According to Stratistics MRC, the Global Naval ISR Market is accounted for $15.70 billion in 2022 and is expected to reach $20.80 billion by 2028 growing at a CAGR of 4.8% during the forecast period.
Naval Intelligence, Surveillance, and Reconnaissance (ISR) systems aid in the detection and tracking of friendly and hostile forces, as well as the assessment of enemy force damage within a certain zone. Additionally, naval ISR contributes to numerous security operations by enhancing situational awareness and hence enhancing military personnel protection.
The market for naval ISR is expected to expand significantly throughout the projected period, owing to its broad applicability and scope, particularly in the commercial and defence sectors. Naval ISR can be utilized for many different things, including mapping the ocean floor, navigating the ocean floor, identifying hostile threat vessels, and enhancing the situational awareness of both military and commercial naval vessels.
By geography, Asia Pacific is projected to have the highest CAGR over the forecast period, owing to the rising focus placed by countries such as India, China, and Japan on maintaining strategic presence in respective oceanic zones. Furthermore, rising cross-border tensions and illicit commerce through marine channels are propelling industry expansion in the region.
Some of the key players profiled in the Naval ISR Market include Atlas Elektronik, BAE Systems, General Dynamics Corporation, L3 Harris Technologies, Leonardo DRS, Lockheed Martin Corporation, Northrop Grumman, Raytheon, Thales Group, Ultra Electronics.
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Vessel Types Covered:
- Underwater Vessel Intelligence Surveillance And Reconnaissance (ISR)
- Surface Vessel Intelligence Surveillance And Reconnaissance (ISR)
- Critical Infrastructure Protection
- Coastal Surveillance
- Disaster Relief
- Search & Rescue Operation
- Maritime Monitoring
- Tactical Support
- Other Applications
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