MarketsandMarkets Projects $24B Market Value for Electronic Warfare Systems by 2020

ElectronicWarfareMarketsandMarkets has projected the global electronic warfare market will expand from $17.7 billion in 2014 at a 5.37 compound annual growth rate to reach $24.3 billion by 2020.

The research firm said Friday modern EW systems are built with digital and signal processing technology and that smaller EW platforms for unmanned aerial vehicles and patrol vessels have become much more in demand.

Industry growth will be partly driven by demand for stealth aircraft and naval ships, the report states.

MarketsandMarkets also forecasts Brazil will lead EW investment in Latin America through 2020 due to the country’s research and development programs in that technology area.

Border disputes are projected to trigger spending on EW systems across the Middle East and Asia Pacific over the next five years.

Key market players include ATK, BAE Systems, General Dynamics, L-3 Communications, Raytheon, Rockwell Collins, Thales, Teledyne Defense and SaaB.

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