According
to a new market report published by Lucintel, the future of the Unmanned Ariel Vehicle (UAV)
industry looks positive with opportunities in civil and military applications.
Global
UAV industry is forecast to grow at a CAGR of 7.1% from 2015
to 2020. The major growth drivers of this market are increasing demand of UAVs for
intelligence, Surveillance, Reconnaissance (ISR) missions, and perform mission
without risking human life.
In
this market, UAVs are
used in civil and military applications. Lucintel
predicts that the demand for UAV in civil applications are likely to experience
the highest growth due to automation of work in applications, such as
agriculture, consumer product delivery and wild life security, and initiatives
to provide airspace access to UAVs for civil applications. On
the basis of comprehensive research, Lucintel forecasts that the civil
application of UAV is expected to show above average growth during the forecast
period.
Within the UAV industry, UAV in military
application is expected to remain the largest market due to increasing usage of
UAV in ISR missions, homeland security, and border security. UAVs have been in
service for several decades, but got high exposure in the last decade due to its
high-profile use by US military in Iraq and Afghanistan.
In terms of UAV type, Small, MALE, and
HALE are the three types of UAV. MALE UAV is expected to remain the largest
segment by value due to acceptability of MALE UAVs in most of the operations. It
can fulfill the need of long endurance operations at lower cost.
North America is
expected to remain the largest market due to the high procurement of UAVs by US government. APAC and
ROW are expected to witness highest CAGR with 11.6% and 12.4% respectively,
over the forecast period due to increasing defense budget of developing
economies and indigenous development of UAV.
For market expansion, the report suggests
innovation and new product development, where the unique features of UAV can
be capitalized. The report further suggests the development of partnerships
with customers to create win-win situations and the development of performance-driven
solutions for end users.
Emerging trends, which have a direct impact on
the dynamics of the industry, include increasing penetration of unmanned combat
aerial vehicle, increasing demand of multifunctional UAV and large size UAV.
Northrop Grumman, General Atomics, Boeing Insitu, Lockheed Martin, AAI
Corporation, and Israel Aerospace Industries are among the major manufacturers
of UAV.
Lucintel,
a leading global
strategic consulting and market research firm, has analyzed the global
UAV industry by UAV type, application
type, and region and has come up with a comprehensive research report, “Growth Opportunities in Global UAV Industry
2015-2020: Trend, Forecast, and Opportunity Analysis.” The
Lucintel report serves as a springboard for growth strategies, as it provides a
comprehensive data and analysis on trends, key drivers, and directions. The
study includes a forecast for the global UAV industry by UAV type, application
type, and region as follows:
By UAV
type (Value $ Million from 2009 to 2020)
·
Small/Mini
UAVs
·
MALE
UAVs
·
HALE
UAVs
By application
type (Value $ Million from 2009 to 2020)
·
Civil
application
·
Military
application
By region (Value $ Million from 2009
to 2020)
·
North
America
·
Europe
·
Asia
Pacific
·
Rest
of the World
This
112-page research report will enable you to make confident business decisions
in this globally competitive marketplace. For a detailed table of contents,
contact Lucintel at +1-972-636-5056 or click on this link http://www.lucintel.com/reports/aerospace_defense/growth_opportunities_in_global_uav_industry_2015_2020_trend_forecast_and_opportunity_analysis_october_2015.aspx or
helpdesk@lucintel.com.
About
Lucintel
Lucintel,
the premier global management consulting and market research firm, creates
winning strategies for growth. It offers market assessments, competitive
analysis, opportunity analysis, growth consulting, M&A, and due diligence services to executives and key decision-makers
in a variety of industries. For further information, visit www.lucintel.com.
This report answers
following 11 key questions:
Q. 1 How big the opportunities for Global UAV
Industry by type, application and region?
Q. 2. Which product /segments will grow at a
faster pace and why?
Q. 3. Which
region will grow at a faster pace and why?
Q.4 What are the key factors affecting market
dynamics? What are the drivers and challenges of the market?
Q.5. What are the
business risks and threats of this market?
Q.6 What are the emerging
trends in this market and reasons behind them?
Q.7 What are some changing demands of customers
in the market?
Q.8 What are the new developments in the
market? Which companies are leading these developments?
Q.9 Who are the major players in this market?
What strategic initiatives are taken by key players for business growth?
Q.10 How is the competitive rivalry and threat of
substitution in this market?
Q.11. What are the
recent M&A activities in the last 1-2 years in this market? What reasons
can be attributed to these activities and how have they impacted the industry?
