Electronic Warfare Market Analysis, Market Size, Application Analysis, Regional Outlook, Competitive Strategies And Forecasts, 2014 To 2020
Developments across the electromagnetic spectrum are expected to give impetus to the global electronic warfare market. Widespread use of weapon systems along with electronics and associated equipment has fostered electronic warfare system development. Increasing incidents of territorial disputes, cold-wars and political conflicts are expected to fuel market growth.Advancements in the field of electronics and surging demand for infrared, optic and visual techniques such as laser is expected to spur the electronic warfare market over the forecast period
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Electronic warfare has evolved as an integral entity of strategic landscape encompassing all war fighters. Increasing popularity of platforms such as unmanned aerial vehicles (UAVs) and patrol vessels owing to their ability to integrate small electronic systems is also expected to drive market growth. Owing to the difficulty involved in tracking or detecting the aforementioned platforms adoption of electronic warfare systems is expected to become even more crucial.
However, economic concerns in regions such as China, India etc may hamper market growth. Further, decreasing defense budget in Europe as well as the U.S. may pose a challenge to market growth over the next few years. The ability to reduce time lags and the need to design efficient systems offer several market growth opportunities. The electronic warfare market is highly fragmented. Several market players emphasize on mergers, acquisitions and joint ventures as a part of their key growth strategy. Key companies in the market include Raytheon Co.,Lockheed Martin Corporation, L-3 Communications Holdings Inc., Alliant Techsystems and BAE Systems
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