‘Global UAV payload market to reach USD 68.6 bn by 2022’

‘Global UAV payload market to reach USD 68.6 bn by 2022’

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US: According to RnR Market Research the global UAV payload market is forecasted to reach USD 68.6 billion by 2022. The global UAV payload market is expected to value USD 43.7 billion by the end of 2012, which is estimated to increase to USD 68.6 billion by 2022, representing a CAGR of 4.6 per cent during the forecast period. Market demand is anticipated to be driven by increased UAV procurement by several countries across the world and continuous requirement formulations in areas such as persistent surveillance, suppression/destruction of enemy air defence (SEAD/DEAD), communications relays and combat search and rescue (CSAR). Another major factor which is expected to drive the market over the forecast period is the increasing incorporation of UAVs in civilian applications such as Homeland Security, disaster management and border surveillance.

‘The Global UAV Payload Market 2012-2022’ provides detailed analysis of the current industry size and growth expectations from 2012 to 2022, 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.

The report provides detailed analysis of the market for UAV payload during 2012-2022, including the factors that influence why countries are investing or cutting defence expenditure. It provides detailed expectations of growth rates and projected total expenditure.

Countries like the US, UK, and Israel, are currently using armed drones. The US used combat UAVs with munitions in numerous missions in Afghanistan to strike suspected terrorists and insurgents. The country has recently doubled its fleet of Reaper combat UAVs in Afghanistan. The UK also performs strike missions with its UAVs in Afghanistan. However, numerous countries are undertaking strategies to equip their fleets with combat UAVs in the future, which is expected to bolster the demand for weaponry payloads.

With the expected growth in market demand and diversity in UAV applications, there is a growing requirement for the future UAV and payload design to combine multi mission, modular, open architecture features, capable of accomplishing diverse missions. In addition, with the drive towards austerity measures in defence budgets in developed countries, the UAVs are expected to be flexible enough for diverse operations than dedicated to a single mission.

Source: PR Web