A new Strategic Defense Intelligence report projects the global unmanned aerial vehicle market's compound annual growth rate at 5.66 percent from 2015 through 2025, with autonomous combat vehicles to dominate the market.
The report predicts North America and Europe to account for more than 67 percent of the UAV market over the next 10 years, ReportsnReports said Wednesday.
SDI attributes the projected market growth to the rise of asymmetric warfare and the increasing demand for intelligence, surveillance and reconnaissance missions from military clients.
High rates of UAV accidents resulting from unfavorable weather conditions or system failure slow down the deployment of autonomous vehicles in critical operations, according to SDI.
The report provides an analysis of global industry values, market demands, challenges, restraints and trends between 2015 and 2025, and profiles market players, including Israel Aerospace Industries, Selex ES, Alenia Aermacchi, Boeing, General Atomics Aeronautical Systems, Elbit Systems, Northrop Grumman, Denel Dynamics, Korea Aerospace Industries, BAE Systems and Saab.