Airborne Intelligence Surveillance Reconnaissance Market
To continually stay one step ahead of pernicious elements in society, constant vigilance is required in this era of international terrorism. Despite reductions in defence spending, nations all over the world have taken this very seriously and are doing everything they can to strengthen their surveillance and reconnaissance capacities. It is anticipated that countries including the United States, China, Russia, and India would completely replace or modernise their airborne intelligence surveillance and reconnaissance equipment during the course of the next ten to fifteen years.
This is primarily due to their innate defence needs and the influx of customisation possibilities, technological advancements, and alternative payment methods on the market for airborne intelligence surveillance and reconnaissance equipment. The market for airborne intelligence, surveillance, and reconnaissance equipment is anticipated to reach a value of just under $30 billion in 2021.
Unmanned ISR Far More Popular Than Manned ISR
Unmanned ISR had a revenue share greater than two-thirds in the airborne intelligence surveillance and reconnaissance equipment market by aircraft type segment in 2017 and are on track to gain market share going forward. Unmanned ISR’s are preferred over their manned counterparts because they are far safer and have minimal risk to human life. The unmanned ISR segment in the airborne intelligence surveillance and reconnaissance equipment market is assessed to have a value of almost US$ 20 billion at the end of the forecast period.
Manned ISR account for the balance revenue share in the airborne intelligence surveillance and reconnaissance equipment market and are predicted to lose share at the expense of unmanned ISR’s. North America has a large contribution in the airborne intelligence surveillance and reconnaissance equipment market and companies are advised to focus on the US as it has a huge defense budget and should continue to remain the preeminent military spender.
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