We have an updated report [Version - 2024] available. Kindly sign up to get the sample of the report.
all report title image
  • Published On : Jun 2021
  • Code : CMI4472
  • Pages :160
  • Formats :
      Excel and PDF
  • Industry : Aerospace and Defense

The unmanned aerial vehicles are the aircrafts that does not have human pilot aboard, and it is controlled autonomously through onboard computers or remote control by a human operator. Increasing defense spending by various governments across the globe and growing terrorist activities are expected to propel the growth of the unmanned aerial vehicle market, over the forecast period (2021 – 2028). For instance, according to the Center for Strategic and International Studies, Chinese Defense spending in year 2016 was US$ 143.7 Billion, which increased up to US$ 172.3 Billion by year 2019.

The increasing demand for unmanned aerial vehicles in military applications such as border security, surveillance, is expected to drive the market growth during the forecast period. This is due to the emergence of drone technology and several capabilities associated with the drones such as video recording and still images. In the past decade, the demand for unmanned aerial vehicles increased in various countries such as the U.S., China, India, and others. For instance, in 2019, according to Federal Aviation Administration (FAA), there were 1.3 million registered drones and thousands of unregistered drones in the U.S.

Global Unmanned Aerial Vehicle Market - Impact of Coronavirus (Covid-19) Pandemic

COVID-19 has significantly disrupted almost all the industries including infrastructure, retail, manufacturing, and others. To combat COVID-19 pandemic, most of the countries have implemented lockdowns and are now easing it in phase-wise and industry wise. During the pandemic, the demand for UAVs (Unmanned Aerial Vehicles) increased in healthcare, e-commerce, and many other applications.

To disinfect public places and to contain the spread of COVID-19, many healthcare organizations are deploying UAVs to conduct various tasks such as spraying disinfectant in the affected areas. These spraying UAVs are filled with disinfectant and cover a larger area in less time and are 50 times faster than conventional methods. For instance, according to Coherent Market Insights’ analysis, in China, UAVs have the capacity to hold 16 liters of disinfectant and can cover 100,000 area square meters in an hour. These UAVs are easy to use, affordable, and reduce the risk of COVID-19 spread among the health workers. Due to this, many countries are adopting disinfecting UAVs to contain the spread of COVID-19.

North America is expected to hold dominant position in the global unmanned aerial vehicle market during the forecast period.

Statistics:

North America held dominant position in the global unmanned aerial vehicle market in 2019, accounting for 37.2% share in terms of value, followed by Europe, and Asia Pacific.

Figure 1: Global Unmanned Aerial Vehicle Market Share (%), By Region, 2019

UNMANNED AERIAL VEHICLE MARKET

To learn more about this report, request a free sample copy

Several key players such as Amazon, 3D Robotics, AeroVironment, Inc., Google, DHL, and others are offering UAV services in remote areas in the North America region, which has led to an increase in demand for unmanned aerial vehicles in North America region. Moreover, the U.S. government agencies are also encouraging the involvement of UAVs in aviation safety and operations in the U.S. navigable airspace, including UAV operations and end-to-end delivery of products. For instance, in April 2019, Wing, the Alphabet-owned start-up engaged in the drone delivery, was approved by Federal Aviation Administration (FAA) for delivery drones in the U.S.

Major companies operating in the global unmanned aerial vehicle market include: 3D Robotics, AeroVironment, Inc., DJI, Elbit Systems Ltd, General Atomics, GoPro, Inc., Israel Aerospace Industries, Lockheed Martin Corporation, Northrop Grumman Corporation, Parrot SA, Textron Inc., Boeing, Uvify Inc., and YUNEEC.

Unmanned Aerial Vehicle Market Report Coverage

Report Coverage Details
Base Year: 2019 Market Size in 2019: US$ 19,365.8 Mn
Historical Data for: 2017 to 2020 Forecast Period: 2021 to 2028
Forecast Period 2021 to 2028 CAGR: 16.3% 2028 Value Projection: US$ 68,983.0 Million
Geographies covered:
  • North America: U.S. and Canada
  • Latin America: Brazil, Argentina, Mexico, and Rest of Latin America
  • Europe: Germany, U.K., Spain, France, Italy, Russia, and Rest of Europe
  • Asia Pacific: China, India, Japan, Australia, South Korea, ASEAN, and Rest of Asia Pacific
  • Middle East and Africa: GCC Countries, South Africa, and Rest of Middle East and Africa
Segments covered:
  • By Type: Fixed Wing Drone, Rotary Blade Drone, Hybrid Drone
  • By Load Capacity: <2KG, 2–5 KG, >5 KG
  • By Duration: <30 Minutes, >30 Minutes
  • By Range: Short (<25 Kilometers), Long (>25 Kilometers)
  • By Application: Aerial Photography, Agriculture, Emergency and Disaster Management, Inspection & Monitoring, Remote Sensing & Mapping, Wildlife Research & Preservation 
  • By End User: Government and Defense, Commercial
Companies covered:

Major companies operating in the global Unmanned Aerial Vehicle include: 3D Robotics, AeroVironment, Inc., DJI, Elbit Systems Ltd, General Atomics, GoPro, Inc., Israel Aerospace Industries, Lockheed Martin Corporation, Northrop Grumman Corporation, Parrot SA, Textron Inc., Boeing, Uvify Inc, and YUNEEC

Growth Drivers:
  • Growing demand for aerial imaging in different sectors
  • Growing demand for unmanned aerial vehicle (UAV) in military applications
Restraints & Challenges:
  • High cost associated with advanced electronics and advanced UAV systems

Among type segment, the fixed wing drone sub-segment is expected to dominate the market during the forecast period, owing to increasing usage of fixed drones for aerial mapping of large areas in shorter period of time.

There are three types of fixed wing drones, which include straight, swept, and delta. The advantages of fixed wing drones include simple construction & less maintenance, longer flight time, covers large area in minimum time, stability, good image quality, and others.

Fixed wing drones are used in various aerial applications such as surveying & mapping, search & rescue, ISR (Intelligence, Surveillance and Reconnaissance) missions, and others. Fixed wing drones are specially used to mapping larger areas in a shorter of time. For instance, fixed wing drones are used by militaries to scan war areas quickly and efficiently. In power and utility sector, fixed wing drones are used for pipeline and power line inspection.

Figure 2: Global Unmanned Aerial Vehicle Market Value (US$ Mn), 2017 - 2028

UNMANNED AERIAL VEHICLE MARKET

To learn more about this report, request a free sample copy

The global unmanned aerial vehicle market was valued at US$ 19,365.8 Mn in 2019 and is expected to reach US$ 68,983.0 Mn by 2028, exhibiting a CAGR of 16.3% between 2021 and 2028.

Frequently Asked Questions

The global unmanned aerial vehicle market is expected to reach US$ 27,983.1 million by 2022.

The market is expected to witness a CAGR of 16.3% during the forecast period (2021-2028).

Growing demand for aerial imaging in different sectors such as energy, defense, forestry, agriculture, real estate, is expected to drive growth of the market during the forecast period.

The fixed wing drone segment held the largest market share among type segment, contributing 65.7% in terms of value in 2019.

North America held the largest share in the market in 2019, accounting for 37.2% share in terms of value.

Major companies operating in the market include 3D Robotics, AeroVironment, Inc., DJI, Elbit Systems Ltd, General Atomics, GoPro, Inc., Israel Aerospace Industries, Lockheed Martin Corporation, Northrop Grumman Corporation, Parrot SA, Textron Inc., Boeing, Uvify Inc., and YUNEEC.

View Our Licence Options

Need a Custom Report?

We can customize every report - free of charge - including purchasing stand-alone sections or country-level reports

Customize Now

Want to Buy a Report but have a Limited Budget?

We help clients to procure the report or sections of the report at their budgeted price. Kindly click on the below to avail

Request Discount
Logo

Reliability and Reputation

ESOMAR
DUNS Registered
Clutch
DMCA Protected

9001:2015

Reliability and Reputation

27001:2022

Reliability and Reputation

EXISTING CLIENTELE

Joining thousands of companies around the world committed to making the Excellent Business Solutions.

View All Our Clients
trusted clients logo