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Defense Electronics Market - Industry Dynamics, Market Size, And Opportunity Forecast To 2031

Global Defense Electronics Market: By Component (Hardware, Software, Services); Equipment Type (C4ISR Systems, Weapon Systems, Electro-Optical and Infrared (EO/IR) Systems, Military Simulators, Radar Systems, Sonar Systems, Avionics, Electronic Warfare, Others); Usage (Land, Air, Naval, Space); Application (Acoustics, Avionics, C2/BM, Communication, Optronics, Radar, EW, Others) and By Region - Market Size, Industry Dynamics, Opportunity Analysis and Forecast for 2023-2031

  • Published Date: 17-Apr-2023  |   Format: pdfpowerpointexcel  |  Report ID: AA0423432
    Delivery: 2 to 4 Hours
INFOGRAPHIC:
Defense Electronics Market

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REPORT SCOPE

Report AttributeDetails
Market Size Value in 2022US$ 138.15 Billion
Expected Revenue in 2031US$ 231.30 Billion
Historic Data2018-2021
Base Year2022
Forecast Period2023-2031
UnitValue (USD Bn)
CAGR6.07%
Segments coveredBy Component, By Equipment Type, By Usage, By Application, By Region
Key Companies                                                                                 BAE Systems plc, Bharat Electronics Limited, Boeing, General Dynamics, Hensoldt AG, Honeywell International Inc., Indra Sistemas SA, L3Harris Technologies Inc, Leonardo S.p.A., Lockheed Martin, Northrop Grumman Corporation, Raytheon, Thales Group, Other Prominent Players
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FREQUENTLY ASKED QUESTIONS

The global defense electronics market has been estimated to be from USD 138.2 billion in 2022 to USD 231.3 billion by 2031, at a CAGR of 6.7% during the forecast period.

Complex part, high cost and counterfeit products related to defence electronics are obstructing the market growth in future.

There has been a global trend of rising military expenditure and geopolitical tension responsible for the market expansion.

Hardware, software, and services make up the component sectors of defense electronics market. The hardware segment dominated the market in 2022 holding more than half of the market share alone. 

In terms of equipment type, C4ISR Systems has been expected to grow with the highest CAGR of 6.62% during the forecast year.

The market growth in the North American region is anticipated to be driven by increasing investments in research and development, the growing adoption of advanced technologies such as AI and unmanned systems, and the rising demand for electronic warfare systems.

Based on application, the avionics segment is holding the maximum share in the base year 2022. As modern aircraft become more complex and sophisticated, the demand for advanced avionics systems has grown. These systems require high-performance electronics that can withstand extreme conditions, such as high altitudes, rapid acceleration, and extreme temperatures.

Increasing supportive government policies on the nation's security and adoption of modern active electronically scanned array radars are some of the factors driving the market in future.

Air sub-segment of the usage segment acquired the maximum share of the market in 2022.

Key players in the defense electronics market include competitors such as BAE System Plc, Bharat Electronics Limited, Boeing, General Dynamics, Hensoldt AG, Honeywell International Inc., Indra Sistemas SA, L3Harris Technologies Inc, Leonardo S.p.A., Lockheed Martin, Northrop Grumman Corporation, and Raytheon among others.

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