This research report provides revenue projections and forecast of the global UAV payload and subsystems market until 2019. It includes an in-depth segmentation analysis based on C4I systems, Radar, Electronic warfare, Electro-optic, and Sonar. Growth prospects for leading regions include market shares for Americas, APAC, and EMEA. Analysis of the leading vendors of the market includes AeroVironment, Boeing, Elbit Systems, Lockheed Martin, and Northrop Grumman.
Technavio’s market research analysts estimate the UAV payload and subsystems market to grow at a CAGR of around 8% between 2015 and 2019, owing to the increased use of UAVs in civil, commercial and the military market due to its cost effectiveness. The Americas dominate the market with the US being the largest military investor across the world. The US has plans to scale up investments to bring in a fleet size of close to 8,300 UAVs by 2017. Meanwhile, the market projections for Latin America are indicative of investments around $270 million in defence spending by 2022.
The new market research report from Technavio provides a breakdown and analysis of the UAV segments by payloads.
UAVs are being extensively used in military operations that fall within the domain of electronic warfare (EW). UAVs degrade the radio systems by jamming the radar, and this has led to increased investments in EW systems. In 2015, the US Navy invested US $2 million with Mercury Defense Systems to provide EW jammers. In July 2014, the US Army deployed EW systems to its MQ-1C UAV, which is expected to bring in more investments in the market. The UAV payload and subsystems market for EW segment is expected to generate around US $2 billion during the forecast period.
Global UAV payload and subsystems market for EW 2014-2019 ($ billions)
Source: Technavio Research
“The global UAV payload and subsystems market is shifting towards the deployment of advanced automated systems and new generation miniature UAVs. Through these UAVs, the army personnel track the exact location of the ally without moving away from their positions. Also, the market is witnessing a major shift towards solar-powered UAVs as these are capable of flying at higher altitudes and endurance up to 300 hours. Moreover, UAVs are also adapting stealth technology to perform surveillance, intelligence and reconnaissance missions,” says Sriram Mohan, Lead Analyst, Aerospace and Defence, Technavio Research.
The top players in the UAV payload and subsystems market include AeroVironment, Boeing, Elbit Systems, Lockheed Martin, and Northrop Grumman. Intense competition prevails among the existing vendors in the market where they contend in terms of cost, reliability, and the evolution of new technologies in this sector.
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