Market Synopsis
As per the study conducted by Market Research Future Reports (MRFR), The global COVID-19 Pandemic Impact on Airborne ISR Market is estimated to acquire a market value of USD 27,786.6 million, growing with a CAGR of 4.10% by the end of 2023. The UAV is witnessing a major rise in the demand, which is estimated to drive the global airborne ISR market 2020. Lately, there has been a rise in increased implementation of UAVs for the purpose of electronic attack (EA), suppression of defense (SEAD), communication, combat search and rescue (CSAR), and the ISR operations. UAVs have an extensive application in current warfare situation due to the superior visual feature, and the ability to perform surveillance on a particular location. Owing to its superior attributes, various countries are enhancing their R&D investments to increase the ISR airborne capabilities. Further, the growing adoption of electronic warfare is estimated to drive the requirement for a better ISD equipment aboard UAVs, propelling the growth of the unmanned sector of the airborne ISR market. In addition, rapid burgeoning technical development is developing disruptive technologies in the defense sector.
Further, the developed data integration with an analysis to offer acute data and management is estimated to prepare a conducive environment for market expansion. Moreover, the increased threats due to terrorism, political clashes, communal clashes have resulted in an increased focus on strengthening the warfare system, leading to a further rise in the global market.
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However, the complicated data sets, concerns related to maritime surveillance radar, and defense cut budgets are estimated to hinder the global airborne ISR market significantly.
Key Players
The established players of the Global COVID-19 Pandemic Impact on Airborne ISR Market are Lockheed Martin (US), BAE Systems (UK), Northrop Grumman (US), General Dynamics (US), UTC Aerospace Systems (US), Raytheon (US), FLIR Systems Inc (US), Thales (France), Elbit Systems Ltd (Israel), Boeing (US) and a few more.
Market Segmentation
Global COVID-19 Pandemic Impact on Airborne ISR Market can be segmented based on purpose, system, and region. Based on purpose, the global ISR market can be classified into reconnaissance, intelligence, and surveillance.
Based on system, the global COVID-19 Pandemic Impact on Airborne ISR Market can be classified into sensors, AEWC (Airborne Early Warning and Control), electronic warfare, and maritime petrol
Based on region, the global ISR market can be classified into North America, Europe, Asia Pacific, Middle East & Africa, and South America.
Regional Analysis
Based on geography, the global COVID-19 Pandemic Impact on Airborne ISR Market can be classified into Europe, North America, Asia-Pacific, and MEA. As per the study, the global market is projected to be dominated by North America by acquiring the largest market share. The second and third position has been attained by Europe and APAC, respectively. The region is progressing due to the increased investments in ISR payloads, and a hefty budget for the defense sector. The developing region like the APAC is estimated to be the most lucrative market owing to the presence of fastest developing economies such as India, and China. India’s renowned defense body, DRDO, has taken the initiative to develop new UAVs, such as AURA, Nishant, and Rustom, and thereby expanding the regional market. Further, China has been taking major steps to strengthen the defense sector, which directly impacts the APAC market.
Further, the emerging economies are also making the usage of UAVs in humanitarian work as well. The purpose can be met at a way cheaper cost than using helicopters and satellites; therefore, it is gaining momentum in the developing countries.
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