Global UAV market forecast to grow 4.08% to 2021 says new market analysis
Reportbuyer.com has added two reports analysing the rapidly growing UAVmarket
Despite the recent defence spending cuts, armed forces persist in spending on unmanned aerial vehicles. UAVs have repeatedly proven themselves inIraqandAfghanistanand their relative low-cost compared to manned platforms makes them highly attractive alternatives in a climate of restrained or even declining defence budgets. The global UAV market is projected to grow at a CAGR of 4.08% during the forecast period (2011-2021) to hit US$10.5 billion in 2021.
According to the report ‘The Global UAV Market 2011-2021’ Demand for UAVs is anticipated to be driven by internal as well external security threats, territorial disputes and modernisation initiatives undertaken by armed forces across the world.
The report ‘The Unmanned Aerial Vehicles (UAV)’ Market states that the global spending on UAVs to hit $7.8bn in 2011. This will vary in the forecast period of 2011-2021, with value remaining high over the forecast period.
Although no defence sector is totally safe from spending cuts, the UAV market has continued to be largely durable against pressures of reduced defence spending. In emerging markets such asChinaandIndia, the development and procurement of UAVs also have strong support.
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