Global UAV Payload and Subsystems Market - Market Forecast and Analysis (2018-2023)
UAV Payload and Subsystems Market The market for unmanned aerial vehicle (UAV) payload and subsystems is expected to grow at a significant CAGR of 9.13% during the forecast period (2016-2021). UAVs are replacing regular manned aircraft for certain missions and combat operations. Rising operational demands are compelling manufacturers to push the boundaries on UAV capabilities, thereby, increasing the focus on this market.
The market has been segmented by
Payload - into C4I, Radar, Electronic Warfare, EO/IS, Sonar, Sensors, Camera; Subsystem - into GCS, Software, and Data Links; and Geography - into North America, South America, Europe, the Middle East & Africa and Asia-Pacific. C4I has the highest market share of payload and subsystems, and would continue to hold this position by the end of forecast period. However, the market for electro optic payloads is expected to have the highest growth rate, due to high price of optical fiber. North America is the biggest market for unmanned aerial vehicle payload and subsystems, but its growth is slowly plateauing due to a reduction in American defense expenditure. Asia-Pacific is projected to witness a significant growth during the forecast period, riding on Japan's resurgence as a military spender and also from the Indian, Chinese and South Korean markets. Saudi Arabia, which has limited drone capabilities, is also ramping up purchases and upgrades, to counter the increasing regional threats. There are several ongoing activities in the region for UAV systems and payloads.
Elbit Systems, Northrop Grumman, and Boeing are some of the key players in the global UAV payload and subsystems market. In 2015, L3 Communications acquired Force X, an ISR Specialist, which aided its transition from hardware provider to information provider. In the same year, Harris Corporation acquired Exelis, which gave it a very favorable position to capitalize on global market opportunities.
What the report offers
Market analysis of the global UAV payload and subsystems market, with region-specific assessments and competition analysis on a global and regional scale. Market definition along with the identification of key drivers, opportunities and restraints. Expert interviews and their insights on market shift, current and future outlook and factors impacting vendors short term and long term strategies. Identification of factors instrumental in changing the market scenario, rising prospective opportunities, and key companies that can influence this market on a global and regional scale. An extensively researched competitive landscape section with profiles of major companies, along with their market share. Identification and analysis of the macro and micro factors that affect the UAV payload and subsystems market on a global and regional scale.