The Global Unmanned Combat Aerial Vehicle Market is estimated to be valued at US$ 12.5 Bn in 2023 and is expected to exhibit a CAGR of 10.00% over the forecast period of 2023–2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
Unmanned combat aerial vehicles, also known as UCAVs, are military UAVs that are projected to replace or supplement manned aircraft in future aerial combat operations. They have various advantages such as reduced risks to pilots and lower operational costs compared to manned aircraft.
Market key trends:
One of the key trends in the unmanned combat aerial vehicle market is the increasing deployment of UCAVs for intelligence missions. These aircrafts are equipped with advanced camera and sensors that allow them to capture high resolution images and videos from long distances without putting human pilots at risk. Many countries are extensively using UCAVs to gather tactical intelligence on enemy positions, map terrains and detect terrorist camps. This trend is expected to fuel market growth over the forecast period.
Here is the Segment Analysis and Key Takeaways section for the given unmanned combat aerial vehicle market report:
Segment Analysis
The global unmanned combat aerial vehicle market is segmented by size, engine type, technology, and end user. Based on size, the market is divided into large, medium, and small UCAVs. The small UCAVs dominated the market in 2022 due to their low production and operational cost as well as ease of deployment. They are mostly used for intelligence, surveillance, target acquisition, and reconnaissance missions.
Key Takeaways
The Global Unmanned Combat Aerial Vehicle Market is expected to witness high growth, exhibiting a CAGR of 10% over the forecast period, due to increasing defense spending globally and rising adoption of UCAVs by defense forces for intelligence gathering and precision strikes.
The market size for 2022 was US$ 12.5 billion. The market is projected to reach US$ 24.3 billion by 2030 as countries increasingly rely on UCAVs to achieve air superiority without risking pilot casualties.
In terms of regions, North America dominated the global market in 2022. However, the Asia Pacific region is expected to register the highest CAGR during the forecast period due to modernization of armed forces by countries such as India, China, and Japan.
Key players operating in the unmanned combat aerial vehicle market are BAE Systems, General Atomics Aeronautical Systems, Boeing, Northrop Grumman, Israel Aerospace Industries, Denel Dynamics, Dassault Aviation, Lockheed Martin, and Elbit Systems. These players are increasingly investing in R&D to develop new and advanced UCAV technologies. They are also focusing on expanding their global footprint through partnerships and collaborations.
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