This market research includes a detailed segmentation of the global unmanned aerial vehicle (UAV) market by geography (Americas, APAC, and EMEA), by application (civil or commercial and military UAVs), and by type (MALE, HALE, tactical, and mini and micro UAVs). The key vendors analyzed in this report are AeroVironment, Elbit Systems, General Atomics, Israel Aerospace Industries, and Northrop Grumman.
Technavio’s market research analysts estimate the global UAV market, to grow at a CAGR of around 10% between 2016 and 2020. UAVs are cost-effective and can be easily operated in commercial and military applications, when compared to manned aircrafts. The Americas is the largest market for UAVs, accountying for 54% of the overall market share. Much of this region’s growth comes from the presence of major UAV manufacturers, such as Lockheed Martin, Aurora Flight Sciences, General Atomics, Northrop Grumman, and AeroVironment, and the augmented demand for UAVs from the US army.
The new market research report from Technavio provides a breakdown and analysis of the UAV segments by technology.
“Of late, the UAVs are going through various technological improves and innovations. Manufacturers are developing super capacitors to enhance the performance of UAVs. Also, they are incorporating 3D printing technology for the development of small and lightweight UAVs. Also, micro-UAVs are gaining wide acceptance in military missions, while there are various research activities going on to develop obstacle avoidance system and mid-air collision avoidance system for UAVs,” says Abhay Singh, Lead Analyst, Aerospace & Defense, Technavio Research
The military UAVs segment dominates the UAV market, and accounts for more than 80% of the total market share. The ability of these UAVs to aid in ISR missions, aerial surveillance, and tactical operations will result in its augmented adoption during the predicted period. Factors such as its high rate of success, the ongoing increase in technological capability, and the rising utilization of UAVs against the war on terrorism will foster growth in this market segment until 2020.
The leading vendors in the global UAV market are AeroVironment, Elbit Systems, General Atomics, Israel Aerospace Industries, and Northrop Grumman. The market is highly competitive due to the presence of many multinational vendors. Since the market is consolidated, only a few vendors dominate this market in terms of shares. Prominent vendors and new entrants that have the ability to offer a range of economic UAV capabilities and innovative technologies will successfully survive and succeed in this market. Also, companies with access to high technical and financial resources can develop products that can make their rival’s products non-competitive or outdated, even before they are launched.
A more detailed analysis is available in the Technavio report, Global UAV Market 2016-2020.
We can customize reports by other regions and specific segments upon request.
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