(MENAFN- The Express Wire)
Posted on Jan 27 2022 7:14 AM
'Key companies covered in the Airborne Surveillance market Research Report are Saab AB (Sweden), Reutech Radar Systems (South Africa), General Dynamics Corporation (the U.S.), Lockheed Martin Corporation (the U.S.), Thales Group (France), Northrop Grumman Corporation (the U.S.), The Raytheon Company (the U.S.)
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The global airborne surveillance market size is expected to gain momentum by reaching USD 7.70 billion by 2028 from USD 5.07 billion in 2021, while exhibiting a CAGR of 6.14% between 2021 to 2028. In its report titled“ Airborne Surveillance Market, 2021-2028 ,” Fortune Business Insights™ mentions that the market stood at USD 4.74 billion in 2020.
The increasing demand for airborne surveillance drones for security and safety at borders of various countries such as the U.S., China, India, and others is expected to benefit the market during the forecast period. Rising cross-border conflicts and geopolitical tensions among nations are encouraging governments to deploy such surveillance machines. For instance, in August 2020, the Indian Government signed an agreement with Israel worth USD 1 billion to procure an Indian Air force with two Phalcon airborne warning and control systems (AWACS). Therefore, such security deals are expected to fuel the market.
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List of Key Players Profiled in Airborne Surveillance Market Report
- Lockheed Martin Corporation (U.S.)
- L3Harris Technologies Inc. (U.S.)
- Northrop Grumman Corporation (U.S.)
- Teledyne FLIR LLC (U.S.)
- Reutech Radar Systems (South Africa)
- Thales Group (France)
- Saab AB (Sweden)
- Cobham PLC (U.K.)
- Leica Geosystems (Switzerland)
COVID-19 Impact on airborne surveillance Market
Amid the COVID-19 pandemic, demand for drones increased. For instance, in April 2020, Draganfly Inc., a U.S.-based UAV manufacturer, came up with Pandemic Drone. This drone is equipped with a special sensor and computer vision system. It will help in monitoring temperature, pulses, respiratory rates, and people coughing and sneezing around in public. This will also spray sanitizers in public places. The authenticity of this technology was tested by the Westport Police Department. Thus the airborne surveillance market is expected to thrive during the forecast period.
Market Segmentation:
By component, the market is divided into radars, sensors, imaging systems, and others. The radar segment held the largest airborne surveillance market share of 32.08% in 2020. This is attributable to the rising use of radar systems for surveillance in security, defense, and military applications.
By technology, this market is bifurcated into unmanned systems and manned systems. By application, it is bifurcated into commercial, military & government; whereas by platform, the market is segregated into fixed-wing aircraft, rotary-wing aircraft, and UAVs. Finally, based on region, the airborne surveillance market is categorized into North America, Europe, Asia Pacific, and the rest of the world.
What does the Report Provide?
The report of this market provides a detailed analysis of several factors, such as the key drivers and restraints that will impact growth. Additionally, the report provides insights into the regional analysis that covers different regions, contributing to the growth of the market. It includes the competitive landscape that involves the leading companies and the adoption of strategies to introduce new products, announce partnerships, and collaborate to contribute to the airborne surveillance market growth.
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Driving Factors
Increasing Procurement of Unmanned Aerial Vehicles (UAV) to Drive Market Growth
The increasing demand for drones in military missions, surveillance, and reconnaissance (ISR) capabilities on a real-time basis is expected to drive airborne surveillance. In recent years procurement of UAVs to enhance defense capabilities. Moreover, the increasing investment in the defense sector and intelligence gathering is fueling the market. For instance, in a report by Stockholm International Peace Research Institute, the global military defense spending had surpassed USD 1.9 trillion in 2019.
Regional Insights
North America to Dominate Backed by Extensive and Incessant Drone Innovation
North America is expected to remain at the forefront and hold the highest position in the global market during the forecast period owing to extensive and incessant drone innovation. The U.S. is also pushing the limits of drone innovation. Several programs such as (Unmanned Carrier-Launched Airborne Surveillance and Strike) UCLASS UAV program are expected to provide the United States with the foundation for a carrier-borne drone capability that can keep U.S. naval aviation vital. Furthermore, the country has also pioneered work on high-altitude surveillance drones and other vehicles that are constantly required by the political and military of the region.
Europe is expected to witness significant growth owing to the increasing investment of European Countries such as France and Germany in UAV LiDAR technology.
The market in South America and the Middle East & Africa is expected to grow substantially due to the rising demand for aerial surveillance owing to the developing infrastructure.
Competitive Landscape
Key Players to Focus on New Launches to Strengthen the Airborne Surveillance Market Growth
The market is witnessing a steady growth as the major companies are striving to maintain their position by focusing on new launches. For instance, in January 2021, Saab Ab got a contract worth USD 1.018 billion to deliver two Global Eye systems to the United Arab Emirates.
Industry Development
March 2021 – HENSOLDT, a sensor manufacturing company, has successfully passed the Factory Acceptance Test of its new airborne multi-mission surveillance radar PrecISR.
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