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Global Airborne Surveillance Market to Grow at a CAGR of 4.30% During 2022-2027, Aided by the Rising Application in the Agriculture Industry

According to a new report by EMR titled, ‘Global Airborne Surveillance Market Report and Forecast 2022-2027’, the global airborne surveillance industry reached a value of around USD 4.8 billion in 2021. The market is expected to grow at a CAGR of 4.30% in the forecast period of 2022-2027 to reach USD 6.2 billion by 2027.

The rising application of the airborne surveillance agriculture and forestry industry is driving the market. This can be attributed to the efficient maintenance and quality control of the farms achieved by the unmanned aerial vehicles. Airborne surveillance gives better insight to the farmers about the happenings in the farms and helps increase the production of fruits and vegetables. The surveillance carried out by drones can help prevent the damage to the farms done by creatures, such as animals and birds.

In terms of region, North America is likely to account for a significant share in the market and is anticipated to witness a considerable growth in the forecast period. The United States of America is the highest spender on military and defence in the world. In addition to this, the country has witnessed a significant increase in the export of UAVs owing to the strong foothold of the UAV manufacturers in the region. Moreover, the rising geopolitical tensions and growing threat of terrorist activities in the United States is anticipated to augment the market in the forecast period.

The rising investment in the market is also adding to the growth. For instance, in April 2021, Boeing Co. (NYSE: BA) announced that the company had signed a contract of worth 1.6 billion with the United States Navy for the production of 11 P-8A Poseidon AEW&C aircraft.

Market Breakup by Type, Product Type, Application, and Region:

  • The market is segmented on the basis of type into LiDAR, radar, and imaging system.
  • The bifurcation of market, based on product type, includes manned and unmanned systems.
  • Based on application, the market is divided into military, defence, and security and commercial.
  • Region-wise, the global market for airborne surveillance can be divided into North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

Key Findings of the Report:

  • The global market for airborne surveillance is being driven by the rising application drones in the military and defence industry.
  • The rising military expenditure in various sovereign nations, owing to the rising geopolitical tensions and increasing risk of military confrontations, is anticipated to augment the market.
  • In addition to this, the rising demand for airborne surveillance in the agriculture and forestry industry is likely to provide impetus to the market in the forecast period.
  • The market will further be aided by the growing expansion of the major manufacturers in the emerging economies of the world.

Key Offerings of the Report:

  • The EMR report gives an overview of the global airborne surveillance industry for the periods (2017-2021) and (2022-2027).
  • The report also offers historical (2017-2021) and forecast (2022-2027) market information for the types, product types, applications, and regions of airborne surveillance.
  • The report analyses the market dynamics, covering the key demand and price indicators in the market, along with providing an assessment of the SWOT and Porter’s Five Forces models.

The major players in the global airborne surveillance market are BAE Systems Plc, Israel Aerospace Industries (IAI), Thales Group, Saab Group, and BIRD Aerosystems, among others. The comprehensive report by EMR looks into the market share, capacity, and latest developments like mergers and acquisitions, plant turnarounds, and capacity expansions of the major players.

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Expert Market Research (EMR) is a leading market research and business intelligence company, ensuring its clients remain at the vanguard of their industries by providing them with exhaustive and actionable market data through its syndicated and custom market reports, covering over 15 major industry domains. The company's expansive and ever-growing database of reports, which are constantly updated, includes reports from industry verticals like chemicals and materials, food and beverages, energy and mining, technology and media, consumer goods, pharmaceuticals, agriculture, and packaging.

EMR leverages its state-of-the-art technological and analytical tools, along with the expertise of its highly skilled team of over 100 analysts and more than 3000 consultants, to help its clients, ranging from Fortune 1000 companies to small and medium-sized enterprises, easily grasp the expansive industry data and help them in formulating market and business strategies, which ensure that they remain ahead of the curve.

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*We at Expert Market Research always thrive to give you the latest information. The numbers in the article are only indicative and may be different from the actual report.

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