LONDON--(BUSINESS WIRE)--The global unmanned aerial vehicle (UAV) payload and subsystems market size is poised to grow by USD 23.01 billion during 2019-2023, according to a new report by Technavio, progressing at a CAGR of close to 26% during the forecast period.
Read the 170-page research report with TOC on "Unmanned Aerial Vehicle (UAV) Payload And Subsystems Market Analysis Report by type (cameras and sensors, radars and communication, weaponry, and others) and geography (North America, Europe, APAC, MEA, and South America) 2019 - 2023" Request a Free Sample Report
The market is driven by the enhanced application profile encouraging procurement. In addition, the miniaturization of integrated sensors is expected to further boost the growth of the unmanned aerial vehicle (UAV) payload and subsystems market.
UAVs are increasingly being used in the defense sector owing to their enhanced capabilities. This is encouraging other industries also to adopt UAVs to enhance their business value. Drones are increasingly being deployed for a variety of commercial applications, such as aerial photographing, survey and documentation of wildlife, facilitating Internet provision in remote places, and public service missions. Such enhanced applications of UAVs are expected to drive the growth of the UAV payload and subsystems market during the forecast period.
Rapid technological advances have enabled developers to design miniaturized EO/IR payloads. These sensors offer sufficient heat dissipation and conform to industry standards without compromising on performance. Thus, the reduction of size and cost of advanced IR detectors and improvements in the resolution of low-end IR microbolometers will widen the application scope of UAV-mounted EO/IR sensors. This will fuel the overall growth of the market during the forecast period.
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The report includes detailed profiles of the leading companies & prominent vendors of the market:
- AeroVironment Inc.
- BAE Systems Plc
- Elbit Systems Ltd.
- Israel Aerospace Industries Ltd.
- Lockheed Martin Corp.
- Northrop Grumman Corp.
- Raytheon Co.
- SZ DJI Technology Co. Ltd.
- Textron Inc.
- The Boeing Co.
- United Technologies Corp.
Market Segmentation by Product:
The unmanned aerial vehicle (UAV) payload and subsystems market can be broadly categorized into the following segments:
■ Cameras and sensors
■ Radars and communication
Key Regions for the Unmanned Aerial Vehicle (UAV) Payload And Subsystems Market:
Featuring a breakdown of region-wise market shares until 2019.
- North America
- South America
Some of the key topics covered in the report include:
- Market ecosystem
- Market characteristics
Market segmentation analysis
- Market definition
Market size and forecast
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
Technavio’s sample reports are free of charge and contain multiple sections of the report, such as the market size and forecast, drivers, challenges, trends, and more. Request a free sample report
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