Global UAV Market 2018-2022
About this market
The development of alternate propulsion technologies for UAV is likely to boost the UAV market growth. UAV manufacturers have realized the potential of alternative power source and are continuously involved in R&D to solve the existing problems such as low surface area to capture sunlight for sustainable flight. Technavio’s analysts have predicted that the UAV market will register a CAGR of more than 13% by 2023.
Emergence of new technologies and platforms
The UAV market has witnessed the emergence of new technologies and platforms, which is helping the market grow. Powerful nations such as the US, Russia, and China are concentrating on the growth of sophisticated and powerful weapons that can accelerate the impact of enemy destruction using cost-efficient and reliable sources.
SWaP and bandwidth challenges
Congestion is being witnessed in certain frequency brands owing to the rapid growth in the number of wireless devices. The allocation of the dynamic frequencies of the spectrum becomes more difficult during conflicts or disaster.
For the detailed list of factors that will drive and challenge the growth of the UAV market during the 2019-2023, view our report.
The market appears to be fragmented and with the presence of several companies including DJI and Elbit Systems, the competitive environment is quite intense. Factors such as the emergence of new technologies and platforms and the development of alternate propulsion technologies for UAV, will provide considerable growth opportunities to UAV manufactures. DJI, Elbit Systems, General Atomics, Insitu (Boeing), and Northrop Grumman are some of the major companies covered in this report.
‘With the presence of a considerable number of companies, this market appears to be fragmented. This market research report will help clients identify new growth opportunities and design unique growth strategies by providing a comprehensive analysis of the market’s competitive landscape and offering information on the products offered by companies.’
Technavio Announces the Publication of its Research Report – Global UAV Market 2018-2022
Technavio recognizes the following companies as the key players in the global UAV market: DJI, Elbit Systems, General Atomics, Insitu (Boeing), and Northrop Grumman.
Commenting on the report, an analyst from Technavio’s team said: “The latest trend gaining momentum in the market is the development of alternate propulsion technologies for UAV.”
According to the report, one of the major drivers for this market is the emergence of new technologies and platforms.
Further, the report states that one of the major factors hindering the growth of this market is the SWaP and bandwidth challenges.
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