Market outlook of the defense drones market
Technavio research analyst predicts the global defense drones market to grow at a CAGR of 6% during the forecast period. A defense drone or UAV is an airplane without a pilot on board. Human pilots on the ground control these machines through satellite-powered remote controls, or autonomously through onboard computers. These drones are an essential tool for modern defense forces because of their endurance and versatility, which makes them suitable for intelligence gathering and support roles for military operations. Drones can also be engineered to operate autonomously with onboard instruments with different functionalities, which are controlled and directed by instructors or an analyst operating out of a remote location in real time.
The global defense industry is driven by massive investments in R&D, leading to the development of advanced technologies that enhance endurance, survivability, and functions of UAVs or drones. For instance, during 2015, the Ministry of Defense, India, announced its plans to collaborate with Lockheed Martin to develop rotary engine-powered UAVs. The rising competition between countries to possess modern and advanced weapons and technologies in the defense sector is expected to drive the growth of the defense drones market.
Product segmentation and analysis of defense drones market
Large defense drones
Small defense drones
The large defense drones segment dominated the market during 2015, with a market share of 76%. Large drones such as MALE and HALE have long non-stop flight duration capabilities and can carry different payloads that vary from thermal cameras, listening antennas, and guidance lasers to various kinds of munitions. This enables large defense drones to perform tasks such as fire support, target designation, targeted strike missions, and intelligence gathering and surveillance. These advantages have been contributing to the growth of this segment.
Geographical segmentation and analysis of the defense drones market
The Americas accounted for 60% of the global market share during 2015 and is expected to grow at a CAGR of 5% during the forecast period. The increasing deployment of unmanned vehicles in countries such as the US, Brazil, and Latin Americas is driving the growth of the market in this region. For instance, by 2035, the US air force plans to develop and add close to 5,000 new drones.
Competitive landscape and key vendors
The global defense drones market is highly concentrated in countries such as the US and Israel. The vendors in the market compete on the basis of price, quality, innovation, service, reputation, distribution, and promotion.
The leading vendors in the market are -
Israel Aerospace Industries
General Atomics Aeronautical Systems
Other prominent vendors in the market include Textron, Northrop Grumman, AeroVirnonment, and Prox Dynamics.
Key questions answered in the report include
What will the market size and the growth rate be in 2020?
What are the key factors driving the global defense drones market?
What are the key market trends impacting the growth of the defense drones market?
What are the challenges to market growth?
Who are the key vendors in this market space?
What are the market opportunities and threats faced by the vendors in the global defense drones market?
Trending factors influencing the market shares of the Americas, APAC, and EMEA?
What are the key outcomes of the five forces analysis of the defense drones market?
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