Global Unmanned Aerial Vehicle (UAV) Market size is projected to be valued $68.28 Billion by 2026; with a CAGR of 13.4% from 2019 to 2026. An unmanned aerial vehicle (UAV), universally known as a drone, is an aircraft without a human pilot aboard. Unmanned Aerial Vehicle is a component of an unmanned aircraft system (UAS); that comprises of a UAV, a ground-based controller, and a system of communications between the two. Compared to manned aircraft, UAVs were originally used for missions too dangerous for humans.
Increase in the procurement of military UAVs by defense forces worldwide is one of the most significant factors projected to drive the growth of the UAV market. However, lack of proper air traffic management for UAVs, restrictions Imposed on the commercial use of UAVs and issues with safety and security of UAVs may hamper the growth of the UAV market. Furthermore, increased deployment of UAVs to carry out aerial remote sensing and increased defense budgets of emerging economies are likely to create growth opportunities for
The UAV market is segmented on the basis of UAV type, application, class, system, mode of operation, range, point of sale, MTOW, and geography. On the basis of range, the UAV market has been classified into visual line of sight (VLOS), extended visual line of sight (EVLOS) and beyond the light of sight (BLOS). Application segment is bifurcated into military, civil & commercial, homeland security, and consumer. Based on class, the UAV market has been segmented into small UAVs, tactical UAVs, strategic UAVs, and special purpose UAVs. The system segment is further divided into UAV platforms by Subsystem, UAV payloads by Type and UAV data links, among others. Mode of operations segment is further bifurcated into remotely operated UAVs, semi-autonomous UAVs, and fully-autonomous UAVs. The point of sale segment is further divided into OEM and aftermarket. MTOW segment is segregated into 150 kilograms. On the basis of UAV type, UAV market is divided into fixed-wing UAVs, multirotor UAVs, single rotor UAVs, and hybrid VTOL UAVs.
Unmanned Aerial Vehicle (UAV) Market by geography is segmented into North America, Europe, Asia-Pacific and Rest of the World (RoW). The U.S. and Canada are countries under North America wherein Europe covers U.K, Germany, France, and others. Asia-Pacific covers China, India, Japan, and Rest of Asia-Pacific. RoW covers South America, Middle East, and Africa.
Major companies operating in the Unmanned Aerial Vehicle (UAV) Market are General Atomics, Northrop Grumman, Textron, Boeing, DJI, Parrot, 3D Robotics and Aeryon Labs, among others.
The key takeaways from the report
Scope of Unmanned Aerial Vehicle (UAV) Market
UAV Type Segments
Mode of Operation Segments
Point of Sale Segments