The global unmanned aerial vehicle (UAV’s) market is expected to register a CAGR of 13.80% over the forecast period of 2018-2026. Factors such as rising applications of UAV’s for commercial use, their growing demand for advanced patrolling of the marine border and technological advancements in the field of drone payloads are expected to drive the market growth.
The global unmanned aerial vehicle (UAV’s) market is segmented on the basis of type, class, MTOW, range, application and system. Market by type is segmented into fixed-wing UAVs, multirotor UAVs, single rotor UAVs and hybrid CTOL UAVs. Market by class is segmented into small UAV, tactical UAV, strategic UAV and special purpose UAV. Market by MTOW is classified into <25 Kilograms, 25-150 Kilograms or >150 Kilograms. UAV market by range is further divided into the visual line of sight (VLOS), extended visual line of sight (EVLOS) and beyond the line of sight (BLOS). Market by application has been further categorized into military, civil & commercial, homeland security and consumer. On the basis of systems, the market is categorized into payloads, platforms, UAV data links, UAV ground control stations and UAV launch & recovery systems.
Region wise, the global UAV market has been segmented into Europe, North America, Asia-Pacific and rest of the world. Of these, the North America UAV market captured the lion’s share of the global market in 2017. U.S and Canada are the major contributors to this region. However, the Asia-Pacific market is likely to exhibit the highest CAGR over the forecasted years, as compared to other regional markets. The region is prospering due to rising geopolitical tensions in the APAC countries.
Some of the competing players in the global UAVs market are 3D Robotics Inc, Aeronautics Ltd, Aerovironment Inc, Bae Systems Inc, Elbit Systems Ltd, General Atomics Aeronautical Systems, Inc. (Ga-Asi), Israel Aerospace Industries (IAI), Lockheed Martin Corporation, Northrop Grumman Corporation, Parrot Sa, Saab Ab, Sz DJI Technology Co Ltd, Textron Inc, Thales Group and The Boeing Company.