LONDON, April 20, 2016 /PRNewswire/ -- According to a new market report published by Lucintel, the future of the 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 Unmanned Ariel Vehicle (UAV) 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, military application of UAV is expected to remain the largest 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 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.
Lucintel, a leading global management consulting and market research firm, has analyzed the global UAV market by region, UAV and application types and has come up with a comprehensive research report "Growth Opportunities in Global UAV Industry 2015-2020: Trend, Forecast, and Opportunity Analysis." This report provides an analysis of the market including analysis of market trends, competitive landscapes, company profiles, emerging trends, and key drivers of industry growth. The study also includes the global UAV market forecasts through 2019, segmented by regions and markets 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
- Asia Pacific
- Rest of the World
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?
Some of the features of "Growth Opportunities in Global UAV Industry 2015-2020: Trend, Forecast, and Opportunity Analysis" include:
- Market size estimates: Growth opportunities in global UAV Industry size estimation in terms of value ($ Mil) shipment.
- Trend and forecast analysis: Global UAV Industry trend (2009-2014) and forecast (2015-2020) by region and segment.
- Segmentation analysis: Global UAV industry size by various UAV types such as Small /Mini UAV, MALE and HALE and by applications such as civil applications and military applications in terms of value shipment.
- Regional analysis: Global UAV Industry breakdown by key regions such as North America, Europe, Asia Pacific, and Rest of World.
- Growth opportunities: Analysis on growth opportunities in different applications and regions.
- Strategic analysis: This includes M&A, new product development, competitive landscape, and expansion strategies of global UAV suppliers.
- Emerging applications: Emerging applications of UAV in various markets.
- Analysis of competitive intensity of the industry based on Porter's Five Forces model.
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