The unmanned aerial vehicle market size reached USD 23.60 Billion in 2021 and is expected to register a revenue CAGR of 14.6 % during the forecast period, according to the latest analysis by Emergen Research. Increasing commercial drones application is one of the key factors for driving the market revenue growth. Several industries have authorized the usage of drones to acquire significant amount of data to make the necessary business choices. It has become a rapidly increasing commercial market, with several uses such as construction, mining, oil & gas, and agriculture across the world. The construction sector is projected to provide a significant opportunity for market growth owing to the substantial commercial usage of mapping, observation, surveying, and inspection studies. Significant infrastructure construction projects require factual data to comprehend the ground reality and potential issues in the future. The construction industry is witnessing rapid adoption of drones of all forms and sizes. It is assisting various engineers and specialists in making wiser business decisions by mapping millions of Landsat images and information. The increasing implementation in commercial civil applications is expected to drive the market growth during the forecast period.
However, inadequate pilot training and stringent rules are the factors that are expected to hamper market revenue growth to some extent during the forecast period. Commercial drones are being used for surveying, mapping, and monitoring purposes in different nations. The sector is facing major challenges in several countries due to stringent government rules for accessing airspace to prevent any unexpected damage and safety issues,. In addition, the absence of air traffic management connected to commercial UAV flights and constraints in metropolitan areas are expected to hinder the market growth during the forecast period.
The global Unmanned Aerial Vehicle market is anticipated to amass a staggering revenue over the forecast years. The report is an extensive compilation of intelligent market research studies that are bound to help companies and stakeholders make informed business decisions in the long run. The report further focuses on the strategic initiatives and business expansion plans undertaken by the key players participating in the Unmanned Aerial Vehicle industry. An assessment of the effective strategies used by these players, such as mergers & acquisitions, joint ventures, partnerships and collaborations, government & corporate deals, brand promotions, and new product launches, has been entailed in the report.
Market Size – USD 23.60 Billion in 2021, Market Growth – at a CAGR of 14.6%, Market Trends – Economic potential of the drone will drive the UAV Market
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Key players profiled in the Unmanned Aerial Vehicle Market
The report covers in-depth profiling of the prominent players of the industry and includes Northrop Grumman Corporation and SZ DJI Technology Co. Ltd, AeroVironment, Inc., Elbit Systems Ltd., Lockheed Martin Corporation., BAE Systems PLC., Airbus SE, Textron Inc., Teledyne FLIR LLC, and Saab AB.Furthermore, it offers a detailed analysis of the competitive landscape of the market with massive data on recent trends, technological developments, product advancements, methodologies, and strategic business decisions such as mergers and acquisitions, joint ventures, collaborations, and product launches, among others.
Unmanned Aerial Vehicle Market Segmentation by Type and Apllications
Emergen Research has segmented Unmanned Aerial Vehicle market based on product, point of sale, technology, system, wing type, application, end-use, and region:
OEM segment is expected to lead in terms of revenue contribution to the global market over the forecast period owing to the majority of the manufacturing and changes required in UAVs being performed at the OEM level.
Key Highlights from the Unmanned Aerial Vehicle Market
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Consumer
Commercial
Government and Law Enforcement
Military and Defense
End-Use Outlook (Revenue, USD Billion; 2019–2030)
Combat Support
Intelligence, Surveillance, and Reconnaissance (ISR)
Firefighting
Search and Rescue
Surveying and Mapping
Transportation and Warehouse
Application Outlook (Revenue, USD Billion; 2019–2030)
Rotary Wing
Fixed Wing
Wing Type Outlook (Revenue, USD Billion; 2019–2030)
UAV Software
UAV Propulsion
UAV Payloads
UAV Avionics
UAV Airframe
System Outlook (Revenue, USD Billion; 2019–2030)
Fully Autonomous
Optionally Piloted
Remotely Piloted
Technology Outlook (Revenue, USD Billion; 2019–2030)
OEM
Aftermarket
Point of Sale Outlook (Revenue, USD Billion; 2019–2030)
Special Purpose UAV
Tactical and Strategic UAV
Small UAV
Product Outlook (Revenue, USD Billion; 2019–2030)
Commercial segment revenue is expected to expand rapidly in terms of revenue during the forecast period because it can be related to drone technology breakthroughs and developments.
Asia Pacific is expected to register a considerably rapid growth rate in global Unmanned Aerial Vehicle market over the forecast period owing to increasing commercial usage of drones in the countries in the region.
Key Objectives of the Global Unmanned Aerial Vehicle Market Report:
An all-inclusive analysis and forecast estimation of the market have been included in this report.
The report offers valuable insights into the major drivers, limitations, opportunities, and challenges faced by the global Unmanned Aerial Vehicle market and its leading players.
The report sheds light on the prominent market contenders, as well as their business strategies and long-term expansion plans.
Regional Segmentation
North America (U.S., Canada)
Europe (U.K., Italy, Germany, France, Rest of EU)
Asia Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)
Latin America (Chile, Brazil, Argentina, Rest of Latin America)
Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
In conclusion, the report provides a qualitative and quantitative analysis of the Global Unmanned Aerial Vehicle market, including the global and regional analysis of the market. The study covers critical information and factual data about the Unmanned Aerial Vehicle market industry, along with an in-depth statistical analysis of the market drivers, limitations, growth prospects, opportunities, and threats. On the basis of the current market scope, the report provides an extensive analysis of how the Unmanned Aerial Vehicle market is expected to fare in the forecast timeline. The report utilizes advanced analytical tools to offer an estimation of the outlook of the global state of the Unmanned Aerial Vehicle market industry.
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