Defence

The global military airborne intelligence, surveillance & reconnaissance (ISR) technologies market was valued at US$19,321 million in 2021 and is projected to grow at a CAGR of 6.1% during the forecast period 2022-2032.

The military electro-optical and infrared systems market is seeing increased demand from airborne platforms, which has resulted in continued investment in the airborne electro-optical and infrared systems sector.

The Global Small Arms Market is driven by the nature of warfare has shifted, new weapons have been developed, transnational disputes and regional instability are on the rise across the globe, rising participation in shooting and hunting sports.

Expansion of military investments is expected to boost the global military Communications & COTS market.

Domestic traffic will continue to rise in the future years, increasing demand for new aircraft, which will gradually move from fleet expansion to quicker replacement of older, less fuel-efficient aircrafts, and thus improved surveillance technology.

The expanding terrorist threat, criminals’ use of strong personal weapons, and a growing focus on border security by government authorities in various nations are driving up demand for body armour that provides ballistic protection.

One of the major factors fuelling the growth of the military GNSS devices market is innovation in navigation and positioning equipment.

Rising need across the globe is being observed to secure and prepare countries, their people, and critical infrastructure from all hazards and threats. In addition to this, homeland security organizations in both developed and developing countries are focused on investing a substantial amount in advanced homeland security systems to enhance the capabilities of their forces and ensure the safety and security of citizens.

The introduction of a precision targeting system in which optical targeting facilitators define, identify, and track targets using laser beams has acquired widespread acceptance, resulting in a steady increase in demand for targeting pods, especially in the first half of the projected period.