According to the new market research report "Small UAV Market by Trends (Mini, Micro, Hand Held UAV), by Propulsion (Hydrogen, Electric, Solar, Lithium ION), by Payload (NBC Detection, Telemetry Systems, Software Systems, Meteorology), by Application (Civil, Military, Security), by Region & by Country - Global Forecast to 2014 - 2019", published by MarketsandMarkets, The Small UAV Market is expected to register growth with CAGR of 21.70%, and reach $582.2 million by the end of 2019.
Browse more than 51 market data tables with 28 figures spread through 147 pages and in-depth TOC on "Small UAV Market "
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This report provides a market analysis of the global small UAV and man portable UAV market over the next six years. It provides detailed analysis of both historic and forecast global industry values, factors influencing demand, the challenges faced by industry participants, analysis of the leading companies in the industry, and key news.
The report also analyzes the market share on the basis of payloads used in UAVs. It provides information about the leading competitors in the global Small UAV Market and apart from a general overview of the companies; it also provides details on their financial positions, key products, their unique selling points and key developments. This research report also segments the market on the basis of products, types, application and geography, country, forecasting revenues, market share and analyzing trends in each of the sub segments.
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Advanced miniature communication and payload systems will remain a priority in the years to come because these significantly help in improving the efficiency of the small UAV systems. The benefits of small UAV are reduced cost, no war fighter risk and non-linear increase in performance.
The global small UAV market is estimated to be $218.1 million by 2014. The market is expected to register a CAGR of 21.70% to reach $582.2 million by 2019.
A SUAV is smaller, consumes less power and produces less noise. The sensors and payloads have to be smaller, due to limitation on payload capacity.
The use of small UAVs for commercial purpose is related to civilian demand, social acceptability and approval from regulatory authority. It greatly helps in reducing carbon dioxide emissions and has great economic impact.
In many nations, the defense spending has been reduced. Despite this fact, the use of UAVs is increasing and a lot of developments are happening in the industry. The major concern for small UAVs is the risk of collision with other aircraft. Once the issue is resolved, the use of drones will increase drastically. The Middle East market will grow drastically for small UAVs in order to keep borders secure.
Due to economic downturn, major countries like U.S. and the U.K. are witnessing economic difficulties. The US has witnessed budget cuts in the recent past and it is likely to continue in the near future. The U.S. has announced the budget cut of US$ 178 billion during 2011-2015. Any budget cut in these countries could slow down the defense industry. Despite these facts, the UAV market is booming and lot of money is spent on the research and development of small UAVs. Increase in civil and military applications remains the driving factors for the global Small UAV Market.
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India, South Korea, China, Germany, France and Australia are the new growth regions, due to their developments in mini and micro UAV segment.
Key players like AeroVironment, SAAB, Israel Aerospace Industries, and Thales Group are the major players for the industry.
Changes in Technology will ensure significant growth in the market.
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