The two month postponement of the “fiscal cliff’s” automatic spending cuts, including cuts to America’s defense budget originally proposed by last year’s sequestration deal, may be welcome news for the nation’s military sector. However, while many pundits still believe that defense budget cuts are likely inevitable, certain segments have little cause to worry, as they will remain mostly unaffected by any revisions to the budget, including the UAV sector.
In fact, the global UAV payload market, valued at approximately $43.7 billion at the end of 2012, is estimated to increase to $68.6 billion by 2022, representing a compound annual growth rate of 4.6% during the forecast period. 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), communications relays and combat search and rescue (CSAR). Another major factor which 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 UAV Payload Market 2012-2022
In recent times, UAVs have attracted significant attention for use in both military and homeland security. As the best substitute to the otherwise used manned aircraft for surveillance and reconnaissance missions, UAVs are now attracting significant investment by several countries. Payloads are essential systems in the UAVs which are instrumental in carrying out various missions and the demand for UAV payloads is thus expected to increase proportionally with the UAVs.
Report highlights anticipate growth in market demand and diversity in UAV applications, there is a growing requirement for the future UAV and payload design to combine multi mission, modular, open architecture features, capable of accomplishing diverse missions. In addition, with the drive towards austerity measures in defense budgets in developed countries, the UAVs are expected to be flexible enough for diverse operations than dedicated to a single mission.
This report provides detailed analysis of the current industry size and growth expectations from 2012 to 2022, including highlights of key growth stimulators. It also benchmarks the industry against key global markets and provides detailed understanding of emerging opportunities in specific areas.
An Executive Summary for this report and free sample pages from the full document are available at http://www.giiresearch.com/report/sdi258206-global-uav-payload-market.html