Albany, NY -- (SBWIRE) -- 07/18/2018 -- Unmanned Aerial Vehicles or UAVs have proved themselves worth their weight in gold in the military. According to the findings of a latest research, the military drone market growth is credited to increasing investments in the drone technology by military and defense departments. To elaborate further, Market Research Hub (MRH) has freshly broadcasted a new study titled "Global Military UAV Market 2018-2028" to its vast database, which deeply analyzes and forecasts the market for military UAV at the global and regional level. The market growth has been forecast based on volume (Tons) and revenue (US$ Mn) from 2018 to 2028. Regions highlighted in the study include Latin America, Europe, North America, Middle East and Africa, Asia-Pacific and RoW.
This 204-page precise report offers a detailed analysis of the industry, with market size forecasts covering the next ten years. The global military UAV market will be driven by internal and external security threats, territorial disputes, and initiatives undertaken by armed forces across the world.
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Key Highlights from the Study
As per the research prime evaluations, The Military UAV Market, valued at US$12.2 billion in 2018, is projected to grow at a CAGR of 4.09% over the forecast period, to reach US$18.1 billion by 2028.
Moreover, the research provides readers a clear and in-depth understanding about the underlying factors driving demand for different military UAV segments in the top spending countries across the world and identify the opportunities offered by each of them. In terms of geography, the study finds that substantial UAV customers include countries in the Asia Pacific and North American region, and the worldwide UAV market will be dominated by the US throughout the forecast period. Further, the report also adds that Asia Pacific share of the global UAV market is also estimated to increase, largely due to a number of international territorial conflicts and insurgency issues.
The market has been further categorized on the basis of types, which include UCAV, MALE UAV, HALE UAV, VTOL-UAV, and MUAV. For each segment, the study covers the analysis of market size and CAGR analysis for the period 2018-2028. At present, UCAVs and HALE UAVs are more in demand by major defense financiers such as the US, Russia, the UK, and China, whereas MALE UAVs and TUAVs are finding growing markets in developing countries such as India, Brazil, and the UAE.
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The final section of the report deals with the competitive landscape targeting the major player's active in this market. The section covers a detailed analysis of the key players covering their major products and services, financial analysis covering revenue, operating profit and net profit; and financial dealings and contracts. This report will also analyze factors that influence demand for military UAV, market trends, and challenges faced by industry contributors.
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