According to the new research report published by The Insight Partners, titled “Electronic Warfare Market Forecast to 2028 – COVID-19 Impact and Global Analysis – by Component, Application, and Product Type,” the market is expected to grow from US$ 18,192.85 million in 2021 to US$ 27,797.72 million by 2028. It is estimated to grow at a CAGR of 6.2% from 2021 to 2028.

Armed forces and non-state groups employ unmanned aerial systems. Finding strategies to defeat the weaponized drones as their use spreads across the battlefield is a top issue. As a result of these advantages, countries including the US, India, and China plan to purchase and deploy additional UAVs in their military forces. Such initiatives by these governments are supporting the growth of the electronic warfare market.

Turkey is the world's second-biggest drone striker, after the US, and the world's largest manufacturer of unmanned aerial vehicles (UAVs). In November 2020, Aselsan, a Turkish defense company, created and manufactured KORAL, a land-based radar EW system. As the procurement of unmanned vehicles is increasing, it is also augmenting the growth of the electronic warfare systems market.

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According to SIPRI, South Africa and Saudi Arabia invested US$ 3.1 billion and US$ 57.5 billion, respectively, in efforts to strengthen their military forces in 2020. This is augmenting the growth of the electronic warfare market in the region.

Lockheed Martin is a leading company in the electronic warfare market. It focuses on accelerating the cash of its supply chain partners and small critical suppliers. In 2021, the company received US$ 1.1 billion from the US. The Department of Defense (DOD) and the company have flowed down to its suppliers, i.e., accelerated payments to supply chain partners. As a result, this has accelerated cash to risk suppliers and small businesses has positively impacted the growth of the electronic warfare market.

The key players operating in the market are Lockheed Martin Corporation, Raytheon Technologies, L3Harris Corporation, Northrop Grumman Corporation, and BAE Systems Plc. Several important market players were analyzed during this study to get a holistic view of the market and its ecosystem.

The electronic warfare market is analyzed on the basis of component, application, product type, and geography. Based on component, the market is segmented into hardware, software, and services. By application, the market is segmented into electronic attack, electronic protection, and electronic warfare support. Based on product type, the market is segmented into countermeasure systems, jammers, sensor systems, weapons systems, and others. Based on geography, the electronic warfare market is primarily segmented into North America, Europe, Asia Pacific (APAC), the Middle East & Africa (MEA), and South America

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