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

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:

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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