Unmanned aerial vehicles (UAVs) market to grow by 6 percent each year through 2020
DUBLIN, 18 Jan. 2016. Global demand for military unmanned aerial vehicles (UAVs) should grow by 6 percent each year from now until 2020, predict analysts at market researcher Research and Markets in Dublin.
Driving market will be competition among countries for modern and advanced weapons and military technologies, analysts say in the report Global Defense Drones Market 2016-2020.
The global defense industry is driven by massive investments in research, leading to the development of advanced technologies that enhance endurance, survivability, and functions of UAVs, analysts say.
The report divides the military UAV market into two segments: large and small UAVs. The large military UAV segment dominated the market during 2015, with a market share of 76 percent.
Large drones have long non-stop flight duration capabilities and can carry different payloads that vary from thermal cameras, listening antennas, and guidance lasers to various kinds of munitions to quality them for jobs like fire support, target designation, targeted strike missions, and intelligence gathering and surveillance.
The Americas accounted for 60 percent of the global market share during 2015 and the Americas share of the market should post a combined annual growth rate of 5 percent during the forecast period, analysts say.
The increasing deployment of unmanned vehicles in countries such as the U.S., Brazil, and other countries in Latin America is driving the growth of the market in this region.
Among the military UAV companies that Global Defense Drones Market 2016-2020 mentions are Israel Aerospace Industries; General Atomics Aeronautical Systems; Boeing; Lockheed Martin; Textron; Northrop Grumman; AeroVirnonment; and Prox Dynamics.
The report also covers the market landscape, market segmentation by types, geographical segmentation, key leading countries, market drivers, market challenges, market trends, and vendor landscape.
For more information contact Research and Markets online at www.researchandmarkets.com.