Unmanned Aerial Vehicle (UAV) Market by Component (Hardware, Software), Class (Mini UAVs, Micro UAVs), End User (Military, Commercial, Agriculture), Type (Fixed Wing, Rotary-Wing UAVs), Capacity, and Mode of Operation - Global Forecast to 2027
Unmanned Aerial Vehicle (UAV) Market by Component (Hardware, Software), Class (Mini UAVs, Micro UAVs), End User (Military, Commercial, Agriculture), Type (Fixed Wing, Rotary-Wing UAVs), Capacity, and Mode of Operation– Global Forecast to 2027
The research report titled “Unmanned Aerial Vehicle (UAV) Market by Component (Hardware, Software), Class (Mini UAVs, Micro UAVs), End User (Military, Commercial, Agriculture), Type (Fixed Wing, Rotary-Wing UAVs), Capacity, and Mode of Operation– Global Forecast to 2027” provides in-depth analysis of unmanned aerial vehicle market in five major geographies and emphasizes on the current market trends, market size, market share, recent developments, and forecast till 2027. The unmanned aerial vehicle (UAV) market is expected to reach $21.8 billion by 2027, at a CAGR of 14.1% during the forecast period of 2020 to 2027. Also, in terms of volume, the market is expected to grow at a CAGR of 16.2% from 2020 to 2027 to reach 13.2 million units by 2027
The growth in this market is mainly attributed to the rising adoption of UAVs in civil and commercial applications, increasing deployment of UAV in border patrolling and combating terrorism, and federal aviation administration (FAA) approved regulations to permit the use of UAVs in several industries.
The study offers a comprehensive analysis of the global unmanned aerial vehicle market with respect to components, type, class, capacity, mode of operation, end user, and geography. The global unmanned aerial vehicle market is segmented on the basis of component (UAV hardware, UAV software); class (small UAVs, strategic & tactical UAVs, special-purpose UAVs); type (fixed-wing UAVs, fixed-wing VTOL UAVs, rotary-wing UAVs); capacity (<25 Kilograms, 25-170 Kilograms, >170 Kilograms); mode of operation (remotely operated UAVs, semi-autonomous UAVs, fully autonomous UAVs); and end user (military, commercia, law enforcement, agriculture, energy & power, construction & mining, media & entertainment, wildlife & forestry, insurance). The study also evaluates industry competitors and analyses the market at a country level.
Based on component, the hardware segment is estimated to be the largest segment in terms of market share during the forecast period. The large share of this segment is mainly attributed to the growing need for robust and advanced drone hardware components to improve the lifespan and performance of drones as well as to gain competitive advantage. In addition, high focus of manufacturing companies towards development of light-weight and efficient drone structure to support performance in extreme climatic conditions is further supporting the growth of this segment.
Based on end-user, the military segment is estimated to account for the largest share of the overall unmanned aerial vehicle market in 2020. This is primarily attributed to the increased demand for autonomous UAVs for intelligence, defense, and reconnaissance (ISR) missions. Various critical operations such as border surveillance and terrorism combat also demand the deployment of unmanned aircrafts.
Geographically, the global UAV market is segmented into five major geographies, namely North America, Europe, Asia-Pacific, Latin America, and the Middle East and Africa. The North America region is estimated to command the largest share of the global unmanned aerial vehicle market in 2020. However, Asia-Pacific region is expected to witness rapid growth during the forecast period. The rapid growth of this region is mainly driven by the increasing adoption of automation and advanced technologies across a wide range of industries in countries such as China and Japan to counter the rising labor costs; supporting government initiatives across the region; and investments by major UAV companies.
The key players operating in the global unmanned aerial vehicle market are Elbit Systems Ltd. (Israel), Northrop Grumman Corporation (U.S.), General Atomics (U.S.), AeroVironment, Inc. (U.S.), Lockheed Martin Corporation (U.S.), Israel Aerospace Industries Ltd. (Israel), Parrot S.A.(France), Microdrones GmbH (Germany), PrecisionHawk Inc (U.S.), SZ DJI Technology Co., Ltd (China), 3D Robotics (U.S.), Textron Inc. (U.S.), Boeing (U.S.), Aeronautics (U.S), Saab AB (Sweden), BAE Systems plc (U.K.), Ehang (china), Raytheon Company (U.S.), Turkish Aerospace Industries (Turkey), and Yuneec International (China) among others.
Key questions answered in the report
Which are the high growth market segments in terms of the components, type, class, capacity, end-user, and countries?
What is the historical market for unmanned aerial vehicle across the globe?
What are the market forecasts and estimates from the period of 2020-2027?
What are the major drivers, restraints, and opportunities in the global unmanned aerial vehicle market?
Who are the major players in the global unmanned aerial vehicle market and what share of the market do they hold?
Who are the major players in various countries and what share of the market do they hold?
How is the competitive landscape?
What are the recent developments in the global unmanned aerial vehicle market?
What are the different strategies adopted by the major players in the global unmanned aerial vehicle market?
What are the geographical trends and high growth countries?
Who are the local emerging players in the global unmanned aerial vehicle market and how do they compete with the other players?
Scope of the report
Market by Component
UAV Flight Control Systems
UAV Navigation Systems
UAV Sense & Avoid Systems
UAV Communication Systems
UAV Propulsion Systems
UAV Ground Control Stations
UAV Launch & Recovery Systems
Market by Class
Strategic & Tactical UAVs
Market by Type
Fixed-Wing VTOL UAVs
Single Rotor wing UAVs
Multi-Rotor wing UAVs
Market by Capacity
Market by Mode of Operation
Remotely Operated UAVs
Fully Autonomous UAVs
Market by End-user
Energy & Power
Construction & Mining
Media & Entertainment
Wildlife & Forestry
Market by Geography
Rest of Europe
Rest of Asia-Pacific
Middle East and Africa
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