Report : Asia Pacific Electronic Warfare Market Forecast to 2028 - COVID-19 Impact and Regional Analysis By Component (Hardware, Software, and Services), Application (Electronic Attack, Electronic Protection, and Electronic Warfare Support), and Product Type (Countermeasure Systems, Jammers, Sensor Systems, Weapons Systems, and Others)
Sensor Systems Segment to Dominate APAC Electronic Warfare Market During 2021–2028
According to a new market research study on “APAC Electronic Warfare Market to 2028 – COVID-19 Impact and Regional Analysis and Forecast by Component, Application, and Product Type” is expected to reach US$ 8,311.52 million by 2028 from US$ 5,039.17 million in 2021. The market is estimated to grow at a CAGR of 7.4% from 2021 to 2028. The report provides trends prevailing in the APAC electronic warfare market along with the drivers and restraints pertaining to the market growth. Technological advancements in electronic warfare and deployment of sensors in space for improved electronic warfare capabilities are the major factor driving the growth of the APAC electronic warfare market. However, limited access to electronic warfare manufacturing facilities in developing countries hinders the growth of APAC electronic warfare market.
The APAC electronic warfare market is segmented based on component, application, product type, and country. Based on component, APAC electronic warfare market is segmented into hardware, software, and services. The hardware segment dominated the market in 2020 and software segment is expected to be fastest growing during forecast period. Based on application, APAC electronic warfare market is segmented into electronic attack, electronic protection, and electronic warfare support. The electronic warfare support segment dominated the market in 2020 and electronic attack segment is expected to be fastest growing during forecast period. Based on product type, APAC electronic warfare market is segmented into countermeasure systems, jammers, sensor systems, weapons systems, and others. The sensor systems segment dominated the market in 2020 and countermeasure systems segment is expected to be fastest growing during forecast period. Based on country, the APAC electronic warfare market has been segmented into China, India, Japan, South Korea, Australia, and rest of APAC.
BAE Systems; Cobham Limited; L3Harris Technologies, Inc.; Leonardo S.p.A.; Lockheed Martin Corporation; Northrop Grumman Corporation; Raytheon Technologies Corporation; Saab AB; Textron Inc.; and Thales Group are among the leading companies in the APAC electronic warfare market. The companies are focused on adopting organic growth strategies such as product launches and expansions to sustain their position in the dynamic market. For instance, in 2021, Leonardo has signed a five-year strategic partnership contract with the UK-based 2Excel Aviation relating to flight trials services, following the successful conclusion of a previous contract that ran from 2017-2021. That contract saw Leonardo working with 2Excel to test and demonstrate how its radar and electronic warfare systems perform in flight in support of development work and customer demonstrations.
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