DUBLIN, March 3, 2016 /PRNewswire/ --
The global defense drones market is forecast to grow at a CAGR of 6%, according to a report published on Research and Markets. The market is driven by massive investments in R&D, leading to the development of advanced technologies that enhance endurance, survivability and functions of UAVs or drones. U.K. Prime Minister David Cameron and French President Francois Hollande are expected to unveil a $2.1 billion cooperative drone project when the two leaders meet in Amiens on Thursday.
Britain and France will contribute £750 million each to build the "most advanced vehicle of its kind in Europe." Reports suggest BAE Systems Plc, Rolls-Royce Holdings Plc and Dassault Aviation SA are among companies expected to benefit from the project.
A recent report on the global UAV market had highlighted a growing demand for small UAVs for civil and commercial applications. But noted that these small UAVs are primarily used for military and defense applications. It forecast the global UAV market to grow at a rate of 10.16% by 2020.
A similar report on the small drones market projected the market value to grow from $5.80 Billion in 2015 to $10.04 Billion by 2020, at a CAGR of 11.6%. It says factors such as a rising need for advanced, efficient, and reliable small drones, and a need to minimize human intervention in combat and other risky military operations was driving this growth.
The meeting between David Cameron and Francois Hollande will also include foreign, home and defense ministers from both nations. The two countries are expected to use the meeting to discuss security cooperation and the battle against terrorism.
About Research and Markets
Research and Markets is the world's leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends.
Research and Markets
Laura Wood, Senior Manager
For E.S.T Office Hours Call +1-917-300-0470
For U.S./CAN Toll Free Call +1-800-526-8630
For GMT Office Hours Call +353-1-416-8900
U.S. Fax: +1-646-607-1907
Fax (outside U.S.): +353-1-481-1716
SOURCE Research and Markets