According to a new market research report published by Credence Research “Unmanned Aerial Vehicles Market (Altitude – Low Altitude, Medium Altitude, High Altitude; Application – Defense, Homeland Security, Commercial) – Growth, Share, Opportunities, Competitive Analysis and Forecast 2016 – 2023”,the global unmanned aerial vehicles (UAV) market stood at US$4.33Bn in 2015and is estimated to expand with a CAGR of 7.85% from 2016 to 2023.
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Market Insights
The overall UAV market is majorly driven by the rising expenditure by national governments on the defense sector. UAVs are majorly used for surveillance and monitoring across borders, homeland security and other crucial areas. Over the period of time, UAVs have found immense applications ranging from electronic intelligence, communication, aerial imaging and others. This is further estimated to significantly drive the overall market growth in the coming years. More than 50companies (including Northrop Grumman Corporation, Boeing Company), universities and government organizations in the U.S. are engaged in development of over 150 different unmanned aircraft designs. Thus, the UAV market holds immense opportunities and growth potential in the near future.
The overall UAV market is largely driven by the increased spending over unmanned systems since the last few years. The U.S., Israel and China are prime markets for UAV across the world, in terms of expenditure and development. Due to high spending over defense sector, the two countries have emerged highly lucrative for UAV. In response to the increasing demand, various companies are striving to provide platforms (UAVs) along with the software solutions, sensors, communications and other subsystems. Nevertheless, major concern for the market is high costs of the UAVs, especially the ones designed to operate in the high altitude category. Countries having less defense budget face high initial costs as a major concern for deployment of high altitude UAVs.
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Competitive Insights:
The global UAV market is consolidated in nature with few market players accounting for more than 40% of the total market revenue. The UAV market is highly competitive in nature. Majority of the market players have focus on offering high end UAVs that can sustain harsh environment and can stay aloft for longer flights. Major companies such as Boeing Company, Northrop Grumman Corporation and others have conducted series of acquisitions and partnerships in order to expand their footprint in the market.
Key Trends:
Providing complete UAV system comprising platform, software solutions, sensors, communications and other subsystems
Acquisition of government contracts
Focus on research and development of UAVs
Emphasis on providing high altitude UAVs
Solar power operated UAVs
Table of Content
Chapter 1 Preface
1.1 Report Description
1.1.1 Purpose of the Report
1.1.2 Target Audience
1.1.3 USP and Key Offerings
1.2 Research Scope
1.3 Market Segmentation
1.4 Research Methodology
1.4.1 Phase I – Secondary Research
1.4.2 Phase II – Primary Research
1.4.3 Phase III – Expert Panel Review
1.4.4 Assumptions
1.4.5 Approach Adopted
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Chapter 2 Executive Summary
2.1 Market Snapshot: Global Unmanned Aerial Vehicles (UAV) Market
2.2 Global UAV Market, By Subsystem
2.3 Global UAV Market, By Payload
2.4 Global UAV Market, By Altitude Category
2.5 Global UAV Market, By Application
2.6 Global UAV Market, By Geography
Chapter 3 Market Dynamics
3.1 Product Insights and Market Overview
3.1.1 Global UAV Market Revenue and Y-o-Y Growth, 2013 – 2023, (US$ Mn) (%)
3.2 Key Trends Analysis
3.2.1 Evolution of Unmanned Aerial Vehicles
3.2.2 Key Market Trends
3.2.3 Upcoming Applications: Unmanned Aerial Vehicles
3.3 Market Drivers
3.4 Market Growth Inhibitors
3.5 Opportunities
3.6 See-Saw Analysis
3.6.1 Impact Analysis of Drivers and Restraints
3.7 Competitive Analysis
3.7.1 Market Positioning of Key Vendors
3.7.2 Major Strategies adopted by Leading Players
Chapter 4 Global UAV Market Analysis, by Subsystem
4.1 Market Analysis
4.2 Ground Control System
4.3 Data Links
4.4 Software
4.5 Flight Training & Simulation
Chapter 5 Global UAV Market Analysis, by Payload
5.1 Market Analysis
5.2 Surveillance Radar
5.3 Electro-optics
5.4 Aerial Imaging Cameras
5.5 Signal Intelligence
5.6 Communication Relays
5.7 Navigation Systems
5.8 Synthetic Aperture Radars (SAR)
5.9 Others
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