Market Size of Naval ISR Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | 3.50 % |
| Fastest Growing Market | Asia-Pacific |
| Largest Market | North America |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Naval ISR Market Analysis
The Naval ISR market is anticipated to grow at a CAGR of 3.5% during the forecast period.
The COVID-19 pandemic hugely impacted various naval ISR manufacturing plants and industries worldwide. Many manufacturing companies witnessed a decline in orders due to the lack of components and equipment. This led to a disruption in the manufacturing schedules of the naval ISR companies. Moreover, manufacturers of naval ISR systems also faced delivery challenges owing to border restrictions imposed by various countries and bottlenecks in the supply chain. With the end of the pandemic and the reopening of global borders, there was an increase in the number of orders for naval ISR systems by various governments, and this, in turn, led to many manufacturers increasing their production capacities to meet the surge in demand for naval ISR systems and this will lead to the growth in the market in the coming years.
The demand for naval ISR is anticipated to experience substantial growth during the forecast period, primarily due to their broad application and scope, especially in the commercial and defense sectors. Naval ISR is used for activities such as navigating the ocean floor, detecting enemy threat vessels, mapping out the ocean floor, and improving the situational awareness of military and commercial naval vessels.
The significant increase in defense spending and procurement programs by various countries in recent years and the increasing usage of artificial intelligence shall propel the market's growth in the coming years. According to the data released by the Stockholm International Peace Research Institute (SIPRI), world military spending witnessed growth in 2021, reaching an all-time high of USD 2.1 trillion.
Naval ISR Industry Segmentation
Naval Intelligence, Surveillance, and Reconnaissance (ISR) systems aid in the detection and monitoring of friendly and hostile forces and assess the damage to the enemy forces within a particular region. Naval ISR helps in various security activities to improve situational awareness and increase military personnel protection.
The market is segmented by vessel type (surface vessel ISR and underwater vessel ISR), operation (defense and commercial), application (search and rescue, intelligence gathering, coastal surveillance, and tactical support), and geography (North America, Europe, Asia-Pacific, Latin America, the Middle East and Africa). The report covers market sizes of different geographical regions. The report offers a market forecast and is represented by USD million. Furthermore, the information also includes various vital statistics on the market status of leading Naval ISR market players and provides key trends and opportunities in the Naval ISR market.
| By Type | |
| Surface Vessel ISR | |
| Underwater Vessel ISR |
| By Operation | |
| Defense | |
| Commercial |
| By Application | |
| Search & Rescue | |
| Intelligence Gathering | |
| Coastal Surveillance | |
| Tactical Support |
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Naval ISR Market Size Summary
The Naval ISR market is poised for growth, driven by the increasing demand for intelligence, surveillance, and reconnaissance systems across both commercial and defense sectors. The market experienced disruptions during the COVID-19 pandemic, with manufacturing plants facing challenges such as component shortages and supply chain bottlenecks. However, the reopening of global borders and the subsequent rise in orders have prompted manufacturers to expand production capacities. This growth is further supported by the significant increase in defense spending and the integration of advanced technologies like artificial intelligence, which are expected to enhance the capabilities of naval ISR systems. The underwater vessel ISR segment is particularly anticipated to grow, fueled by territorial conflicts and the need for enhanced maritime surveillance and threat detection.
North America stands as the largest market for Naval ISR systems, benefiting from the adoption of advanced technologies and increased defense expenditure. The region's focus on developing sophisticated naval ISR systems to support intelligence and reconnaissance missions has bolstered local manufacturing companies. Prominent industry players such as BAE Systems, General Dynamics Corporation, and Lockheed Martin Corporation are actively engaging in growth strategies, including the development of new products and the integration of cutting-edge technologies. Recent contracts, such as those involving Textron Systems and the US Navy, highlight the ongoing efforts to enhance ISR capabilities through advanced unmanned systems and real-time data networks. These developments are expected to drive significant market growth during the forecast period.
Naval ISR Market Size - Table of Contents
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1. MARKET DYNAMICS
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1.1 Market Overview
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1.2 Market Drivers
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1.3 Market Restraints
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1.4 Industry Attractiveness/Porters Five Force Analysis
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1.4.1 Threat of New Entrants
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1.4.2 Bargaining Power of Buyers/Consumers
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1.4.3 Bargaining Power of Suppliers
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1.4.4 Threat of Substitute Products
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1.4.5 Intensity of Competitive Rivalry
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2. MARKET SEGMENTATION
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2.1 By Type
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2.1.1 Surface Vessel ISR
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2.1.2 Underwater Vessel ISR
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2.2 By Operation
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2.2.1 Defense
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2.2.2 Commercial
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2.3 By Application
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2.3.1 Search & Rescue
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2.3.2 Intelligence Gathering
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2.3.3 Coastal Surveillance
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2.3.4 Tactical Support
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2.4 By Geography
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2.4.1 North America
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2.4.1.1 United States
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2.4.1.2 Canada
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2.4.2 Europe
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2.4.2.1 Germany
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2.4.2.2 United Kingdom
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2.4.2.3 France
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2.4.2.4 Russia
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2.4.2.5 Spain
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2.4.2.6 Rest of Europe
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2.4.3 Asia-Pacific
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2.4.3.1 China
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2.4.3.2 India
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2.4.3.3 Japan
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2.4.3.4 South Korea
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2.4.3.5 Rest of Asia-Pacific
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2.4.4 Latin America
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2.4.4.1 Brazil
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2.4.4.2 Latin America
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2.4.5 Middle East and Africa
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2.4.5.1 United Arab Emirates
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2.4.5.2 Saudi Arabia
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2.4.5.3 Rest of Middle East and Africa
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Naval ISR Market Size FAQs
What is the current Naval ISR Market size?
The Naval ISR Market is projected to register a CAGR of 3.5% during the forecast period (2024-2029)
Who are the key players in Naval ISR Market?
BAE Systems, General Dynamics Corporation, Lockheed Martin Corporation, Thales Group and L3 Harris Technologies are the major companies operating in the Naval ISR Market.
