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UAV MARKET WORTH $11.95 BILLION IN NEXT FIVE YEARS

15 Jan 2016
UAV MARKET WORTH $11.95 BILLION IN NEXT FIVE YEARS

Increasing demand in the commercial and military sectors are the factors fuelling the market growth of Unmanned Aerial Vehicle (UAV), commonly called drones. Recently Qualcomm, announced the Snapdragon Flight, a development platform for less expensive drones. The Snapdragon Flight consists of a board based on Snapdragon 801 processor, a quad-core 2.26GHz processor, 4K video processing, dual-band Wi-Fi and Bluetooth connectivity along with other features. "The Qualcomm Snapdragon Flight brings together the technologies that have defined the mobile industry onto a single board, enabling OEMs to build drones that are lighter, smaller, easy to use and affordable with long battery life and superior functionalities," said company’s executive in a statement.

The report Global Unmanned Aerial Vehicle (UAV/Drones) Market Opportunities: Focus on Applications, Components & Region – 2015 to 2020 by BIS Research has identified the rising popularity in commercial and military sectors as the key drivers of UAV market. According to the projections of the research, the annual spending on UAV would soar worldwide by almost 70% totaling $11.95 billion in the next five years, registering a CAGR of 8.41% from 2015 to 2020. Despite the obstructions in expansion of UAVs due to a reduction in defense budgets of the US, France and Germany; the drone's combative role - especially in the US, Middle-East and Asia-Pacific regions has significantly boosted its demand.

The UAV market report has been segmented according to application verticals (military, commercial and agriculture), UAV subsystems (UAV device components & UAV sub-station components) and different geographical regions. It includes a scrupulous evaluation and analysis of the market drivers, restrictive forces, and challenges influencing the UAV market along with, growth opportunities, during the forecast period. The report also includes the market dynamics and technological trends that currently prevail in the industry. For an in depth analysis of the market and assessment of the factors governing it, the report has also incorporated Porter’s Five Forces model along with value chain and supply chain analysis.

The report informs the spirited backdrop with respect to recognition of major market players and their contributing shares in this industry. Deliberate profiling of the major market players along with a complete evaluation of their latest advancements has been included in the report. Some of the key players profiled in the report are Aerovironment Inc., Lockheed Martin Corporation, Textron Inc., General Dynamics Corporation and Northrop Grumman among others. Major geographical regions covered in the report are North America, Europe, Asia Pacific and Rest of the World.

 

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