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Demand in Asia to Incite Growth Despite US Slowdowns
This research service provides an assessment of the global military unmanned aerial vehicles (UAVs). Despite a slowdown, the United States will remain the major market for UAVs. Also, demand from the Asia-Pacific and Europe will partially supplement reduced revenue from the United States. This market analysis focuses on revenue opportunities for new procurements and support-in-service (SIS) revenues for UAVs. In addition, 6 platform types are assessed for the global market and by region, namely: North America, Europe, Latin America, Asia-Pacific, the Middle East, and Africa. The analysis covers market forecasts and trends from the base year, 2013, until 2022.
-The total value of the global military unmanned aerial vehicles (UAVs) market was worth $ billion in 2013 and will reach $ billion by 2022.
-The global market for military UAVs is expected to witness a slight decline during the medium term, which is predominantly due to the reduction in spending by the United States. This reduction in revenues will be partially compensated by demand from Europe and Asia-Pacific (APAC).
-The North American military UAV market will be worth $ billion from 2013 to 2022, which is followed by Asia-Pacific with $billion and Europe at $ billion.
-The Middle East market will be worth $ billion and will register a compound annual growth rate (CAGR) of % from 2013 to 2022.
-The African and Latin American markets will remain modest during the forecast period.
-Medium-altitude, long-endurance (MALE) UAVs remain the most lucrative segment in terms of procurement volumes and revenues. Although high-altitude, long-endurance (HALE) UAVs are on the wish list of many countries, they still remain unaffordable for many nations.
-Demand for tactical and tactical small UAVs will be mostly from countries who are new to adopting UAV capabilities and those that are developing their UAV capabilities.
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