DUBLIN–(BUSINESS WIRE)–The “Airborne ISR Global Market Report 2022” report has been added to ResearchAndMarkets.com’s offering.
This report provides strategists, marketers and senior management with the critical information they need to assess the global airborne ISR market.
The global airborne ISR market is expected to grow from $24.06 billion in 2021 to $25.66 billion in 2022 at a compound annual growth rate (CAGR) of 6.64%. The airborne ISR market is expected to grow to $31.90 billion in 2026 at a compound annual growth rate (CAGR) of 5.60%.
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Major players in the airborne ISR market are Raytheon Technologies Corporation, Lockheed Martin, BAE Systems, Northrop Grumman, L3Harris Technologies, Inc., Thales Group, Elbit Systems Ltd, General Dynamics, FLIR Systems Inc., Airbus, General Atomics, CACI International Inc., UTC Aerospace Systems, PAL Aerospace, and ALTUS LSA.
The airborne ISR market consists of the sales of airborne ISR by entities (organizations, sole traders, and partnerships) that refers to hardware and software systems used to gather accurate and timely information on enemy forces through advanced technologies and real-time intelligence to secure potential threats.
The purpose of airborne ISR is to collect information about the enemy by observing their behaviour and tracking their movements. The efficient use of ISR data could provide advanced warning of enemy threats allowing military forces to improve their effectiveness and coordination.
The main types of airborne ISR solutions include systems, software, and services. The airborne ISR system refers to airborne ISR hardware systems integrated into military and civil aircraft for on-board and off-board collection and targeting data into customized airborne mission systems.
They are deployed on military aircraft, military helicopters, and unmanned systems. They are used on defense and homeland security customers for search and rescue operations, border & maritime patrol, target acquisition and tracking, critical infrastructure protection, and tactical support.
North America was the largest region in the airborne ISR market in 2021. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the airborne ISR market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The growing threats of a terror attack are expected to propel the demand for the airborne ISR market. Terrorist attacks refer to violence created by a group of individuals to create a climate of fear among the population and thereby promote a political objective.
An increase in terror attacks across the globe is expected to boost demand for airborne ISR since the government and multiple security agencies are extensively investing in technologically advanced systems to predict and eradicate possible terrorist attacks and thereby promoting peace and harmony.
For Instance, In April 2021, in a report published by the Center for Strategic and International Studies, the percentage of all terrorist incidents involving active-duty and reserve personnel increased to 6.4% in 2020, up from 1.5% in 2019. Therefore the rising threats of a terror attack are expected to boost demand for airborne ISR systems and software during the forecast period.
Rapid technological advancement is a key trend gaining popularity in the airborne ISR market. Major companies operating in the airborne ISR market are focused on providing technologically-advanced solutions to meet fast-growing end-user demand and strengthen their market position across the globe.
These companies are implementing next-generation airborne ISR systems and software technologies into their services, such as artificial intelligence, big data analytics, robotics, satellite systems, evidence reporting, geothermal reporting, quantum technology, and others to collect information related to the enemy’s strength, movements, and activity.
For instance, In June 2021, CarteNav Solutions, Canada-based situational solutions company, developed AIMS-ISR mission system software that offers multi-sensor controls, geo-referenced moving maps, evidence reporting, SIGINT, custom mapping, and additional mission optimization solutions to reduce human error.
The countries covered in the airborne ISR market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, and USA.
For more information about this report visit https://www.researchandmarkets.com/r/iivwkk
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