Global electronic warfare market expected to grow steadily between 2016-2026
AMSTERDAM. The global market for electronic warfare (EW), valued at $14.4 billion in 2016, will grow at a compound annual growth rate (CAGR) of 3.13 percent to reach $19.6 billion by 2026, according to analysts from ASDReports. Cumulatively, the global market for electronic warfare is expected to reach $184.1 billion over the forecast period.
According to the report, "The Global Electronic Warfare Market 2016-2026," the market will likely be dominated by electronic protection systems, which will account for 50 percent of the market; followed by EW support, with a 32 percent share; and electronic-attack systems, with an 18 percent share. North America is forecast to dominate the sector, with a share of 41 percent of the purchases, followed by Asia-Pacific and Europe, with shares of 27 percent and 21 percent, respectively.
Driving demand for these systems: Rapid advancements in EW technology and mounting calls for intelligence, surveillance, and reconnaissance (ISR) capabilities by major militaries around the world to equip their airborne, ground-based, and naval platforms.