Market Trends of UAV Payload and Subsystems Industry
This section covers the major market trends shaping the UAV Payload & Subsystems Market according to our research experts:
The Sensor Segment is Expected to Witness Significant Growth During the Forecast Period
Though the Radar and Communications segment accouted for the largest share in the market in 2021, the sensor segment is expected to witness significant growth during the forecast period. In the current scenario, the use of Unmanned Aerial Vehicles (UAVs), commonly known as drones, in the global civilian market is witnessing significant growth. This trend is due to the integration of high-performance processors, sensors, and electronic devices with lower power consumption on UAV platforms. A growing number of unmanned vehicles in the air, on the ground, and at sea represent a vast universe of sensors and sensor processing that could provide some of the most detailed intelligence information on military forces. Some of the chief enabling technologies for this new generation of connected unmanned vehicle sensor payloads include electro-optical sensors like infrared sensors, visible-light cameras, multispectral, and hyperspectral sensors. Companies are developing a new generation of technologically advanced sensors. For instance, one prominent company involved in electro-optical unmanned vehicle sensor payloads is FLIR Systems in Wilsonville, Ore. FLIR has introduced the UltraForce275-HD compact multi-sensor gyro-stabilized surveillance system for weight, power, and footprint-constrained platforms like unmanned aerial vehicles (UAVs). The gimbal weighs slightly more than 33 pounds. Similarly, Octopus ISR Systems in Riga, Latvia, offers the Epsilon 175 small gyro-stabilized electro-optical four-sensor payload for UAVs for military applications, order control, and civil uses.
More and more sensors are being embedded in UAVs which ensures the safety and automatic navigation to perform measurements during the flight according to the mission targets. New applications and functionalities for UAV systems are growing due to the increasing demand from companies seeking to integrate the benefits of UAVs into industrial processes and this has led to various companies' manufacturing advanced onboard sensors and devices to be fitted to UAVs.
Various new and different types of sensors such as external IMu sensors, external GPS sensors, air quality sensors, fuel level sensors, temperature sensors as well as rain sensors are being increasingly designed by companies to meet the requirement of modern customers. Thus, advancements in terms of development of advanced sensors will lead to the market witnessing growth during the forecast period.
The Asia-Pacific Region is Expected to Witness Significant Growth During the Forecast Period
The Asia-Pacific region is expected to witness significant growth during the forecast period. There has been a significant increase in the number of usage of UAVs in China. The growing number of border conflicts coupled with various Chinese companies developing advanced UAVs that can carry higher payloads will drive the market in the near future. The UAV industry in China is witnessing growth owing to strong demand from the low-altitude economy. According to reports by China Daily, as of 2022, the Chinese drone market has been valued at 100 billion yuan or USD 14.8 billion. Since 2020, despite the COVID-19 outbreak, China's drone market has succeeded in maintaining a 30 percent growth due to contactless delivery and smart applications. Moreover, according to reports from the Civil Aviation Administration of China, by the end of 2021, there are 781,000 registered drone users, and the number of registered drones total 832,000. Various Chinese companies such as ACES, China Electronics, and Hexadrones are now engaged in developing UAVs with advanced payload systems. For instance, in November 2022, China announced the development of their new MD-22 drone which has a flight speed of 8,645 km/h, a range of 8,000 km, and a payload of 4,000 kg. This drone has been developed to test hypersonic technology in China. The other major countyr in the region, India, is engaged in acquiring homegrown drones. Moreover, the country has also launched a series of fast-track drone procurement efforts under emergency powers that will see the country spend up to 3 billion rupees (USD 36 million) for each program. Moreover, according to the Defense Ministry, orders will be fulfilled within one year after the contract has been signed. Countries in the Rest of Asia-Pacific such as Thailand, Singapore as well as Malaysia are witnessing significant improvements in terms of development as well as usage of UAVs and payload subsystems. For instance, in September 2022, the Royal Thai Navy announced that have placed an order for Hermes 900 maritime unmanned aerial vehicles (UAVs) from Israel under a contract worth USD 120 million. Moreover, the medium-altitude long-range (MALE) UAVs will be equipped with various payload systems such as maritime radar, an electro-optic payload, satellite communication (Satcom) equipment, droppable inflated life rafts, and other capabilities and intended to enable the Royal Thai Navy to perform missions such as maritime search-and-rescue and identification of suspicious activities and potential hazards. Such developments will lead to growth in terms of UAV payload and subsystems in the market during the forecast period.
