And Commercial UAV Market
The global military UAV market is projected to grow to USD 13.9 billion by 2026, at a CAGR of 38.7% from 2016 to 2022. MUAV/MAVs are dominant in respect of units delivered and the UCAVs in terms value. There has been a growing use by militaries around the world of Unmanned Aerial Vehicles, more popularly known as ‘drones’. More than 10,000 UAVs are now operated or coming into service with militaries around the world. Their increased usage has mostly been driven by operational experience of the US and Israel, as well as recent operations in Afghanistan, Iraq and Syria for intelligence, surveillance and reconnaissance (ISR) tasks with the US leading the way in terms of spending on research, procurement and support. Several countries are gaining and developing their own platforms in part to enhance their military intelligence capabilities, or in order to develop their own defence and aerospace industries.