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Frost & Sullivan: Europe, APAC to Help Drive Military UAV Demand Through 2022

Frost & Sullivan: Europe, APAC to Help Drive Military UAV Demand Through 2022 - top government contractors - best government contracting event
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droneRevenues of the global military unmanned aerial vehicles market are projected to grow from $3.87 billion last year to $5.26 billion by 2022, according to a report by Frost & Sullivan.

The market analyst said Wednesday that long-endurance UAV systems and advanced propulsion technologies could shape the market’s future growth.

Frost & Sullivan predicts the sector would see a slight decline in revenues in the medium term due to defense cuts in the U.S., but the decrease would be partially offset by the growing UAV adoption in Asia Pacific and Europe.

“The successful deployment of unmanned systems in Iraq and Afghanistan has generated global awareness on UAVs, triggering investments in R&D, and in turn, widening the spectrum of UAV applications,“ said Aman Pannu, aerospace and defense principal consultant at Frost & Sullivan.

Pannu believes that offering UAV equipment rental and leasing services could help manufacturers boost their revenues.

The market analysis covers military drones with a maximum takeoff weight of more than 25 kilograms.

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Written by Mary-Louise Hoffman

is a writer of news summaries about executive-level business activity in the government contracting sector. Her reports for ExecutiveBiz are focused on trends and events that drive the GovCon industry to include commercial technologies that private companies are developing for federal government use. She contributes news content to ExecutiveBiz’s sister sites GovCon Wire and ExecutiveGov.

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