Growth Anticipated Despite Downturn In Military Budgets

According to the new market research report "Small UAV Market by Trends (Mini, Micro, Hand Held UAV), by Propulsion (Hydrogen, Electric, Solar, Lithium ION), by Payload (NBC Detection, Telemetry Systems, Software Systems, Meteorology), by Application (Civil, Military, Security), by Region & by Country - Global Forecast to 2014 - 2019", published by MarketsandMarkets, the Small UAV Market is expected to register growth with CAGR (Compound Annual Growth Rate) of 21.70%, and reach $582.2 million by the end of 2019.

The report indicates that due to an ongoing economic downturn, major countries like the U.S. and the U.K. continue to see economic difficulties. The U.S. has witnessed budget cuts in the recent past and it is likely to continue in the near future. The U.S. has announced the budget cut of $178 billion during 2011-2015. Such budget cuts in the U.S. and elsewhere can slow down the defense industry. The UAV market, however, is booming according to the report, and lot of money is being spent on the research and development of small UAVs. An anticipated increase in civil and military applications remains the driving factors for the global Small UAV Market. It also anticipates that changes in technology will ensure significant growth in the market.

The report provides a market analysis of the global small UAV and man portable UAV market over the next six years. It provides detailed analysis of both historic and forecast global industry values, factors influencing demand, the challenges faced by industry participants, analysis of the leading companies in the industry, and key news.

The report also analyzes the market share on the basis of payloads used in UAVs. It provides information about the leading competitors in the global Small UAV Market and apart from a general overview of the companies; it also provides details on their financial positions, key products, their unique selling points and key developments. This research report also segments the market on the basis of products, types, application and geography, country, forecasting revenues, market share and analyzing trends in each of the sub segments.

India, South Korea, China, Germany, France and Australia are the new growth regions, due to their developments in mini and micro UAV segment.

Key players like AeroVironment, SAAB, Israel Aerospace Industries, and Thales Group are the major players for the industry.

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FMI: www.marketsandmarkets.com