Technavio has released a new report that estimates the airborne intelligence, surveillance and reconnaissance market’s worldwide compound annual growth rate at 3 percent from 2015 through 2019.
The market will see a rise in demand for stealth ISR aircraft during the forecast period, buoyed by investment in ISR payloads, Technavio said Thursday.
“Most of the conventional aircrafts have a rounded shape, which makes them aerodynamic but also an efficient radar reflector,” said Faisal Ghaus, vice president of Technavio.
“Whereas stealth aircraft is made up of flat surfaces and sharp edges that either [absorb] the radar energy or reflect it away from the source and airplane,” which permits it to fly undetected, added Ghaus.
Technavio cites complex data sets and a dwindling defense budget as major challenges to the market.
BAE Systems, L-3 Communications, Lockheed Martin, Northrop Grumman and UTC Aerospace Systems are among tier-one market players profiled in the report.