“The UAV market is projected to grow at a CAGR of 15.5% during the forecast period.”
The UAV market is projected to grow from USD 19.3 billion in 2019 to USD 45.8 billion by 2025, at a CAGR of 15.5% during the forecast period. The increasing use of unmanned aerial vehicles in commercial and military applications is one of the most significant factors expected to drive the growth of the UAV market. Improvements in flight control systems, owing to the development of sense & avoid technology, are expected to fuel the growth of the UAV market. One of the major challenges for the growth of the UAV market across the globe is the rules and regulations imposed by various government agencies on the use of UAVs in civil & commercial applications. The Federal Aviation Administration (FAA) has offered three pathways for the lawful use of UAVs in the US airspace, which are a Certificate of Authorization (CoA) issued by the Federal Aviation Administration (FAA) for public agencies, permission from the Federal Aviation Administration (FAA) in the form of a special airworthiness certification for private entities, and adherence to model aircraft standards by UAV users.
“Based on type, the fixed-wing UAVs segment is estimated to lead the UAV market in 2019.”
Based on type, the fixed-wing UAVs segment is estimated to lead the UAV market in 2019. Fixed-wing UAVs have longer endurance as compared to other UAVs, thereby making them suitable for use in commercial and military applications. Moreover, the increasing procurement of these types of UAVs for ISR, combat, and logistics operations has resulted in the growth of the UAV market. Medium Altitude Long Endurance (MALE) and High Altitude Long Endurance (HALE) UAVs fall under the category of fixed-wing UAVs. Predator and Reaper are the most commonly used fixed-wing UAVs in military applications.
“Based on class, the strategic & tactical UAVs segment is estimated to lead the UAV market in 2019”.
Based on class, the strategic & tactical UAVs segment is estimated to lead the UAV market in 2019. The growth of the strategic & tactical UAVs segment can be attributed to the extensive use of MALE and HALE UAVs by defense forces worldwide to obtain situational awareness for threat evaluation during combat operations.
“Based on vertical, the military segment is estimated to lead the UAV market in 2019.”
Based on vertical, the military segment is estimated to lead the UAV market in 2019. The growth of the military segment can be attributed to the increasing use of UAVs in various military applications, such as intelligence, surveillance, and reconnaissance (ISR) and electronic warfare. Resupplying, aerial refueling, and air combat are some of the upcoming applications of UAVs in the military sector. UAVs reduce collateral damage while hovering, searching, identifying, and striking targets, which makes them an invaluable asset for the military, driving the growth of the UAV market.
“North America is estimated to lead the UAV market in 2019.”
The North American region is estimated to lead the UAV market in 2019. The US and Canada are key countries considered for market analysis in this region. An increase in the defense expenditure of the US and Canada and the presence of major UAV manufacturers in North America are key factors contributing to the growth of the UAV market in this region.
- By Company Type: Tier 1 – 35%, Tier 2 – 45%, and Tier 3 – 20%
- By Designation: C Level – 35%, Manager Level – 40%, and Director Level – 25%
- By Region: North America – 45%, Europe – 20%, Asia Pacific – 30%, and RoW – 5%
Key players operating in the UAV market include General Atomics (US), Northrop Grumman (US), Textron (US), Boeing (US), DJI (China), Parrot (France), 3D Robotics (US), and Aeryon Labs (Canada).
- This research study covers the segmentation of the UAV market on the basis of UAV type (fixed-wing UAVs, fixed-wing VTOL UAVs, and rotary-wing UAVs), class (small UAVs, strategic & tactical UAVs, and special purpose UAVs), vertical (military, commercial, government & law enforcement, and consumer), industry (defense & security, agriculture, logistics & transportation, energy & power, construction & mining, media & entertainment, insurance, wildlife & forestry, and academics & research), mode of operation (remotely piloted UAVs, optionally piloted UAVs, and fully-autonomous UAVs), range [Visual Line of Sight (VLOS), Extended Visual Line of Sight (EVLOS), and Beyond Line of Sight (BLOS)], MTOW (<25 kilograms, 25-170 kilograms, and >170 kilograms), point of sale (OEM and aftermarket), and system (UAV platforms, UAV payloads, UAV data links, UAV ground control stations, and UAV launch & recovery systems). These segments and subsegments are mapped across various regions, such as North America, Europe, Asia Pacific, the Middle East, Latin America, and Africa. The report provides in-depth market intelligence regarding key factors such as drivers, opportunities, and industry-specific challenges influencing the growth of the UAV market. It also offers an analysis of micromarkets with respect to individual growth trends, prospects, and their contribution to the UAV market.
Reasons To Buy the report:
- The UAV market report focuses on various levels of analyses industry analysis, market share analysis of top players, and company profiles, which together comprise and discuss basic views on the competitive landscape; high-growth regions and countries, and their respective regulatory policies; and drivers, opportunities, and challenges.
The UAV market report provides insights on the following pointers:
- Market Penetration: Information regarding the competitive landscape of the UAV market
- Market Sizing: The estimated market size in 2019 and projection of the market from 2019 to 2025
- Product Development/Innovation: Detailed insights on upcoming technologies, research & development activities, and new product launches in the UAV market
- Market Overview: Market dynamics and subsequent analysis of associated trends as well as drivers, restraints, opportunities, and challenges prevailing in the UAV market
- Market Development: Comprehensive information about lucrative markets – the report analyzes the market for UAVs across various regions
- Market Diversification: Exhaustive information about new products, untapped geographies, recent developments, and investments in the UAV market
- Regional Analysis: Factors influencing the market share of North America, Europe, Asia Pacific, the Middle East, Latin America, and Africa
- Competitive Assessment: In-depth assessment of strategies, products, and manufacturing capabilities of leading market players