Global Military UAV Market 2018-2028
The military UAV market is estimated to be valued at around US$12.2 billion in 2018, and is expected to grow at a CAGR of just over 4% to a value of about US$18 billion by 2028. Cumulatively, the global market for military UAV is projected to be valuedat US$153 billion during the forecast period and is expected to be dominated by Asia Pacific followed by North America and Europe. The Asia Pacific region is projected to garner a share of around 35% of the total global military UAV market during 2018-2028.
In terms of segments, the military UAV market is split into six segments: UCAV, HALE, MALE, VTOL-UAV, TUAV and MUAV. The UCAVs and HALE UAVs are expected to account for about 39.4% and 22.9% of the military UAV market, respectively, followed by MALE UAVs, with a share of 17.7%.Category-wise, UCAVs are 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 in this segment, thus reducing costs in terms of fuel consumption. Combat UAVs (UCAVs) are the next generation of unmanned platforms, capable of carrying weapon payloads and accomplishing offensive missions.
UCAV’s will be followed by HALE and MALE UAV’s, which will account for the second and third largest segments over the forecast period, with cumulative spending of around US$35 billion and US$27billion respectively.Spending on VTOL-UAVs and TUAV’s will be relatively low with projected cumulative investments of about US$13.6 billion and US$11.0 billion, respectively, during 2018-2028. MUAV’s will account for the lowest spending in the UAV market with a cumulative spending of US$5.9 billion during the forecast period.
The report ""Global Military UAV Market 2018-2028"", offers a detailed analysis of the industry, with market size forecasts covering the next ten years. This report will also analyze factors that influence demand for military UAV, key market trends, and challenges faced by industry participants.
In particular, it provides an in-depth analysis of the following -
- Overview: snapshot of the military UAV market during 2018-2028, 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 three 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
Companies mentioned in this report: Israel Aerospace Industries, EMT Ingenieurgesellschaft, AAI Corporation, 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
- The Military UAV Market, valued at US$12.2 billion in 2018, is projected to grow at a CAGR of 4.09% over the forecast period, to reach US$18.1 billion by 2028.
- Realizing the benefits provided by UAVs as force multipliers, various countries are allocating substantial defense budgets to the R&D and procurement of advanced UAVs.
- UCAVs and HALE UAVs are more in demand by major defense spenders such as the US, Russia, the UK, and China, whereas MALE UAVs and TUAVs are finding growing markets in developing countries such as India, Brazil, and the UAE.
Reasons to buy
- Determine prospective investment areas based on a detailed trend analysis of the global military UAV market over the next ten years
- Gain in-depth understanding about the underlying factors driving demand for different military UAV segments in the top spending countries across the world and identify the opportunities offered by each of them
- Strengthen your understanding of the market in terms of demand drivers, industry trends, and the latest technological developments, among others
- Identify the major channels that are driving the global military UAV market, providing a clear picture about future opportunities that can be tapped, resulting in revenue expansion
- Channelize resources by focusing on the ongoing programs that are being undertaken by the internal ministries of different countries within the global military UAV market
- Make correct business decisions based on thorough analysis of the total competitive landscape of the sector with detailed profiles of the top military UAV providers around the world which include information about their products, alliances, recent contract wins and financial analysis wherever available
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