The market for military UAVs is estimated to be valued at about 12 billion dollars by 2018, and is expected to grow at an average annual growth rate (AAGR) of just 4% to a value of 18 billion by 2028.
In addition, the global market of military unmanned aerial vehicles will be valued at $153 billion during the above-mentioned period and is expected to be dominated by the Asia-Pacific region, followed by North America and Europe.
Studies also cite Asia and the Pacific with a market share of around 35% of the world’s total military unmanned aerial vehicles for the period 2018-2028.
Hegemony in military drones
According to official sources, Asia ranks above the United States and Israel in 2018, creating vehicles with much more competitive costs. Moreover, an international target group is whereby the acquisition of Chinese drones and UAVs which are taking importance over the (substantially more expensive) vehicles offered by the US.
In technical terms, the military UAV market is divided into six segments: UCAV, HALE, MALE, VTOL-UAV, TUAV, and MUAV. UCAVs and HALE UAVs are expected to represent around 39.4% and 22.9% of the military UAV market, respectively, followed by MALE UAVs, with a 17.7% share.
Veronte and micro-avionics in Asia
Faced with this increasing opening market, Asia has been showing interest in international micro-avionics development. Different software solutions, hardware as well as new international technologies, thus benefiting from the previous advances of the UAV industry. This is why the Veronte Autopilot is an incipient option in the Asian market.