Growth Expected From $7 Billion In 2013

According to a new market research report, "Unmanned Aerial Vehicle (UAV) Market (2013 - 2018)", the total global UAV Market (2013-2018) is expected to reach $8.35 billion by 2018 with a compound annual growth rate (CAGR) of 3.30%.

According to the study published by ASD Reports, the United States has by far been the superior force when it comes to deployment of UAV’s in the world, European deployment is rather different than in US with extensive usage of TUAV’s and fewer HALE and MALE systems. SUAV’s has seen a robust growth due to its widespread applications.

Apart from US, the countries which have shown major interest in UAV’s are as follows: Brazil and Argentina in Latin America, UK, France and Germany in Europe, South Africa in Africa, Israel and UAE in Middle East, India, Australia, Japan and South Korea in APAC. Russia, too, has an in-depth UAV program, but their success levels have been limited. In addition to the military market, the market for civilian and commercial unmanned air vehicles is growing. Civilian UAV market refers to UAV’s operated by non-military government.

Civilian usage of UAVs is present in Australia, France, South Africa, Sweden and US. With FAA regulation until 2015, civilian UAV’s market will grow at a slower rate when compared to military and security applications. USA and EU are looking at policies by which they can allow the usage of UAV’s in the national airspaces.

The global UAV Market (2013-2018) revenue is expected to grow from $7.1 billion in 2013 to $8.35 billion by 2018. Global UAV Market (2013-2018) is majorly driven by the growth of demand for Homeland Security. Maritime patrolling and counter privacy is also one of the drivers for this market.

(UAV images from file.)

FMI: www.asdreports.com