A new Research and Markets report predicts the global airborne intelligence, surveillance and reconnaissance market will hit a compound annual growth rate of 3.88 percent from 2017 through 2021.
Research and Markets reported that many countries have started to augment their maritime security systems amid escalating possibilities of terrorist attacks through sea routes and illegal dealings in mid-oceans.
Defense companies are also in the process of updating their airborne ISR systems to address the global need for defense and security systems.
The report notes that BAE Systems, L-3 Communications, Lockheed Martin, Northrop Grumman, UTC, Boeing, General Dynamics, Raytheon, Rockwell Collins and Thales are the tier-one market players.
Research and Markets’ report covers the Asia Pacific, Americas and Europe, the Middle East and Africa regions and cites the focus on surveillance via unmanned systems as among the factors that drive the market.
The report indicates that the growing investments and research and development efforts have made modern radar systems more complex to operate and that modern cruise missiles have become difficult to detect because of smaller radar cross-sections in aerodynamic designs.
Research and Markets also cited other technical threats such as unstable propagation of radio waves, data encryption laws and limited spectrum allowance.