Irving,Texas (PRWEB) August 10, 2012
The global UAVindustry experienced a robust growth over the last five years and is expected to continue its growth momentum reaching approximately US$10.7billion in 2017 with a CAGR of 8.0% over next five years (2012-2017).
Lucintel, a leading global management consulting and market research firm, has analyzed the global UAV industry and presents its findings in “Global UAV Industry 2012-2017:Trend, Profit and Forecast Analysis.”
The global UAV industry is highly consolidated and consists of all types of UAVs such as Mini, Tactical, MALE (Medium Altitude Long Endurance), HALE (High Altitude Long Endurance), and UCAV (Unmanned Combat Ariel Vehicle).A combination of factors such as high standards and technological requirements highly impacts market dynamics.
Lucintel’s research indicates that in 2011,the industry witnessed a robust growth over 2010 due to the huge contribution made by the US and Europe.APAC and ROW are forecast to see the highest growth over 2012-2017 due to increasing defense procurement budget in emerging economies and geopolitical instability in APAC and ROW countries. APAC is a small market presently, but the region depicts a good positive growth potential with the increase in budgets; companies from other regions are entering APAC’s market through joint ventures.
There has been a significant increase in demand for UAVs from emerging countries.UAV spending across the globe received increased attention after the terrorist attack on the World Trade Center in 2001. The US Department of Defense drastically increased its funding for UAV programs after the attack.
An increase in home land security system, war against terrorism around the world and alliance and anincrease in demand for UAVs for security threats and safe countries are anticipated to drive the industry. High costs of UAVs, government rules and policies, being a new industry effective business models yet to be developed, and funding are the biggest challenges.
This study provides an overview of the global UAVindustry.The report tracks three market segments for four geographic regions: thus, it tracks 12 segments of the industry.
For a detailed table of contents and pricing information on these timely, insightful reports, contact Lucintel at +1-972-636-5056 or via email at helpdesk(at)lucintel(dot)com. Lucintel provides cutting-edge decision support services that facilitate critical decisions with greater speed, insight, and cost efficiency.