The study further explores and provides an in-depth analysis of current market dynamics and recent trends, focusing on various key factors and potential growth opportunities and risks. The report focuses on leading regions and their major countries to anticipate market growth in the forecast years.
The unmanned aerial vehicle market size reached USD 23.60 Billion in 2021 and is expected to register a revenue CAGR of 14.6 % during the forecast period, according to the latest analysis by Emergen Research. Increasing commercial drones application is one of the key factors for driving the market revenue growth. Several industries have authorized the usage of drones to acquire significant amount of data to make the necessary business choices. It has become a rapidly increasing commercial market, with several uses such as construction, mining, oil gas, and agriculture across the world.
The construction sector is projected to provide a significant opportunity for market growth owing to the substantial commercial usage of mapping, observation, surveying, and inspection studies. Significant infrastructure construction projects require factual data to comprehend the ground reality and potential issues in the future. The construction industry is witnessing rapid adoption of drones of all forms and sizes. It is assisting various engineers and specialists in making wiser business decisions by mapping millions of Landsat images and information. The increasing implementation in commercial civil applications is expected to drive the market growth during the forecast period.
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Geographical Segmentation:
The latest research report entails an in-depth analysis of the current growth opportunities for various regions of the Unmanned Aerial Vehicle Market, gauging their revenue share over the forecast timeline. Furthermore, the report analyses the year-on-year growth rate of these regions over the forecast duration. The leading market regions profiled in the report are North America, Europe, Asia Pacific, Latin America, and Middle East Africa.
Market Overview:
The research report on the Unmanned Aerial Vehicle market is formulated through extensive primary and secondary research along with qualitative and quantitative analysis of vital aspects of the market. The insightful data is further validated and verified by the industry professionals. The report strives to offer deeper insights into the overall market scenario of the Unmanned Aerial Vehicle business sphere.
Some major companies in the market report include Northrop Grumman Corporation and SZ DJI Technology Co. Ltd, AeroVironment, Inc., Elbit Systems Ltd., Lockheed Martin Corporation., BAE Systems PLC., Airbus SE, Textron Inc., Teledyne FLIR LLC, and Saab AB.
Emergen Research has segmented unmanned aerial vehicle market based on product, point of sale, technology, system, wing type, application, end-use, and region:
· Product Outlook (Revenue, USD Billion; 2019–2030)
- Small UAV
- Tactical and Strategic UAV
- Special Purpose UAV
· Point of Sale Outlook (Revenue, USD Billion; 2019–2030)
- Aftermarket
- OEM
· Technology Outlook (Revenue, USD Billion; 2019–2030)
- Remotely Piloted
- Optionally Piloted
- Fully Autonomous
· System Outlook (Revenue, USD Billion; 2019–2030)
- UAV Airframe
- UAV Avionics
- UAV Payloads
- UAV Propulsion
- UAV Software
· Wing Type Outlook (Revenue, USD Billion; 2019–2030)
- Fixed Wing
- Rotary Wing
· Application Outlook (Revenue, USD Billion; 2019–2030)
- Transportation and Warehouse
- Surveying and Mapping
- Search and Rescue
- Firefighting
- Intelligence, Surveillance, and Reconnaissance (ISR)
- Combat Support
· End-Use Outlook (Revenue, USD Billion; 2019–2030)
- Military and Defense
- Government and Law Enforcement
- Commercial
- Consumer
The report addresses the following key points:
- The report provides a forecast of Unmanned Aerial Vehicle market drivers, restraints, and future opportunities for the Unmanned Aerial Vehicle market
- The report further analyses the changing market dynamics
- Regional analysis and segmentation of the Unmanned Aerial Vehicle market with analysis of the regions and segments expected to dominate the market growth
- Extensive competitive landscape mapping with profiles of the key competitors
- In-depth analysis of business strategies and collaborations such as mergers and acquisitions adopted by the key companies
- Revenue forecast, country scope, application insights, and product insights
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