UAV Payload and Subsystems Market to Grow at a CAGR of 8% to 2019

Technavio’s market research analysts predict the global UAV payload and subsystems market to grow at a CAGR of close to 8% during the period 2015-2019. UAVs are increasingly being used in civil, commercial and the military market because of its cost effectiveness.

It is majorly utilized by military forces to enhance the ability to execute missions that are not considered safe. Military forces across the world utilize UAVs to perform intelligence, surveillance, and reconnaissance missions. Commercial users utilize UAVs in wildlife research, photography, and in the oil and gas exploration among others. It is also widely used in agriculture to help farmers in precision farming activities. Its growing utility in many new applications is expected to drive the growth of the market during the forecast period.

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Segmentation of the UAV payload and subsystems market by payload

• C4I systems      

• Radar  

• Electronic warfare         

• Electro-optic    

• Sonar  

UAVs are being extensively used in military operations that fall within the ambit of electronic warfare. It has led to increased investments in electronic warfare systems. In 2015, the US Navy invested awarded a contract with $2 million to Mercury Defense Systems for providing electronic jammers. This investment will provide the US Navy to reduce the effect of enemy radar systems. In July 2014, the US Army deployed electronic warfare systems on its MQ-1C UAV, following which an increasing worldwide trend of investments in UAVs is being witnessed.

Geographical segmentation of the global UAV payload and subsystems market by payload

• Americas

• APAC

• EMEA

As per the research report, the market projections for Latin America are indicative of investments to the tune of around $270 million in its defense spending by 2022. These developments are expected to boom the demand for UAVs in the forecast period.

Key vendor analysis of the global UAV payload and subsystems market
New unmanned aircraft orders are expected to significantly impact R&D activities of the leading vendors of the global UAV payload and subsystems market. The lucrative retrofit market will also emerge as a key market opportunity for the leading players in this market.

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The top players of the market include: -

• AeroVironment              

• Boeing

• Elbit Systems   

• Lockheed Martin            

• Northrop Grumman

The other prominent vendors of the market are AAI, Alpha Unmanned Systems, BAE Systems, IAI, and Insitu Pacific.

Key questions answered in the report

• What are the key factors driving the UAV payload and subsystems market?

• What are the key market trends impacting the growth of the UAV payload and subsystems market?

• What are the various opportunities and threats faced by the vendors in the UAV payload and subsystems market?

• Trending factors influencing the market shares for EMEA, APAC, and Americas?

• Key outcome of the five forces analysis on the UAV payload and subsystems market?

• Growth forecast of the UAV payload and subsystems market until 2019?

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