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Airborne ISR Market : Growth Analysis & Projections Forecast to 2021

Airborne ISR Market : Growth Analysis & Projections Forecast

Market Highlights:

With the increase in the global arms trade, the potent warfare capabilities of a number of countries have increased, invariably. Some countries, including India, Turkey and South Africa, will boost their capabilities to indigenously develop and procure advanced airborne ISR systems for enhanced offensive and defensive applications. ISR systems, networked communications systems and secure communications products, are critical elements for the command, control, communication, and intelligence gathering systems. These products and services connect a variety of airborne, which are used in the transmission, processing, recording, and monitoring functions of such systems. They provide the war fighters with the data from command centers, communication nodes and air defense systems, for real-time situational awareness and response.

The market has seen a substantial growth over the past few years and it has been experienced that the market will remain on the same growth level till forecast period. Among the regions covered, North America has accounted the largest market for airborne ISR market followed by Europe and Asia Pacific. Major factors that have driven the airborne ISR market are growing demand of UAV, investments on ISR payloads, multi-role UAV remote sensors and others. On the other side, factor that are hindering the market are Complexity of data sets, Defense budget cuts, Issues associated with maritime surveillance radar and others. Despite this factors, the airborne ISR market is expected to show a good market figure owing to introduction of stealth ISR aircraft, introduction of wireless sensors, shift towards en route command and control and other.

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Major Key Players

The major players operating in global airborne ISR market, who have adopted the strategies such as geographic expansion, mergers, and acquisitions are BAE Systems (UK), Lockheed Martin (US), Northrop Grumman (US), UTC Aerospace Systems (US), General Dynamics (US), Raytheon (US), Thales (France), FLIR Systems Inc (US), Elbit Systems Ltd (Israel) and Boeing (US).
As per MRFR analysis, the global Airborne ISR Market was valued at USD 21,114.3 million in 2016, which is expected to reach USD 27,786.6 million by 2023 with a CAGR 4.10% during the forecast period 2017-2023.

Industry/ Innovation/ Related News:

September 25, 2015:- Northrop Grumman along with University of Maryland launched advanced cyber security experience for students. It includes four year honours college program that provides student experience in cyber security.
June 23, 2015:- BAE systems Launched Cloud-Based Cyber Security designed to defend against targeted attacks in Canada.
June 17, 2015:- L-3 Communications Security and Detection Systems announced new Clear Scan next generation cabin baggage explosive detection system
January 5, 2015:- BAE systems launched a Corporate Security Analysis service to guide companies through social risk monitoring and regional security analysis.

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Regional Analysis
China, Japan, India, and South Korea, the three major technological hubs of the Asia Pacific region, have increased their military expenses significantly, and have procured a number of advanced airborne ISR systems. The other countries of the region, such as India, Australia, and Singapore are not lagging behind, as they have increased their military exports, over the years.

In the recent years, the Asian countries have been prone to extremaist and insurgent threats as well as territorial disputes. There have been a high number conflicts in the India-Pakistan border, India-China border along the Himalayas, the Indian Ocean, and the South China Sea. It has resulted in the deployment of large battalions of troops to such regions, in order to counter the rise in cross-border activities. Some countries in the region such as Australia, China, India, Japan, and South Korea have supported their armed troops with the deployment of airborne ISR systems, which would boost the soldiers' combat capabilities, efficiencies, and accuracy.

About Market Research Future:
At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research & Consulting Services.
MRFR team have supreme objective to provide the optimum quality market research and intelligence services to our clients. Our market research studies by products, services, technologies, applications, end users, and market players for global, regional, and country level market segments, enable our clients to see more, know more, and do more, which help to answer all their most important questions.

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