The changing dynamics in Electronic Warfare Market with covid-19 impact assessment

The unexpected shifts in the global markets because of the sudden outbreak of the COVID-19 virus have brought many major and minor tremors to industries of all sizes including the Electronic Warfare Market.

It was estimated prior to this unanticipated outbreak that the Electronic Warfare Market was likely to witness an impressive CAGR of 5.2% during the forecast period. However, the gradual slowing down of industries will undoubtedly impose limits on the previously estimated growth rate. Defense modernization agendas and rising procurement of sophisticated electronic warfare systems are estimated to drive the global electronic warfare market.

Electronic Warfare Market Segment Insights:

By Capability Type:

The electronic support segment is expected to register the highest growth in the coming five years. This high growth rate is owing to the rising engagement of modern warfare techniques in the emerging economies in the Asia-Pacific and the Middle Eastern regions.

By Platform Type:

The space segment is estimated to remain dominant during the forecast period driven by the growing use of satellite-based electronic warfare equipment for various military applications.

By Product Type:

The electronic warfare equipment segment is anticipated to depict a higher growth due to the augmenting procurement of electronic warfare equipment in military ships and aircraft triggered by the merits such as advance electronic protection and electronic support applications.

By Region:

North American region accounted for the largest share of the market for electronic warfare in 2018. Factors such as territorial disputes, rising insurgencies, terrorism, unrest between neighboring countries, and political acrimonies in the region are also driving the EW market growth in this region. Europe and Asia-Pacific are also expected to offer substantial growth opportunities during the forecast period.