Unmanned Aerial Vehicles (UAVs) are remotely controlled aircraft that play an important role in the commercial and defense sectors; They are commonly referred to as drones and are best known for their widespread use in various military missions such as border surveillance to map, measure, and determine the meteorological conditions of a particular area.
Unmanned Aerial Vehicle Market is expected to project a notable CAGR in 2031
Unmanned Aerial Vehicle market to surpass USD XX.XX billion by 2030 from USD XX.XX billion in 2021 at a CAGR of XX.X% in the coming years, i.e., 2021-31. With the integration of new technologies such as artificial intelligence, detection and avoidance systems, and cloud computing into UAVs, their demand is expected to continue to grow. The incorporation of artificial intelligence into UAVs has not only improved their capabilities, but also enabled them to perform various activities such as launch, navigation, data acquisition, data transfer, and data analysis without human intervention.
Unmanned Aerial Vehicle market: Segments
Commercial segment to grow with the highest CAGR during 2021-31
Unmanned Aerial Vehicle market is segmented by Application into Military, Commercial, Government & Law Enforcement, and Consumer. The Commercial is the dominant segment of the Unmanned Aerial Vehicle market and has the highest revenue share as these innovative tools collect data from online forms, extract critical data from websites, extract email data from corporate and home electronics, and much more.
OEM Enterprise segment to grow with the highest CAGR during 2021-31
Unmanned Aerial Vehicle market is segmented by Point of Sale into OEM and Aftermarket. The OEM segment of the Unmanned Aerial Vehicle market is expected to have a higher CAGR compared to the aftermarket segment as most of the assemblies and required modifications to UAVs are done at the OEM level.
Unmanned Aerial Vehicle Market: Key Players
Company Overview, Business Strategy, Key Product Offerings, Financial Performance, Key Performance Indicators, Risk Analysis, Recent Development, Regional Presence, SWOT Analysis
Elbit Systems Ltd.
Northrop Grumman Corporation
BAE Systems plc
Israel Aerospace Industries Ltd.
Other Prominent Players
Unmanned Aerial Vehicle Market: Regions
Unmanned Aerial Vehicle Market is segmented based on regional analysis into five major regions. These include North America, Latin America, Europe, Asia Pacific, and the Middle East, and Africa. North American Unmanned Aerial vehicle market continues to be a significant emerging region in the global Unmanned Aerial Vehicle Market. The Europe was spotted as the second-largest Unmanned Aerial vehicle Market.
Government & Law Enforcement
By Point of Sale
Unmanned Aerial Vehicle Market Dynamics
Unmanned Aerial Vehicle Market Size
Supply & Demand
Competition & Companies Involved in the Market
Value Chain of the Market
Market Drivers and Restraints