Global MALE & HALE UAV market projected to reach $12.4 billion by 2031News
June 07, 2023
AMSTERDAM, Netherlands. The global market for Medium Altitude Long Endurance (MALE) and High Altitude Long Endurance (HALE) uncrewed aerial vehicles (UAVs) is expected to reach $12.4 billion by 2031, a growth driven by technological advancements and increasing worldwide investment, according to a new report from Market Forecast.
Technological innovations such as advanced avionics, artificial intelligence (AI), machine learning (ML), edge computing, internet of things (IoT), cloud computing, and additive manufacturing are enhancing the capabilities of these platforms, which has led to increased demand, the report states.
The rising procurement levels, new development programs, cost-effectiveness, and safety of human assets are cited as significant factors driving the market for MALE & HALE UAVs. Successful deployment on battlefields has also shown the potential to revolutionize the way militaries operate, further boosting market growth worldwide, the report states.