default logo

Global ISR Satellite Systems Market Growth at CAGR 3.18%

March 11, 2018

ISR (Intelligence, surveillance and reconnaissance) become plays a vital in the modern defense system. There is a huge demand for real-time situational awareness and a growing emphasis on network-centric warfare is expected to drive the market for surveillance and observation platforms, especially satellite-based ISR systems. During the forecast period, the global spending for military satellites IRS segment claims the highest share. Military satellite market during 2018-2028, IRS segment is expected to account for 48.1% overall.

An ISR satellite provides enhanced military capabilities by sending real-time, high-resolution imagery across different wavelength bands, and increases situational awareness. The utilization of spy satellites over regions of concern is gaining momentum worldwide, worrying rise in terrorism, geopolitical disputes, aggressive military activities in commercial zones, and others. Moreover, used extensively in missile defense, ISR satellites allow for the early detection and neutralization of multiple missile threats and therefore increase defensive military capabilities.

ISR satellite technologies are also expected to proliferate over the forecast period, leading to the development of satellites that are able to operate for longer and have improved capabilities. Owing to the low operational life of most current spy satellites, the market is also projected to experience further investments relating to the replacement of obsolete satellites with newer ones. This factor is required to keep reinforcing ventures towards the IRS sector all through the forecast period.

IRS system

Source: Strategic Defence Intelligence

Read More