The global UAV payload market is poised for high growth over the period owing to the dynamic applicability of drones in several sectors. Technological proliferation increased government spending on military drone operations, and increasing applications for commercial drones across various industry verticals are expected to drive the global demand. Payloads are a part of larger drone system and depend on the application segment of the UAV system. UAV payload comprises sensors, cameras, gimbal controllers, communications systems, and weaponry. Applications of such UAVs in energy, agriculture, retail, and media and entertainment sectors along with firefighting & surveying are expected to positively impact payload industry growth.Get deeper insights, latest developments & key market drivers in the Global UAV Payload Market
Key findings from the report
• Camera, imagers, and sensing equipment segment led the global UAV payload industry accounting for nearly 40% of the industry revenue. Increasing applications in law enforcement and surveillance activities are expected to drive the demand for such equipment over the next seven years. Moreover, use of drones with high resolution cameras in commercial film industry and aerial photography activities is expected to generate considerable demand for such equipment.
• Radar and communication equipment form an essential part of military and commercial UAS. These form a link between the drone operator at the ground control unit and the UAVs enabling efficient navigation and maneuvering. Weaponry payload equipment is projected to grow at a significant rate, owing to the increasing adoption and deployment of drones in military and defense activities across the globe. Other payload equipment such as agricultural equipment, delivery drone equipment, and panels for solar-powered drone are anticipated to witness steady growth over the next few years.
• North America dominated the global UAV equipment industry acquiring over 40% of the overall global revenue share. Extensive use of advanced military drones in combat operations and war zones is expected to drive growth in the region. Favorable initiatives by the government and aviation regulatory authorities such as the FAA in the U.S. and EASA in the European region regarding the use of commercial drones have led to an overall surge in demand for drone payload in the region.
• Asia Pacific regional market is anticipated to be a region with vast growth avenues in the industry. Increased investments by countries such as China, India, and Japan in military and commercial drones are expected to derive huge demand for drones and its payloads over the forecast period.
Key UAV Payload Company Insights
Key industry participants are drone manufacturers such as Elbit Systems, Israel Aerospace Industries, Lockheed Martin Corporation, and Northrop Grumman along with payload vendors such as Gilat Satellite Networks, FreeWave Technologies, and Barnard Microsystems. Vendors focus on product enhancement as their strategy to build dominance over competitors in the market.
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Key questions answered in this report
• How big is the market?
• What is the market growth?
• Which segment accounted for the largest market share?
• Who are the key players in market?
• What are the factors driving the market?