According to market research "Small UAV Market by Application (Military, Commercial & Civil, Homeland Security), by Payloads (EO, LiDAR, Laser Designator, Meteorological sensors, Cameras, Telemetry, Autopilot, and NBC detection), by Propulsion System (Hybrid, Hydrogen cell, Solar, Lithium-ion battery), by Geography - Market Forecast and Analysis to 2014 2020" The global SUAV is expected to register growth with CAGR of12.31%, and reach $1.9billion by the end of 2020. Increase in civil and military applications remains the driving factors for the global small UAV market.
Browse more than 70 market data tables with 81 figures spread through 269 pages and in-depth TOC on "Small UAV Market - Market Forecast and Analysis to 2014 2020"
The Small UAV market research report categorizes the global market on the basis of application, payload, propulsion system, and geography for the forecast period from 2013 to 2020. The application segment of SUAV categorizes in to military, commercial & civil, and homeland security applications. The report highlights the market size and the market share for these applications, of which military application contributes maximum share; whereas, commercial & civil application have highest growth rate.
Due to terrorist attacks, the UAV spending across the globe, has gained critical importance. The multi usage of micro and mini UAV’s in various applications also helps the market increase their shares. The U.S., Europe, and Israel are the major players in the small UAV market.
Due to economic downturn, major countries like U.S and the UK are witnessing economic difficulties. The U.S has witnessed budget cuts in the recent past and it is likely to continue in the near future. The U.S. has announced the budget cut of $178 billion during 2011-2015. Any budget cut in these countries could slow down the defense industry. Despite these facts, the SUAV market is booming and lot of money is spent on the research and development of SUAVs.
The unrest in Asian countries due to terrorist attacks and political disputes has increased the SUAV spending. Regions such as North America, Asia-Pacific, and Europe currently hold the largest share of SUAVs. However, the Middle Eastern and African countries have a high potential of growth in this sector.
The penetration rate of military applications in the SUAV market is the highest when compared to the commercial, civil, and homeland security applications. However, the market of SUAV in the commercial and civil application is estimated to overtake the homeland security application’s market by 2020.
India, South Korea, China, Germany, France and Australia are the new growth regions, due to their developments in mini and micro UAV segment.
Key players like AeroVironment, SAAB, Israel Aerospace Industries, and Thales Group are the majorplayers for the industry.
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