The frequent augmentation of the drone technology has brought about a variety of changes right from reduction in size to the increase in degree of automation in drones, further opening up new avenues for business opportunities. UAVs have emerged as a cost-effective solution for a wide range of commercial applications such as precision agriculture, surveying, aerial photography, and mapping.
The BIS UAV segment tracks emerging technologies, covering UTM, remote ID solutions, BVLOS drones, UAV propulsion, and others. We constantly track the changing market dynamics and identify key opportunity areas to support key players with relevant market information, which helps them in strategic decision-makings.
The demand for sense and avoid systems used in UAVs is rapidly increasing among different applications across the globe. The market is driven by number of factors such as rise in the demand of autonomous drone for beyond visual line of sight operations. The UAVs equipped with sense and avoid systems are increasingly being adopted in commercial as well as non-commercial applications.
The global undersea warfare systems market is expected to reach over $11,393.6 million by 2021. Owing to the rising defense spending to strengthen the country’s military capabilities for encountering any kind of enemy attacks, including the threats from underwater attacks, the global undersea warfare systems market is expected to grow significantly at a CAGR of 6.6% during the forecast period 2017-2021.
The demand for UAVs is swiftly increasing among different end-users across the globe. The market is driven by number of factors such as rise in their demand across commercial and non-commercial end-users, various consumer-centric technological developments and declining prices, among others.The UAV market accounted for a market value of $8.02 billion in 2016 with small UAVs holding the highest share.
The demand for UAV propulsion systems is rapidly gaining pace in the aerospace and defense industry owing to the flourishing level of future demand for unmanned aerial vehicles. The rising demand from defense and commercial applications are the major factors responsible for enhancing the growth of UAV propulsion system market, globally.
In terms of growth, unmanned ground vehicle market is growing with leading players introducing latest products into the market. The major factor influencing the development is increase in operational efficiency and flexibility, reduced human intervention, among others. This will led to the growth of the global unmanned ground vehicle market which it is expected to reach $9.06 billion by 2023.
In terms of revenue generation, the UAV sense and avoid systems market is dominated by North America, with a CAGR of 10.48% in the forecast period and with Europe being the second most revenue generating region.
UAVs are an important part of a country’s military nowadays, owing to their proliferated usage in combat and surveillance applications. Governments across the globe are procuring this technology in order to further strengthen their military powers.
The global Unmanned Aerial Vehicle (UAV) market has witnessed a meteoric growth over the past decade. Military UAVs are considered a key component and an integral part of a country’s defense system. The commercial UAVs have witnessed a huge transformation after the exemptions from Federal Aviation Administration (FAA) regulations. Major companies in the UAV market are targeting customers by introducing new and improved applications.
The market growth of Unmanned Aerial Vehicle (UAV), commonly called drones, is propelled by an increasing demand in the commercial and military sectors. A reduction in the number of associated operational risks, along with innovative solutions, has created an increase in demand for UAVs in performing multifarious operations without extensive human involvement.
Recently, in spite of the growth hindrance, to some extent, of UAVs due to a reduction in defense budgets of the US, France and Germany,