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(MoneyNewsWire.Net, February 20, 2018 ) The Global Intelligence Surveillance & Reconnaissance Market is expected to register USD 42.35 billion by 2023, registering a CAGR of 6.78%. The air-based platform segment is led by the increasing popularity of unmanned aerial vehicles and is expected to be one of the fastest growing markets until 2023. The space-based ISR is in the nascent stage, as most of the countries do not own satellite systems.
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The growth is expected to be led by the increase in demand for a number of airborne ISR systems, as strategic implementations by foreign affairs to fight terrorism, growing F-35, and Chinese fifth generation stealth combat aircraft threat. In addition, the development of an extension of unmanned vehicles to the manned aircrafts is another factor driving the market. The unmanned vehicles are being used for a variety of missions, such as reconnaissance & surveillance purposes, long duration missions where real-time data collection is vital, and cargo transportation.
Currently, the US Air Force flies MQ-9 reaper, MQ-1 predator, and RQ-4 global hawk drones remotely using USAF pilots, to navigate from a ground control station. The US Air Force started developing the C-17 cargo planes for unmanned missions, which allow the aircraft to reach high-risk forward locations with weapons, supplies and ammunition, thus driving the airborne reconnaissance market.
The military forces are required to operate in severe environments, where the spectrum is densely occupied and less governed affecting the ISR operations. The operations require the establishment of a single information environment (SIE), supported by a resilient mesh of related networks, while tackling the threat from enemy forces. However, owing to the growing demand, the need for governance and regulation is expected to be prominent.
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The market is segmented by:
• Platform: into land-based, air-based, sea-based, space-based
• Geography: Into North America, Asia-Pacific, Europe, South America and Middle East & Africa
Major Key Players:
ELBIT CORPORATION, HARRIS CORPORATION, GENERAL DYNAMICS, THALESRAYTHEON SYSTEMS, THE BOEING COMPANY, CACI INTERNATIONAL INC, BAE SYSTEMS amongst others.
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