Commercial UAV Market Size, Share & Growth | Forecast 2031
Commercial UAV Market Size, Share & Growth | Forecast 2031
Segments - Commercial UAV Market by Applications (Government, Energy, Agriculture, and Media & Entertainment), Products (Rotary Blade, Nano, Fixed Wing, and Hybrid), and Regions (Asia Pacific, North America, Latin America, Europe, and Middle East & Africa) - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast 2023 – 2031
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| Report ID :ICT-SE-3347
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| 175 Pages
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Report Description
Commercial UAV Market Outlook 2031
The global commercial UAV market size was USD 8.77 Billion in 2022 and is anticipated to reach USD 69.20 Billion by 2031 register a considerable CAGR 25.8% during the forecast period, 2023-2031. The growth of the market is attributed to the surging applications in the retail industry as well as the government sectors.
An unmanned aerial vehicle (UAV) is a drone, which is a flying robot controlled by software and equipped with numerous sensors and GPS. In a war zone, it is commonly utilized by military officials to protect the pilot's life. Recently UAVs also added a role to civilians by performing commercial tasks to help businesses, such as drone-based delivery services surveillance, agriculture, photography, videography, and others.
The COVID-19 outbreak has brought negative impact on the market. Due to the lockdown imposed by governments globally, the UAVs market faced supply chain disruptions, which is likely to hinder the market expansion. The market is expected to recover soon as the emergency lockdown is gradually lifted and manufacturing plants are resuming their operations due to the sharp decline in the number of the COVID cases in many countries.
Commercial UAV Market Trends, Drivers, Restraints, and Opportunities
- Increasing adoption for UAVs in commercial applications is one of the key factors driving the market growth.
- Capabilities to offer significant advantages, such as cost reduction and risk mitigation is expected to boost the market growth in the coming years.
- Instances related to use of UAVs in drug trafficking and terror attacks is anticipated to hinder the market expansion during the forecast period.
- Stringent rules imposed by aviation regulatory bodies in usage of UAVs commercially presents a major challenge. This is anticipated to hamper the market growth in the projected period.
- Ongoing technological advancement in UAVs is projected to create significant growth opportunities for the market in the near future.
Scope of Commercial UAV Market Report
The report on the global commercial UAV market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.
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Attributes |
Details |
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Report Title |
Commercial UAV Market - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast |
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Base Year |
2022 |
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Historic Data |
2016–2021 |
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Forecast Period |
2023–2031 |
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Segmentation |
Applications (Government, Energy, Agriculture, and Media & Entertainment) and Products (Rotary Blade, Nano, Fixed Wing, and Hybrid) |
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Regional Scope |
Asia Pacific, North America, Latin America, Europe, and Middle East & Africa |
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Report Coverage |
Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast |
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Key Players Covered in the Report |
Parrot SA; Textron Inc.; BAE Systems PLC; DJI; Elbit Systems Ltd.; General Atomics; AeroVironment, Inc.; Israel Aerospace Industries; Lockheed Martin Corp.; The Boeing Company; and Northrop Grumman Corp. |
Commercial UAV Market Segment Insights
Government segment to grow at a rapid pace
Based on applications, the global commercial UAV market is segmented into government, energy, agriculture, and media & entertainment. The government segment is expected to grow at a rapid pace during the forecast period owing to the increased use of UAVs in security, law enforcement, and surveillance activities.
However, the agriculture segment is anticipated to hold a key share of the market in the coming years due to the increased usage of UAVs in crop management by clicking pictures of fields and offering farmers with definitive information related to soil and crops.
Rotation in several direction to drive rotary blade segment
On the basis of products, the market is segregated into rotary blade, nano, fixed wing, and hybrid. The rotary blade segment is projected to expand at a considerable CAGR during the forecast period attributed to the ability to rotate in several directions along with hovering in a particular position. On the other hand, the fixed wing segment is anticipated to account for a major market share during the forecast period due to the high demand in aerial mapping, topographic surveys, and terrain modeling of larger areas.
North America to constitute a key market share
In terms of regions, the global commercial UAV market is classified as Asia Pacific, North America, Latin America, Europe, and Middle East & Africa. North America is expected to constitute a key share of the market during the projected period owing to the increasing applications in the commercial sectors and high production in the region.
However, the market of Asia Pacific is anticipated to expand at a rapid pace during the forecast period attributed to the building retrofits and upgrades in policy framework related to the use of drones in commercial sectors across the region.
Segments
The global commercial UAV market has been segmented on the basis of
Applications
- Government
- Energy
- Agriculture
- Media & Entertainment
Products
- Rotary Blade
- Nano
- Fixed Wing
- Hybrid
Regions
- Asia Pacific
- North America
- Latin America
- Europe
- Middle East & Africa
Key Players
- Parrot SA
- Textron Inc.
- BAE Systems PLC
- DJI
- Elbit Systems Ltd.
- General Atomics
- AeroVironment, Inc.
- Israel Aerospace Industries
- Lockheed Martin Corp.
- The Boeing Company
- Northrop Grumman Corp.
Competitive Landscape
Key players competing in the global commercial UAV market are Parrot SA; Textron Inc.; BAE Systems PLC; DJI; Elbit Systems Ltd.; General Atomics; AeroVironment, Inc.; Israel Aerospace Industries; Lockheed Martin Corp.; The Boeing Company; and Northrop Grumman Corp.
As part of their efforts to expand their client base and acquire a competitive advantage over competitors, manufacturers operating in the market have adopted various strategic initiatives, such as partnerships, collaborations, and mergers & acquisitions. Moreover, companies are focusing on investment in R&D for development and launching of new products to maintain their competitive positions in the market.
Table Of Content
1. Executive Summary2. Assumptions and Acronyms Used
3. Research Methodology
4. Commercial UAV Market Overview
4.1. Introduction
4.1.1. Market Taxonomy
4.1.2. Market Definition
4.2. Macro-Economic Factors
4.2.1. Industry Outlook
4.3. Commercial UAV Market Dynamics
4.3.1. Market Drivers
4.3.2. Market Restraints
4.3.3. Opportunity
4.3.4. Market Trends
4.4. Commercial UAV Market - Supply Chain
4.5. Global Commercial UAV Market Forecast
4.5.1. Commercial UAV Market Size (US$ Mn) and Y-o-Y Growth
4.5.2. Commercial UAV Market Size (000’ Units) and Y-o-Y Growth
4.5.3. Commercial UAV Market Absolute $ Opportunity
5. Global Commercial UAV Market Analysis and Forecast by Applications
5.1. Market Trends
5.2. Introduction
5.2.1. Basis Point Share (BPS) Analysis by Applications
5.2.2. Y-o-Y Growth Projections by Applications
5.3. Commercial UAV Market Size and Volume Forecast by Applications
5.3.1. Government
5.3.2. Energy
5.3.3. Agriculture
5.3.4. Media & Entertainment
5.4. Absolute $ Opportunity Assessment by Applications
5.5. Market Attractiveness/Growth Potential Analysis by Applications
6. Global Commercial UAV Market Analysis and Forecast by Region
6.1. Market Trends
6.2. Introduction
6.2.1. Basis Point Share (BPS) Analysis by Region
6.2.2. Y-o-Y Growth Projections by Region
6.3. Commercial UAV Market Size and Volume Forecast by Region
6.3.1. North America
6.3.2. Latin America
6.3.3. Europe
6.3.4. Asia Pacific
6.3.5. Middle East and Africa (MEA)
6.4. Absolute $ Opportunity Assessment by Region
6.5. Market Attractiveness/Growth Potential Analysis by Region
6.6. Global Commercial UAV Demand Share Forecast, 2019-2026
7. North America Commercial UAV Market Analysis and Forecast
7.1. Introduction
7.1.1. Basis Point Share (BPS) Analysis by Country
7.1.2. Y-o-Y Growth Projections by Country
7.2. North America Commercial UAV Market Size and Volume Forecast by Country
7.2.1. U.S.
7.2.2. Canada
7.3. Absolute $ Opportunity Assessment by Country
7.4. North America Commercial UAV Market Size and Volume Forecast by Applications
7.4.1. Government
7.4.2. Energy
7.4.3. Agriculture
7.4.4. Media & Entertainment
7.5. Basis Point Share (BPS) Analysis by Applications
7.6. Y-o-Y Growth Projections by Applications
7.7. Market Attractiveness/Growth Potential Analysis
7.7.1. By Country
7.7.2. By Product Type
7.7.3. By Application
7.8. North America Commercial UAV Demand Share Forecast, 2019-2026
8. Latin America Commercial UAV Market Analysis and Forecast
8.1. Introduction
8.1.1. Basis Point Share (BPS) Analysis by Country
8.1.2. Y-o-Y Growth Projections by Country
8.1.3. Latin America Average Pricing Analysis
8.2. Latin America Commercial UAV Market Size and Volume Forecast by Country
8.2.1. Brazil
8.2.2. Mexico
8.2.3. Rest of Latin America
8.3. Absolute $ Opportunity Assessment by Country
8.4. Latin America Commercial UAV Market Size and Volume Forecast by Applications
8.4.1. Government
8.4.2. Energy
8.4.3. Agriculture
8.4.4. Media & Entertainment
8.5. Basis Point Share (BPS) Analysis by Applications
8.6. Y-o-Y Growth Projections by Applications
8.7. Market Attractiveness/Growth Potential Analysis
8.7.1. By Country
8.7.2. By Product Type
8.7.3. By Application
8.8. Latin America Commercial UAV Demand Share Forecast, 2019-2026
9. Europe Commercial UAV Market Analysis and Forecast
9.1. Introduction
9.1.1. Basis Point Share (BPS) Analysis by Country
9.1.2. Y-o-Y Growth Projections by Country
9.1.3. Europe Average Pricing Analysis
9.2. Europe Commercial UAV Market Size and Volume Forecast by Country
9.2.1. Germany
9.2.2. France
9.2.3. Italy
9.2.4. U.K.
9.2.5. Spain
9.2.6. Russia
9.2.7. Rest of Europe
9.3. Absolute $ Opportunity Assessment by Country
9.4. Europe Commercial UAV Market Size and Volume Forecast by Applications
9.4.1. Government
9.4.2. Energy
9.4.3. Agriculture
9.4.4. Media & Entertainment
9.5. Basis Point Share (BPS) Analysis by Applications
9.6. Y-o-Y Growth Projections by Applications
9.7. Market Attractiveness/Growth Potential Analysis
9.7.1. By Country
9.7.2. By Product Type
9.7.3. By Application
9.8. Europe Commercial UAV Demand Share Forecast, 2019-2026
10. Asia Pacific Commercial UAV Market Analysis and Forecast
10.1. Introduction
10.1.1. Basis Point Share (BPS) Analysis by Country
10.1.2. Y-o-Y Growth Projections by Country
10.1.3. Asia Pacific Average Pricing Analysis
10.2. Asia Pacific Commercial UAV Market Size and Volume Forecast by Country
10.2.1. China
10.2.2. Japan
10.2.3. South Korea
10.2.4. India
10.2.5. Australia
10.2.6. Rest of Asia Pacific (APAC)
10.3. Absolute $ Opportunity Assessment by Country
10.4. Asia Pacific Commercial UAV Market Size and Volume Forecast by Applications
10.4.1. Government
10.4.2. Energy
10.4.3. Agriculture
10.4.4. Media & Entertainment
10.5. Basis Point Share (BPS) Analysis by Applications
10.6. Y-o-Y Growth Projections by Applications
10.7. Market Attractiveness/Growth Potential Analysis
10.7.1. By Country
10.7.2. By Product Type
10.7.3. By Application
10.8. Asia Pacific Commercial UAV Demand Share Forecast, 2019-2026
11. Middle East & Africa Commercial UAV Market Analysis and Forecast
11.1. Introduction
11.1.1. Basis Point Share (BPS) Analysis by Country
11.1.2. Y-o-Y Growth Projections by Country
11.1.3. Middle East & Africa Average Pricing Analysis
11.2. Middle East & Africa Commercial UAV Market Size and Volume Forecast by Country
11.2.1. Saudi Arabia
11.2.2. South Africa
11.2.3. UAE
11.2.4. Rest of Middle East & Africa (MEA)
11.3. Absolute $ Opportunity Assessment by Country
11.4. Middle East & Africa Commercial UAV Market Size and Volume Forecast by Applications
11.4.1. Government
11.4.2. Energy
11.4.3. Agriculture
11.4.4. Media & Entertainment
11.5. Basis Point Share (BPS) Analysis by Applications
11.6. Y-o-Y Growth Projections by Applications
11.7. Market Attractiveness/Growth Potential Analysis
11.7.1. By Country
11.7.2. By Product Type
11.7.3. By Application
11.8. Middle East & Africa Commercial UAV Demand Share Forecast, 2019-2026
12. Competition Landscape
12.1. Global Commercial UAV Market: Market Share Analysis
12.2. Commercial UAV Distributors and Customers
12.3. Commercial UAV Market: Competitive Dashboard
12.4. Company Profiles (Details: Overview, Financials, Developments, Strategy)
12.4.1. Parrot SA
12.4.2. Textron Inc.
12.4.3. BAE Systems PLC
12.4.4. DJI
12.4.5. Elbit Systems Ltd.
12.4.6. General Atomics
12.4.7. AeroVironment, Inc.
12.4.8. Israel Aerospace Industries&a
Methodology
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