|Market Research A to Z | Company Profiles A to Z | Register | Contact Us | Shopping Basket|
|+44 (0) 203 086 8600 Call us on|
The global unmanned aerial vehicle (UAV) market has been forecast to increase at a compound annual growth rate (CAGR) of 4.6% over the next decade, rising from a valuation of US$43.7 billion recorded at the end of 2012, to hit a market value of US$68.6 billion by 2022.
In the past decade, UAVs have been the most dynamic growth sector of the global aerospace industry.
Market demand is anticipated to be driven by increased UAV procurement by several countries across the world and continuous requirement formulations in areas such as persistent surveillance, suppression/destruction of enemy air defence (SEAD/DEAD), communications relays and combat search and rescue (CSAR).
Europe and North America account for an estimated 80% of global defence spending. These countries were, however, among the hardest hit by the global financial crisis.
This has led to austerity measures being introduced by national governments, which in turn have resulted in reduced defence budgets and the cancellation and indefinite delay of various UAV and associated payload projects.
With the expected growth in market demand and diversity in UAV applications, there is a growing requirement for the future of UAV design to combine multi mission, modular, open architecture features, capable of accomplishing diverse missions.
In addition, with the drive towards austerity measures in defence budgets in developed countries, UAVs are expected to be flexible enough for diverse operations, rather than dedicated to a single mission.
Overall, the industry consists of approximately 36 companies, and is dominated by a few large firms. The new entrants and smaller firms are encountered with substantially high barriers to secure a considerable share of the market.
For example, in the UAV and payload industry of the US, a major share of more than half of the total market revenue is shared by the top four companies.
For more information on the global UAV market, see the latest research: Global UAV Market
Follow us on Twitter@CandMResearch
Free Research Support: Let us do the work for you and find information from public and private sources of information. Contact us now and we can save you time and money.......Free Research Support
Use our skills and global network of researchers and consultants to help find and source the business information you need.
Contact us now on 00 44 (0) 203 0868600 or "enquiries @ companiesandmarkets.com" to discuss you requirements and we can provide you with a research solution at suprisingly efficient rates and timelines.
Sometimes we can even find the information you require for free.
We are offering our clients substantial savings on the best research available during January. Please contact us either via email or by calling our team to discuss your specific research needs on Tel: 00 44 (0) 203 0868600.