The global UAV Drone market is anticipated to grow at a CAGR of 20% during 2016 to 2022. The market has generated the revenue $ 5.97 Billion in 2016 and is anticipated to reach up to $ 21.23 Billion by 2022. Growing Demand for Drone-Generated Data in Commercial Applications, Enhanced Capabilities of UAVs to Fight Terrorism and Increasing Demand from Commercial Applications and Rapid Technological Advancements helps to drive the market of UAV Drone, globally.
Based on segmentation the market of UAV Drone is segmented into Type, Payload, Component and Application. On the basis of type the market is segmented into Commercial Drones and Military Drones. The commercial drone is further segmented into Fixed-Wing Drones and VTOL Drones. Similarly, based on Military Drones the market is segmented into Small Tactical Unmanned Aircraft Systems (Stuas), Medium-Altitude Long-Endurance (Male) UAVs, High Altitude Long Endurance (Hale) UAVs and Unmanned Combat Air Systems (UCAS). Based on payload the market of UAV Drone is segmented into Commercial Drones, Military Drones. Additionally, on the basis of component the market of UAV Drone is further segmented into Camera System, Battery, Propulsion System, Sensor, Navigation System and many more. The Camera System is further segmented into Multispectral Camera, Thermal Camera, Lidar Camera and High Resolution Camera. Similarly the Sensor is further segmented into, Motion Sensors, Light Sensors, Proximity Sensors, Temperature Sensors, Position Sensors and many more. Similarly based on Navigation System the market is further segmented into Global Positioning System (GPS) and Geographic Information System (GIS).On the basis of application the market is further segmented into Commercial Drones and Military Drones. The Commercial Drones is further segmented into Precision Agriculture, Law Enforcement, Media and Entertainment, Retail, Inspection and Monitoring, Surveying and Mapping, Diy Drones and Education. Similarly based on Military Drones the market is further segmented into Spying, Search and Rescue Operations, Border Security, Combat Operations
Some of the major market players are Northrop Grumman Corp., Thales SA, Lockheed Martin Corp., Aerovironment, Inc., DJI, 3DR, Parrot SA, Precisionhawk, Elbit Systems Ltd, Israel Aerospace Industries Ltd., BAE Systems PLC , Leonardo SPA , Flir Systems, Inc. , Dronedeploy. Acquisitions, innovation and mergers are the key strategies adopted by the market players to sustain in the market. For examples: in 2014 BAE Systems announced that they had completed the acquisition of SilverSky.
Geographically, the market of UAV Drone is segmented in to North America, Asia pacific, Europe and rest of the world. The North America holds the largest market share of the Unmanned Aerial Vehicles. Drones as U.S. holds nearly 65.53% of the global UAV Drone market, in 2015. Israel, China, India are some countries which are contributing to the high demand for UAVs which become the major driver for the Asia pacific region. Countries such as Russia and the U.K. are proving to be the emerging markets in the Unmanned Aerial Vehicles Drone. This emerging regions helps to drive the market of Germany.