Unmanned Aerial Vehicle (UAV) Market Size
Unmanned Aerial Vehicle (UAV) Market to surpass USD 80.5 billion by 2030 from USD 21.9 billion in 2021 at a CAGR of 15.6% throughout the forecast period 2021-30.
Unmanned aerial vehicles also considered being drones that can be used without a human pilot onboard an aircraft system. They are often used in manned aircraft risky missions. The autonomy of a ground operator or board computer is provided via remote control. They are an important component of modern warfare. Some equipment can carry missiles and reach the target with great precision. In monitoring and rescue operations, drones are also used. Smaller aircraft were used to gather information about the hostile locations before a mission. These devices are suitable for supplying food and water in areas affected by natural disasters, including floods and earthquakes.
Market Highlights
Unmanned Aerial Vehicle (UAV) Market is expected to project a CAGR of 15.6% during the forecast period, 2021-2030
One of the key factors in the growth of the UAV market is the rise in the global procurement of military UAVs by defense forces. Another factor contributing to the growth of the UAV market is the growing use of UAVs in diverse commercial applications such as tracking, surveying and mapping, precision farming, aerial television sensing, and product distribution.
Global Unmanned Aerial Vehicle (UAV) Market: Segments
The line of sight (LOS) segment of the UAV market dominated the market and accounted for XX of the global market.
Global Unmanned Aerial Vehicle (UAV) market is segmented by Range into beyond light of sight (BLOS), visual line of sight (VLOS), and an extended visual line of sight (EVLOS). This growth was anticipated due to the increase in the usage of commercial and consumer applications.
The commercial segment of the UAV market is anticipated to grow at the highest CAGR from 2019 to 2030
Global Unmanned Aerial Vehicle (UAV) market is segmented by application into the military, commercial, government & law enforcement, and consumer. The increased use of UAVs in various commercial applications, including product distribution, supervision, surveying, mapping, and remote sensing, may attribute to this growth.
The small UAVs segment is expected to grow at the highest CAGR of XX% during 2019-2030
Global Unmanned Aerial Vehicle (UAV) market is segmented by class into small UAVs, strategic & tactical UAVs, and special-purpose UAVs.The advent of a rise in demand for the UAVs from defense services for surveillance. As these UAVs are used in precision agriculture, logistics & transportation, animal surveys, search and rescue services, firefighting, law enforcement, photography, and disaster management, the demand for small-scale commercial UAVs is also continuously rising.
Market Dynamics
Drivers
Growing Military and commercial applications
The growing use of military and commercial applications of unmanned aerial vehicles is a significant factor in driving the world market’s demand. The growing acceptance and preference for modern warfare technologies without endangering human life in dangerous military operations is the reason for the rising demand for unmanned aerial vehicles.
Preference in the Law enforcement sector and rescue operations
The growing use of drones for border controls also drives the growth of the global Arial vehicle market. The growth of the drones market for aerial vehicles is also driven by rising preference in the law enforcement sector as a result of increasing terrorist attacks and regional unrest. The use of UAVs for search and rescue operations and the use of drones in the agriculture sector in the event of natural disasters are expected to drive world market growth.
Restraints
Lack of traffic regulations
Government restrictions on the use of UAVs and the lack of air traffic control legislation will impede growth in the global unmanned aerial vehicle market (UAV). The usage of aircraft is regulated for commercial purposes by the Federal Aviation Administration ( FAA). A license is required and flying regulations need to be followed for the correct functioning of air traffic, failure which can lead to serious civil penalties.
Global Unmanned Aerial Vehicle (UAV) Market: Regions
North America is expected to hold XX% of the Global market share.
UAV-assisted surveillance systems were deployed in emerging economies, including China and South Korea. Because of the low concentration of application industries, South America and Africa are expected to see slow growth.
Global Unmanned Aerial Vehicle (UAV) market is further segmented by region into:
- North America Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – the United States and Canada
- Latin America Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – Mexico, Argentina, Brazil, and Rest of Latin America
- Europe Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – United Kingdom, France, Germany, Italy, Spain, Belgium, Hungary, Luxembourg, Netherlands, Poland, NORDIC, Russia, Turkey, and Rest of Europe
- APAC Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – India, China, South Korea, Japan, Malaysia, Indonesia, New Zealand, Australia, and the Rest of APAC
- MENA Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – North Africa, Israel, GCC, South Africa
Global Unmanned Aerial Vehicle (UAV) Market: Key Players
- Elbit Systems Ltd. (Israel)
Company Overview, Business Strategy, Key Product Offerings, Financial Performance, Key Performance Indicators, Risk Analysis, Recent Development, Regional Presence, SWOT Analysis
- General Atomics (U.S.)
- Lockheed Martin Corporation (U.S.)
- Parrot S.A.(France)
- PrecisionHawk Inc (U.S.)
- 3D Robotics (U.S.).
- Boeing (U.S.)
- Saab AB (Sweden)
- Ehang (china)
- Yuneec International (China).
Global Unmanned Aerial Vehicle (UAV) market report also contains an analysis on:
Global Unmanned Aerial Vehicle (UAV) Market Segments
- By Range into
- Beyond the light of sight (BLOS)
- Visual line of sight (VLOS)
- Extended visual line of sight (EVLOS)
- By application into
- Military
- Commercial
- Government & law enforcement
- Consumer.
- Others
- By class into
- Small UAVs
- Strategic & tactical UAVs
- Special-purpose UAVs
- Global Unmanned Aerial Vehicle (UAV) Market Dynamics
- Global Unmanned Aerial Vehicle (UAV) Market Size
- Supply & Demand
- Current Trends/Issues/Challenges
- Competition & Companies Involved in the Market
- Value Chain of the Market
- Market Drivers and Restraints
Frequently Asked Questions (FAQ):
The Unmanned Aerial Vehicle (UAV) Market size was estimated at USD 80.5 billion by 2030 and is expected to reach USD 21.9 billion in 2021
Elbit Systems Ltd. (Israel), General Atomics (U.S.), Lockheed Martin Corporation (U.S.), Parrot S.A.(France), PrecisionHawk Inc (U.S.), 3D Robotics (U.S.)., Boeing (U.S.), Saab AB (Sweden), Ehang (china), Yuneec International (China).
The line of sight (LOS) segment and The commercial segment are anticipated to hold the Unmanned Aerial Vehicle (UAV) Market
Drivers Growing Military and commercial applications
Unmanned aerial vehicles also considered being drones that can be used without a human pilot onboard an aircraft system. They are often used in manned aircraft risky missions. The autonomy of a ground operator or board computer is provided via remote control. They are an important component of modern warfare.
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