The electronic warfare (EW) market has seen a resurgence in the last several years as major players in the global defense market-such as China, Russia, and the US-increase investments in this domain due to a renewed focus on great-power competition and high intensity conflicts. Demand for more multi-functional and cost-effective EW products has increased noticeably since 2017, with the Russian invasion of Ukraine and the subsequent illustration of EW’s relevance on the modern battlefield only further incentivizing global investment in this previously niche capability set. The use of EW capabilities by Russian forces in particular has generated significant consternation among Western military officials as the comparative lack of investment and innovation has enabled the Russian state to gain a strategic advantage over its geopolitical rivals. Furthermore, the application of EW capabilities within the scope of ‘hybrid-warfare’ activities has highlighted the risks to both military and civilian infrastructure, creating an imperative for investment in EW as a matter of national security.
The evolution of digitized battlefield technologies such as tactical communications, command-and-control networks, and unmanned platforms has created new challenges and opportunities for EW technology, with the development of novel applications like EW-based Counter-UAS systems or the introduction of advanced EW systems into the space domain providing the impetus for innovation as military forces seek to achieve technological overmatch within the electromagnetic spectrum (EMS). This has driven growth and diversification within the global EW supply chain as both established defense primes and emergent specialist firms look to secure market share over the coming decade.
The global electronic warfare (EW) market has seen a notable spike in growth since 2023 and is currently valued at $16.1 billion in 2024. Following the outbreak of the conflict in Ukraine, the total value of the global EW market jumped from $9 billion in 2022 up to $13.9 billion in 2023 according to GlobalData’s historical and current forecasts. While part of this growth can be attributed to the addition of the Space EW segment data, the majority of investments were directed within the Airborne EW and Naval EW segments which saw growth of 64% and 35% respectively between 2022-2023. The value of the EW market is forecasted to grow at a CAGR of 4.6% up to a total market size of $21.8 billion by 2033.
Key Highlights
Studies of emerging technological trends and their broader impact on the defense market.
Analysis of the various electronic warfare systems, programs and projects currently under development, as well as the impact of emerging technologies such as artificial intelligence, counter-UAS systems and directed energy weapons systems on the future outlook of the electronic warfare theme.
Who Should Buy
Our thematic research product, supported by our thematic engine, is aimed at senior (C-Suite) executives in the corporate world, decision makers, and institutional investors.
Corporations: Helps CEOs, CTOs, and other senior executives of companies understand this key theme, the competitive environment, and the market opportunities.
Investors: Helps fund managers and other major investors focus on investment opportunities in defense and understand the electronic warfare market.
Scope
The key defense challenges that forces and defense sector suppliers face are covered.
The investment opportunities for armed forces, suppliers, and institutional investors, across the whole electronic warfare value chain are covered.
Highlights from the range different electronic warfare related research and development programs currently being undertaken by various military organizations and defense companies.
Reasons to Buy
Determine potential investment companies based on trend analysis and market projections.
Gaining an understanding of the market challenges and opportunities surrounding the electronic warfare theme.
Understanding how spending on electronic warfare and related segments will fit into the overall market and which spending areas are being prioritized.
Executive Summary
Players
Thematic Briefing
Electronic warfare – understanding the spectrum
The evolution of EW in 21st-century conflicts
EW in low-intensity conflicts – minimized risk, minimized investment
EW in high intensity conflicts – Russian doctrine on Ukrainian battlefields
Western military efforts to revitalize EW
Trends
Technology trends
Macroeconomic trends
Regulatory trends
Industry Analysis
Market size and growth forecasts
The United States will remain the largest investor in EW markets
Case Studies
China
Russia
The United States
Timeline
Signals
M&A trends
Venture financing trends
Patent trends
Hiring trends
Value Chain
Electronic attack
Electronic protection
Electronic warfare support
Companies
Leading companies
Disruptor companies
Sector Scorecards
Aerospace, defense & security sector scorecard
Who’s who
Thematic screen
Valuation screen
Risk screen
Glossary
Further Reading
GlobalData reports
Our Thematic Research Methodology
About GlobalData
Contact Us
List of Tables
Table 1: Technology trends
Table 2: Macroeconomic trends
Table 3: Regulatory trends
Table 4: Key M&A transactions associated with the electronic warfare theme in the last few years between 2021 and 2023
Table 5: Key venture financing deals associated with the electronic warfare theme in the last three years
Table 6: Leading companies
Table 7: Disruptor companies
Table 8: Glossary
Table 9: GlobalData reports
List of Figures
Figure 1: Who are the leading players in the electronic warfare theme, and where do they sit in the value chain?
Figure 2: Visualization diagram of the electromagnetic spectrum and its distinctive bands.
Figure 3: Electronic warfare in the networked battlespace
Figure 4: Global electronic warfare market, 2021-2033
Figure 5: Global EW spending by country, 2021-2033