Airborne Surveillance Market is Estimated to Witness High Growth Owing to Growing Military Spending
CALIFORNIA, UNITED STATES, November 22, 2023 /EINPresswire.com/ — Description
The airborne surveillance market encompasses products such as radar, electro-optics/infrared, and signals intelligence systems that are used for various surveillance applications including border surveillance, maritime surveillance, airspace monitoring, critical infrastructure protection, and intelligence. These systems provide key intelligence through persistent surveillance from airborne platforms.
Coherent Market insights announces the release of the report “Airborne Surveillance Market – Demand, Growth, Opportunities and Analysis of Top Key Player Forecast to 2030”, The Airborne Surveillance market research report provides a comprehensive analysis of the current state and future potential of the Airborne Surveillance market. The report covers various aspects, including market size, growth trends, key players, market segmentation, competitive landscape, industry drivers, and challenges. The objective of this report is to assist stakeholders, investors, and businesses in making informed decisions and formulating effective strategies to thrive in the Airborne Surveillance market, are provided. In addition, the report provides key insights about market drivers, restraints, opportunities, new product launches or approvals, COVID-19 and Russia-Ukraine War Influence.
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The major players operating in the market include:
➱ BAE Systems
➱ Lockheed Martin Corporation
➱ Raytheon Company
➱ Flir Systems
➱ Israel Aerospace Industries Ltd.
➱ L-3 Wescam
➱ Leica Geosystems AG
➱ Northrop Grumman Corporation
➱ and Saab AB.
These companies are focusing on new product development, partnerships, collaborations, and mergers and acquisitions to increase their market share and maintain their position in the market.
The airborne surveillance market is expected to witness significant growth over the forecast period owing to growing military spending worldwide and increasing demand for advanced intelligence, surveillance, and reconnaissance (ISR) systems from defense forces. Growing investments in defense capabilities is raising procurement of advanced airborne surveillance systems by defense forces. Additionally, rising border tensions and increasing instances of cross-border terrorism are prompting governments to heavily invest in persistent airborne surveillance systems for real-time monitoring of borders. Stringent aviation regulations regarding unmanned aircraft is restraining the market growth.
Government budgets allocation for surveillance aircraft:
A major driver for the airborne surveillance market is the increasing budgets being allocated by governments across all regions for the acquisition and upgrade of surveillance aircraft. With growing security threats such as terrorism, increasing geopolitical tensions, border management issues and natural calamities governments are placing more importance on monitoring wide areas using airborne surveillance systems. Many countries are now procuring new aircraft fitted with advanced sensors and radars or upgrading the surveillance payloads of existing aircraft. This increase in government spending on modernizing the air forces’ surveillance capabilities is having a positive impact on market demand.
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Advancements in sensor and connectivity technologies:
Another key factor fueling growth in the airborne surveillance market is the ongoing technological advancements happening in the domains of sensors, radars, imagery systems, data links and connectivity technologies. Manufacturers are developing more advanced electro-optical/infrared, synthetic aperture radar and signals intelligence sensors with higher resolutions, wider coverage areas and stronger capabilities to detect smaller targets even in adverse weather conditions. Additionally, improvements in data sharing standards and integration of multidomain sensors on platforms are enhancing situational awareness. These continuous technology upgrades are supporting increased uptake of new and upgraded systems.
Equipment obsolescence issue:
Dependence on aging systems that are becoming obsolete is a major challenge faced by many air forces globally. Legacy aircraft that have been in service for 3-4 decades now have limitations in terms of payload capacities, lifespans and compatibility with latest sensors and networks. This issues of existing fleets reaching the end of their operational lives poses a bottleneck for the continuity of surveillance operations. Countries do not have enough budgets to replace whole fleets in one go and retiring aircraft before procuring new ones can compromise coverage. Managing this mid-life obsolescence problem of current assets is a key restrain for the industry.
One of the prominent opportunities for market expansion is the increasing integration of unmanned aerial systems and remotely piloted aircraft into airborne surveillance networks. UAS offer several advantages like higher persistence, lower operating costs per hour and ability to takeover some of the high-risk missions from manned platforms. Industry is witnessing strong demand for UAS of different sizes fitted with various EO/IR, radar and comms payloads for ISR, border monitoring and infrastructure inspection roles. Integration and interoperability standards are maturing to allow UAS participation on large scales. Overall, UAS provide an avenue for complementing and augmenting traditional manned surveillance fleets.
AI/Big data capabilities:
An emerging trend with big transformative potential for airborne ISR is the increased adoption of artificial intelligence and big data analytics capabilities. Massive amounts of data from multimodal sensors are now being analyzed using advanced AI/machine learning tools to automate processing, improve accuracy of automatic target detection/recognition and enable comprehensive analysis and correlation of information from diverse sources for decision support. This shift towards cognitive ISR is helping optimize operational efficiencies and make surveillance networks more intelligent. Manufacturers are investing heavily in integrating AI backends on platforms and ground stations to exploit its opportunities.
Airborne Surveillance Market Segmentation:
On the basis of type, the global airborne surveillance market is segmented into:
◘ Imaging System
On the basis of product type, the global airborne surveillance market is segmented into:
On the basis of application, the global airborne surveillance market is segmented into:
◘ Military, Defense, and Security
Market segment by Region/Country including:
– North America (United States, Canada and Mexico)
– Europe (Germany, UK, France, Italy, Russia and Spain etc.)
– Asia-Pacific (China, Japan, Korea, India, Australia and Southeast Asia etc.)
– South America (Brazil, Argentina and Colombia etc.)
– Middle East & Africa (South Africa, UAE and Saudi Arabia etc.)
Frequently Asked Questions (FAQs):
➱ What are the key factors hampering growth of the Airborne Surveillance market?
➱ What are the major factors driving the global Airborne Surveillance market growth?
➱ Which is the leading component segment in the Airborne Surveillance market?
➱ Which are the major players operating in the Airborne Surveillance market?
➱ Which region will lead the Airborne Surveillance market?
➱ What will be the CAGR of Airborne Surveillance market?
➱ What are the drivers of the Airborne Surveillance market?