Global UAV Market 2016-2020
UAVs, commonly referred as drones, are flights without a human pilot aboard. These flights are controlled either autonomously, by an onboard computer, or by remote control from the ground or another vehicle. UAVs range from large-sized UAVs used for tactical missions that are powered by internal combustion engine to small electric-powered UAVs driven by electric motors.
These small electric-powered UAVs are primarily used for military and defense applications. In addition, there has been an increasing interest for civilian or commercial applications of UAVs such as aerial photography, agriculture, 3D mapping, and wildlife protection.
Technavio’s analysts forecast the global UAV market to grow at a CAGR of 10.16% during the period 2016-2020.
Covered in this report
The report covers the present scenario and the growth prospects of the global UAV market for 2016-2020. The report provides a global overview of the market and the growth prospects by region (Americas, APAC, and EMEA).
The market is divided into the following segments based on application:
Technavio Announces the Publication of its Research Report – Global UAV Market 2016-2020
Technavio recognizes the following companies as the key players in the Global UAV Market: AeroVironment, Elbit Systems, General Atomics, Israel Aerospace Industries and Northrop Grumman.
Other Prominent Vendors in the market are: Aeronautics, Aeyron Labs, Aibotix, BAE Systems, DJI, Lockheed Martin, and Prox Dynamics.
Commenting on the report, an analyst from Technavio’s team said: “There has been a growing demand for small UAVs for civil, commercial, as well as military applications. In addition, there has been an increase in UAV R&D, which stimulates the spending on the market and provides improvements in the technology. Currently, the US leads the global market; however, there has been rising demand from the emerging markets as well, mainly from the Middle East and Asia.”
According to the report, one of the drivers of the global UAV market is the cost effectiveness associated with UAVs to acquire and operate compared to manned aircraft and helicopters for the different military as well as commercial applications. Moreover, UAVs (mainly electrically powered) make comparatively low noise during flight, which makes them suitable for espionage. Furthermore, increased global UAV spending and demand for small UAVs, is driving the market growth.
Further, the report states that market vendors face certain challenges such as low endurance and limited flight range of UAVs (mainly the small electric-powered UAVs).
AeroVironment, Elbit Systems, General Atomics, Israel Aerospace Industries, Northrop Grumman, Aeronautics, Aeyron Labs, Aibotix, BAE Systems, DJI, Lockheed Martin, Prox Dynamics.
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