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Global UCAV Market: Growing Demand from North America to Drive Growth

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Published on : Apr 21, 2016

ALBANY, New York, April 21, 2016 – A recent research report added to the collection of ResearchMoz.us offers an insightful study on the global unmanned combat aerial vehicles (UCAV) market. The report, titled “UCAV- Market Outlook, Demand Drivers and Advanced Weapon Technologies,” provides an overview of the global UCAV market and projects the size and valuation of the market in the near future. The report points out the key factors impacting the growth of the market as well as the current trends and developments that are defining the future outlook of the market. The UCAV market’s across some of the key regions has been studied. 

Unmanned combat aerial vehicles, better known as UCAVs, are remote-controlled drones armed with explosives, missiles, and forearms. They are widely used to attack targets during planned air combats. It is widely recognized that the next generation of combat air systems will be partly composed of aircraft without pilots on board. UCAVs are highly effective and can be operated across hostile territory. It is a complex machine and is quite different from the present generation of uninhabited air vehicles (UAVs) and remotely piloted vehicles (RPVs). 

Comparing UCAVs and manned fighter jets, the report projects UCAVs to attain a majority share in the defense industry in the next five years. On an average, UCAVs are anticipated to acquire a 13.5% share among aerial combat vehicles over the next two years. Armed intelligence, surveillance, and reconnaissance (ISR) UCAVs are expected to attract the largest amount of investment in the near future.

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The report points out that the ability of UCAVs to operate in complex and high-risk target environments, along with reconnaissance and intelligent gathering capabilities, will drive the growth of the global UCAV market, in spite of anticipated defense budget cuts. Technological advancements are expected to further boost the growth of the market. However, UCAVs are unable to deal with ambiguity as compared to manned aircraft and this is one of the key factors restraining the market.

The report is particularly helpful for organizations to make effective business strategies by understanding the future outlook of the global UCAV market and the projected change in funding for UCAVs as compared to manned flights in the next five years. The report offers information about the demand for UCAV in the near future amid anticipated defense budget cuts and the scope for technological advancements. 

The report further helps understand investment allocation in the market by analyzing the key potential regions such as Asia Pacific, North America, and Europe, and projects regional investments as highlighted by survey correspondents. Investment allocation towards the UCAV industry is expected to be the highest in North America, with an increased demand from medium-sized companies as compared to small and large companies. The U.S. will be the key nation in North America driving the demand from the regional UCAV market. The U.K. and China will be the key markets for UCAVs in the near future.

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