Leading nations are opting for ISR technology for securing their borders which thus leads to further driving the Global Intelligence Surveillance and Reconnaissance Market
Covid-19 Impact & Market Status
The recent COVID-19 outbreak started in Wuhan (China) in December 2019 and has rapidly spread around the world since then. As of March 2020, China, Italy, Iran, Spain, the Republic of Korea, France, Germany, and the United States were among the countries with the highest number of positive cases and reported deaths. Due to lockdowns, travel bans, and company closures, the COVID-19 epidemic has impacted economies and businesses in a number of countries. As a result of the outbreak, the global food and beverage industry is one of the major businesses experiencing substantial disruptions such as supply chain disruptions, technology event cancellations, and office closures. With the presence of and the largest raw material suppliers, China is the global industrial powerhouse. The overall market breakdown due to COVID-19 is also affecting the growth of the bacon market due to shutting down of factories, obstacle in supply chain, and downturn in world economy.
This research report offers a detailed market outlook of the global intelligence surveillance and reconnaissance market depending upon the current economic situation and developments in the application, type, and regional segments.
It does a deep analysis of the impact of covid-19 on the market and recovery strategies applied by market players to restore the growth trends and maintain market competitiveness. The in-depth insights documented in the report enable well-informed investment decisions by for the new payers, aspirants, and also the well-established ones in the global intelligence surveillance and reconnaissance market.
Air Platform Intelligence Surveillance and Reconnaissance to Emerge as the Most Lucrative Segment
Global intelligence surveillance and reconnaissance market is classified into Land, Air, Sea, Space platform segment. Among these, the air platform intelligence surveillance and reconnaissance is poised for substantial market growth in the years ahead owing to several advantages like air segment, driven by the growing popularity of unmanned aerial vehicles (UAVs) and communication systems, is predicted to be one of the fastest-growing categories until 2024, accounting for nearly one-third of the market. The space segment is expected to draw a lot of attention and is likely to be the most researched in this industry. The market is currently moving toward consolidation and integration of ISR systems across all platforms, as evidenced by several new initiatives, which could result in increased efficiency and performance. Due to the growing need for air superiority, comprehensive situational awareness, and survivability, demand for airborne C3, electronic support/countermeasures (ESM/ECM), and surveillance/maritime patrol aircraft is predicted to continuously expand in the air segment.
Backed by Immense Development Potential Asia Pacific Intelligence Surveillance and Reconnaissance Market to Sail Ahead
Performance analysis of global intelligence surveillance and reconnaissance market based on regional segmentation states that Asia Pacific is the most mature market for intelligence surveillance and reconnaissance adoption and investments. The region is likely to garner maximum revenue share of global intelligence surveillance and reconnaissance market in the years ahead, mostly from 2021 to 2028.
This is evident from rapid investments in new digital technologies, shift in user preferences, applications in various industry verticals such as gaming, content creation, social media, and conference across leading countries in the region such as India and China.
Additionally, technological advancements due to various research and developments initiatives, the presence of tech giants, commercial mergers and partnerships, expansions of the leading companies in regional and global market are improving the growth feasibility of global intelligence surveillance and reconnaissance market in Asia Pacific.
The APAC area is seeing an increase in the deployment of intelligence surveillance and reconnaissance equipment. Because China and India are investing heavily in their armed forces and are among the top five countries in the world in terms of defence budget, the region is expected to become an important region for genesis intelligence surveillance and reconnaissance. In addition, both of these countries have plans to improve their unmanned aerial systems in the near future, which might help drive the industry in this region forward.
Growing research activities coupled with new product launches are new market opportunities for ISR market
The global ISR market is expected to grow moderately because the usage of ISR is increasing, and more countries are adopting this technology for securing the borders of their country.
The recent COVID-19 outbreak started in Wuhan (China) in December 2019 and has rapidly spread around the world since then. As of March 2020, China, Italy, Iran, Spain, the Republic of Korea, France, Germany, and the United States were among the countries with the highest number of positive cases and reported deaths. Due to lockdowns, travel bans, and company closures, the COVID-19 epidemic has impacted economies and businesses in a number of countries.
These are some key factors bringing thumping growth of global intelligence surveillance and reconnaissance market, ensuring market size growth of approximately 42.5 USD billion by 2026 at a CAGR of 4.5% from 2021 to 2028.
ISR is the collecting, processing, and dissemination of accurate, timely, relevant, assured, and coherent information and intelligence to support the commander's operations. In general, sea, land, space, and air systems play important ISR roles in supporting operations. It is possible to establish better clarity and depth of knowledge by massing ISR assets. ISR refers to a variety of activities including the design and operation of data collection, processing, and dissemination systems in support of present and future military actions.
ISR systems are being implemented for both surface and submarine surveillance in response to the growing demand and necessity for national security solutions. Many countries have shown significant success by adapting contemporary ISR techniques such as satellite reconnaissance, unmanned aerial systems (UAS), and manned sensor platforms. These intelligence and surveillance solutions come in a variety of formats, including radar, optical, pictures, infrared, and electronic signals, and they can be used on everything from mobile devices to orbiting satellites, boosting the worldwide intelligence surveillance and reconnaissance business.
However, complexities connected with intelligence, surveillance, and reconnaissance procedures are projected to stymie the worldwide intelligence surveillance and reconnaissance industry. Nonetheless, the worldwide intelligence surveillance and reconnaissance market is experiencing growth due to increased research activity and new product introductions.
The major players of the global intelligence surveillance and reconnaissance market are Elbit Systems, Harris, General Dynamics, Thales Raytheon Systems, Boeing, CACI, BAE Systems, L3 Technologies, Northrop Grumman, Kratos Defense & Security Solutions, Rheinmetall Defense, and Lockheed Martin.
Among all other established and emerging companies and investors. These market players are spread across the world and are aggressive in developing new technologies to lead the market and improve revenue growth. Furthermore, the market players to stay ahead of the competitive landscape are unravelling strategic initiatives like mergers and acquisitions, new product portfolios, and technological innovations.
Latest Innovations in the Global Intelligence Surveillance and Reconnaissance Market: Snapshot
- The ISR market is predicted to increase at a moderate rate, as the use of ISR grows and more governments use the technology for border security.
- Disruptive innovations are emerging in the military industry as a result of rapid technological advancements.
- The growing usage of small unmanned systems for surveillance is likely to increase the demand for electronic components required in ISR missions, resulting in unexpected competition.
Intelligence Surveillance and Reconnaissance Market Scope
|Forecast Unit||Value (USD)|
|Revenue forecast in 2028||42.5 USD billion|
|Growth Rate||CAGR of 4.5% during 2021-2028|
|Segment Covered||Product, Regions|
|Regions Covered||North America, Europe, Asia Pacific, Middle East and Africa, South America|
|Key Players Profiled||Elbit Systems, Harris, General Dynamics, Thales Raytheon Systems, Boeing, CACI, BAE Systems, L3 Technologies, Northrop Grumman, Kratos Defense & Security Solutions, Rheinmetall Defense, and Lockheed Martin.|
Key Segments of the Global Intelligence Surveillance and Reconnaissance Market
Platform Overview, 2018-2028 (USD Billion)
Regional Overview, 2018-2028 (USD Billion)
- Rest of Europe
- Rest of Asia Pacific
- Rest of South America
Middle East and South Africa