Categories: Aerospace & Defence

Airborne ISR Market 2024 – Growth, Market Size, Analysis, Competitive Landscape | Raytheon Technologies Corporation, Lockheed Martin Corporation, BAE Systems PLC, Northrop Grumman Corporation, L3Harris Technologies Inc.

Overview and Scope
The airborne ISR refers to hardware and software systems used to gather accurate and timely information on enemy forces through advanced technologies and real-time intelligence to secure potential threats. The purpose of airborne ISR is to collect information about the enemy by observing their behavior and tracking their movements. The efficient use of ISR data could provide advanced warning of enemy threats allowing military forces to improve their effectiveness and coordination.

Sizing and Forecast
The airborne isr market size has grown strongly in recent years. It will grow from $28.31 billion in 2023 to $30.34 billion in 2024 at a compound annual growth rate (CAGR) of 7.2%. The growth in the historic period can be attributed to military conflicts, geopolitical tensions, rise in defense budgets, threat of terrorism, government initiatives.

The airborne isr market size is expected to see strong growth in the next few years. It will grow to $39.98 billion in 2028 at a compound annual growth rate (CAGR) of 7.1%. The growth in the forecast period can be attributed to demand for persistent surveillance, economic growth, environmental monitoring, rise in military modernization . Major trends in the forecast period include miniaturization and micro uavs, autonomous and ai-enabled systems, hyperspectral and multispectral imaging, space-based isr, data fusion and integration.

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Segmentation & Regional Insights
The airborne isr market covered in this report is segmented –
1) Airborne ISR Market By Solution: Systems, Software, Services
2) Airborne ISR Market By Platform: Military Aircraft, Military Helicopters, Unmanned Systems
3) Airborne ISR Market By Application: Search and Rescue Operations, Border and Maritime Patrol, Target Acquisition and Tracking, Critical Infrastructure Protection, Tactical Support, Others
4) Airborne ISR Market By End User: Defense, Homeland Security

North America was the largest region in the airborne ISR market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the airborne isr market report include Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.

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Major Driver Impacting Market Growth
The growing threats of a terror attack are expected to propel demand for the airborne ISR market. Terrorist attacks refer to violence created by a group of individuals to create a climate of fear among the population and thereby promote a political objective. An increase in terror attacks across the globe is expected to boost demand for airborne ISR since the government and multiple security agencies are extensively investing in technologically advanced systems to predict and eradicate possible terrorist attacks, thereby promoting peace and harmony. For instance, in March 2023, according to Institute for Economics and Peace, a Australia-based Think Tank, Terrorist attacks became more deadly in 2022, killing on average 1.7 people per attack in 2022 compared to 1.3 deaths per attack in 2021. Therefore, the rising threats of a terror attack are expected to boost demand for airborne ISR systems and software during the forecast period.

Key Industry Players
Major companies operating in the airborne isr market include Raytheon Technologies Corporation, Lockheed Martin Corporation, BAE Systems plc, Northrop Grumman Corporation, L3Harris Technologies Inc., General Atomics Aeronautical Systems Inc., The Boeing Company, Elbit Systems Ltd., Textron Inc., Thales Group, Leonardo S.p.A., Safran Group, Kratos Defense & Security Solutions Inc., Israel Aerospace Industries Ltd., Leidos Holdings Inc., FLIR Systems Inc., Airbus SE, General Dynamics Corporation, Rheinmetall AG, Mercury Systems Inc., AeroVironment Inc., PAL Aerospace Ltd., Israel Military Industries Ltd., Sierra Nevada Corporation, Insitu Inc., Esterline Technologies Corporation, Curtiss-Wright Corporation, RADA Electronic Industries Ltd., Top Aces Inc., CACI International Inc.

Top Major Players

Raytheon Technologies Corporation

Lockheed Martin Corporation

BAE Systems PLC

Northrop Grumman Corporation

L3Harris Technologies Inc.

The airborne isr market report table of contents includes:

1. Executive Summary

2. Airborne ISR Market Characteristics

3. Airborne ISR Market Trends And Strategies

4. Airborne ISR Market – Macro Economic Scenario

5. Global Airborne ISR Market Size and Growth