Market Expansion Factors Lead to Steady Growth for Unmanned Aerial Vehicle (UAV) in China Through 2021
China UAV market attracted numerous companies and research teams, in 2016, the china market size was USD16.2 billion, which involved USD14.3 billion for military UAV, USD0.6 billion for ordinary civil consumption and USD1.3 billion for professional civil consumption.
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The unmanned aerial vehicle (UAV) is more commonly known as a drone and plays an important role in civil and military defence technology. Essentially, it is a military aircraft that does not require a human onboard in order to operate effectively. Either of these aerial vehicles are controlled by a computer installed in the drone or remotely by a pilot or navigator from another vehicle or from the ground. Lately, the use of UAVs has become more common in intelligence strategies. According to the study, civil used UAV will be devoted sharply in the future and this will upsurge its market size in China. The research observed that, it is expected to reach RMB42.5 billion in 2024, which included RMB22 billions of military UAV and RMB20.5 billion of civil UAV. Currently, there are over fifteen thousand UAVs operating in China in the civilian sector alone.
Furthermore, the report analyses that market growth of Unmanned Aerial Vehicle (UAV) is boosted by an increasing demand in the civil and military sectors. These unmanned vehicles were originally designed strictly for the gathering of information, but are now equipped with defence features that include Hellfire missiles. A reduction in the number of related operational risks along with innovative solutions has created an escalation in demand for UAVs in performing multifarious operations without extensive human involvement. The report provides readers to understand the various aspects of the market such as factors driving the UAV market, threats that can possibly slow down the market growth and present growth opportunities that are going to shape the market expansion of UAVs. Also, demand and potential of Military UAV’s and Civil UAV’s in China has been discussed in detail.
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In the last section, the report has investigated the Chinese UAV market from the Overseas and Chinese Belwether Company along with its introduction, products and performance.
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