As of PHP 7's release, you can use the null-coalescing operator (double "?") for this:
$var = $array["key"] ?? "default-value";
// which is synonymous to:
$var = isset($array["key"]) ? $array["key"] : "default-value";
In PHP 5.3+, if all you are checking on is a "truthy" value, you can use the "Elvis operator" (note that this does not check isset).
$var = $value ?: "default-value";
// which is synonymous to:
$var = $value ? $value : "default-value";
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