Published Date : Jul 05, 2016
Albany, NY, July 05, 2016: MarketResearchReports.biz has announced the addition of a new market research study to its growing market intelligence database. The report examines the global military UAV market and presents 2016-2026 forecasts for the market. The 165-page report is titled ‘The Global Military UAV Market 2016 - 2026’ and is available for sale on the official website of MarketResearchReports.biz.
Unmanned aerial vehicles or UAVs are starting to become a crucial part of the global defense industry, thanks to their versatile applicability. Military modernization initiatives being undertaken by several countries around the world have thus emerged as a major driver for the global military UAV market, as UAVs require incorporation of advanced technology in armed forces. According to the report, the global military UAV market was valued at US$8.5 billion in 2016. Exhibiting a steady CAGR of 4.89% from 2016 to 2026, the market is expected to rise to a valuation of US$13.7 billion by 2026.
The increasing number and severity of geopolitical disputes around the world is a major driver for the global military UAV market. The increasing internal security threat from crime and terrorism is also driving the global military UAV market.
Regionally, North America emerged as the largest segment of the global military UAV market in 2015, followed closely by Europe and Asia Pacific. These top three segments of the global military UAV market took up more than 90% of the global market in 2015. The Middle East was the largest among the remainder, with a 4% share in 2015. In the coming years, the top three regional segments are expected to retain their dominance in the global military UAV market on the back of the increasing demand for UAVs from the U.S., China, India, and several EU countries.
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HALE UAVs are likely to remain the largest product segment of the global military UAV market, with the segment accounting for 34% of the global market in 2015. UCAVs (unmanned combat aerial vehicles) are the second largest product segment of the global military UAV market and accounted for 29% for the global market in 2015. Other major product segments of the global military UAV market are MALE UAVs, which were the third product segment of the global market to hold a double-digit market share in 2015 with 19%, TUAVs, MUAVs, and VTOL-UAVs.
The report also examines the major players in the global military UAV market. The product catalog and financial reports of the 18 major companies in the global market are discussed in the report, along with information about the major alliances in the market in the last few years.
The report provides an overview of the spending pattern and modernization efforts being taken by governments in each regional segment. The factors affecting the trajectory of the military UAV market in each region are also elaborated upon in the report. Details regarding the major UAV development programs in each region are given in the report.
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