Unmanned Aerial Vehicle Market

2021-2030 Analysis and Review Unmanned Aerial Vehicle Market

Unmanned Aerial Vehicle Market

Global Unmanned Aerial Vehicle Market By MTOW (<-25 kg, 25-150kg,>150 kg), By Range (Visual Line of Sight, Extended Visual Line of Sight), By Class (Small, Tactical, Special Purpose UAVs), By System (Platforms, Payloads, UAV data links, UAV ground control system), By Application (Military, Civil & Commercial, Home & Security, Consumer), By Type (Fixed Wing UAVs, Multirotar UAVs, Singlerotar and Hybrid CTOL UAVs) - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2021 – 2030

25-10-2021 REP-HC-139298 95 pages Format

Global unmanned aerial vehicle market is estimated to grow at a CAGR of 14.4% during the forecast period 2021-2030. Global unmanned aerial vehicle market is primarily driven by rising commercial applications of UAVs and increasing need for advanced patrolling of marine borders. UAVs are being adopted by industries agriculture, logistics, E-commerce, film production and others for parcel delivery, monitoring, photography and other applications. Further, unmanned aerial vehicle are finding application in maritime monitoring as maritime crimes poses a big threat to the safety of seafarers, international trade and regional stability. Additionally, pandemic times have reinforced the need of remote delivery to minimize interaction with the customers. 

Unmanned Aerial Vehicle Market

Increasing Adoption of UAVs in Commercial Segment Remains as The Key Segment:

Growing commercial applications of the UAVs is set to be the major driver for the growth of global unmanned aerial vehicles market growth. UAVs are used in plethora of application including construction, aerial photography, mining, insurance, transportation & logistics, agriculture, product deliveries and others. in the agriculture sector, UAVs serve the purpose of analyzing soils and drainage along with assessing crop health. According to Food & Agricultural Organization of the United Nations, the adoption of drones or UAVs could significantly enhance damage and risk assessments that could bring a revolution in the preparation and response process of disasters. Since any natural calamity end up affecting the livelihoods of farmers, fisheries coupled with country’s food security. Other than the agricultural applications, the demand of UAVs are also increasing in the construction sector. The UAVs serve the purpose of examining terrain at future construction sites, for tracking progress of existing construction sites, maintaining the inventory assets, to inspect facilities of maintenance and others. Furthermore, other than providing high resolution 3D images and recordings at low prices, the UAVs also offer safety benefits through replacing humans in risky operations. Moreover, according to Institution of Civil Engineers (UK), the UAVs serve various applications in the construction industry that include earthwork volumetric surveys &3D modelling, topographic mapping, asset inventory surveys, environmental surveys, thermal inspection surveys and others.

Military Segment Remains Largest Among Applications

Global unmanned aerial vehicle market has been segmented on the basis of type, application, class, system, mode of operation, range and MTOW. Military segment leads in global unmanned aerial vehicle by application market in terms of revenue with around 53.42% market share in 2020. Rising adoption of unmanned aerial vehicle in military application for surveillance purposes, reconnaissance operations and for attack are some of the factors fueling up the demand for military unmanned aerial vehicle market. With rising defense budget across the globe, military is stipulated to attract majority of the unmanned aerial vehicle market players.

Global Beyond Line of Sight (BLOS) Find Largest Application with Military Sector

BLOS in the range segment led the global unmanned aerial vehicle market by capturing the largest market share of over 52% in 2020. BLOS market is anticipated to rise at a CAGR of 14.4% during the forecast period of 2022-2030. Global Beyond Line of Sight (BLOS) UAVs majorly finds application in the military sector. Increasing military spending to acquire UAVs for to counter insurgency and for aerial strikes act as primary driver for the growth of BLOS market. Furthermore, other countries such as India and China are also investing towards procurement of UAVs for surveillance and air strike purposes.

North America Takes the Lion’s Share

Geographically, global unmanned aerial vehicles market has been segmented into North America, Europe, Asia Pacific and Rest of World (ROW). North America accounts the largest share in global unmanned aerial vehicles market by capturing largest market share in terms of revenue of around 49.05% in 2020. Up-surging trend owing rise in defense expenditure for the procurement and research and development of UAV coupled with high adoption of Unmanned Aerial Vehicle (UAV) in the commercial sector the primary factor driving the adoption of unmanned aerial vehicles in the region. Furthermore, companies such as Amazon (U.S.), UPS (U.S.) and Walmart (U.S.) are trying to adopt unmanned aerial vehicles in delivery applications.

Historical &Forecast Period

This research report presents the analysis of each segment from 2020 to 2030 considering 2021 as the base year for the research. Compounded annual growth rate (CAGR) for each respective segment are calculated for the forecast period from 2021 to 2030.

Report Methodology

Market revenues and CAGR were derived from primary and secondary research. Both quantitative and qualitative trends were considered for extrapolation of market revenues. The derived market estimates were further validated from top-down, bottom strategies and primary research. The scope of the market is limited to the following segments of product categories and region.

By MTOW (2020-2030; US$ Mn)

  • 25-150 Kilograms
  • >150 Kilograms

By Range(2020-2030; US$ Mn)

  • Visual Line of Sight
  • Extended Visual Line of Sight
  • Beyond Line of Sight

By Class(2020-2030; US$ Mn)

  • Small UAVS
  • Tactical UAVs
  • Strategic UAVs
  • Special Purpose UAVs

By System (2020-2030; US$ Mn)

  • Platforms
  • Payloads
  • UAV data links
  • UAV ground control system
  • UAV launch and recovery system

By Application (2020-2030; US$ Mn)

  • Military
  • Civil & Commercial
  • Homeland Security
  • Consumer

By Type(2020-2030; US$ Mn)

  • Fixed Wing UAVs
  • Multirotar UAVs
  • Singlerotar UAVs
  • Hybrid CTOL UAVs

By Region (2020-2030; US$ Mn)

  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Africa

Global Impact of Covid-19 Segment (2020-2021; US$ Mn)

  • Pre Covid-19 situation
  • Post Covid-19 situation
     

Key questions answered in this report

  • What are the key market segments in current scenario and in the future by product categories?
  • What are the key market segments in current scenario and in the future by regions?
  • What is the key impact of Covid-19 over market revenues and market determinants in the global unmanned aerial vehicles market?
  • What are the primary and secondary macro and micro factors influencing the market growth currently and during the forecast period?
  • What are the primary and secondary macro and micro factors deterring the market growth currently and during the forecast period?
  • How to overcome the current market challenges and leverage the opportunities in each of the market segment?
  • Who are the key players in the operational predictive maintenance market and what are their key product categories and strategies?
  • What are the key strategies – mergers/acquisitions/R&D/strategic partnerships etc. that companies are deploying to enhance market revenues and growth?

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