Global UAV Market 2016-2020
Outlook of the global UAV market
Technavio’s market research analyst predicts the global unmanned aerial vehicle (UAV) market to grow at a CAGR of more than 10% by 2020. A major factor that propels the prospects for growth in this market is its high-cost effectiveness and its ease of operation in comparison to manned aircrafts, for military and commercial applications. Furthermore, the augmented demand for UAVs from emerging markets, such as the Middle East and Asia, will result in this market’s strong growth during the forecast period.
Geographically, the Americas will be the largest market for UAVs during the forecast period. This region currently accounts for more than 54% of the total market share and is envisaged to retain its hold over the market by 2020 owing to the augmented demand for UAVs from the US army. The presence of major UAV manufacturers, such as Lockheed Martin, Aurora Flight Sciences, General Atomics, Northrop Grumman, and AeroVironment, in the US region, is another factor that will foster market growth in the Americas during the predicted period.
Application-based segmentation of the UAV market
- Civil or commercial UAVs
- Military UAVs
In this market analysis, analysts have estimated the military UAVs segment to account for more than 80% of the total market share by 2020. The ability of these UAVs to aid in ISR missions, aerial surveillance, and tactical operations will result in its augmented adoption during the predicted period. Factors such as its high rate of success, the ongoing increase in technological capability, and the rising utilization of UAVs against the war on terrorism will foster growth in this market segment until 2020.
Segmentation by type and analysis of the UAV market
- MALE UAV
- HALE UAV
- Tactical UAV
- Mini and Micro UAV
The medium-altitude long endurance (MALE) UAV segment currently dominates this market and accounts for a market share of more than 36%. The ability of these UAVs to fly at an altitude of around 30,000 feet for extended durations of time will lead to its augmented utilization during the forecast period.
Competitive landscape and key vendors
The global UAV market is highly competitive due to the presence of many multinational vendors. Since the market is consolidated, only a few vendors dominate this market in terms of shares. Prominent vendors and new entrants that have the ability to offer a range of economic UAV capabilities and innovative technologies will successfully survive and succeed in this market. Also, companies with access to high technical and financial resources can develop products that can make their rival's products non-competitive or outdated, even before they are launched.
Leading vendors in the market are -
- Elbit Systems
- General Atomics
- Israel Aerospace Industries
- Northrop Grumman
Other prominent vendors in the market include Aeronautics, Aeyron Labs, Aibotix, BAE Systems, DJI, Lockheed Martin, and Prox Dynamics.
Key questions answered in the report include
- What will the market size and the growth rate be in 2020?
- What are the key factors driving the UAV market?
- What are the key market trends impacting the growth of the UAV market?
- What are the challenges to market growth?
- Who are the key vendors in this market space?
- What are the market opportunities and threats faced by the vendors in the UAV market?
- Trending factors influencing the market shares of the Americas, APAC, Europe, and MEA.
- What are the key outcomes of the five forces analysis of the UAV market?
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