Global UAV market to be driven by global turmoil, territorial unrest, new study saysNews
October 28, 2021
LONDON. The global military unmanned aerial vehicle (UAV) market is valued at $8.0 billion in 2021, according to a new study by GlobalData, "Global Military Unmanned Aerial Vehicle (UAV) Market to 2031."
According to the study authors, growth in the UAV market will be driven over the next decade by a number of factors, including ongoing global turmoil, internal and external security threats, fleet-replacement programs, modernization strategies, and territorial disputes around the world.
Additionally, the study asserts that countries in North America and Western Europe are expected to increase their defense outlays after years of budget cuts and sequestration measures, presenting global military aircraft manufacturers with greater opportunities in the coming decade.
In terms of segment, the study predicts that the unmanned combat aerial vehicle (UCAV) market sector will account for the largest share of expenditure globally, followed by the medium-altitude long-endurance (MALE) UAV segment.
For additional information on this study, visit the GlobalData website.