Military UAV Market, valued at US$9.9 billion in 2017, is projected to grow at a CAGR of 4.32% over the forecast period, to US$15.2 billion by 2027. 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.
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UCAVs and HALE UAVs are more in demand by major defense spenders such as the US, Russia, the UK, and China, whereas MALE and TUAVs are finding growing markets in developing countries such as India, Brazil, and the UAE.
Military UAV market is expected to be led by North America with a share of 34.4% over the forecast period, closely followed by APAC with 31.7%, and Europe at 24.1%.
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The Middle Eastern market for military UAVs is expected to account for 8%, followed by the Latin American and African markets with collective share of 1.8%. The growing need of advanced autonomous technology is driving smaller economies to focus on procurement of UAV’s.
Additionally, the potential application of UAVs in urban areas for security and surveillance operations has significantly propelled the countries to invest in UAVs.
Global UAV market is dominated by North America, with the US being the largest defense spender in the sector. Overall, North America will spend US$45.8 billion on UAVs during the forecast period.
A number of countries in the Asia Pacific region are enhancing their UAV industry through sustained procurement and indigenous development programs, and the region is projected to spend an valued at US$42.3 billion on UAVs during the forecast period. Over the forecast period, Europe represents the third-largest market, with the total UAV market valued at US$32.1 billion.
The growing investments on unmanned platforms is anticipated to offer a potential opportunity for western firms.
The global military UAV market will be driven by internal and external security threats, territorial disputes, and modernization initiatives undertaken by armed forces across the world.Significant UAV customers include countries in the North American and Asia Pacific region, and the global UAV market will be dominated by the US throughout the forecast period. Asia Pacific’s share of the global UAV market is also projected to increase, largely due to a number of international territorial conflicts and insurgency issues.
In particular, it provides an in-depth analysis of the following -
- Market size and drivers: detailed analysis during 2017-2027, including highlights of the demand drivers and growth stimulators. It also provides a snapshot of the spending and modernization patterns of different regions around the world.
- Recent developments and industry challenges: insights into technological developments and a detailed analysis of the changing preferences of military UAVsegments around the world. It also provides trends of the changing industry structure and the challenges faced by industry participants.
- Regional highlights: study of the key markets in each region, providing an analysis of the key segments of the market that are expected to be in demand.
- Major programs: details of the key programs in each segment, which are expected to be executed during 2016-2026.
- Competitive landscape and strategic insights: analysis of the competitive landscape of the global market. It provides an overview of key players, together with information regarding key alliances, strategic initiatives, and financial analysis.
Browse the complete report at www.orbisresearch.com/reports/inde…-market-2017-2027
The Global Military UAV Market 2017-2027 report 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.
- The global military UAV market is expected to grow at a CAGR of 4.32% over the forecast period.
- The market consists of six categories: UCAV, HALE, MALE, TUAV, VTOL-UAV, and MUAV. It is expected to be dominated by the UCAV, followed by HALE UAV and MALE UAV.
The North American region is forecasted to dominate the sector with a share of 34.4%, and the Asia-Pacific market is dominated by China, India, and Australia. Russia and the UK occupies a major market share in the European region.
Reasons to access
- 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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