London, UK (PRWEB) February 09, 2015
Military spending cuts across the world’s major spending nations such as the USA, Germany, the UK and France, among others, have resulted in the cancellation and continuous delays of different unmanned aerial vehicle (UAV) projects. This trend has an adverse impact on the development of the overall UAV industry. In 2010, for instance, the US army put off the upgrade of its Shadow RQ-7B aircraft with a view of cutting costs. High accident rates for drones on the back of system failure or poor weather conditions also restrain the UAV deployment for a variety of battle missions. The world UAV market is poised to see growth at a 5.66% CAGR through to 2025, led by North America and Europe. The sector is set to be driven by the rising threat of asymmetric warfare and the surging need for situational awareness, ISR missions, complex solutions and interoperability amid military strategists.
The worldwide UAV industry is highly fragmented owing to the presence of scores of entrenched manufacturers and a good deal of small and medium-sized (SMEs) enterprises. However, a lot of these established players acquire small-sized UAV manufacturers having niche capabilities to improve their individual technological capabilities and boost their product portfolios. For example, as of 2013, Selex Galileo acquired the Italian technology company UTRI (Unmanned Technology Research Institute).
In-demand report “The Global UAV Market 2015-2025” elaborated by Strategic Defence Intelligence (SDI) has been recently published at MarketPublishers.com.