Market Synopsis of UAV Market
The global UAV market is expected to grow at a CAGR of around 11% during 2016-2021. This growth is driven due to significant demand and procurement of UAVs in civil and commercial application. As per the MRFR analysis, cost effectiveness is one of the key drivers for global UAV market to acquire and operate in comparison to manned aircraft and helicopters. The challenges associated with the market are the low endurance and stringent regulation associated with civilian and commercial usage of UAVs.
The United States is leading the global UAV market; however the demand has increased from emerging nations such as EMEA and Asia Pacific in relation to growing defense spending to counter national security threat.
- In 2015, the market was led by Americas with a share of around 56%, followed by EMEA with 25%, and APAC with 19%.
- Small unmanned aerial vehicles (UAVs) have become popular on the battlefield for various military missions (such as ISR applications)
- Demand for UAVs is rapidly increasing from emerging and developing nations to counter national security threat
- China is a major market for UAVs. It is expected to rise parallel with China’s commitment to growing utilization of unmanned systems, mainly for military applications
- In the US, FAA is working to draft guidelines and standards for the wide scale civilian or commercial use of UAV
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The leading market players in the global UAV market primarily include
- Elbit Systems,
- Israel Aerospace Industries (IAI),
- Northrop Grumman.
- Aeronautics Limited,
- Aeyron Labs,
- BAE Systems,
- Lockheed Martin
- Prox Dynamics.
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Study Objectives of UAV Market
- To provide detailed analysis of the market structure along with forecast for the next 5 years of the various segments and sub-segments of the Global UAV Market
- To provide insights about factors affecting the market growth
- To analyse the Global UAV Market based on various factors- price analysis, supply chain analysis, porter’s five force analysis etc.
- To provide historical and forecast revenue of the market segments and sub-segments with respect to four main geographies and their countries- North America, Europe, Asia, and Rest of the World (ROW)
- To provide country-level analysis of the market with respect to the current market size and future prospective
- To provide country-level analysis of the market for segment by types and applications
Regional and Country Analysis of UAV Market
As per the MRFR analysis, the Americas UAV market is to grow at a CAGR of around 8% during the forecasted period. Whereas, EMEA and Asia Pacific will grow at a CAGR of around 11% and 16% respectively.
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