According to the latest report by IMARC Group, titled “UAV Payload and Subsystems Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027” The global UAV payload and subsystems market reached a value of US$ 9.4 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 14.6 Billion by 2027, exhibiting at a CAGR of 7.52% during 2022-2027. UAVs or unnamed ariel vehicles refer to airborne systems that are guided autonomously. They utilize payloads to add weight to the aircraft while ensuring minimal impact on maneuverability. Some of the payloads assigned to UAVs include global positioning systems (GPS), ground control systems (GCS), additional data telemetry, and LiDAR. The UAV subsystems are employed to collect mission data and transmit them to ground-based data centers for evaluation while ensuring uninterrupted control and communications. As a result, UAV payload and subsystems find extensive applications in the suppression and destruction of enemy air defense, communication transfer, electronic attack, and intelligence, surveillance, and reconnaissance (ISR) operations.
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The market is primarily driven by the rising demand for UAVs in the military sector. The expanding defense budget of numerous countries due to the increasing incidences of terrorist attacks is resulting in a higher uptake of the UAV payloads and subsystems on a global level. Additionally, rapid technological advancements and the widespread adoption of miniaturized electro-optic/infrared (EO/IR) payloads are also providing an impetus to the market.
Key Players Included in Global UAV Payload and Subsystems Market Research Report:
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