Market Size of Americas Intelligence Surveillance and Reconnaissance Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2019 - 2022 |
| CAGR | > 4.80 % |
| Market Concentration | Medium |
Major Players.webp)
*Disclaimer: Major Players sorted in no particular order |
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Americas Intelligence Surveillance & Reconnaissance Market Analysis
The American military aircraft simulation and training market is anticipated to register a CAGR of over 4.8% during the forecast period.
- The COVID-19 pandemic had a serious impact on the country's economy seriously. The US economy contracted by approximately 3.5% in 2020 due to the closing of various businesses. In 2021, the economy grew considerably compared to 2020, and it was expected to witness a moderate growth rate in 2022. Despite the impact of the pandemic, the country continued to increase its defense spending, with a focus on research and development and implementation of several long-term projects. As the defense sector is a sensitive department in perspective of the security of the nation, the United state is consistently increasing defense spending. Due to this, the market is expected to grow in the coming future.
- The American market is expected to grow moderately as the usage of ISR is increasing, and countries are adopting ISR technoloto secureing their borders.
- Rapid technological developments are breeding disruptive technologies in the defense industry. The increasing use of small unmanned systems for surveillance is further expected to generate demand for electronic components used in ISR missions.
