“Airborne ISR market valued at USD 30.6 billion in 2019” says new Visiongain report
01 October 2019
Visiongain has published a new defence report entitled, Military Airborne Intelligence, Surveillance & Reconnaissance (ISR) Technologies Market 2019-2029.
The Airborne ISR market is estimated to witness a Compound Annual Growth Rate (CAGR) of 7.71 per cent from 2019 to 2029.
The growth of commercial satellite imagery constellations is having a profound, driving effect on the Airborne ISR market, as are significant improvements to ISR payloads on Unmanned Aerial Vehicles.
Visiongain anticipates that global investment and consolidation will be robust over the next 10 years. For example, in 2018, the United States Air Force unveiled a new ISR Dominance Flight Plan for maintaining and enhancing a competitive advantage amid today’s ever-changing digital realm.
Leading companies such as Airbus, Boeing, Lockheed Martin, Northrop Grumman and Raytheon, among others, are active in this multi-billion-dollar industry.
The senior defence analyst said: "The Global Military Airborne ISR Technologies market is expected to generate sales of USD 30.61 billion in 2019.
"Airborne ISR platforms serve a vitally important function during times of war and peace. They were first used during the French Revolution when hot air balloons were released into the air to detect enemy positions. Today, instead of using observation balloons to conduct ISR, air forces around the world opt for manned and unmanned aircraft, as well as sophisticated networks of people and technology, to collect, process and disseminate information.
"Intelligence, surveillance and reconnaissance investments have increased significantly since the turn of the millennium, especially in Western states. Rapid advances in sensor and communication satellites and improvements to ISR payload technologies on large drones will most likely drive the market forward over the next decade.
"Indeed, by 2029, visiongain expects the Airborne ISR market to surpass the fifty-billion-dollar mark, achieving a total sales figure of USD 64.3 billion.
"Having said this, there are one or two threats to the future success of ISR technologies, which could slightly restrain the acceleration of the market. The most challenging issues are air force cultures that prioritise investment into bombers and fighters and a common fear that ISR platforms are becoming increasingly vulnerable to air defence systems."
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