11 Aug, 2012
DUBLIN–(Research & Markets) — TechNavio’s analysts forecast the Global Unmanned Aerial Vehicle market to grow at a CAGR of 4.28 percent over the period 2011-2015. One of the key factors contributing to this market growth is the increasing share of the defense budget. The Global Unmanned Aerial Vehicle market has also been witnessing an increase in joint R&D initiatives. However, rapid technological change could pose a challenge to the growth of this market. (Editor’s Note: UAV’s are what are referred to as drones in the general media).
TechNavio’s report, the Global Unmanned Aerial Vehicle Market 2011-2015, has been prepared based on an in-depth analysis of the market with inputs from industry experts. The report covers the Americas, and the Europe and Middle East regions; it also covers the Global Unmanned Aerial Vehicle market landscape and its growth prospects in the coming years. The report also includes a discussion of the key vendors operating in this market.
Key vendors dominating this market space include AeroVironment Inc., BAE Systems plc, Israel Aerospace Industries Ltd., and The Boeing Co. Other vendors mentioned in the report: AAI Corp., Aeronautics Ltd., Aurora Flight Sciences, Bell Helicopter, CybAero AB, Dassault Group, Elbit Systems Ltd., Embraer SA, General Atomics Aeronautics Systems Inc., Innocon Ltd., Insitu Inc., Kaman Aerospace Corp., Lockheed Martin Corp., Northrop Grumman Corp., Rheinmetall AG, RUAG Group, Schiebel Corp.
Key questions answered in this report:
What will the market size be in 2015 and at what rate will it grow?
What key trends is this market subject to?
What is driving this market?
What are the challenges to market growth?
Who are the key vendors in this market space?
What are the opportunities and threats faced by each of these key vendors?
What are the strengths and weaknesses of each of these key vendors?
Commenting on the report, an analyst from TechNavio’s Automotive team said; “The Global Unmanned Aerial Vehicle (UAV) market is expected to witness increasing demand for advanced UAVs in the near future. Therefore, to increase the capabilities of UAVs, the Global Defense industry is investing extensively in R&D activities, which has resulted in the development of technologies to augment the endurance and survivability of UAVs. As a result of emerging technologies and changing environments, UAV manufacturers are investing in new UAV technologies.”
According to the report, the growth of the Global UAV market is driven by new product launches by various companies competing in the market. For instance, AV introduced the Qube portable UAV for use in public safety applications such as law enforcement and first response. The system targets will provide a portable aerial vantage point to help public safety workers perform their duties more safely and effectively. Furthermore, such new product launches could add value to profitable sales growth in the future.
Further, the report also discusses that one of the main challenges that the UAV vendors face is the rapid evolution of new technology.
The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to a SWOT analysis of the key players.