Pune, India -- (SBWIRE) -- 04/18/2018 -- Airborne ISR Market - Overview:

The global airborne ISR market is highly competitive, and vendors compete on the basis of cost, product quality, reliability, and aftermarket service. To survive and succeed in such an intensely competitive environment, it is crucial for vendors to provide cost-effective and high-quality ISR systems with latest technology and materials. Lockheed Martin and Northrop Grumman are the two leading vendors in the market. Their focus is primarily on the implementation of light-weight materials, more electric technologies, and robust systems.

Mergers and acquisitions, along with increased collaboration with alliance partners around the world, would drive the global airborne ISR market, in the forecast period. For example, in 2000, Raytheon, a prominent supplier of the market, merged with SY Coleman Corp., to develop surveillance systems. Similarly in 2005, three ISR vendors, Titan Corp., L-3 Communications and Boeing Satellite Systems, merged to provide enhanced ISR systems and solutions.

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Major Key Players

The major players operating in global airborne ISR market, who have adopted the strategies such as geographic expansion, mergers, and acquisitions are BAE Systems (UK), Lockheed Martin (US), Northrop Grumman (US), UTC Aerospace Systems (US), General Dynamics (US), Raytheon (US), Thales (France), FLIR Systems Inc (US), Elbit Systems Ltd (Israel) and Boeing (US).
As per MRFR analysis, the global Airborne ISR Market was valued at USD 21,114.3 million in 2016, which is expected to reach USD 27,786.6 million by 2023 with a CAGR 4.10% during the forecast period 2017-2023.

Industry/ Innovation/ Related News:

September 25, 2015:- Northrop Grumman along with University of Maryland launched advanced cyber security experience for students. It includes four year honours college program that provides student experience in cyber security.
June 23, 2015:- BAE systems Launched Cloud-Based Cyber Security designed to defend against targeted attacks in Canada.
June 17, 2015:- L-3 Communications Security and Detection Systems announced new Clear Scan next generation cabin baggage explosive detection system
January 5, 2015:- BAE systems launched a Corporate Security Analysis service to guide companies through social risk monitoring and regional security analysis.

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Regional Analysis

China, Japan, India, and South Korea, the three major technological hubs of the Asia Pacific region, have increased their military expenses significantly, and have procured a number of advanced airborne ISR systems. The other countries of the region, such as India, Australia, and Singapore are not lagging behind, as they have increased their military exports, over the years.

In the recent years, the Asian countries have been prone to extremaist and insurgent threats as well as territorial disputes. There have been a high number conflicts in the India-Pakistan border, India-China border along the Himalayas, the Indian Ocean, and the South China Sea. It has resulted in the deployment of large battalions of troops to such regions, in order to counter the rise in cross-border activities. Some countries in the region such as Australia, China, India, Japan, and South Korea have supported their armed troops with the deployment of airborne ISR systems, which would boost the soldiers' combat capabilities, efficiencies, and accuracy.

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