Published on : May 19, 2016
The global market for unmanned aerial vehicles (UAVs) has been witnessing rising demand owing to the effectiveness of UAVs in combat situation, integration of new technologies, and the increasing demand for UAVs in non-defense applications. Additionally, the low risk of using UAVs and the latest innovations enabling the devices to perform complex tasks with minimal human interventions are also boosting the global market for UAVs.
Rising Demand from Emerging Economies to Boost Market
Unmanned aerial vehicles are increasingly used in combat operations hence their demand is very high in Asia Pacific, North America, and the Middle East. However, regions such as North America and Europe, which are considered lucrative markets for UAVs, have reduced the budget allocated to the defense sector. This will hamper the expansion of the UAV market in North America and Europe.
Lack of Skilled Pilots and Stringent Regulations May Hamper Market’s Growth
The global UAVs market also faces challenge from the lack of trained pilots and the stringent airspace regulations. Nevertheless, the increasing investment in research and development aimed at enhancing the operational efficiency of UAVs and provide complete autonomy will boost global unmanned aerial vehicles market in the coming years. The market is also expected to gain from the increasing investment encouraging UAV production. Such factors have also resulted in the rising adoption of autonomous control systems.
Key Applications of Unmanned Aerial Vehicles
The global unmanned aerial vehicles market can be segmented based on application, payload, regions, and class. The rising incidence of war-like situations and border conflicts and threat from rising terrorism are expected to give impetus to the global UAV market for armed forces. Also the increasing use of UAVs for defense, homeland security, and commercial purposes are expected to fuel demand from the global UAVs market. The most important applications of UAVs include disaster response, reconstruction, rescue operations, and reconnaissance during crises. The commercial applications of unmanned aerial vehicles include agricultural surveying, wild life research and survey, and mapping.
Some of the most prominent companies operating in the market include , Boeing, AeroVironment, General Atomics Aeronautical Systems, Parrot, Turkish Aerospace Industries, and others