Military Unmanned Aircraft Systems Market to Grow at a Robust CAGR of 24.96% Between 2019-2024
Posted: Apr 30, 2020
The Global Military unmanned aircraft systems Market analyzed by BIS Research is expected to show healthy growth. The military unmanned aircraft systems market is anticipated to grow at a robust CAGR of 24.96% on the basis of capacity during the forecast period from 2019 to 2024. The demand for unmanned aircraft systems have massively grown. Growing investments in the development of next-generation UAV technology gave rise for the adoption of military Unmanned Aircraft Systems (UAS).
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Unmanned Aerial Vehicles (UAVs) are used for combat operations, remote sensing, battle damage management, and search and rescue, among others. The U.S., China, India, and Turkey, among others, are significantly developing UAS technology to enhance their warfare capabilities as UAVs provide better efficiency, long-endurance, remote operations without endangering human life, and precision targeting, among others. The various applications of UAVs in the defense industry, such as gathering intelligence, surveillance of hostile environments, and reconnaissance, have made them a huge asset in the battlefield. Various companies are continuously researching and developing next-generation UAV technology to make them more efficient, reliable, and autonomous for military applications.
UAVs are being used globally by military forces across the world. UAVs have become pivotal forms of arsenal in all military forces due to their enhanced capabilities. It is being observed that military budgets for UAVs are growing due to advancements in UAV technologies.
The strategies adopted by the key players in the global military unmanned aircraft systems market to gain a significant market share in the growing industry of military UAVs have been varying from product launches to acquisitions to partnerships over time. The key developments and strategies segment provides comprehensive insights into the different market development activities that are currently being conducted by various key players in the industry to compete with each other directly. A company can lead the market and gain overall growth by adopting several strategies, such as introducing innovative products from time to time, improving the framework of its existing products, collaborating with other market leaders, and acquiring relatively weaker companies into its domain.
UAVs are classified as Remotely Piloted Vehicles (RPVs) and automated drones based on their mode of operations. Unmanned aerial vehicles were first used during World War I, where both the U.S. and France were working on the development of automatic aircraft. Moreover, the need for the development of unmanned aerial vehicles is perceived during World War II due to huge losses that occurred by the reconnaissance aircraft. Although the adoption of UAVs took a long time as the technology was under research for a long time. However, unmanned aerial vehicles were first seen during 1973 during the Vietnam War for reconnaissance operation.
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Moreover, other countries also started exploring UAV technologies. Over the years, UAVs are becoming more advanced with enhanced endurance and range. Since the 9/11 attacks, the U.S. has significantly increased the usage of UAVs primarily for an inspection operation. However, there is a controversy as well, especially when the UAV operation results in civilian deaths. In the modern world, drones have a significant usage primarily for defense applications. Drones are used primarily for applications such as Intelligent, Surveillance, and Reconnaissance (ISR), Target Acquisition, battle damage management, search and rescue missions, combat operations, and delivery & transportation, amongKey Questions Answered in this Report:
- Why should an investor consider venturing into the military unmanned aircraft systems market, and what are the future growth opportunities?
- For a new company looking to enter into the market, which areas could it focus upon to stay ahead of the competition?
- How do the existing market players function to improve their market positioning?
- Which companies have been actively involved in innovation through patent applications, and which products have witnessed maximum patent applications during the period 2010-2019?
- Which product and technology segment is expected to witness the maximum demand growth in the military unmanned aircraft systems market during 2019-2024 and how is their growth pattern across different regions and countries?
- Which are the key application areas in the military unmanned aircraft systems market?
About BIS Research:
BIS Research is a global B2B market intelligence and advisory firm focusing on those emerging technological trends which are likely to disrupt the dynamics of the market.
With over 150 market research reports published annually, BIS Research focuses on high technology verticals such as 3D Printing, Advanced Materials and Chemicals, Aerospace and Defense, Automotive, Healthcare, Electronics and Semiconductors, Robotics and UAV, and other emerging technologies.
Our in-depth market intelligence reports focus on the market estimations, technology analysis, emerging high-growth applications, deeply segmented granular country-level market data, and other important market parameters useful in the strategic decision-making for senior management.
What distinguishes BIS Research from the rest of the players is that we don't simply provide data but also complement it with valuable insights and actionable inputs for the success of our clients.
Bis Research is a global B2B market intelligence and advisory firm focusing on those emerging technological trends which are likely to disrupt the dynamics of the market.