Global Defense Electronics Market Analysis Report 2023: A $289 Billion Market by 2028 with BAE Systems, Thales Group, Israel Aerospace Industries, Curtiss-Wright and Hensoldt Dominating

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May 09, 2023, 19:00 ET

DUBLIN, May 9, 2023 /PRNewswire/ -- The "Defense Electronics Market Size, Share & Industry Growth Analysis Report by Vertical (Navigation, Communication, and Display, C4ISR, Electronic Warfare, Radars, Optronics), Platform and Region - Global Growth Driver and Industry Forecast to 2028" report has been added to ResearchAndMarkets.com's offering.

The defense electronics market size is projected to grow from USD 220.3 billion in 2023 to USD 289.0 billion by 2028, at a CAGR of 5.6% during the forecast period.

The market for defense electronics is driven by various factors, such as the growing adoption of integrated defense electronic technologies and the development of new-generation air and missile defense systems. However, high investment in defense electronics in the early phases and high installation and upgradation costs of avionic products are limiting the overall growth of the market.

Navigation, Communication, and Display

The second largest share of the defense electronics market by vertical in 2023. The navigation, communication and display segment has the second largest segment of the defense electronics market by vertical in 2023. The increasing demand for avionics, integrated bridge systems and electronics due to the increase in military deliveries is driving the growth of this segment in the defense electronics market.

Land: The second largest segment of the defense electronics market by the platform in 2023

The airborne segment has the second-largest segment of the defense electronics market by the platform in 2023. Growing requirement for support systems for dismounted soldiers and increased use of unmanned ground vehicles by NATO troops and advanced militaries to boost the land segment.

Europe to account for the third largest CAGR in the defense electronics market in the forecasted year

Europe is estimated to account for the third largest CAGR in defense electronics in the forecasted year. The European region for this study comprises of Russia, the UK, France, Germany, Italy, and the Rest of Europe. Rising investments in defense equipment and technologies by several European-based companies and the rapid market expansion through advanced and upgrading programs are expected to drive this segment.

Competitive landscape

Prominent companies in the defense electronics market are BAE Systems plc (UK), Thales Group (France), Israel Aerospace Industries (Israel), Curtiss-Wright Corporation (US) and Hensoldt (Germany) among others.

Key Attributes:

Report Attribute	Details
No. of Pages	379
Forecast Period	2023 - 2028
Estimated Market Value (USD) in 2023	$220.3 Billion
Forecasted Market Value (USD) by 2028	$289 Billion
Compound Annual Growth Rate	5.6 %
Regions Covered	Global

Premium Insights

Increasing Geopolitical Disputes, Terror Attacks, and Border Disputes to Drive Market
C4Isr Segment to Contribute Highest Market Share in 2023
Marine Segment to Gain Highest Market Share from 2023 to 2028
Eo/Ir Payloads to Account for Significant Market Share During Forecast Period
North America to Lead Market in 2023

Market Dynamics

Drivers

Increasing Modernization of Defense Electronics Capabilities
Need for Enhanced Integrated Situational Awareness to Support Decision-Making
Strengthening of Joint Forces by Investing in Defense Electronic Systems
Growing Adoption of Integrated Defense Electronics Technologies

Restraints

High Investment in Defense Electronics in Early Phases
High Installation and Upgrade Cost of Avionic Products
Effect on Execution of Critical Defense Missions Due to Lack of Proper Communication Technology
Restraints Related to Technology Transfer

Opportunities

Growing Need for New Products for Electronic Warfare and C4Isr
Increasing Use of UAVs as Drone Jammers
Increasing Need for AI and IoT Devices in Military Operations
Development of New-Generation Air and Missile Defense Systems
Incorporation of Satellite-based Geospatial Analytical and Gis Tools

Challenges

Stringent Cross-Border Trading Policies
Supply Chain Issues Impacting Defense Electronics
High Cost of Deployment of Electronic Warfare Systems
Inability to Address Threats by Foe Systems
Increasing Cyberattacks on Trade Secrets and Defense-Related Data

Trends/Businesses Impacting Customers' Businesses

Revenue Shift and New Revenue Pockets for Defense Electronics Product Manufacturers

Technology Analysis

Development of Electronically Scanned Array (Aesa)
3D Printing
Hyperspectral and Multispectral Imaging
Enhanced Vision System (EVs)
Defense Electronics Market Ecosystem

Prominent Companies

Private and Small Enterprises
End-users

Case Studies

C5Isr
C6Isr
Eo/Ir Systems in Maritime Security and Surveillance
AI Provides Combatants with Cognitive Edge Over Opponents
Eo/Ir Camera for Isr in UAVs
Operational Data

Industry Trends

Technology Trends

5G Networking for Faster Data Transfer
Use of Smart Sensors for Military Applications
Cloud Computing
Internet of Things (IoT) in Military
Platform Telematics
Radar Technologies
Software-Defined Radars
3D and 4D Radars
Advanced Analytics (Data Processing and Analytics)
Advanced Materials
Silicon (Si)
Gallium Nitride (Gan)
Gallium Arsenide (GaaS)
Quantum Technologies in Defense Electronics
Modern Electronic Warfare Technologies
Directed Energy Weapons
Next-Generation Jammers (Ngj)
Adaptive Radar Countermeasure (Arc) Technology
Laser Communication
Hardware: New Weapons Technology
Integrated Platform Through Digital Twin Technology
Open Architecture C4 Systems
Cyber Warfare

Impact of Megatrends

Digitalization and Introduction of Internet of Things (IoT)
Shift in Global Economic Power
Coordinated Military Actions Leads to Cooperative Combat
AI and Cognitive Applications
Machine Learning
Deep Learning
Big Data

Innovation and Patent Registrations

Company Profiles

Key Players

Northrop Grumman Corporation
Lockheed Martin Corporation
Thales Group
Bae Systems PLC
Raytheon Technologies Corporation
General Dynamics Corporation
L3Harris Technologies, Inc.
Honeywell International Inc.
Rheinmetall AG
Saab Ab
Leonardo Spa
Israel Aerospace Industries (Iai)
Curtiss-Wright Corporation
Elbit Systems Ltd.
Safran SA
Cobham Limited
Hensoldt
Rafael Advanced Defense Systems Ltd.
Indra Sistemas, SA
Aselsan AS

Other Players

Radioelectronic Technologies Jsc
Sierra Nevada Corporation
Mag Aerospace
Tata Advanced Systems Limited
L&T Defence
Data Patterns (India) Ltd.
Mercury Systems, Inc.
Sami Advanced Electronics
Lig Nex1
Mistral Solutions Pvt. Ltd.

For more information about this report visit https://www.researchandmarkets.com/r/eisbx3

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