Global Military UAV Market to Reach $9.9 Billion in 2017

Reading time ( words)

UAVs have gained significant importance in recent years, as they are being extensively deployed in war zones and counter-terrorism operations, especially in South Asia and the Middle East. Furthermore, UAVs can lead the way into higher risk areas by reducing risks for manned aircraft while challenging next-generation air defenses system using stealth technology. Future UAVs will be quite stealthier, faster, and highly advanced equipped for more autonomous and more lethal electronic warfare, and would be able to deploy a large set of mini-UAVs in swarm groups.

Global military UAV market is expected to be valued at US$9.9 Billion in 2017, and will grow at a CAGR of 4.32%, to US$15.2 Billion by 2027. The cumulative market for global expenditure on military UAVs will reach US$133.3 Billion over the forecast period. The demand for UAVs is expected to be driven by internal and external security threats, territorial disputes, and modernization initiatives undertaken by Armed Forces across the world.

Category-wise, UCAVs is anticipated to be the top segment in the global UAV market. The demand for UCAVs is expected to be driven by the need to strike targets whenever detected by the UAV's ISR equipment, thereby providing enhanced lethality for the military. The demand for UCAVs is also driven by innovations that utilize solar energy, thus reducing costs in terms of fuel consumption.

In terms of segments, the military UAV market is split into six segments: UCAV, HALE, MALE, TUAV, VTOL-UAV, and MUAV. UCAVs and HALE UAVs are expected to account for 40.8% and 25.1% of the military UAV market, respectively, followed by MALE UAVs, with a share of 17.4%.

Military UAV market is expected to be led by North America with a share of 34.4% over the forecast period, closely followed by APAC with 31.7%, and Europe at 24.1%. The Middle Eastern market for military UAVs is expected to account for 8%, followed by the Latin American and African markets with a collective share of 1.8%.

About Reportlinker

ReportLinker is an award-winning market research solution. Reportlinker finds and organizes the latest industry data so you get all the market research you need - instantly, in one place.


Suggested Items

Improving Military Communications with Digital Phased-Arrays at Millimeter Wave

01/26/2018 | DARPA
There is increasing interest in making broader use of the millimeter wave frequency band for communications on small mobile platforms where narrow antenna beams from small radiating apertures provide enhanced communication security.

DARPA Program Aims to Extend Lifetime of Quantum Systems

01/19/2018 | DARPA
Whether it is excited electrons emitting photons in a lightbulb or the vibrational frequency of atoms in an atomic clock, quantum phenomena are simultaneously fundamental aspects of nature and the basis of current state-of-the-art and future technologies.

DARPA's Hallmark Seeks to Revolutionize U.S. Space Enterprise Command and Control

01/11/2018 | DARPA
The growing complexity of space operations coupled with an increased need for timely decisions demands innovative approaches to battle management command and control (BMC2) technologies.

Copyright © 2018 I-Connect007. All rights reserved.