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Unmanned Aerial Vehicle Market Growth – CAGR of 14.3% | Market Trends –Increasing defense budget

Unmanned Aerial Vehicle Market Growth

According to a recent analysis by Emergen Research, the global unmanned aerial vehicle (UAV) market size is forecast to reach USD 56.18 Billion by 2027from USD 19.22 Billion in 2019, delivering a CAGR of 14.3% through the forecast duration. The market for unmanned aerial vehicle (UAV) market is observing high demand attributed to the rising deployment of unmanned aerial vehicles in intelligence, surveillance, and reconnaissance (ISR) in the military & defense sector.

Beyond the visual line of sight, UAVs are the most advantageous for a large amount of data collections with fewer deployments. Moreover, unmanned aerial vehicles are cost-effective than traditional deployment models, including manned helicopters. With the deployment of surveillance & reconnaissance robots and UAVs to fetch area layout and locate hostile elements, the number of war field casualties can be considerably reduced. Increasing deployment of UAVs for accomplishing military missions will foster the global unmanned aerial vehicle (UAV) market size through 2027.

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Key Highlights From The Report

  • Unmanned aerial vehicles (UAVs) are seeing high demand from the military & defense sector due to its benefits in significantly reducing risk with activities like offensive strikes and reconnaissance.
  • In the regional landscape, the Asia Pacific region is projected to be the fastest-growing market for unmanned aerial vehicles during the analysis period. China is expected to contribute significantly to the military unmanned aerial vehicle market revenue share in the coming years on account of increased investment in the country’s military & defense sector. In addition, growing demand for UAVs for law enforcement and for commercial goods delivery in the country will foster marker size.
  • Key players operating in the global unmanned aerial vehicle (UAV) market are Elbit Systems, Boeing, Aerovironment, Thales Group, BAE Systems, 3D Robotics, Airbus, Israel Aerospace Industries, Textron, and Northrop Grumann Corporation, among others.
  • Thales Group, an aerospace company, entered into a partnership agreement with Skyports, an urban air mobility infrastructure provider, in May 2020 to conduct a trial for urgent medical cargo delivery, comprising of COVID-19 rapid test and PPE kits through drones between distant and remote medical centers.

Emergen Research has segmented the global unmanned aerial vehicle (UAV) market on the basis of product type, wing type, operation mode, range, maximum takeoff weight (MTOW), system, application, end-user, and region:

  • Product Type Outlook (Revenue, USD Billion; 2017-2027)
    • Small UAVs
    • Strategic & Tactical UAVs
    • Special Purpose UAVs
  • Wing Type Outlook (Revenue, USD Billion; 2017-2027)
    • Fixed Wing
    • Rotary Wing
  • Operation Mode Outlook (Revenue, USD Billion; 2017-2027)
    • Remotely Piloted
    • Optionally Piloted
    • Fully Autonomous
  • Range Outlook (Revenue, USD Billion; 2017-2027)
    • Visual Line of Sight
    • Extended Visual Line of Sight
    • Beyond Line of Sight
  • Maximum Takeoff Weight (MTOW) Outlook (Revenue, USD Billion; 2017-2027)
    • < 25 Kg
    • 25 – 170 Kg
    • > 170 Kg
  • System Outlook (Revenue, USD Billion; 2017-2027)
    • Platforms
    • Payloads
    • Data Links
    • Ground Control Stations
    • Launch & Recovery Systems
  • Application Outlook (Revenue, USD Billion; 2017-2027)
    • Intelligence, Surveillance, and Reconnaissance (ISR)
    • Combat Support
    • Search and Rescue
    • Transportation
    • Explosive Ordnance Disposal (EOD)
    • Surveying & Mapping
    • Firefighting
    • Traffic Management
    • Warehousing
    • Others
  • End-User Outlook (Revenue, USD Billion; 2017-2027)
    • Military & Defense
    • Commercial
    • Government & Law Enforcement
    • Consumers
  • Regional Outlook (Revenue, USD Billion; 2017-2027)
    • North America
      1. U.S.
      2. Canada
      3. Mexico
    • Europe
      1. Germany
      2. U.K.
      3. France
      4. BENELUX
      5. Rest of Europe
    • Asia Pacific
      1. China
      2. Japan
      3. South Korea
      4. Rest of APAC
    • Latin America
      1. Brazil
      2. Rest of LATAM
    • Middle East & Africa
      1. Saudi Arabia
      2. U.A.E.
      3. Rest of MEA

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