Wed, Jan 23, 2013
Market Will Achieve A Cumulative Value Of Over $55 Billion By 2022
The global UAV payload market, valued at $3.9 billion at the end of 2012, is estimated to increase to $6 billion by 2022, representing a Compound Annual Growth Rate (CAGR) of 4.3 percent during the forecast period, according to market research conducted by ASDReports. Market demand is anticipated to be driven by increased UAV procurement by several countries across the world and continuous requirement formulations in areas such as persistent surveillance, suppression/destruction of enemy air defense (SEAD/DEAD), and communications relays and combat search and rescue (CSAR).
Another major factor that is expected to drive the market over the forecast period is the increasing incorporation of UAVs in civilian applications such as Homeland Security, disaster management and border surveillance. The global market is expected to achieve a cumulative value of $55.6 billion during the forecast period.
Although North America is expected to witness defense budget cuts during the forecast period, the region’s expenditure on UAV payloads is expected to account for a 49% share of global spending during the forecast period. The US constitutes the largest market of the North American region and is taking substantial steps towards enhancing its UAV payload capabilities through a number of programs such as the five year contract awarded to ImSAR for the procurement of miniature Synthetic Aperture Radars suitable for small UAV applications, procurement of 174 STARLite radar systems, the US Air Force’s contract awarded to Raytheon for the supply of Multi Spectral Targeting Systems for UAVs and the integration of SELEX Galileo’s active electronically scanned array (AESA) radars and other sensors in the MQ-9 Reaper UAVs (pictured).
The recent endeavors undertaken by a number of private and public companies in the US, to implement open architecture designs for UAV payloads are also expected to drive the growth of the UAV payload market by allowing customers the flexibility to integrate future payload capabilities into existing systems. The US market is expected to get a further boost with increasing demand from government organizations that require surveillance systems similar to military UAVs such as coast guard, border patrol organizations, and other national security organizations.
Also: Bell 505 Update, Mooney Update, UAV Hysteria, AAR Sells Telair, True Blue Power, More UAV Waivers, Flyers Rights The Bombardier CSeries CS300 airliner made its first flight t>[...]
Get Your Wacky Ideas In NOW! ANN E-I-C Note: Folks... we gotta warn you... based on all the nonsense we've had to endure in 2014-2015 (which we are duty-bound to lampoon), this may>[...]
Systems To Be Installed In New Helicopters And Fixed Wing Fleet Becker Avionics has reached an agreement with the California Highway Patrol (CHP) Office of Air Operations, which wi>[...]
Latest Order Valued At $130 Million For Dreamliners Rolls-Royce has been selected by All Nippon Airways (ANA) to provide Trent 1000 engines, worth $130 million, to power three addi>[...]
Klyde Fears FAA's Enforcement Objectives... FMI: www.klydemorris.com>[...]