VTOL UAV Market by Application (Military, Civil & Commercial, Homeland Security), Type (Multicopter, Helicopter, Hybrid), Size (Large, Medium, Small, Micro), Propulsion, Payloads, Geography - Global Forecast to 2020
The global VTOL UAV market is estimated to be valued at USD 2,235.40 million in 2015 and is projected to reach USD 5,500 million by 2020, at a CAGR of 19.73% from 2015 to 2020. The growth in the market is attributed to factors such as increasing demand in commercial and law enforcement applications, better technological advancements, amended safety norms to perform complex operations with least human interventions, and reduced risks and cost associated with the use of VTOL UAVs.
The VTOL UAV market has not only stirred the interest of the defense organizations worldwide, but has also led to a number of investments from various public and private sector organizations. The capability of the VTOL UAVs to provide a wide range of platforms for potential applications in the civil and commercial sector has led to enormous developments in VTOL UAVs, used to aid the civilians. VTOL UAVs commercial and civil application is expected to dominate over the next ten years. This application market is expected to grow 4-5 times faster than the military market in the next ten years. Many companies are showing interest in the development of various innovative applications for VTOL UAVs.
The global VTOL UAV market by application type is the fastest-growing countries in the Asia-Pacific region. The VTOL UAV market in the countries, such as Japan and India of the Asia-Pacific region, is projected to grow at a faster pace from 2015 to 2020. The VTOL UAV market in these countries is expected grow for military and commercial applications in the next five years.
The global VTOL UAV market is a competitive market with a number of market players with niche technologies. Major strategic developments are taking place in the field of global VTOL UAV market, which exhibit high-growth potential in the near future. Dominant market players such as Northrop Grumman Corporation (U.S.), DJI (China), Lockheed Martin Corporation (U.S.) and Israel Aerospace Industries Limited (Israel) introduced several technologically advanced systems, and entered into strategic agreements and partnerships in order to keep pace with the industry trends.
Reasons to Buy the Report:
From an insight perspective, this research report has focused on various levels of analysis—industry analysis (industry trends, and PEST analysis), market share analysis of top players, supply chain analysis, and company profiles, which together comprise and discuss the basic views on the competitive landscape, emerging- and high-growth segments of the global VTOL UAV market, high-growth regions and countries and their respective regulatory policies, government initiatives, drivers, restraints, and opportunities.
The report will enrich both established firms as well as new entrants/smaller firms to gauge the pulse of the market, which in turn will help the firms in garnering a greater market, share. Firms purchasing the report could use any one or combination of the below mentioned five strategies (market penetration, product development/innovation, market development, market diversification, and competitive assessment) for strengthening their market share.
The report provides insights on the following pointers:
Market Penetration: Comprehensive information on global VTOL UAV market offered by the top 10 players in the market
Product Development/Innovation: Detailed insights on upcoming technologies, research and development activities, and new product launches in the global VTOL UAV market
Market Development: Comprehensive information about lucrative emerging markets. The report analyses the markets for various global VTOL UAV across geographies
Market Diversification: Exhaustive information about new products, untapped geographies, recent developments, and investments in the global VTOL UAV market
Competitive Assessment: In-depth assessment of market shares, strategies, products, and manufacturing capabilities of leading players in the global VTOL UAV market