Global Military UAV Market 2017-2027 Key Companies, Growth, Categories, Demands and Forecasts
PUNE, India, Nov. 20, 2017 /PRNewswire-iReach/ -- UAVs have gained significant importance in recent years, as they are being extensively deployed in war zones and counter-terrorism operations, especially in South Asia and the Middle East. Furthermore, UAVs can lead the way into higher risk areas by reducing risks for manned aircraft while challenging next-generation air defenses system using stealth technology. Future UAVs will be quite stealthier, faster, and highly advanced equipped for more autonomous and more lethal electronic warfare, and would be able to deploy a large set of mini-UAVs in swarm groups.
Global Military UAV Market is expected to be valued at US$9.9 Billion in 2017, and will grow at a CAGR of 4.32%, to US$15.2 Billion by 2027. The cumulative market for global expenditure on military UAVs will reach US$133.3 Billion over the forecast period. The demand for UAVs is expected to be driven by internal and external security threats, territorial disputes, and modernization initiatives undertaken by Armed Forces across the world.
Global Military UAV market Companies Mentioned: Israel Aerospace Industries, EMT Ingenieurgesellschaft, AAI Corporation, Sagem, BlueBird Aero Systems, Singapore Technologies Aerospace, Airbus, Boeing, General Atomics Aeronautical Systems Inc., AeroVironment, Aeronautics Ltd.,Elbit Systems Ltd., Northrop Grumman Corporation, Dassault Aviation SA., Denel Dynamics, Korea Aerospace Industries, BAE Systems, Saab and more industry profiles.
Category-wise, UCAVs is anticipated to be the top segment in the global UAV market. The demand for UCAVs is expected to be driven by the need to strike targets whenever detected by the UAV's ISR equipment, thereby providing enhanced lethality for the military. The demand for UCAVs is also driven by innovations that utilize solar energy, thus reducing costs in terms of fuel consumption.
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In terms of segments, the military UAV market is split into six segments: UCAV, HALE, MALE, TUAV, VTOL-UAV, and MUAV. UCAVs and HALE UAVs are expected to account for 40.8% and 25.1% of the military UAV market, respectively, followed by MALE UAVs, with a share of 17.4%.
Military UAV market is expected to be led by North America with a share of 34.4% over the forecast period, closely followed by APAC with 31.7%, and Europe at 24.1%. The Middle Eastern market for military UAVs is expected to account for 8%, followed by the Latin American and African markets with a collective share of 1.8%.
The report "The Global Military UAV Market 2017-2027" offers detailed analysis of the global military UAV market over the next ten years, and provides market size forecasts. Furthermore, it covers key technological and market trends in the industry, and analyzes factors influencing demand for military UAVs. Additionally, the report also highlights challenges faced by industry participants.
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In particular, this report provides the following -
- Overview: Snapshot of the military UAV market during 2017-2027, including highlights of the demand drivers, trends and challenges. It also provides a snapshot of the spending with respect to regions as well as segments.
- Market Dynamics: Insights into the technological developments in the military UAV market and a detailed analysis of the changing preferences of governments around the world. It also analyzes changing industry structure trends and the challenges faced by the industry participants.
- Segment Analysis: Insights into the military UAV market from a segmental perspective and a detailed analysis of factors influencing the market for each sector.
- Regional Review: Insights into modernization patterns and budgetary allocation for top countries within a region.
- Regional Analysis: Insights into the military UAV market from a regional perspective and a detailed analysis of factors influencing the market for each region.
- Trend Analysis - Key Defense Market: Analysis of the key markets in each region, providing an analysis of the military UAV segments expected to be in demand in each region.
- Key Program Analysis: Details of the top programs in each segment expected to be executed during the forecast period.
- Competitive landscape analysis: Analysis of competitive landscape of the global military UAV industry. It provides an overview of key defense companies, together with insights such as key alliances, strategic initiatives and a brief financial analysis.
- Scope - The global military UAV market is expected to grow at a CAGR of 4.32% over the forecast period.
The market consists of six categories: UCAV, HALE, MALE, TUAV, VTOL-UAV, and MUAV. It is expected to be dominated by the UCAV, followed by HALE UAV and MALE UAV. The North American region is forecasted to dominate the sector with a share of 34.4%, and the Asia-Pacific market is dominated by China, India, and Australia. Russia and the UK occupies a major market share in the European region.
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