This market research includes the present scenario and growth prospects of the global small UAV market between the period of 2016 and 2020. The report also includes a detailed segmentation of the global small UAV market by region (Americas, APAC, and EMEA). The key vendors analyzed in this market study are AeroVironment, Elbit Systems, Israel Aerospace Industries, SAAB, and Thales.
Technavio’s market research analysts estimate the global small UAV market, to grow at a CAGR of around 7% by 2020. Small UAVs are classified based on their size; they are small enough to be carried and operated by a single person. Major classification of small UAVs include mini UAVs and micro UAVs, which can be launched as portable air-defense systems by infantrymen. Factors such as improvements in technology and the economical acquisition of small UAVs for various commercial operations will lead to the rapid growth of the small UAV market. The Americas is the largest market for small UAVs, owing to augmented utilization of small UAVs by various governments in this region.
The new market research report from Technavio provides a breakdown and analysis of the UAV segments by technology.
“Currently, the market is witnessing increased utilization of commercial orbital transportation services (COTS) components. Rapid designing and innovations in COTS-based technologies have enhanced the computing capability and enabled compact designing. By incorporating COTS module, small UAVs can have image processing, image stabilization, video compression, analysis, and tracking in their in-built cameras,” says Abhay Singh, Lead Analyst, Aerospace & Defense, Technavio Research.
The ability of small UAVs to assist in surveying, scanning, aerial photography, 3D mapping, oil and gas pipeline monitoring, wind turbine blade inspection, and real estate surveys, will lead to its augmented adoption during the predicted period. Furthermore, with the increasing utilization of UAVs for military applications, especially in APAC, South America, and the Middle East, the market for small UAVs will witness a strong growth until the end of 2020.
The leading vendors in the global small UAV market are AeroVironment, Elbit Systems, Israel Aerospace Industries, SAAB, and Thales. The market is highly competitive due to the presence of many prominent players. In the military segment, the major vendors dominate this market as they have the capability to acquire major military projects. In the civil or commercial segments, many new players enter the market since it has low entry barriers. In this segment, the vendors compete on the basis of technological innovations, the functionality of the small UAV systems, and cost to gain maximum market prominence.
A more detailed analysis is available in the Technavio report, Global Small UAV Market 2016-2020.
We can customize reports by other regions and specific segments upon request.
Other related reports:
- Global Multirotor UAV Market 2015-2019
- Global UAV Payload and Subsystems Market: Research Report 2015-2019
Further reading:
