Global Unmanned Aerial Vehicle Market, by Type (Fixed Wing Drone, Rotary Blade Drone, and Hybrid Drone), by Load Capacity (<2KG, 2–5 KG, and >5 KG), by Duration (<30 Minutes and >30 Minutes), by Range (Short (<25 Kilometers) and Long (>25 Kilometers)), by Application (Aerial Photography, Agriculture, Emergency and Disaster Management, Inspection & Monitoring, Remote Sensing & Mapping, and Wildlife Research & Preservation), by End User (Government and Defense and Commercial), and by Region (North America, Latin America, Europe, Asia Pacific, and Middle East and Africa) - Global Forecast to 2028, is expected to be valued at US$ 68,983.0 million by 2028, exhibiting a CAGR of 16.3% during the forecast period (2021 - 2028), as highlighted in a report published by Coherent Market Insights.
Overview
An unmanned aerial vehicle unmanned aerial vehicle is an aircraft without human pilot on-board. It include additional ground based controller and systems for communication with UAV. The flight for UAV is operated by human operator or with various degree of autonomy such as autopilot assistance.
In addition, the growth of the unmanned aerial vehicle market is attributed to the increasing use of aerial imagery in number of sectors. Aerial imaging has been used in disaster risk operation, archeology, cartography, journalism, defense and security, construction and development, tourism, and intelligence surveillance and reconnaissance (ISR). For instance, in March 2020, TraceAir, a U.S.-based software solutions company that uses drone data to assist construction team to streamline their projects, announced collaboration with Independent Construction, a U.S.-based construction company. Through this collaboration, they launched drone-powered Haul Router tool to understand how haul roads were designed and their impact on various projects.
The global unmanned aerial vehicle market was accounted for US$ 19,365.8 Mn, in terms of value in 2019 and is expected to grow at a CAGR of 16.3% for the period 2021-2028.
Market Dynamics
The players in the automotive unmanned aerial vehicle market are focusing on launch of advanced unmanned aerial drones, and expansion of existing manufacturing facility, which is expected to attract new customers. For instance, in April 2020, AeroVironment, Inc. introduced Quantix Recon fully-automated hybrid vertical take-off and landing (VTOL) unmanned aircraft system (UAS) for defense applications.
Global Unmanned Aerial Vehicle Market - Impact of Coronavirus (Covid-19) Pandemic
During the global Covid – 19 pandemic, the adoption of drone technology was majorly for the transportation of medical supplies, aerial spraying of sanitizers and other disinfectant, in public areas, in order to disinfect contaminated places, public space monitoring during lockdown and quarantine.
The unmanned aerial vehicle technology speeds up the delivery process of medical supplies, essential items, and also minimizes the risk of exposure to medical staff. Apart from hospitals, these UAVs are also used to deliver essential goods to customers, who are in isolated areas and save time as compared to the traditional transport methods. For instance, in March 2020, due to the Covid-19 pandemic, the U.K. government launched fast track trial for the delivery of medicines from the British mainland to the Isle of Wight using a drone. Such initiatives from the public and private sectors are driving the market growth.
To know the latest trends and insights prevalent in Global Unmanned Aerial Vehicle Market, click the link below:
https://www.coherentmarketinsights.com/market-insight/unmanned-aerial-vehicle-market-4472
Browse 150 market data tables* and 90 figures* on “Global Unmanned Aerial Vehicle Market” - Global forecast to 2027
Key Trends and Analysis of the Global Unmanned Aerial Vehicle Market:
- Among applications, in year 2020, agriculture segment accounted for the highest market share, and is expected to retain its dominance over the forecast period. Unmanned aerial vehicles are used for inspection & monitoring in various sectors such as government, defense, industrial, and commercial. Unmanned aerial vehicles can collect visual data of infrastructures, assets, fields, and others, which helps in inspection and monitoring to avoid situations such as terrorist attack, fire, and others. For instance, according to Economic and Social Commission for Asia and the Pacific- 2019, in Singapore, the Land Transport Authority aims to deploy drones for maintenance inspection of urban mass rapid transit and to enhance underground tunnel inspections, in order to gradually replace manual efforts within the next few years.
- Asia Pacific market is expected to exhibit highest growth during the forecast period, owing to the rise of procurement of military UAV by fast-growing economies such as China and India. Key players in the Asia Pacific UAV market are focused on partnerships and collaborations, in order to expand their global presence. For instance, in April 2019, drone manufacturing company DJI based in China entered into a partnership with Los Angeles Fire Department (LAFD) to test and deploy DJI drone technology for public safety applications.
Competitive Section
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.
Segmentation
Market Taxonomy:
- 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
- By Region
- North America
- Europe
- Latin America
- Asia Pacific
- Middle East and Africa
