— Global airborne ISR market to grow at CAGR at over 3 percent through to 2023
BOSTON, Oct. 15, 2014 /PRNewswire/ — Amid a challenging budgetary environment, global militaries are faced with the challenge of reducing costs while maintaining and even enhancing defense capability in critical areas such as airborne ISR (intelligence, surveillance and reconnaissance). The Strategy Analytics Advanced Defense Systems (ADS) service series of reports, forecast that the global airborne ISR market will grow at a CAGR (compound annual growth rate) of 3.2 percent to approach $28 billion in 2023.
- The AEW&C (Airborne Early Warning and Control) segment is forecast to have the fastest growth in spending, largely driven by anticipated new spending by emerging countries as well as some renewed market demand from a few mature market countries.
- Airborne ISR platforms dedicated to electronic warfare (EW) missions spending will center on advanced countries including the USA, as well as China, Russia and India.
- Demand for maritime patrol aircraft will come from countries with large maritime boundaries.
- Growth in the airborne ground surveillance and reconnaissance (S&R) market will be driven by emerging markets with procurements of both manned and unmanned systems, as well as a continued focus on using unmanned surveillance systems in the West.
The Global Airborne ISR and AEW&C Market Forecast 2013-2023, Global AEW&C Market Outlook and Platform Overview: 2013-2023, and Global Airborne ISR and AEW&C Market and Technology Outlook: 2013-2023 studies discuss the airborne ISR market providing a breakdown by regional demand and the different segments encompassed by airborne ISR. A closer examination of the AEW&C segment looks at technology trends for radar, EW, communications and other systems, as well as outlining operators and platforms of these assets.
"Airborne ISR assets will be critical to countering both asymmetric and conventional warfare threat environments as global militaries adjust to the shifting battle-space paradigms of net-centricity, cyber-warfare and electronic warfare," noted Asif Anwar, Director of the ADS service. "This will include the use of unmanned platforms to both complement and in some cases substitute manned platforms, while the need to balance affordability will see military customers look towards platforms that can embody multiple mission capabilities and offer flexibility, agility, efficiency and interoperability."
Strategy Analytics will be summarizing these findings in the forthcoming webinar, Airborne ISR Market Rising Despite Global Budgetary Trends
Click here to register: https://www.strategyanalytics.com/default.aspx?mod=EventDetails&a0=924307&s=3
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