Pune, India — 02/02/2018 — Market Highlights:
UAV is an aircraft controlled remotely either by a pilot at a ground station or by on-board computers. . Payloads are one of the major components in the UAVs. These payloads are mounted below the UAVs and consist of various equipment depending on the mission requirement. UAVs are being largely utilized in military, civil and commercial market owing to its low cost.
UAVs are increasingly being used in civil, commercial and military market owing to its low-cost. Military forces majorly utilize UAVs to execute missions that were considered unsafe with manned aircraft. They are widely used by the military forces across the world for intelligence, surveillance and reconnaissance missions. Commercial users utilize UAVs in wild life research, photography, and oil and gas industries. The agriculture industry uses UAVs to help farmers complete their work in given time. These factors drive the market during the forecast period.
UAVs are not able to transmit or receive signals. This drawback increases the chances of collision with commercial flights. In the event of a crash, these vehicles pose huge threat to person and property. In addition, UAVs are prone to hacking using GPS signals, where the vehicle can be controlled by terrorists or anti-social elements, thereby risking human life.
The advancements in technology have led to introduction of new generation UAVs such as medium-altitude long-endurance (MALE) UAVs, miniature UAVs and others. There is a major shift toward solar powered UAVs as these are capable of flying at higher altitudes and endurance up to 300 hours. UAVs use the stealth technology previously used by manned vehicles, which enables the aircraft go undetected by radars.
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Industry/ Innovation/ Related News:
September 28, 2010:- Northrop Grumman Corporation and Bell Helicopter, a Textron company, have moved a significant step closer to being able to offer military users a vertical unmanned system that can ferry cargo â€“ either internally or externally â€“ over extended distances.
Major Key Players
The other prominent vendor includes Controp Precision Technologies Ltd, Alpha Unmanned Systems, BAE Systems, and Israel Aerospace Industries Ltd.
Emerging markets such as China continuously increase their military budgets YoY. The military expenditure of China military expenditure was valued at $131.57 billion in 2014, which represents an increase of 12.2% from the previous year. In 2011, the region invested $590 million on UAVs and is likely to invest more during the forecast period. This leads to the increase in investments on cost effective UAVs by the military segment.
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The global UAV payload and subsystems market is highly competitive. Vendors compete on the basis of cost, quality, reliability, and aftermarket service. To survive and succeed in such an intensely competitive environment, it is crucial for the vendors to provide cost-effective and high quality services.
Vendors have to focus on global footprint network, in house manufacturing capabilities, product offerings, investment in R&D, and a strong client base, to gain an edge over competitors. Global economic recovery, growth in the aviation sector, orders for new unmanned aircraft, increased R&D activities, investments on fuel efficient engines, and lucrative retrofit market will provide growth opportunities for players in the industry.
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