Global EW market to reach $15.6 billion by 2020, led by Latin America, Middle East and Asia-Pacific
DALLAS, 12 Jan. 2014. The global market for electronic warfare will reach $15.6 billion by 2020, with a combined annual growth rate (CAGR) of 4.5 percent, according to analysts at market researcher MarketsandMarkets in Dallas.
The global electronic warfare market is estimated to be $12.15 billion in 2014 and is expected to register a CAGR of 4.5 percent to reach $15.59 billion in 2020, according to the 231-page report from Markets and Markets entitled Electronic Warfare Market Forecast Analysis (2014- 2020).
The growth regions will be Latin America, Middle East and Asia-Pacific, analysts say. Brazil will be the leader in Latin America due to EW research, development, and implementation. In Asia and Middle-East the growth will be from the response to border disputes.
Though airborne and naval platforms have dominated electronic warfare in the past decade, land-based EW gaining importance, analysts say. There also is an increasing popularity of small electronic warfare systems that can be integrated with small platforms like unmanned aerial vehicles (UAVs) and patrol vessels.
The market will see considerable growth due to stealth aircraft and naval vessels. These platforms are hard to detect and track, so EW will play a crucial role in maintaining stealth and counter-stealth, analysts say.
Advancements in electronics enables today's electronic warfare (EW) systems to incorporate increasing amounts of digital capability and fast signal processors for better performance. The report covers the competitive scenario and geographic trends and opportunities in the U.S., Europe, China, Canada, Brazil, and Japan.
MarketsandMarkets is a global market research and consulting company. For more information contact MarketsandMarkets online at www.marketsandmarkets.com.