Business View - November 2015 11
America, whereas highest growth rate is exhibited
in the emerging markets such as the United King-
dom and Russia.
Border conflicts, war-like situations, and the threats
caused by rising terrorism are expected to boost the
Unmanned Aerial Vehicles market for armed forces,
across the world. Extensive use of UAVs in the com-
mercial, defense, and homeland security sectors
are expected to raise the demand for UAVs, glob-
ally. UAVs are also broadly used in hazardous opera-
tions of disaster response, reconnaissance, recon-
struction, and rescue operations during crises. The
commercial applications of UAVs such as, photogra-
phy, wild life research & survey, agriculture, survey-
ing, and mapping also offer great opportunities for
growth in the near future.
Strategic partnerships, agreements, collaborations,
and joint ventures are the key strategies adopted by
the industry players, in order to achieve growth in
the Unmanned Aerial Vehicles market. The increase
in demand for UAVs coupled with high economic
growth in the developing countries has encouraged
companies to adopt this strategy. Market players
are focusing on entering new markets by launching
new and innovative products.
Northrop Grumman Corp. (U.S.), GA-ASI (U.S.), El-
bit Systems Ltd. (Israel), IAI Ltd. (Israel), AeroViron-
ment Inc. (U.S.),
Lockheed Martin
Corporation (U.S.),
The Boeing Compa-
ny (U.S.), and BAE
Systems Plc. (U.K.)
are some of the
leading players to
have adopted this
strategy to develop
their business.
