Report: the global UAV industry will grow rapidly in the coming decade

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According to a recent report on the global unmanned aerial vehicles (UAV) industry, North America and Europe will emerge as the largest UAV regional markets. They will have a cumulative market share of over 67 percent. In addition, the UCAV (Unmanned Combat Aerial Vehicle) segment will dominate the global UAV market with an overall share of 34 percent. The trends which will drive the global UAV market include: Asymmetric warfare and the accelerating need for ISR (Intelligence, surveillance and reconnaissance) missions, interoperability, integrated solutions, and situational awareness.

Unmanned aerial systems (UAS) have been providing effective services for many years. However, recent innovation in power, computing, and material technologies are fueling a rapid upward growth in the capabilities of unmanned systems and application development.

According to the Canadian Center for Unmanned Vehicle Systems (CCUVS), the spending on UAVs will nearly double during the next decade. Budgetary allocation is expected to grow from the current level of $5.9 billion to an annual $11.3 billion.

In addition, the annual totals are expected to reach over $94 billion by 2025, according to a study by the Association for Unmanned Vehicle Systems International.

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Overall, the global UAV market is expected to experience an average annual growth rate of over five percent between 2015 and 2025. The report, compiled by Research MOZ, provides a detailed analysis of these drivers along with the market size. It also delivers a snapshot of the spending patterns and updated patterns present in different regions worldwide. The prime restraints and challenges to the global UAV market are also covered in this report.

A detailed evaluation of the shifting preferences of defense ministries around the world is available in the report. In addition, the report elaborates on the trends of the changing global UAV industry structure and several challenges faced by industry participants.

The global UAV report segments the UAV market according to different regions and provides an analysis of the key segment demand in each region. Moreover, a competitive landscape with strategic insights is presented in the report.

In addition, major ongoing programs worldwide within the UAV industry are listed in the report. Tools such as SWOT (Strengths, Weaknesses, Opportunities, Threats) analysis have been used in the report to analyze the industry characteristics by determining the strengths, weakness, opportunities, and threats of the UAV industry. The report also provides insights on various national anticipated CUAV and UAS programs.