DUBLIN--(BUSINESS WIRE)--The "North America Small UAV Market Segmented by Type, by Propulsion System, and by Geography Growth, Trends, and Forecast (2018 - 2023)" report has been added to ResearchAndMarkets.com's offering.
The North American small UAV market is likely to grow from USD 391.78 million in 2017 to USD 821.2 million by 2023. The industry is expected to register a CAGR of over 9.25% over the forecast period.
Increased Military Spending
Military expenditure is likely to remain the primary driver of the market during the forecast period. Used as target decoys for combat missions, research and development, and supervision, small UAVs have become part and parcel of the military forces worldwide. The ability of these UAVs to aid in ISR missions, aerial surveillance, and tactical operations is driving its augmented adoption.
Small UAVs are expected to continue to be applied in various military services, due to their high convenience in reducing losses and enabling the execution of high-profile and time-sensitive missions. The larger unmanned aerial vehicles, such as HALE, MALE, etc., are used mainly by the military in combat operations, which require aerial vehicles to have a long range. Their advantages are limited in short-range and extremely covert operations, as the larger UAVs have a more significant heat signature.
Other Key Highlights
- Increasing Commercial Applications
- Increased Demand for UAV from ISR
- Airspace Regulations Could Restrain Growth
Major Developments in the Market
- Israel Aerospace Industries (IAI) signed a strategic teaming agreement for industrial cooperation for SUAV systems with Dynamatic Technologies and Elcom Systems in India.
- The Federal Aviation Administration has selected a small group of companies, including Thales, to support their effort to simplify the process for small UAS operators, to comply with the current US regulations, and safely integrate their operations into the US National Airspace System.
Key Topics Covered
1. Introduction
2. Research Methodology
3. Market Insights
4. Market Dynamics
5. North America Small UAV Market, Segmented by Type
6. North America Small UAV Market, Segmented by Application
7. North America Small UAV Market, Segmented by Propulsion System
8. North America Small UAV Market, Segmented by Geography
9. Competitive Landscape
10. Company Profiles
- Elbit Systems
- Israel Aerospace Industries (IAI)
- Thales SA
- Boeing Corporation
- Aerovironment
- Drone America
- BAE Systems PLC
- Parrot Drones SAS
- Da-Jiang Innovations Science and Technology Co. Ltd.
- Airbus Group
- DJI
- Aeronautics Limited
11. Future Market Outlook
For more information about this report visit https://www.researchandmarkets.com/research/76glvw/north_american?w=4
