Small UAV market to hit $1.61 billion this year
NewsJune 12, 2015
LONDON. Analysts at Visiongain released a new study that shows the small unmanned aerial vehicle (UAV) market will hit $1.61 billion in 2015 and only grow over the next ten years, despite regulatory hurdles restricting growth in the short term.
The demand for these platforms will vary from country to country and by design type, according to the Visongain analysts in a report titled "Small Unmanned Aerial Vehicle (UAV) Market Forecast 2015-2025." They say homeland security and military applications are expected to grow, especially as payloads evolve to enable collection of a wide variety of data such as: chemical, biological, radiological and nuclear (CBRN) threats; facial recognition; military ISTAR sensors and others.
“The small UAV market will register high levels of growth over the next ten years, producing year-on-year growth," says James Bingham, the Visiongain analyst responsible for this study. "However, the demand for small UAVs at a global level masks nuances and variance between national markets, as well as by application sector and design type. The forecast success of one design of small UAV can thus vary significantly between national markets, as well as between sectors. This report will provide a comprehensive analysis of every level of the market, as well as the driving factors propelling this dynamic and exciting opportunity for growth. The wide variety of applications in which small UAVs can be deployed is growing every day, as this growth-platform finds new uses. The demand for small UAVs will be significant, with a wide and varied geographical spread. This growth is forecast to vary country-by-country and by design type. Understanding these dynamics – particularly the variations and intricacies the market produces – will be crucial to those seeking to invest in the small UAV market.”
Agricultural spraying, consumer goods delivery, and other applications should also benefit from the proliferation of small UAVs.
Bingham's report has a quantitative and qualitative analysis of the global market, with 14 national markets each broken down by six applications submarkets, as well as by six small UAV design type submarkets providing 168 discrete market segments. It also has interviews with senior sources from Textron Systems and Aeryon Labs Inc.
To download the report, click here.
