Defense Electronics Market

Defense Electronics Companies - Lockheed Martin Corporation (US) and Northrop Grumman Corporation (US) are the Key Players

The Defense Electronics Market is projected to reach USD 213.2 Billion by 2028, from USD 166.7 Billion in 2023, at a CAGR of 5.1%. The global Defense electronics market has grown significantly in the past several years owing to increasing geopolitical disputes, terror attacks, and border issues. Technological developments in military systems and equipment have resulted in significant improvements in defense electronics systems. The use of integrated defense electronics products provides multiple advantages, such as real-time decision-making, remote operations, and reprogramming of systems for defense against new and emerging threats. Defense electronics products, including integrated electronic warfare systems, enable communication with multiple other military defense systems, resulting in better-coordinated operations.

Major Defense Electronics Companies Include:

  • Lockheed Martin Corporation (US)
  • Northrop Grumman Corporation (US)
  • Raytheon Technologies Corporation (US)
  • Thales Group (France)
  • and BAE Systems plc (UK)

Major manufacturers in this market are based in North America and Europe. Collaborations, product launches, contracts, and partnerships were the key growth strategies adopted by the leading market players from 2020 to 2023. Of these, the product launches and contracts strategies were the most widely adopted by the players to remain competitive in the market.

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Lockheed Martin Corporation.

Lockheed Martin Corporation specializes in the research, design, development, manufacturing, and integration of advanced technology systems and related products. The company operates through four segments, namely, aeronautics, missile and fire control, rotary and mission systems, and space. The aeronautics segment is engaged in research, design, development, manufacturing, integration, sustainment, support, and upgrade of advanced military aircraft, including combat and air mobility aircraft, unmanned air vehicles, and related technologies. The rotary and mission systems segment (RMS) provides design, manufacturing, service, and support for a variety of military and commercial helicopters; ship & submarine mission and combat systems; mission systems and sensors for rotary and fixed-wing aircraft; sea and land-based missile defense systems; radar systems; Littoral Combat Ship (LCS); simulation and training services; and unmanned systems and technologies. The RMS segment also supports the requirements of government customers in cybersecurity and delivers communications and command and control capabilities through complex mission solutions for defense applications.

Northrop Grumman Corporation

Northrop Grumman Corporation is a global aerospace & defense technology company that operates through four different business segments, namely, aeronautics systems, defense systems, mission systems, and space systems. The company offers electronic warfare products and solutions through its mission systems segment.

Raytheon Technologies Corporation

Raytheon Technologies Corporation (Raytheon) is a leading provider of products for defense, civil government, and cybersecurity applications. In 2018, it merged with United Technology Corporation (US), which operates via Collins Aerospace Systems, Pratt & Whitney, Otis, and Carrier. Raytheon offers advanced sensors and imaging technology, electronic warfare systems, as well as missile defense systems. It also offers radar for air and missile defense, airborne surveillance, air traffic control, and maritime surveillance, along with advanced technologies for space, which include a space tracking and surveillance system used to detect and track ballistic missiles.

Thales Group

Thales Group designs technological solutions and delivers services through business segments such as aerospace, transport, defense and security, digital identity and security, and others. The aerospace segment develops onboard systems, solutions, and services for commercial airlines and defense customers. The Transport segment develops ground transportation systems for civil customers. The defense and security segment offers secure communication & information systems, land & air systems, and defense mission systems for armed and security forces.

BAE Systems plc

BAE Systems plc is one of the world's leading aerospace, defense, and security companies. It develops, delivers, and supports aerospace & defense systems.

The company operates through five business segments: Electronic Systems, Cyber & Intelligence, Platforms & Services (US), Maritime, and Air. The Electronic Systems segment includes electronic warfare systems, electro-optical sensors, military and commercial digital engine and flight controls, precision guidance and seeker solutions, next-generation military communication systems and data links, persistent surveillance capabilities, and hybrid electric drive systems for end users based in US and UK. The cyber & intelligence segment encompasses cyber security, secure government, commercial, and financial security activities. The platforms & services (US) segment produces combat vehicles, weapons, and munitions, providing services and sustainment tasks such as ship repair and administration of government-owned munitions facilities.

Related Reports:

Defense Electronics Market by Vertical (Navigation, Communication, and Display (Avionics, Vetronics, Integrated Bridge Systems), C4ISR, Electronic Warfare, Radars, Optronics), Platform (Airborne, Marine, Land, Space) and Region - Global Forecast to 2028

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Defense Electronics Market Size,  Share & Growth Report
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AS 8623
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