Global UAV Payload Market is estimated to reach USD 6.34 billion by 2022 due to increasing investment in research and development and technological innovations in Unmanned Aerial Vehicles. UAV payload is the external weight a drone carries, irrespective of its mass. The weight comprises anything attached to the drone like extra sensors and cameras. Apart from the sensors, payloads also include cargo that need to be transported like medicines, meals, parcels and heavy materials (fire extinguishers, etc.). UAVs like remote-controlled airplanes or helicopters are also gaining popularity for recreation& entertainment.
The driving factors for UAV payload market include rising need for mapping services and increased use of aerial imaging services in several industries across globe. Moreover, the acceptance of drone payload components like HD action cameras, thermal sensors, laser sensors, motion sensors, infrared sensors, CBRN sensors have increased substantially in recent years in the defense and military activities for electronic intelligence (Elint), (SIGINT) signal intelligence and surveillance. Drones are also widely being used for green mapping and crop management, which has propelled the demand for payloads in environment and agriculture sectors.
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Growing concerns like personal safety and fluctuations in aviation regulations in stipulated regions are hampering the growth of UAV payload industry. Besides, the market is expected to witness lucrative opportunities due to progressing market for location based facilities. UAV payload market is also strongly driven by increasing demand for UAVs (drones). This can be attributed to invention of newer technologies like next generation of unmanned combat devices and advancement of markets like consumer and civil drones. Despite technological advancements, UAV market is witnessing major challenges in terms of (SWaP) size, weight, and power. Hence, high performing components installed in UAVs, need hardware platform to overcome these challenges.
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UAV payload industry is categorized on the basis of components and geography. On the basis of components, the market is divided into radar & communications, weaponry, cameras & sensors, and others. Weaponry segment is predicted to grow considerably in the forecast period owing to rising adoption of UAVs in defense and military activities worldwide. Other payload devices are expected to experience steady growth rate in the coming years.
Geographically, UAV Payload market is segmented as North America, Europe, Asia Pacific and Middle East & Africa. North America (United States) spends heavily in UAV payload industry with significant expenditure for improving radar and communication abilities. Asia Pacific and Europe are also expected to dominate due to the rising investments in weaponry payloads and sensors & detection.
The prominent players in UAV payload industry comprise AeroVironment, Lockheed Martin, Northrop Grumman, L-3 WESCAM, Rheinmetall, Thales, SAAB, General Dynamics, FLIR Systems, BAE Systems, Elbit Systems, Denel Dynamics, General Atomics Aeronautical Systems, Inc.(GA-ASI), Israel Aerospace Industries (IAI), and AAI Corporation.
Global UAV Payload and Subsystems Market Information, by Payload (C4I, Radar, Electronic Warfare (EW), Electro-optic and Infrared Sensor (EO/IR), and Sonar) Type (MALE UAVs, HALE UAVs, Man-portable UAVs, and others) and Regions - Forecast To 2023.Market Scenario:UAV is an aircraft controlled either by a pilot at a ground station or by on-board computers.
These payloads comprise various equipment, depending on the mission requirement.
They are radar, electro-optic, electronic warfare, C4, and sonar.UAVs are widely used in commercial, civil, and military market due to its low-cost.
The agriculture industry uses UAVs to help farmers complete their work in specific time.
Moreover the advancements in technology have led to introduction of new generation UAVs such as medium-altitude long-endurance (MALE) UAVs, miniature UAVs, and man-portable UAVs.The drawback of not able to transmit or receive signals increases the chances of collision with commercial flights.
Moreover UAVs hacking using GPS signals, where the vehicle can be controlled by terrorists or anti-social elements, thereby risking human life.The introduction of AAS has drastically reduced the number of personnel required for the operation of UAVs.
It provides an insight into the overall structure of the market, its strengths and weaknesses and factors contributing to each.
It makes use of several factors, historic, present and future in order to arrive at accurate estimations when predicting the growth of the market during the forecast period.
The report sheds light on vital factors which are known to have contributed towards the positive growth of the market and also touches bases on the role these factors will play in the future.
While the report discusses factors that positively impact the growth of the Stratospheric UAV Payload Technology Market, the report also includes some vital elemental factors that are expected to restrain the market growth in the years to come.
These market drivers and constraints help identifying pain points in marketing and business strategies of large enterprises as well as small to medium enterprises and enables them to improvise for their benefit.Key Players:Profiles of major market players as well as new entrants along with vital information such as revenue, market share in the global market, product portfolios and strategies undertaken by them in different regional markets, are also included in the report.
The report includes diagnostics sales and market share estimates by product as well as a profile of the company’s diagnostics business.The report, focuses on the global Stratospheric UAV Payload Technology market, and answers some of the most critical questions stakeholders are currently facing across the globe.
