Aerospace Market Research News

Airborne surveillance market to grow at a 4.7% CAGR by 2023

The airborne surveillance market is expected to be worth USD 4.42 billion in 2017 and is expected to reach USD 5.81 billion by 2023, at a CAGR of 4.7% during the forecast period.

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Airborne Surveillance market 2023 is Market Overview, Trends and Forecast till 2023 report added on rnrmarketresearch.com. 

Major players operating in the airborne surveillance market are Airbus (France), Boeing (US), Saab (Sweden), BAE Systems (UK), Raytheon (US), Lockheed Martin (US), Leonardo (Italy), FLIR Systems (US), Northrop Grumman (US), L-3 Wescam (Canada), Leica Geosystems (Switzerland), Teledyne Technologies (US), Safran (France), Thales (France), and Israel Aerospace Industries (Israel).

“Airborne surveillance market for unmanned system is expected to grow at the highest rate during the forecast period”

Major reason behind the growth of unmanned systems is because of its lower cost, rapid technological advancements, and relaxation in regulations in different countries.

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This has given rise to the use of UAVs in the commercial sector. Increased funding from various investors and players motivate the companies to manufacture innovative solutions for the UAV industry, creating various opportunities in the market.

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Relaxation in laws is one of the major driving factors for the growth of commercial application. In recent years, many amendments in laws and regulations for drone usage have been observed, which have motivated end-users to increase the use of drones.

For instance, the flight altitude of drones has been increased from 100 feet to 400 feet, and the flight speed has been modified from 80 mph to 100 mph by FAA (US); the Government of Canada has made major amendments in the existing laws such as increasing the weight of drones from 250g to 1kg.

Airborne surveillance market in APAC is expected to grow at the highest CAGR between 2017 and 2023. China, Japan, South Korea, and India play a major role in APAC for the airborne surveillance market.

China, being an electronics manufacturing hub, is rapidly increasing the manufacturing of drones in the country. The commercial market for drones in China mainly focuses on applications such as agriculture, surveillance, mapping, weather monitoring, and others.

DJI (China) is one of the major manufacturers of drones in the commercial sector. China is home to several manufacturers of inexpensive drones, which is one of the factors that drives the growth of the drones market in China.

India has potential for the airborne surveillance market. Currently, the market is dominated by the military, defense, and security application, while the commercial application is expected to fuel the growth of the market in the near future.

In Japan, major areas of the use of drones are enterprise (commercial) and military drones. Other applications are transport, agriculture, parcel delivery, home delivery to the elderly in rural areas, telecommunication, pipelines, surveying, construction, real estate, news media, advertisement, film production, disaster recovery, and security.

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This report:

  • Major drivers, restraints, challenges, and opportunities for the growth of the tunable filter market have been analyzed in this report.
  • Illustrative segmentation, analysis, and forecast by type, system type, application, and geography have been performed to provide the overall view of the tunable filter market.
  • This report will help stakeholders better understand their competitors and gain insights on ways to improve their position in the business. The competitive landscape section includes the competitor ecosystem, product launches, and mergers &acquisitions.

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