Unmanned Aerial Vehicles Market Size, Share, and Analysis, By System (UAV Avionics, UAV Payloads, UAV Propulsion, UAV Airframe and UAV Software), Â By Class (Small UAVs, Tactical UAVs, Strategic UAVs), By Technology (Semi-autonomous, Fully-autonomous, Remotely Operated), By Component (Propulsion System, Airframe, Payload, Guidance Navigation & Control), By Range (Visual Range of Sight, Beyond Visual Line of Sight), By Weight (Less Than 50 Kg, More Than 50 Kg), By Point of Sale (OEM, Aftermarket), By Platform (Rotary-Wing, Fixed-Wing and Others), By Application (Agriculture, Commercial, Construction, Military, Mining and Other) and Regional Forecasts, 2022-2032
Report Overview
Product Overview:
Unmanned Aerial Vehicles Market size was USD 21.22 billion in 2021 and projected to grow from USD 28.1 billion in 2023 to USD 102.4 billion by 2032, exhibiting a CAGR of 15.4% during the forecast period.
Unmanned aerial vehicles (UAVs) are usually referred to as drones which are an important component of Unmanned Aerial System (UAS). These aerodynamic structures are originated to perform actions using desired navigation system. The autonomous aircraft are supplied with onboard computers which can be remotely controlled. They aid in reducing the risk to human life for military personnel and are used in observing behaviour, enemy troop tracking, and gathering information.
Market Highlights
Unmanned Aerial Vehicles Market is expected to project a CAGR of 15.4% during the forecast period, 2022-2032
Unmanned Aerial Vehicles Market is expected to reach USD 102.4 billion, growing at a CAGR of 15.4% during forecast period. UAV are the modern aircraft technology which help in assessment, surveillance, photography etc. The initiation of rules and regulation related to the use of UAVs is expected to drive the growth of unmanned aerial vehicle. The increasing acceptance of the smart technology and their applications in the different areas like agricultural, civil, transportation, healthcare, mining, etc. is expected to boost the growth of the market.
Unmanned Aerial Vehicles MarketSegmentation:
Small UAVs Segment is expected to grow with high CAGR during the forecast period
Unmanned Aerial Vehicles Market is classified based on the Class into Small UAVs, Tactical UAVs, Strategic UAVs. Small UAVs segment dominated the market in 2021 and is expected to continue its dominance in the market over the forecast period owing to the presence of civil and military applications along with the use in monitoring, security, and surveillance. The increasing demand for military drones is boosting the growth of the market. The usage of small UAVs for commercial purposes such as mapping, agriculture, surveying etc., is expected to drive the demand in the Unmanned Aerial Vehicles market.
Fully-autonomous Segment is expected to grow during the forecast period
Unmanned Aerial Vehicles Market is classified based on the Technology into Semi-autonomous, Fully-autonomous, Remotely Operated. Remotely operated segment dominated the market in 2021 owing to the products being operated by the remote technology. Fully-autonomous segment is expected to dominate the market in the forecast period as it is controlled fully by the UAVs without any outer command. Fully-autonomous UAVs are high payload mission-based UAVs designed for proper operations and involve a flight planning system and command delivery system to modify the ranges before operating.
Market Dynamics:
Growth Drivers
Increasing Demand for UAVs is Expected to Boost the Growth of the Market
The demand for UAVs is increasing in various countries owing to the adaptation of drone technology and the numerous applications coupled with it. The increased purchase of Unmanned Aerial Vehicles is expected to boost the growth of the market owing to the incidence of border crossing and rivals trespassing. The structures are drawn for airstrikes at planned targeted areas. The ability of countries to produce armed drones is expected to boost the growth of the market. Unmanned Aerial Vehicles are designed to perform major tasks involving surveillance, intelligence, and reconnaissance.
Rising Infrastructure Projects Requiring UAVs is Expected to Boost the Growth of the Market
UAVs are used by several industries, but the usage of drone have increased and are registered for collecting information and develop the aspired strategic decisions and is expected to boost the market growth dur to its high acceptance and usage in the commercial sectors like construction, oil & gas, mining, agriculture etc. The construction projects aid in creating opportunity for market growth due to the necessity in surveying, observation, mapping and inspection.
Restraint
Stringent Regulations May Restrain the Growth of the Market
The strict government regulations set to use airspace for avoiding any damages and safety is restraining the growth of the market. The deficit of managing air traffic connected to the commercial flights of UAVs is expected to hamper the growth of the market.
Recent Developments:
In May 2021, Teledyne FLIR LLC obtained a USD million worth contract from the US Army to dispatch the Black Hornet 3 palm-sized UAV.
In January 2021, Aerovironment, Inc. declared the purchase of Arcturus UAV, Inc. for USD 405 million.
Unmanned Aerial Vehicles Market is segmented based on regional analysis into five major regions: North America, Latin America, Europe, Asia Pacific and the Middle East and Africa. North America dominated the market in 2021 owing to the high use of drones in aerial mapping and for various other applications. Unites states is a major manufacturer of Unmanned Aerial Vehicles and the presence of the key market players in the countries of this region had aided in the growth of the market. Asia Pacific is expected dominate the market in forecast period owing to the growing demand for modern unmanned aerial vehicles in countries of this region.
Impact of Covid-19 on Unmanned Aerial Vehicles Market
The COVID-19 outbreak had resulted in the economic downfall. Several countries had imposed lockdowns and travel bans to control the coronavirus spread. The demand for commercial and military has reduced but the utilization of drones by few companies has increased for handling of material during COVID-19. There has been an increased inspection by drones to monitor public gathering during this period. Covid-19 had slight negative impact on growth of Unmanned Aerial Vehicles Market.
Unmanned Aerial Vehicles Market is further segmented by region into:
North America Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – 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
Asia Pacific Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – India, China, South Korea, Japan, Malaysia, Indonesia, New Zealand, Australia and Rest of APAC
Middle East and Africa Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – North Africa, Israel, GCC, South Africa and Rest of MENA.
Unmanned Aerial Vehicles Market Scope and Segments:
ATTRIBUTE
DETAILS
Study Period
2018-2032
Base Year
2022
Forecast Period
2022-2032
Historical Period
2019-2021
Growth Rate
CAGR of 15.4% from 2022-2032
Unit
Value (USD Billion)
Segmentation
Main Segments List
System
UAV Avionics
UAV Payloads
UAV Propulsion
UAV Airframe
UAV Software
Class
Small UAVs
Tactical UAVs
Strategic UAVs
Technology
Semi-autonomous
Fully-autonomous
Remotely Operated Virtual Assistant
Component
Propulsion System
Airframe, Payload
Guidance Navigation & Control
Range
Visual Range of Sight
Beyond Visual Line of Sight
Weight
Less Than 50 Kg
More Than 50 Kg
Point of Sale
OEM
Aftermarket
Platform
Rotary-Wing
Fixed-Wing
Others
Application
Agriculture
Commercial
Construction
Military
Mining
Other
By Region
North America
U.S.
Canada
Europe
Germany
U.K.
France
Italy
Spain
Scandinavia
Rest of Europe
Asia Pacific
China
Japan
India
Australia
Southeast Asia
Rest of Asia Pacific
Latin America
Brazil
Mexico
Rest of Latin America
Middle East & Africa
GCC
South Africa
Rest of Middle East & Africa
Frequently Asked Questions (FAQ):
Unmanned Aerial Vehicles Market size was estimated at USD 21.22 billion in 2021 and is expected to reach USD 102.4 billion in 2032.
Unmanned aerial vehicles (UAVs) are usually referred to as drones which are an important component of Unmanned Aerial System (UAS). These aerodynamic structures are originated to perform actions using desired navigation system. The autonomous aircraft are supplied with onboard computers which can be remotely controlled.
Small UAVs and Fully-autonomous segment accounted for the largest Unmanned Aerial Vehicles market share.
Key players: Holy Stone, Autel Robotics, AeroVironment Inc, Hexagon, Kesper Drone, DJI, Yuneec, Parrot, Go Pro, Delair and Other Prominent Players are the key players in the Unmanned Aerial Vehicles Market.
Increasing Demand for UAVs and Rising Infrastructure Projects Requiring UAVs are the factors driving the Unmanned Aerial Vehicles market.
15.Middle East and Africa Unmanned Aerial Vehicles Market Size & Forecast 2022A-2032F
15.1.Overview
15.2.Key Findings
15.3.Market Segmentation
15.3.1.By System
15.3.2.By Class
15.3.3.By Technology
15.3.4.By Component
15.3.5.By Range
15.3.6.By Weight
15.3.7.By Point of Sale
15.3.8.By Platform
15.3.9.By Application
15.4.Country
15.4.1.Israel
15.4.2.GCC
15.4.3.North Africa
15.4.4.South Africa
15.4.5.Rest of Middle East and Africa
16.Latin America Unmanned Aerial Vehicles Market Size & Forecast 2022A-2032F
16.1.Overview
16.2.Key Findings
16.3.Market Segmentation
16.3.1.By System
16.3.2.By Class
16.3.3.By Technology
16.3.4.By Component
16.3.5.By Range
16.3.6.By Weight
16.3.7.By Point of Sale
16.3.8.By Platform
16.3.9.By Application
16.4.Country
16.4.1.Mexico
16.4.2.Brazil
16.4.3.Rest of Latin America
17.Competitive Landscape
17.1.Company market share, 2021
17.2.Key player overview
17.3.Key stakeholders
18.Company Profiles
18.1.Holy Stone
18.1.1.Company Overview
18.1.2.Financial Overview
18.1.3.Key Product; Analysis
18.1.4.Company Assessment
18.1.4.1.Product Portfolio
18.1.4.2.Key Clients
18.1.4.3.Market Share
18.1.4.4.Recent News & Development (Last 3 Yrs.)
18.1.4.5.Executive Team
18.2.Autel Robotics
18.3.AeroVironment Inc
18.4.Hexagon
18.5.Kesper Drone
18.6.DJI
18.7.Yuneec
18.8.Parrot
18.9.Go Pro
18.10.Delair
18.11.Other Prominent Players
19.Appendix
20.Consultant Recommendatio
Research
Methodology
Primary Research
Fatpos Global’s dedicated primary research wing comprises a team of analysts adept
at conducting and engaging in detailed primary interviews with key industry
stakeholders across the entire value chain.
The primary research comprises formulation of a detailed discussion guides composed
of questions pertaining to various data points essential developing an in-depth
report.
The subsequent stages development of an exhaustive market participants, key opinion
leaders, industry experts and executives, among others.
Manufacturers, distributors & suppliers, key End Users, industry experts, opinion
leaders, and industry association members, among others compose the sample for the
research study
Supply Side
R&D technicians and technologists
Procurement Managers
Physician If s/Specialist
Research Professors
Healthcare Providers
Consumers
Distributors & Channels
Service Provide
Demand Side
CEOs
Vice presidents
Marketing directors
RProduct Managers
Regional Sales and
Marketing Managers
Business Development
Plant Manage
Research Framework
Objective of Research
The objective of the research is to provide a 360 holistic view on the market and
bringing the insights that can help stakeholders identify the opportunities as well
as challenges.
We have provided the market size in terms of value and volume of market with
segmentation and offers in-depth commentary and accurate quantitative insights.
The study also includes incisive competitive landscape analysis, and provides key
recommendations to market players on winning imperatives and successful strategies.
Primary Research
Fatpos Global’s dedicated primary research wing comprises a team of analyst adept
at conducting and engaging in detailed primary interviews with key industry
stakeholders across the entire value chain.
The primary research comprises formulation of a detailed discussion guides composed
of questions pertaining to various data points essential developing an in-depth
report.
The subsequent stages development of an exhaustive market participants, key
opinion leaders, industry experts and executives, among others.
Manufacturers, distributors & suppliers, key End Users, industry experts, opinion
leaders, and industry association members, among others compose the sample for the
research study
Analysts compile the whole data from demand and supply-side perceptions
Secondary Research
Data is gathered from various secondary databases.
Diligently tracking the secondary sources for closely monitoring the market trends
and insights.
Analysts compile the whole data from demand and supply-side perceptions for the
better outputs.
Data Sources
Research Approach
Demand Estimation of each product across countries/regions summed from the total
market
Variable analysis for demand forecasting
Demand estimation via analysing paid database, company financials either via annual
report or database
Primary interviews for data revalidation and insights collection.
Used extensively for new product forecasting or analysing penetration level
Tool used invoices product flow & penetration models
Use of regression multi variate analysis for forecasting
Involve extensive use of paid and public database
Primary interviews & vendor-based primary research for variable impact analysis
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