LONDON--(BUSINESS WIRE)--The global UAV payload and subsystems market is expected to grow by USD 34.96 billion as per Technavio. This marks a significant market growth compared to the 2019 growth estimates due to the impact of the COVID-19 pandemic in the first half of 2020. Moreover, healthy growth is expected to continue throughout the forecast period, and the market is expected to grow at a CAGR of 30%. Request Free Sample Report on COVID-19 Impacts
Read the 120-page report with TOC on "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), and the Segment Forecasts, 2020-2024".
The market is driven by the advances in electronic warfare (EW). In addition, the emergence of AI-enabled drones is anticipated to boost the growth of the UAV payload and subsystems market.
Since the early 2000s, warfare strategies of global armed forces have significantly transformed on account of the integration of advanced technologies and platforms. Drones are being used extensively in current warfare scenarios due to their visual superiority and capability of performing pre-emptive strikes and surveillance on specific locations. Global powerhouses such as the US, the Russian Federation, and China have been keenly investing in the development of advanced and powerful weapon systems that can accelerate the impact of attacks using cost-efficient and reliable sources. Countries such as the US, the UK, and France have already deployed UCAVs for counter-insurgency and domestic warfare. Thus, the increasing adoption of electronic warfare is expected to drive the need for superior payload systems integrated onboard UAVs. This, in turn, will fuel the growth of the global UAV payload and subsystems market during the forecast period.
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Major Five UAV Payload and Subsystems Companies:
AeroVironment Inc. designs, develops, and operates a technologically advanced portfolio of products and services such as unmanned aircraft systems for government agencies and businesses. The company's key offerings include, which is an EO/IR payload that features a 15-megapixel color camera. It supports 50x lossless zoom to provide nighttime and low-light capabilities, ranging from near-infrared (NIR) to long-wave infrared (LWIR) imagery.
BAE Systems Plc
BAE Systems Plc has business operations under various segments, such as electronic systems, cyber and intelligence, platform and services, air, and maritime. The company offers Tactical SIGINT Payload, which is a next-generation SIGINT system that integrates a software-defined open architecture for LOS and BLOS network operations to provide the command center with a 360-degree aerial view of the operational area in real time.
Elbit Systems Ltd.
Elbit Systems Ltd. provides a broad portfolio of airborne, land, and naval systems as well as products for defense, homeland security, and commercial applications. The company offers UAS Data Link Systems, which combines multiple streams of data gathered by a variety of UAS sensor payloads into a unified stream of Internet Protocol (IP) data packets.
Israel Aerospace Industries Ltd.
Israel Aerospace Industries Ltd. offers a wide range of products including space systems, remotely piloted aerial systems, naval systems, commercial aircraft, maintenance, repair, and overhaul (MRO) and conversion, theater defense, military aircraft and helicopter upgrade, ISR systems, land systems, homeland security, and cyber solutions. The company's key offerings include MOSP and MiniPOP.
Lockheed Martin Corp.
Lockheed Martin Corp. has business operations under various segments, such as aeronautics, missiles and fire control, rotary and mission systems, and space. The company offers OnPoint OnBoard Vision Processing Unit Vision Suite v3.0. This is a compact, highly capable vision processing unit (VPU) that captures video and still imagery from digital image sensors, such as the onboard 10 Megapixel ePTZ digital imager.
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UAV Payload And Subsystems Type Outlook (Revenue, USD bn, 2020-2024)
- Cameras and sensors - size and forecast 2019-2024
- Radars and communication - size and forecast 2019-2024
- Weaponry - size and forecast 2019-2024
- Others - size and forecast 2019-2024
UAV Payload And Subsystems Regional Outlook (Revenue, USD bn, 2020-2024)
- North America - size and forecast 2019-2024
- Europe - size and forecast 2019-2024
- APAC - size and forecast 2019-2024
- MEA - size and forecast 2019-2024
- South America - size and forecast 2019-2024
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