December 31, 2020

Unmanned Aerial Vehicle Market Forecast

Unmanned Aerial Vehicle Market By Type (Fixed- Wing UAVs, Multirotor UAVs, Single Rotor UAVs, Hybrid VTOL UAVs), Applications (Military, Civil & Commercial. Homeland Security, Consumer), Class (Small UAVs, Tactical UAVs, Strategic UAVs, Special Purpose UAVs), System (UAV Platforms, UAV Payloads, UAV Data Links, UAV Ground Control Stations, UAV Launch and Recovery Systems), Mode of Operation (Remotely Operated UAVs, Semi-Autonomous UAVs, Fully-Autonomous UAVs), Range (Visual Line of Sight (VLOS), Extended Visual Line of Sight (EVLOS), Beyond Line of Sight (BLOS)), Point of Sale (OEM, Aftermarket), MTOW (<25 Kilograms, 25-150 Kilograms, >150 Kilograms), Geography (North America, South America, Europe, Asia-Pacific, Middle East and Africa)– Industry Trends and Forecast to 2026

Market Analysis: Unmanned Aerial Vehicle Market

Global Unmanned Aerial Vehicle Market is expected to rise from its initial estimated value of USD 20.73 billion in 2018 to an estimated value of USD 60.54 billion by 2026, registering a CAGR of 14.33% in the forecast period of 2019-2026. Increase demand of the UAV in military is the major factor for the growth of this market.

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Market Definition: Unmanned Aerial Vehicle Market

UAV or Unmanned aerial vehicle which is also known as drone is the aircraft which operates without a human pilot on-board and are remotely piloted. There are sensors and GPS in them. They are used in by the military for anti- aircraft target practice, intelligence gathering and weapon platforms. They are also used by the firefighters and police.

Market Drivers:

  • Rising demand of unmanned aerial vehicles for photography, hobbyist, agriculture and surveillance applications is driving the growth of market.
  • Rise in their demand across the developing nations.

Market Restraints:

  • The cost of the UAV is the major factor restraining the growth of this market.

Segmentation: Unmanned Aerial Vehicle Market

  • By Type
    • Fixed- Wing UAVs
    • Multirotor UAVs
    • Single Rotor UAVs
    • Hybrid VTOL UAVs
  • By Applications
    • Military
    • Civil & Commercial
    • Homeland Security
    • Consumer
  • By Class
    • Small UAVs
    • Tactical UAVs
    • Strategic UAVs
    • Special Purpose UAVs
  • By System
    • UAV Platforms
    • UAV Payloads
    • UAV Data Links
    • UAV Ground Control Stations
    • UAV Launch and Recovery Systems
  • By Mode of Operation
    • Remotely Operated UAVs
    • Semi-Autonomous UAVs
    • Fully-Autonomous UAVs
  • By Range
    • Visual Line of Sight (VLOS)
    • Extended Visual Line of Sight (EVLOS)
    • Beyond Line of Sight (BLOS)
  • By Point of Sale
    • OEM
    • Aftermarket
  • By MTOW
    • <25 Kilograms
    • 25-150 Kilograms
    • >150 Kilograms
  • By Geography
    • North America
      • US
      • Canada
      • Mexico
    • South America
      • Brazil
      • Argentina
      • Rest of South America
    • Europe
      • Germany
      • United Kingdom
      • Italy
      • France
      • Spain
      • Russia
      • Turkey
      • Belgium
      • Netherlands
      • Switzerland
      • Rest of Europe
    • Asia-Pacific
      • Japan
      • China
      • South Korea
      • India
      • Australia
      • Singapore
      • Thailand
      • Malaysia
      • Indonesia
      • Philippines
      • Rest of Asia Pacific
    • Middle East & Africa
      • South Africa
      • Egypt
      • Saudi Arabia
      • United Arab Emirates
      • Israel
      • Rest of Middle East & Africa

Key Developments in the Market:

  • In February 2019, Cyient Solutions & Systems Pvt. Ltd announced the launch of their new unmanned aerial system – the WanderB Vertical Take-off & Landing UAV. They are specially designed so that it can be used for military, peacekeeping, low-intensity conflict resolution, disaster management and commercial applications.
  • In November 2018, China launched a pilot traffic management program for unmanned aerial vehicle which will offer a new platform for UAV management. They will also provide services like quick approval of flight applications, real-time flight paths, quick verification of identities and information broadcasting.

Competitive Analysis:

Global unmanned aerial vehicle market is highly fragmented and the major players have used various strategies such as new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market. The report includes market shares of unmanned aerial vehicle market for global, Europe, North America, Asia Pacific, South America and Middle East & Africa.

Key Market Competitors:

Few of the major competitors currently working in the unmanned aerial vehicle market are 3D Robotics Inc., Aerovironment, Inc., BAE Systems., Elbit Systems Ltd., General Atomics, Israel Aerospace Industries Ltd., Lockheed Martin Corporation, Northrop Grumman Corporation, Parrot Drones SAS, Saab AB, Textron Inc., Thales Group, Boeing.

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Reasons for Buying this Report

This report provides pin-point analysis for changing competitive dynamics

It provides a forward looking perspective on different factors driving or restraining market growth

It provides a six-year forecast assessed on the basis of how the market is predicted to grow

It helps in understanding the key product segments and their future

It provides pin point analysis of changing competition dynamics and keeps you ahead of competitors

It helps in making informed business decisions by having complete insights of market and by making in-depth analysis of market segments

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