Increasing Terrorism Worldwide and High R&D in Drone Technology Increased the demand of the Military UAV Drones globally


The global unmanned Arial vehicles (UAV) drone market is anticipated to grow at a CAGR of 21.7% during the forecast year 2022-2030. Increasing terrorism worldwide and high R&D in drone technology increased the demand of the military UAV Drones globally. In military 150 kg drone market holds the largest market share with 58.97% of the total military UAV drone market in 2021. In addition, 600 kg UAV drones hold the fastest market growth with 25.1% CAGR growth during the forecast period. 

Military UAV drones clearly dominates the by type segment of the UAV drones market, it had a market share of 88.15% in 2021 and is expected to grow at a CAGR of 21.5% during the forecast period of 2022-2030. Large number of benefits associated with the drones has led to high application of these devices in the military. Some of the factors leading high application UAV drones in military are safety to the manual lives, customization leading to higher rate of accuracy and higher research and development and huge investment in defense activities in countries such as China and the United States. 

Commercial type UAV drones are expected to grow with a CAGR of 23.3% during the forecast period. The industry is in nascent stage when compared to the military UAV drones and held a market share of 10.79% in the year 2021. The commercial application of UAV drones has gained higher application in the recent times, earlier the application had to face large number of strict regulations and civil application of commercial application was even banned in large number of areas such as the US due to large number of social issues such as privacy and security concerns. 

North America held the largest market share with 59% of the global UAV drone market in 2021 due to rising spending in military and technological advancement. The North America UAV drone market is valued to grow at a CAGR of 17.8% during the forecast year. The U.S. is major contributor to the growth of UAV drone market in North America. In addition, the Asia Pacific is expected to be the fastest growing market with a CAGR of 27.6% in the forecast period. China and India are the key countries contributing to the market growth of UAV Drone in Asia Pacific. Growing investment in defense has increased the market in the Asia Pacific region. 

Companies present in the UAV drones market are continuously focusing on increasing their market revenue by adopting numerous strategic initiatives in terms of partnerships, mergers & acquisitions, product launch and various others. DJI (Da-Jiang Innovations Science and Technology Co., Ltd.) remains as the market leader. The intensity of competitive rivalry is high with the availability of major players such as DJI and parrot & 3D Robotics etc. It is expected that more companies will enter into this market, which will increase more competition. Thus, the intensity of competitive rivalry is high in the market.

KEY MARKET MOVEMENTS

  • The global unmanned Arial vehicles (UAV) drone market is anticipated to grow at a CAGR of 21.7% during the forecast year 2022-2030.
  • In military 150 kg drone market holds the largest market share with 58.97% of the total military UAV drone market in 2021. 
  • In addition, 600 kg UAV drones hold the fastest market growth with 25.1% CAGR growth during the forecast period. 
  • Commercial type UAV drones are expected to grow with a CAGR of 23.3% during the forecast period. 
  • The industry is in nascent stage when compared to the military UAV drones and held a market share of 10.79% in the year 2021. 
  • North America held the largest market share with 59% of the global UAV drone market in 2021 due to rising spending in military and technological advancement. 
  • The North America UAV drone market is valued to grow at a CAGR of 17.8% during the forecast year. 
  • Asia Pacific is expected to be the fastest growing market with a CAGR of 27.6% in the forecast period. 
  • The intensity of competitive rivalry is high with the availability of major players such as DJI and parrot & 3D Robotics etc. 
  • It is expected that more companies will enter into this market, which will increase more competition.

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