The report presents an in-depth assessment of the Unmanned Aerial Vehicles (UAV) including enabling technologies, key trends, market drivers, challenges, standardization, regulatory landscape, deployment models, operator case studies, opportunities, future roadmap, value chain, ecosystem player profiles and strategies. The report also presents forecasts for Unmanned Aerial Vehicles (UAV) investments from 2019 till 2024.
The unmanned aerial vehicles (UAV) market is anticipated to register a CAGR of more than 10%, during the forecast period (2019-2024).
Boeing, BAE Systems PLC, General Atomics, Israel Aerospace Industries Ltd, and Elbit Systems Ltd are some of the prominent players in the military segment of the market, while the commercial UAV segment is dominated by companies, such as DJI and Parrot Drones SaA, which have a large share in the small UAV market. Growing military procurements of HALE, MALE, and tactical UAVs may help the military drone manufacturers to further increase their market share to a huge extent, as compared to small commercial UAV manufactures.
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Scope of the Report
UAVs are pilotless aircraft, either controlled by remote control by a human operator, or autonomously by onboard computers, and uses aerodynamic forces to navigate and perform desired functions. Medium-altitude long endurance (MALE); High-altitude long endurance (HALE), tactical unmanned aerial vehicles (TUAV), and vertical takeoff and landing (VTOL) UAV are included in the study. Others segment includes unmanned combat aerial vehicles (UCAVs) and small UAVs. UCAVs are UAVs that usually carry aircraft ordnance, like missiles, and are used for drone strikes.
Key Market Trends
Military Segment to Dominate the Market during the Forecast Period
Military was the leading segment in terms of revenue, as of 2018. However, the commercial segment is expected to register the fastest CAGR. The increase in defense budgets and growing tensions among countries in Asia-Pacific and Middle East have driven the market for UAVs in the military segment, as the use of UAVs reduces the risk of losing human lives. The main reason behind the growth of the commercial UAV market, during the forecast period, is the increase in demand from various applications in the civil and commercial segments.
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Asia-Pacific May Experience the Fastest Growth in the UAV Market
Currently, North America holds the major share in the UAV market, globally. This is primarily due to the growing use of unmanned aerial vehicles, both for commercial and military applications. However, Asia-Pacific is expected to register the highest CAGR, during the forecast period, due to growing popularity and changes in regulations in the region. The procurement of UAVs in the region is steadily growing, thereby driving the growth of the Asia-Pacific UAV market.
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What are the market factors that are explained in the report?
–Key Strategic Developments: The study also includes the key strategic developments of the market, comprising R&D, new product launch, M&A, agreements, collaborations, partnerships, joint ventures, and regional growth of the leading competitors operating in the market on a global and regional scale.
–Key Market Features: The report evaluated key market features, including revenue, price, capacity, capacity utilization rate, gross, production, production rate, consumption, import/export, supply/demand, cost, market share, CAGR, and gross margin. In addition, the study offers a comprehensive study of the key market dynamics and their latest trends, along with pertinent market segments and sub-segments.
–Analytical Tools: Unmanned Aerial Vehicles (UAV) Market report includes the accurately studied and assessed data of the key industry players and their scope in the market by means of a number of analytical tools. The analytical tools such as Porter’s five forces analysis, feasibility study, and investment return analysis have been used to analyzed the growth of the key players operating in the market.
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