Worldwide Unmanned Aerial Vehicles Industry to 2025 - Military Segment is Expected to Dominate the UAV Market - ResearchAndMarkets.com

DUBLIN--(BUSINESS WIRE)--The "Unmanned Aerial Vehicles Market - Growth, Trends, and Forecasts (2020 - 2025)" report has been added to ResearchAndMarkets.com's offering.

The unmanned aerial vehicles (UAV) market is anticipated to register a CAGR of more than 14% during the forecast period (2020 - 2025).

Companies Mentioned

• SZ DJI Technology Co., Ltd.
• AeroVironment, Inc.
• BAE Systems plc
• Northrop Grumman Corporation
• Elbit Systems Ltd.
• General Atomics
• Parrot Drones SAS
• IAI Group
• Thales Group
• Airbus SE
• The Boeing Company
• Microdrones GmbH

Unmanned combat aerial vehicles (UCAVs) are considered as low-cost alternatives to combat aircraft and they provide less collateral damage than missiles or aerial bombing deployed from manned aircraft. UCAVs are highly effective for targeting fast-moving infantry and can also fire warning shots with the real-time diversion of a fired missile to intentionally miss the target.

The growing realization of the UAV deployment in military operations has also encouraged vendors to offer UAVs that can be used in numerous commercial applications. These UAVs are also getting acceptances in other applications, including internet provision in remote places, aerial photography and video recording, survey and document wildlife, and public service missions. Several companies primarily offer small-UAVs that are used in agricultural, aerial photography, and data collection applications.

However, the growth of the UAV market can be hindered by technological and legal constraints such as limited endurance, SWaP and bandwidth challenges, and the presence of non-uniform laws and regulations that can restrict the usage of such systems in the airspace of certain countries.

Key Market Trends

Military Segment is Expected to Dominate the UAV Market

During the last decade, the adoption rate of medium-altitude long-endurance (MALE) UAVs has drastically increased as the major operators such as the US Army have been seeking to optimize the use of such robotic process automation (RPA) for addressing the persistent challenges in the ISR missions. Various new contracts are being awarded to cater to the increased demand. Emerging military powerhouses such as China, India, and Iran are upgrading their UAV arsenal to counter the threat of being outgunned on the aerial front. In February 2018, China's domestically produced UAV completed a 6-day live-fire test with various ammunition covering both extensive bombing and precise targeting. The CH-4 was developed by the China Aerospace Science and Technology Corporation (CASC), based on the previous model, the CH-3. It reportedly claims to offer better basic performance than the General Atomics' MQ-1 Predator.

Asia-Pacific is Expected to Experience the Fastest Growth in the UAV Market

During the forecast period, Asia-Pacific is expected to witness the highest growth rate, owing to the expansion of defense capabilities in key countries such as China, India, Japan, and South Korea. The paradigm shift in favor of unmanned systems reflects the military's general tendency to be at par with the most advanced technology available and perceptions of the emergence of asymmetrical warfare. Countries such as China, India, and Pakistan have been upgrading their respective inventories of military UAVs. Collaborative efforts are underway by dominant market players to capture the high growth potential of the market.

Similarly, in March 2016, the Indian Ministry of Defense (MoD) announced its intention to acquire over 5,000 UAVs worth nearly USD 3 billion over the next decade. This has resulted in Israel Aerospace Industries (IAI) partnering with Bengaluru-based Dynamatic Technologies and Elcom Systems to cater to the production, assembly, and support of UAVs in India. As of May 2018, India's indigenously developed Rustom-II MALE UAV prototype has been undergoing flight tests for making design changes to increase its flight altitude and is expected to enter service by 2020. The development of home-grown UAVs is likely to increase owing to the rising initiatives for indigenous aerospace platforms, which would significantly boost the UAV market in the Asia-Pacific region.

Key Topics Covered:

1 INTRODUCTION

2 RESEARCH METHODOLOGY

3 EXECUTIVE SUMMARY

4 MARKET DYNAMICS

4.1 Market Overview

4.2 Market Drivers

4.3 Market Restraints

4.4 Porter's Five Forces Analysis

5 MARKET SEGMENTATION

5.1 UAV Size

5.1.1 Small UAV

5.1.2 Medium UAV

5.1.3 Large UAV

5.2 Application

5.2.1 Military

5.2.2 Civil and Commercial

5.3 Geography

5.3.1 North America

5.3.2 Europe

5.3.3 Asia-Pacific

5.3.4 Latin America

5.3.5 Middle-East and Africa

6 COMPETITIVE LANDSCAPE

6.1 Vendor Market Share

6.2 Company Profiles

7 MARKET OPPORTUNITIES AND FUTURE TRENDS

For more information about this report visit https://www.researchandmarkets.com/r/rloc50