November 23, 2017 | International, Aerospace
According to the new market research report on "Unmanned Aerial Vehicle (UAV) Drones Market by Type (Fixed Wing, VTOL, STUAS, MALE, HALE), Payload (Up to 150 and 600 kg), Component (Camera, Sensor), Application (Media & Entertainment, Precision Agriculture), and Geography - Global Forecast to 2023", the market is expected to grow from USD 17.82 Billion in 2017 to USD 48.88 Billion by 2023, at a CAGR of 18.32% during the forecast period. The growth of the UAV drones market is driven by factors such as increase in venture funding, rise in demand for drone-generated data in commercial applications, and rapid technological advancements.
Military drones to capture the largest share of UAV drones market in 2017
Military drones are expected to capture the largest share of the UAV drones market in 2017. The military drones are being used successfully by defense agencies to guard their borders, to enforce law as well as for combat missions. For example, in September 2017, the US military launched six drone strikes against Islamic State positions in Libya. The adoption of military drones by various countries worldwide for military applications such as border security and spying is the key factor driving the growth of the military drones market.
Sensors component estimated to grow at the highest rate during the forecast period
Sensors are being used as payloads in UAVs for many commercial and military applications. Chemical, biological, radiological, and nuclear (CBRN) and laser sensors in military drones are used for marking targets, guiding munitions, missile defense, electro-optical countermeasures, and in inertial navigation systems, among others. The growing demand for sensors to be used in such vital military applications is the key factor driving the growth of the market for sensors.
North America expected to hold the largest share of the market during the forecast period
The market for commercial drones in North America is expected to grow exponentially owing to the release of the Part 107 rule by the Federal Aviation Administration (FAA) of the US in August 2016. UAVs have been used by the countries in North America for military and defense applications; currently, drones are also adopted for various commercial applications such as media and entertainment, precision agriculture, law enforcement, inspection, and surveys. In Canada, UAVs have been used in diverse environments and high-risk roles such as atmospheric research, including weather and atmospheric gas sampling, and oceanographic research.
The current market is dominated by the players such as Northrop Grumman (US), DJI (China), General Atomics Aeronautical Systems (US), Parrot (France), Thales (France), 3DR (US), Boeing (US), PrecisionHawk (US), Lockheed Martin (US), Textron (US), and AeroVironment (US).
https://www.marketsandmarkets.com/PressReleases/commercial-drones.asp
May 5, 2021 | International, Aerospace
As part of the EuroDASS consortium comprising Leonardo UK, Elettronica and Indra, HENSOLDT has received a contract valued at circa 90 Million Euros for the delivery of essential parts of...
April 1, 2020 | International, Land
By: Jen Judson WASHINGTON — Oshkosh Defense has won a $346 million award to modernize the U.S. Army's fleet of heavy tactical vehicles, according to a March 30 company statement. The company will recapitalize Heavy Expanded Mobility Tactical Trucks (HEMTT) and Palletized Load System (PLS) trucks with updated technology and safety features. Under the contract, Oshkosh will also build new PLS trailers. Upgrading heavy tactical trucks aligns with the service's need to support operations across multiple domains against near-peer adversaries. “Whether they're hauling rocket launchers and missile defense systems, or transporting mission-critical equipment, the HEMTT and the PLS will continue to be an integral part of the U.S. Army and U.S. Army Reserve heavy vehicle fleets for years to come,” said Pat Williams, the company's vice president and general manager of U.S. Army and Marine Corps programs. “As the military pivots its focus to near-peer adversaries, they can be confident that the [family of heavy tactical vehicles] fleet will continue to serve as a key enabler for combat missions.” Oshkosh has already recapitalized more than 13,700 HEMTTs and 3,400 PLS for the U.S. military since 1995. The company supplies tactical vehicles across the services, including heavy, medium and light. Oshkosh has long held lucrative contracts to supply the services and foreign partners with medium tactical vehicles; it had won a contract to provide a new variant of the vehicle but has yet to begin delivering to the Army. Navistar Defense recently sued the Army over its continued purchase of Oshkosh's family of tactical vehicles without competition, but the U.S. Court of Federal Claims ruled in favor of the service and Oshkosh. Oshkosh also provides the Joint Light Tactical Vehicle to the Army, Marine Corps and Air Force. The vehicle reached full operational capability last year after overcoming some design issues. The future is unclear for the Oshkosh-manufactured JLTV as the Army looks to compete for future lots of the vehicle, according to the service's fiscal 2021 five-year budget plan. https://www.defensenews.com/land/2020/03/31/oshkosh-wins-contract-to-modernize-armys-heavy-tactical-vehicles/
December 19, 2018 | International, Aerospace
– The USAF Contract Consolidates Multiple Training Programs Into a Single, Unified Program – NEW YORK--(BUSINESS WIRE)--Dec. 18, 2018-- L3 Technologies (NYSE:LLL) has been selected as the prime contractor for the F-16 Simulators Training Program (STP) by the U.S. Air Force. Valued at $350 million, the F-16 STP contract consolidates the previous F-16 Mission Training Center (MTC), F-16 Weapons and Tactics Trainer (WTT) Advanced Sustainment, and F-16 Training System (TS) programs into a single, unified program. “For more than four decades L3 has proudly developed pilots and expert technicians in support of U.S. Air Force F-16 weapons system operations,” said Christopher E. Kubasik, L3's Chairman, Chief Executive Officer and President. “This award demonstrates our ability to deliver comprehensive, world-class training solutions that support total air readiness.” Now in a prime contractor role, L3 was the incumbent on two of the three predecessor programs to the F-16 STP, including the F-16 MTC and F-16 TS. The company was awarded the F-16 MTC in 2008 through a competitive procurement. “By combining three different programs, F-16 STP will enable the U.S. Air Force to provide a more cost-effective approach to maintaining concurrency for the warfighter,” said Mike Swanger, Program Manager, F-16 Simulators, U.S. Air Force. “Our international allies will have the opportunity to benefit from our expertise in their own countries,” added Lenny Genna, President of L3 Link Training & Simulation. “We are proud to build on our long-standing partnership with the Air Force and look forward to being a key provider of F-16 training systems and services for many years to come.” Since 1986, L3 has provided the U.S. Air Force with state-of-the-art, high-fidelity F-16 training systems at both domestic and overseas locations. The company simultaneously ensures that the training systems remain concurrent with the fielded aircraft configurations to ensure the highest-quality training. L3's training systems support maintainers and aircrews across the globe. L3 Technologies is an agile innovator and leading provider of global ISR, communications and networked systems, and electronic systems for military, homeland security and commercial aviation customers. With headquarters in New York City and approximately 31,000 employees worldwide, L3 develops advanced defense technologies and commercial solutions in pilot training, aviation security, night vision and EO/IR, weapons, maritime systems and space. The company reported 2017 sales of $9.6 billion. To learn more about L3, please visit the company's website at www.L3T.com. L3 uses its website as a channel of distribution of material company information. Financial and other material information regarding L3 is routinely posted on the company's website and is readily accessible. Safe Harbor Statement Under the Private Securities Litigation Reform Act of 1995 Except for historical information contained herein, the matters set forth in this news release are forward-looking statements. Statements that are predictive in nature, that depend upon or refer to events or conditions or that include words such as “expects,” “anticipates,” “intends,” “plans,” “believes,” “estimates,” “will,” “could” and similar expressions are forward-looking statements. The forward-looking statements set forth above involve a number of risks and uncertainties that could cause actual results to differ materially from any such statement, including the risks and uncertainties discussed in the company's Safe Harbor Compliance Statement for Forward-Looking Statements included in the company's recent filings, including Forms 10-K and 10-Q, with the Securities and Exchange Commission. The forward-looking statements speak only as of the date made, and the company undertakes no obligation to update these forward-looking statements. View source version on businesswire.com: https://www.businesswire.com/news/home/20181218005778/en/ Source: L3 Technologies L3 Technologies Corporate Communications 212-697-1111 https://www.l3t.com/press-release/l3-awarded-comprehensive-f-16-pilot-training-contract-valued-350-million