Unmanned Aerial Vehicle (UAV) Manufacturing
Over the past five years to 2018, the Unmanned Aerial Vehicles (UAV) Manufacturing industry experienced multiple challenges. Since the vast majority of demand for drones comes from the US military, the overall decline in defense spending before and during the five-year period led to a reduction of funding for industry products. Moreover, demand was further reduced because the industry supplied the military with an enormous UAV fleet in the previous decade. Over the five years to 2023, industry revenue is expected to continue experiencing turbulence. The defense market for UAVs will be increasingly dominated by the procurement of advanced drones like the Global Hawk, replacement of existing platforms and the development of new systems like Boeing's MQ-25 carrier-launched unmanned aerial tanker. Nevertheless, funding will fluctuate year-to-year, creating volatility.
Industry operators manufacture and design unmanned aerial vehicles (UAVs) and related control systems for civilian and military applications. UAVs can be either autonomous or remote-controlled and are used in situations where the use of a human pilot is undesirable or dangerous.
This report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecasts, growth rates and an analysis of the industry key players and their market shares.
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