Airborne ISR market to grow to $26.8 billion worldwide by 2026, study saysNews
January 04, 2022
SAN FRANCISCO. The global market for airborne intelligence, surveillance, and reconnaissance (ISR) -- estimated at $19.7 billion in the year 2020 -- is projected to reach $26.8 billion by 2026, growing at a combined annual growth rate (CAGR) of 5.1% over the study period, according to a new report from Global Industry Analysts, "Airborne Intelligence Surveillance and Reconnaissance (ISR) -- Global Market Trajectory & Analytics."
The market-research company reports that this new study presents fresh perspectives on opportunities and challenges in a very different post-COVID-19 marketplace.
Growth in the global market, say the study authors, is boosted by increased demand for ISR equipment and techniques from the defense segment worldwide for use in multiple battlefield-related functions; in addition, there exists a need to assist combat forces by putting the sensor data collected to use in the analysis of all collected information. Additionally fueling market growth are favorable initiatives undertaken by various governments for improving surveillance of airborne ISR, maturing technologies, and the growing need to apply stricter national security regulations.
One segment of the ISR market expected to see robust growth during the study period is the unmanned aerial system (UAS) market, as UASs are being increasingly deployed by countries in war zones worldwide for reconnaissance, for military surveillance missions, and in combat.
For more information, visit the Global Industry Analysts website.