Global Airborne Intelligence Surveillance and Reconnaissance Market Scenario
The worldwide market for airborne intelligence surveillance and reconnaissance is likely to register a remarkable 6.3% CAGR for the duration 2017 to 2022. The worldwide market is set to reach a market valuation of almost US$ 29.55 Billion by the end of 2022. This growth is mainly because of various nations investing in these equipment to remain one step ahead always as well as take a proactive instead of a reactive approach to whatsoever circumstances such as terrorism or other adversaries.
By aircraft type, the worldwide market is inclusive of manned ISR and unmanned ISR. The unmanned ISR had an overall market revenue share more than two-thirds during 2017 and is set to grow market share moving forward. This is owing to them being far securer as well as having a minimal threat to human life. This market is projected to have a market valuation of around US$ 20 billion before the conclusion of the assessment period. The manned ISR category, on the other hand, is expected to lose market share at the cost of unmanned ISR’s.
By fuel type, the worldwide market includes solar powered, gas-electric hybrids, alternate fuel, hydrogen fuel-cells, and battery operated. The gas-electric hybrids will have a borderline revenue share in the market during 2017 but must gain a number of shares proceeding. An absolute $ prospect of over US$ 780 million could be ascribed to gas-electric hybrids during 2017-2022. The solar-powered category is an alike niche currently since the solar energy investment is marginal at the best, particularly in contrast to the conventional equipment.
However, companies aggressively concerned in the solar-powered category could look for targeting North America regional market that is anticipated to reach a valuation of US$ 1 Billion towards 2022 end. The alternative fuel category is evaluated to foresee a remarkable CAGR exceeding 5.5% during 2017-2022, making it essential for foremost stakeholders in the market to remain present in this category. The hydrogen fuel cell category reflects a marginally smaller market prospect that the alternative fuel category in the market. On the other hand, it could scarcely be disregarded completely as foremost players are enduring hard in exploiting hydrogen as a fuel source owing to its ubiquity. The battery-operated category is the biggest market and the status is unlikely to change its position though it loses market share. North America market is expected to account for a market valuation of US$ 3.5 Billion before the end of the assessment period.
The foremost market players active in the worldwide market are L-3 Technologies Inc., BAE Systems, Northrop Grumman Corporation, Lockheed Martin Corporation, The Boeing Co., UTC Aerospace Systems, Raytheon Company, General Dynamics Corporation, Thales S.A., Rockwell Collins Inc., and others.