By Kalwinder Kaur
Research and Markets has released Frost & Sullivan's new report titled ‘Military Unmanned Aerial Systems Market Assessment’, which provides a complete overview of the market. It investigates the present status of the market and provides insights into potential opportunities.
Drones or Unmanned aerial vehicles (UAVs) have a history of proven efficiency in latest conflicts. Drones possess inherent benefits over manned platforms, thereby promoting the market for military drones. Decrease in military spending by the U.S., in spite of the high expenditure on UAVs, has raised concerns among industry stakeholders.
Research analyst states that the U.S. will spend less on UAS. Despite its intention to promote its inventory by over 35% in the next decade, the country’s market revenues will deteriorate until 2020. Concurrently, the Europe will experience powerful competition in the medium-altitude, long-endurance (MALE) UAV segment. In spite of the limited capability of MALE equipment, the high altitude, long-endurance (HALE) UAVs are considered to be expensive. However, an equipment having capability between MALE and HALE will have high future potential.
With the operations in Afghanistan coming to an end, governments will show less interest for renewing lease agreements, thereby will affect UAV leasing firms. But over the years, this limitation will turn out into a driver, as low economy countries would allocate resources to purchase the equipment. Within the UAS market, the U.S. will represent decreased reduction in spending, which will be counterbalanced by the growth in the Asian and European markets.
The military UAV market in Asia and Europe will represent increase in growth over the next decade. The UAV manufacturers and suppliers can discover opportunities in such emerging markets during this period.