Unmanned Aerial Vehicle (UAV) Market to Reach US$ 114.7 Billion by 2023
Dallas, Tex., February 13, 2014-- A new report titled "Global Unmanned Aerial Vehicle (UAV) Market (2013 - 2018)" says the global UAV market size can be expected to grow to US$ 114.7 Billion by 2023. North America constitutes the majority share in the global UAV market and demand for UAVs in the US will spur the North American UAV market. Europe is set to spend US$24.3 billion on UAVs across the forecast period and UAV market is expected to grow at a CAGR of 8.66% in the Asia-Pacific region.
The HALE/MALE/SUAV market has the highest business potential throughout the study period while the US market will be the leading revenue generator, among the countries manufacturing UAV's. SPUAV (Solar Powered Unmanned Aerial Vehicle) will be one of the major technological advances in the near future and General Atomics Aeronautical Sytems is the leader in UAV market with 18.78% of the market share.
Regional unrest will trigger UAV demand in the Middle East during the forecast period, Brazil is set to dominate the UAV market in Latin America and African markets are expected to grow as western defense manufacturers target the region. Highlights of the report include:
- HALE UAVs forecast to constitute the largest share of the UAV market
- Market for UCAVs expected to increase at a CAGR of 7.98% during the forecast period
- Need for real-time persistent surveillance to drive the MALE UAV market during the forecast period
- Demand for TUAVs to grow at a CAGR of 1.81% during the forecast period
- Market size of VTOL UAVs is estimated to be US$5.2 billion< during the forecast period
- Market for MUAVs expected to reach US$390.0 million by 2023
"The Global UAV Market 2013-2023" research report provides detailed analysis of the current industry size and growth expectations from 2013 to 2023, including highlights of key growth stimulators. It also benchmarks the industry against key global markets and provides detailed understanding of emerging opportunities in specific areas. UAVs have proved to be exceedingly useful during peacekeeping missions and the ongoing global war on terror in Afghanistan and Pakistan, finding applications across ISR and combat roles. Furthermore, enhanced capabilities in areas such as endurance, data processing, and communications have broadened ISR UAV use in both defense and intelligence roles. It is anticipated that 4,000 different unmanned aircraft platforms are in circulation on the global market.
Competitive landscape and strategic insights in this report are provided for companies like Israel Aerospace Industries, EMT Ingenieurgesellschaft, Selex ES, Alenia Aermacchi, AAI Corporation, Sagem, BlueBird Aero Systems, Singapore Technologies Aerospace, Cassidian, Boeing, General Atomics Aeronautical Systems Inc., AeroVironment¸ Aeronautics Ltd., Elbit Systems Ltd., Northrop Grumman Corporation, Dassault Aviation SA, Denel Dynamics, Korea Aerospace Industries, BAE Systems and Saab.
Comprehensive Table of Contents and more for this report is available at http://www.reportsnreports.com/reports/266211-the-global-uav-market-2013-2023.html .
Other reports available on the UAV market:
The Global UAV Market 2013-2023 - Country Analysis: Market Profile .
The Global UAV Market 2013-2023 - Competitive Landscape and Strategic Insights: Market Profile .
Global Unmanned Aerial Vehicle (UAV) Market 2012-2016 .
Explore more reports on the public sector industry and related segments at http://www.reportsnreports.com/market-research/government/ .
