Overview: Airborne ISR Market
The airborne ISR finds significant application in determining intruder’s strength, movements and activities. This ISR system get controlled by secret intelligence services. This particular technological advancement provides real-time situational awareness and response. Air defense system, command centers, and others are gaining much profit from this market. The airborne ISR market is all set to rise by 4.10% during the forecast period (2017-2023). Market Research Future (MRFR) in their report claimed that the CAGR this market is about to garner can help the airborne ISR market cross the expected valuation of USD 27,786.6 million by 20023.
The airborne ISR market is witnessing a rise in demand in sync with burgeoning UAV industry. At the same time, the rising security threats across the globe is spurring the demand for inclusion of sophisticated ISR systems which is also providing much traction to the global market. Launch of wireless sensors and a shift towards en route command & control are expected to provide further thrust to the global airborne ISR market.
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Competitive Landscape: Airborne ISR Market
Influential companies are getting engaged in the airborne ISR market by developing new strategies. The intent is not just to take individual lead but, also, to expand scopes for the market to perform well and grow. These companies are, as listed by MRFR, Lockheed Martin (US), BAE Systems (UK), UTC Aerospace Systems (US), Elbit Systems Ltd (Israel), Northrop Grumman (US), Raytheon (US), General Dynamics (US), FLIR Systems Inc (US), Thales (France), and Boeing (US). The report also contains the latest developments made by these companies to ease the process of a better predictive analysis.
Segmentation: Airborne ISR Market
The global airborne ISR market has been segmented by MRFR based on system and purpose. This market has data backed by volume-wise and value-wise analysis.
Based on the system, the global airborne ISR market can be segmented into AEWC (Airborne Early Warning and Control), electronic warfare, sensors, and maritime petrol. The sensors and electronic warfare had coverage over 35.8% and 25.4% of the entire market in 2016. However, the sensor segment is expected to score the highest CAGR by recording 4.42% growth during the forecast period.
Based on the purpose, the global airborne ISR market can be segmented into surveillance, reconnaissance and intelligence. The surveillance and reconnaissance segment encompassed 40.3% and 31.3% of the global market in 2016 respectively. However, the surveillance segment records the fastest growth by clocking 4.25% CAGR over the forecast period.
Regional Analysis: Airborne ISR Market
North America, Europe, Asia Pacific (APAC), Middle East & Africa (MEA), and South America are the five regions in which the global airborne ISR market has been segmented by MRFR for a better unravelling of the demographic challenges.
North America’s huge expenditure in defense and commercial aircrafts for smooth workflow can be accredited for its immense growth. The region is further getting traction from high investment that is taking place in budgets for defense. It is expected to maintain the growth curve during the forecast period owing to several factors such as presence of market leaders, easy integration of latest technologies, and others. Europe and the APAC region are also bolstering their growth by having significant initiatives. The global market is witnessing several other factors dominating the market profoundly. Such as the growing demand of UAV, multi-role UAV remote sensors, investments on ISR payloads, and others. In the APAC and in the MEA, territorial tensions have emerged as significant factors to inspire the integration of airborne ISR market.
In January 2019, BIRD Aerosystems and HENSOLDT announced that they are ready for collaboration. This agreement includes the integration of HENSOLDT’s PrecISR with BIRD’s RCD (Radar Control and Display) system. HENSOLDT’s product PrecISR is a multi-mission surveillance radars, comprises of the newest generation gallium nitride AESA antenna technology. It can e-scan capability and it comes with large bandwidth multi-channel radar.
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