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Global unmanned aerial vehicle payload market: 45% CAGR growth forecast between 2012-49
Global Unmanned Aerial Vehicle Payload Market 2012-2016 - a new market research report on 2014-03-31 00:04:01
The Global Unmanned Aerial Vehicle Payload market is to grow at a CAGR of 4.85 percent over the period 2012-2016. One of the key factors contributing to this market growth is the increase in unmanned aerial vehicle launches. The Global Unmanned Aerial Vehicle Payload market has also been witnessing an increase in R&D. However, the rapid technological changes could pose a challenge to the growth of this market.
The global Defense industry is investing extensively in R&D activities, which has resulted in the development of technologies that can enhance the endurance and survivability of UAVs. As a result of emerging technologies and changing environments, UAV manufacturers are increasing their investment in R&D for the development of new technologically-advanced UAV systems. For instance, there is an increase in the demand for UAVs that require low maintenance and can be used on long-haul routes. Moreover, the demand for solar-powered UAVs has increased as they have better endurance capabilities and low maintenance costs. With the increase in R&D, the demand for the advanced UAVs is also expected to increase.
One of the major growth drivers is the increase in the launch of new UAV systems. UAVs are being increasingly used by various militaries around the globe, and this is resulting in an increase in the launch of new UAV systems, thereby driving the growth of the Global UAV Payload market.
One of the major challenges faced by the vendors is the rapid technological changes taking place in the market. Owing to the rapid technological changes, vendors have to invest more to upgrade their current UAVs. This reduces the profit margins of the vendors.
The key vendors dominating this market space are AeroVironment Inc., Israel Aerospace Industries Ltd., Raytheon Comp., and ImSAR LLC. Other vendors are AAI Corp., BAE Systems PLC, Denel (Pty) Ltd, Lockheed Martin Corp., Northrop Grumman Corp., Rheinmetall AG, Saab AB (publ), and Thales Group
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