Technavio, a tech-focused market research firm, has published a new report on the global naval ISR market, which is expected to grow at a CAGR of more than 3% during the forecast period 2017-2021.
Based on geographical segmentation, Technavio market researchers categorize the global naval ISR market into the following key regions: the Americas, APAC, and EMEA.
Source: Technavio
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Top three contributors for the global naval ISR market are elaborated below:
NAVAL ISR market in the Americas: The US, Canada, Mexico, and Brazil are the key revenue contributing countries in the naval ISR market in the Americas. In late September 2016, the US deployed Sea-Based X-band Radar (SBX) on the waters of North Korea. SBX is known as one of the world’s largest and most sophisticated phased-array X-band radar.
According to Moutushi Saha, a lead analyst at Technavio, specializing in research on defense, “During 2009, Brazil signed a contract with the French naval manufacturer DCNS for the construction of four Scorpene-class diesel-electric attack submarines and one single large nuclear-powered submarine (Submarino com Propulsão Nuclear or SN-BR). The first Scorpene-class submarine is expected to be commissioned in 2018, while the other three SSKs are scheduled for completion in 2022.”
Naval ISR market in EMEA: The UK, France, and Israel are expected to be the top procurers in the naval ISR market in EMEA. The market’s growth in this region is fundamentally driven by the increasing investment in the development of new naval vessels. For instance, in 2016, the UK Ministry of Defense entered into a USD 48.95 million contract with Lockheed Martin for the installation of new navigation radars on more than 60 ships and submarines of the UK navy. The industry analysts at Technavio estimate the naval ISR market in EMEA to account for a revenue of almost USD 5 billion by 2021.
Naval ISR market in APAC:Increasing territorial tension between China and its neighbors (Vietnam, Malaysia, Philippines, Taiwan) over the South China Sea dispute and the long prevailing tension between India and Pakistan over the Kashmir dispute have encouraged nations to strengthen their naval warfare, thereby propelling the demand for naval ISR in the APAC region. China, India, Japan, Pakistan and Australia are the key revenue contributing countries in the naval ISR market in APAC, which is projected to surpass USD 3 billion in revenue by 2021.
The leading vendors operating in the global naval ISR market are:
- BAE Systems
- General Dynamics
- Lockheed Martin
- Raytheon
- Thales
Other prominent vendors in the market include TLAS ELEKTRONIK, Harris, Leonardo DRS, Northrop Grumman, and Ultra Electronics.
A more detailed analysis is available in the Technavio report titled, ‘Global Naval ISR Market 2017-2021’. Technavio also customizes reports by other regions and specific segments upon request.
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