Military Unmanned Aerial Vehicle Sensor Market projected to register a CAGR around 6% from 2018 to 2023.
The sensor is a device that detects physical input such as light, heat, motion, moisture, pressure, or any other entity, and responds by producing an output on a display or transmits the information in electronic form for further processing. Sensors are used in unmanned aerial vehicles to cater different functions such as navigation, collision avoidance, and data acquisition. The increased need for military UAVs will enable new growth opportunities for the market players. One of the factors driving the growth of the Military Unmanned Aerial Vehicle Sensor Market is the increasing number of military drones such as combat drones, tactical drones, and target drones. However, there are some shortcomings in the Military Unmanned Aerial Vehicle Sensor Market such as stringent regulations made by the local aviation regulatory bodies. The market for Military Unmanned Aerial Vehicle Sensor Market is estimated to witness 6% CAGR during the forecast period.
On the basis of region, the market has been segmented into North America, Asia Pacific, Europe, and Latin America. In North America, there is a large-scale development of sensors, including image sensor, radar sensor, motion sensor, and optical sensor. In Asia Pacific, high investments by companies on R&D expenditure on military UAV sensors to boost their presence in the market. In 2017, Kratos Defense & Security Solutions Inc. signed a contract with Defense Innovation Unit Experimental for the integration of certain sensors in high-speed drones. In the same year, Raytheon signed a contract with the U.S. Department of Defense (DoD), to modify and retrofit sensors on the Global Hawk Block 30 unmanned aerial vehicle.
The scope of the Report
This study provides an overview of the Military UAV Sensor Market, tracking four market segments across five geographic regions. The report studies key players, providing a five-year annual trend analysis that highlights market size, volume, and share for North America, Europe, Asia Pacific (APAC), Middle East & Africa and Latin America. The report also provides a forecast, focusing on the market opportunities for the next five years for each region. The scope of the study segments the Military Unmanned Aerial Vehicle Sensor Market market by its UAV type, sensor type, technology type, application, and region.