Propulsion Systems Market: Global Industry Analysis, Size, Share, Growth, Trends, and Forecasts 2016–2024
Sarasota, FL -- (SBWIRE) -- 09/26/2017 -- Propulsion Systems Market: Overview
The UAV technology has become one of the requisite constituents which include a country's military assignment these days. There is an augmented need for noise decrease UAVs among military forces in to carry out inspection missions. Therefore, an effectual propulsion system is needed so as to meet this exacting requirement. The UAV propulsion system market has an enormous expansion potential owing to a rush in the requirement of UAVs from military applications and commercial.
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Propulsion Systems Market: Growth Factors
The propulsion system market is witnessing a dynamic development rate over few years due to a growing requirement of UAV practice in various applications. This high scale of development of the UAV industry is consequently persuading the propulsion system industry, in which new programs are being practiced to develop advanced fuel competent engines, to surmount altitudinal disputes, and beginning of 3D printing in UAV engines are among others. An imminent requirement of UAVs for surveillance, demand for spare parts and attack purposes, among others are some of the most important reasons which are driving propulsion systems market. Additionally, with benefits offered by UAVs over manned aircraft that offers rise for the propulsion systems market to increase a prospect to develop further. UAVs are mounted with various types of engines in harmony to the vital power to execute a variety of operations.
Propulsion Systems Market: Segmentation
Based on application, the propulsion systems market is divided into civil or commercial UAVs.
Military UAVs: The capability of these UAVs to support in ISR missions, aerial inspection, and strategic operations will result in its increased adoption during the estimated time. Different factors such as its high rate of achievement, the continuing increase in technological potential, and the growing utilization of UAVs against the war on terror campaign will promote growth in this market segment.
Based on type, the global market is divided into MALE UAV, tactical UAV, HALE UAV, and Mini and Micro UAV.
The medium-altitude long endurance (MALE) UAV segment controls the global market. The capability of these UAVs to fly at an altitude of around 25,000 feet for extensive durations of time will lead to its increased utilization in the coming years.
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Propulsion Systems Market: Regional Analysis
Geographically, the Americas will be the major market for propulsion systems in the coming years. This region at present retains its hold in the coming years, due to the increase in demand for UAVs from the US army. The existence of main UAV manufacturers such as Aurora Flight Sciences, Lockheed Martin, Northrop Grumman, General Atomics, and AeroVironment, in the US region, is another aspect that will promote market development in the Americas in the coming years.
Propulsion Systems Market: Competitive players
The key market players of propulsion systems market are General Electric Company, United Technologies Corporation, Rolls-Royce Holdings plc., Honeywell International Inc., and Aerojet Rocketdyne Holdings, Inc.
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