UAVs have gained significant importance in recent years, as they are being extensively deployed in war zones and counter-terrorism operations, especially in South Asia and the Middle East. Furthermore, UAVs can lead the way into higher risk areas by reducing risks for manned aircraft while challenging next-generation air defenses system using stealth technology. Future UAVs will be quite stealthier, faster, and highly advanced equipped for more autonomous and more lethal electronic warfare, and would be able to deploy a large set of mini-UAVs in swarm groups.
Global military UAV market is expected to be valued at US$9.9 Billion in 2017, and will grow at a CAGR of 4.32%, to US$15.2 Billion by 2027. The cumulative market for global expenditure on military UAVs will reach US$133.3 Billion over the forecast period. The demand for UAVs is expected to be driven by internal and external security threats, territorial disputes, and modernization initiatives undertaken by Armed Forces across the world.
Category-wise, UCAVs is 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, thus reducing costs in terms of fuel consumption.
Key Topics Covered:
- Executive Summary
- Global Military UAV Market - Overview
- Market Dynamics
- Military UAV Market - Segment Analysis
- Regional Review
- Regional Expenditure On Each Sub-Segment, 2017-27
- Key Programs Analysis
- Competitive Landscape Analysis
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