Global Naval ISR market to reach $15.9 Bilion by 2027

Issue: Aero India 2021 Special announced the release of the report “Global Naval ISR Industry on January 22, 2021. Global Naval ISR market to reach $15. 9 Billion by 2027. Surface Naval Vessels ISR, one of the segments analysed in the report, is projected to record 3.2 per cent CAGR (Compound annual growth rate) and reach $10.5 Billion by the end of the seven years. This analysis has taken into account the business implications of the pandemic. Growth in the Underwater Naval Vessels ISR segment is readjusted to a revised 2.2 per cent CAGR for the next 7-year period. The US market is estimated at $3.9 billion, while China is forecast to grow at 2.7 per cent CAGR and reach $2.8 billion. Competitors identified in this market include are Atlas Elektronik GmbH, BAE Systems PLC, General Dynamics Corporation, Harris Corporation, Leonardo DRS, Lockheed Martin Corporation, Northrop Grumman Corporation and Raytheon Company apart from other companies.