Study Shows North American Spending On UAV Payloads To Grow Despite Defense Cuts | Aero-News Network
Aero-News Network
RSS icon RSS feed
podcast icon MP3 podcast
Subscribe Aero-News e-mail Newsletter Subscribe

Airborne Unlimited -- Most Recent Daily Episodes

Episode Date

Airborne-Monday

Airborne-Tuesday

Airborne-Wednesday Airborne-Thursday

Airborne-Friday

Airborne On YouTube

Airborne-Unlimited-05.13.24

Airborne-NextGen-05.07.24

Airborne-Unlimited-05.08.24 Airborne-FlightTraining-05.09.24

Airborne-Unlimited-05.10.24

Wed, Jan 23, 2013

Study Shows North American Spending On UAV Payloads To Grow Despite Defense Cuts

Market Will Achieve A Cumulative Value Of Over $55 Billion By 2022

The global UAV payload market, valued at $3.9 billion at the end of 2012, is estimated to increase to $6 billion by 2022, representing a Compound Annual Growth Rate (CAGR) of 4.3 percent during the forecast period, according to market research conducted by ASDReports. 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), and communications relays and combat search and rescue (CSAR).

Another major factor that 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 market is expected to achieve a cumulative value of $55.6 billion during the forecast period.
 
Although North America is expected to witness defense budget cuts during the forecast period, the region’s expenditure on UAV payloads is expected to account for a 49% share of global spending during the forecast period. The US constitutes the largest market of the North American region and is taking substantial steps towards enhancing its UAV payload capabilities through a number of programs such as the five year contract awarded to ImSAR for the procurement of miniature Synthetic Aperture Radars suitable for small UAV applications, procurement of 174 STARLite radar systems, the US Air Force’s contract awarded to Raytheon for the supply of Multi Spectral Targeting Systems for UAVs and the integration of SELEX Galileo’s active electronically scanned array (AESA) radars and other sensors in the MQ-9 Reaper UAVs (pictured).

The recent endeavors undertaken by a number of private and public companies in the US, to implement open architecture designs for UAV payloads are also expected to drive the growth of the UAV payload market by allowing customers the flexibility to integrate future payload capabilities into existing systems. The US market is expected to get a further boost with increasing demand from government organizations that require surveillance systems similar to military UAVs such as coast guard, border patrol organizations, and other national security organizations.

FMI: www.asdreports.com

Advertisement

More News

Sierra Space Repositions Dream Chaser for First Mission

With Testing Soon Complete, Launch Preparations Begin in Earnest Sierra Space's Dream Chaser has been put through the wringer at NASA's Glenn Armstrong Test Facility in Ohio, but w>[...]

ANN's Daily Aero-Term (05.10.24): Takeoff Roll

Takeoff Roll The process whereby an aircraft is aligned with the runway centerline and the aircraft is moving with the intent to take off. For helicopters, this pertains to the act>[...]

Aero-News: Quote of the Day (05.10.24)

“We’re proud of the hard work that went into receiving this validation, and it will be a welcome relief to our customers in the European Union. We couldn’t be mor>[...]

Aero-News: Quote of the Day (05.11.24)

"Aircraft Spruce is pleased to announce the acquisition of the parts distribution operations of Wag-Aero. Wag-Aero was founded in the 1960’s by Dick and Bobbie Wagner in the >[...]

ANN's Daily Aero-Term (05.11.24): IDENT Feature

IDENT Feature The special feature in the Air Traffic Control Radar Beacon System (ATCRBS) equipment. It is used to immediately distinguish one displayed beacon target from other be>[...]

blog comments powered by Disqus



Advertisement

Advertisement

Podcasts

Advertisement

© 2007 - 2024 Web Development & Design by Pauli Systems, LC