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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.
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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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