilities. The growing geopolitical tension between the U.S. and China, Russia and Ukraine, Korean peninsula, the South-China Sea and the and growing instability in the Middle East region has resulted in government bodies increasing their military spending. Furthermore, the advancement in UAV and drone technologies has created more demand for cognitive electronic warfare systems.
Players:
- Leonardo S.p.A.
- L3 Harris Technologies Inc.
- Northrop Grumman Corporation
- Israel Aerospace Industries
- BAE System
- Raytheon Technologies Corporation
- General Dynamics Corporation
- Cobham Advanced Electronics Solutions
- Elbit Systems
- SAAB AB
The report provides a detailed analysis of these key players in the global cognitive electronic warfare system market. These players have adopted different strategies such as new product launches, collaborations, expansion, joint ventures, agreements, and others to increase their market share and maintain dominant shares in different regions. The report is valuable in highlighting business performance, operating segments, product portfolio, and strategic moves of market players to showcase the competitive scenario.
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Recent Development:
- On March 11, 2024, Northrop Grumman Corporation announced it received a multi-year contract to produce initial units of the AN/APR-39E (V) 2 radar warning receivers for the U.S. Army. The new fully digital radar warning system has prompt bandwidth and frequency coverage to protect against the most advanced radar threats. Similarly, the new technology can be scaled up to different platforms, including current fleet and future platforms.
- On 2 April 2023, BAE Systems and the U.S. Air Force finished initial testing of a new electronic warfare countermeasures system designed for Boeing’s F-15EX fighter. The newly developed Eagle Passive Warning Survivability System, or EPAWSS, is an electronic warfare system that is critical for making the fourth-generation F-15EX more survivable against modern air defense systems.
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