The global airborne ISR market is projected to witness a growth rate of 4.9% annually from 2023 to 2028, with an anticipated size of US$ 13.96 billion by 2028, according to an analysis by Stratview Research.
Stratview Research, a global market research firm has launched a report on the global airborne ISR market which provides a comprehensive outlook of the global and regional market, industry forecast, current & emerging trends, segment analysis, competitive landscape, & more.
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Report Highlights:
Market Size in 2028: US$ 13.96 billion
Growth (CAGR): 4.9% during 2023-2028
Forecast Period: 2023-2028
Trend Period: 2017-2021
Base Year: 2022
Number of Segments Covered: 5
Number of Tables & Graphs: 100+
Segment Insights on the Airborne ISR Market:
The global Airborne ISR market is segmented based on Solution type, Platform type, Application type, End-User type, and Region.
Based on solution type - The market is divided into systems, services, and software. The systems are expected to remain the largest market for airborne ISR in the forecast period. Due to the increasing demand for military spending in various emerging countries. Systems are further subdivided into Targeting and Surveillance Systems, Communication Systems, Reconnaissance and Intelligence Systems, and others.
Based on platform type - The market is bifurcated into military aircraft, military helicopters, and unmanned systems. Military aircraft are further segmented into fighter aircraft, transport aircraft, trainer aircraft, and special mission aircraft. Unmanned Systems are segmented into Small UAVs, Tactical UAVs, Strategic UAVs, Special Purpose UAVs, and Aerostats.
The military aircraft segment occupied a significant amount of share in 2022 & is expected to grow at the highest CAGR during the forecast period. Fighter aircraft use various ISR systems like radars to navigate, acquire targets, and engage them, and transport aircraft are being fitted with modern ISR systems to enhance situational awareness.
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Which Region Shows the Most Promising Growth Forecast and Opportunity?
North America is likely to maintain its supremacy in the market throughout the forecast period. Rapid modernization and technological advancements in various sectors have resulted in a high rate of airborne ISR systems.
Moreover, rising demand for UAVs for airborne ISR applications, growing procurement of airborne ISR systems due to growing global and regional instability, increasing need for missile detection systems, and increasing preference for modern warfare techniques are some of the major factors for market growth.
Concurrently, Asia Pacific is expected to witness the fastest growth in the market during the forecast period. This Asia-Pacific region's growth can be attributed to the increasing investments by China, India, and Japan in the defense industry. Globally, China's defense budget stands second after the US.
Airborne ISR Market Drivers:
Some of the key drivers listed in the report are given below.
• Due to the increasing significance of airborne ISR services, the market is developing.
• The growing demand for unmanned aerial vehicles (UAVs) is a major driver for the market.
• In the defense sector, manned ISR airplanes are no longer popular.
• Unmanned aerial vehicles are also the current trend in the market.
• Machines, autopilots, ISR platforms, and detectors/sensors are all included in the UAVs.
• UAVs have become necessary tools for ISR operations, and they're in high demand worldwide because they offer low-cost options to countries seeking aerial means for ISR and other tasks.
• Surveillance and imagery data delivery is made easier by installing aerial ISR systems on unmanned platforms.
• Unmanned systems integrated with communication antennae help with a variety of vital operations.
Top Companies in the Airborne ISR Market:
Stratview Research has identified the following companies as the top market players.
• Thales (France)
• Boeing (US)
• UTC Aerospace Systems (US)
• BAE Systems (UK)
• Northrop Grumman (US)
• General Dynamics (US)
• Elbit Systems Ltd (Israel)
• FLIR Systems Inc (US)
• Raytheon (US)
• Honeywell International (US)
• Lockheed Martin (US)
Note: The above list does not necessarily include all the top players in the market.
What Unique Insights Does This Report Offer?
This report provides comprehensive insights into the Airborne ISR Market, answering critical questions like:
• How big is the sales opportunity?
• Which regions offer the best sales opportunities?
• Which are the most attractive market segments?
• Which are the top players and their market positioning?
• How complex is the business environment?
• What are the factors affecting the market?
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Stratview Research is a global market research firm that highly specializes in aerospace & defense, chemicals, and a few other industries.
It launches a limited number of reports annually on the above-mentioned specializations. Thorough analysis and accurate forecasts in this report enable the readers to take convincing business decisions.
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