Global UAV Payload and Subsystem Market to reach USD 19.2 billion by 2027.Global UAV Payload and Subsystem Market is valued approximately at USD 8.7 billion in 2020 and is anticipated to grow with a healthy growth rate of more than 12% over the forecast period 2021-2027. Unmanned aerial vehicles (UAVs), often known as remotely operated aircraft, its do not require a pilot and may be controlled remotely or autonomously. It is a crucial component of an unmanned aerial system. They can transport payloads for a specific flying mission. After the payload has been chosen, the payload subsystem can play a variety of functions, depending on the payload type. Unmanned aerial vehicles (UAVs) have a broad range of uses due to technological improvements, including extremely advanced UAVs created for military objectives, commercial UAVs used for cinematography, surveying, and inspection. The market growth is driven by the Rise of Military Force to Profit UAV Payload and Increasing popularity of the Hummingbird UAVs. Furthermore, Defense and commercial operators in numerous nations have been investing in developing and acquiring small drones with increased imaging capabilities due to the tactical advantages. In January 2017, the French DGA presented Thales Group a contract of around USD 109 million for the acquisition of 105 Spy' Rangers drones. In the same month, the DGA granted AeroVironment a USD 6.32 million contract to procure small drones. The DGA also got the first five of Novadem's 27 NX70 micro-UAV systems in June 2019. However, Increase in the risk of collision in case of domestic flights, may impede market growth over the forecast period of 2021-2027.
North America is leading the Market shares in terms of revenue in UAV payload and subsystem factors supporting towards are Rise in military expenditure on surveillance and security operations and investment in R&D, and a strong client base in the region are attributed to the further growth of the market.
Major market player included in this report are:
FLIR Systems Inc.
AeroVironment Inc.
Northrop Grumman Corporation
Lockheed Martin Corporation
L3Harris Technologies Inc.
Elbit Systems Ltd
SZ DJI Technology Co. Ltd
Textron Inc.
BAE Systems PLC
IAI Group
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
By Payload:
Sensors
Weaponry
Radar and Communications
Other Payloads
By Region:
North America
U.S.
Canada
Europe
UK
Germany
France
Spain
Italy
ROE
Asia Pacific
China
India
Japan
Australia
South Korea
RoAPAC
Latin America
Brazil
Mexico
Rest of the World
Furthermore, years considered for the study are as follows:
Historical year - 2018, 2019
Base year - 2020
Forecast period - 2021 to 2027.
Target Audience of the Global UAV Payload and Subsystem Market in Market Study:
Key Consulting Companies & Advisors
Large, medium-sized, and small enterprises
Venture capitalists
Value-Added Resellers (VARs)
Third-party knowledge providers
Investment bankers
Investors
