The Americas intelligence, surveillance, and reconnaissance market is projected to grow with a CAGR of more than 4% during the forecast period.
– The increasing demand for intelligence, surveillance, and reconnaissance solutions across land and sea borders of the countries in North America and Latin America is expected to drive the growth of the market during the forecast period.
– The integration of the intelligence-gathering sensors into the ISR systems with enhanced surveillance range and capabilities for better situational awareness of the military personnel is expected to propel the growth ISR market in the regions.
– Also, the growing demand for unmanned systems and systems with autonomous capabilities is expected to propel the market in the coming years.
Get a PDF Sample for more detailed market insights: https://www.sdki.us/sample-request-88271
Key Market Trends
The Sea Segment is Expected Witness Significant Growth During the Forecast Period
The Sea segment of the market is expected to witness growth during the forecast period owing to the increasing investments towards enhancing the capabilities of maritime surveillance. The procurement of patrol vessels, USVs, as well as modernization of existing enemy detection and threat-warning systems with advanced, newer-generation systems onboard naval vessels, is anticipated to drive the growth of the segment. For instance, in February 2020, the Brazilian Navy signed a contract worth USD 6.4 million with Ghenova to complete the design of two Macaé-class offshore patrol boats. The United States is also integrating advanced radar technologies on-board their naval vessels. For instance, the US Navy awarded a contract worth USD 250 million to Raytheon to install SPY-6 family of air and missile defense radars in two DDG-51 Flight III destroyers. In addition to this, the Navy plans to install SPY-6 radar on future amphibious assault ships and second Ford-class aircraft carriers that are planned to be inducted in the coming future. Such factors are expected to accelerate the growth of the sea segment of the market during the forecast period.
North America Dominates the Market in terms of Market Share
The North America region currently dominates the market and is expected to continue its domination during the forecast period. This is mainly due to the procurement of various land, air, sea, and space ISR systems by the US and Canada governments. The US armed forces are currently procuring and modernizing its ISR platforms across Airforce, Army, and Navy. The US Navy is in plans to replace EP-3E ARIES II, a manned ISR platform with MQ-4C Triton. These new UAVs will perform signals intelligence missions from 2021 and continue to perform maritime surveillance missions. Also, the US Marine Corps along with the Navy is planning to invest in surface unmanned capabilities, like large and medium unmanned surface vehicles, that can carry various payloads to include ISR. The Airforce is also increasing its investments into artificial intelligence/machine learning, deep learning, computer vision technologies that will decrease the time of searching and analyzing the data. Canada is also increasing its investments in the procurement of ISR platforms with advanced sensors. Such investments are anticipated to bolster the growth of the market in the coming years.
Request for PDF Sample Copy: https://www.sdki.us/sample-request-88271
Some of the prominent players in the America intelligence, surveillance, and reconnaissance market are L3Harris Technologies Inc., General Dynamics Corporation, The Boeing Company, Raytheon Technologies Corporation, and Lockheed Martin Corporation. With the presence of a wide range of products like maritime patrol aircraft, patrol vessels, radars, unmanned aerial vehicles (UAVs), and USVs among others, companies are increasing their share in the market with the sales of various ISR platforms to the armed forces. In January 2019, the US Navy signed a contract modification with Boeing for manufacturing and delivering 10 P-8A aircraft that has long-range anti-submarine warfare and ISR capabilities across a broad area of maritime and littoral operations. The competition in the market is expected to increase with companies increasing their investments into the development of new products to support the ISR missions of the armed forces in the regions.
Reasons to Purchase this report:
– The market estimate (ME) sheet in Excel format
– 3 months of analyst support
Respiratory Monitoring Devices Market
Varicose Vein Treatment Market
Neurovascular Embolization Devices (Neurology) Market
Epilepsy Monitoring Devices Market
Amniotic Membrane Market
Burn Injury Treatment Market
Dental Membrane and Bone Graft Substitutes Market
Companion Animal Diagnostics Market
Atherosclerosis Drugs Market