Unmanned Aerial Vehicles (UAVs) Market Size, Forecast | 2031
Unmanned Aerial Vehicles (UAVs) Market Size, Forecast | 2031
Segments - Unmanned Aerial Vehicles (UAVs) Market by Sizes (Miniature, Micro, and Heavy), Applications (Military & Defense, Agriculture, Civil & Commercial, and Construction & Mining), and Regions (Asia Pacific, North America, Latin America, Europe, and Middle East & Africa) - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast 2021 – 2028
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| Report ID :EP-4553
| 4.9 Rating
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| 186 Pages
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Report Description
The global UAV market size is expected to expand a CAGR of 11.4% during the forecast period, 2021–2028. The growth of the market is attributed to its wide use in military, surveillance, and commercial activities.
Unmanned aerial vehicles (UAVs) are aircraft systems that do not have a human pilot on board and the vehicles are controlled by remote computing system. They are frequently used in missions that are too dangerous for human aircraft to complete such as in hostage rescue efforts to find out where the hostages are. The autonomy functioning of UAV is provided by either remote control from a ground operator or on-board computers. These gadgets are primarily used during wartime since it has the advantage of avoiding humiliation and loss of life in the event that the plane is shot down or the pilot is captured. Before a mission, smaller aircraft have been deployed to acquire intelligence on hostile locations. Some devices can carry missiles and hit their targets with pinpoint accuracy. Drones are also utilized for surveillance as well as search or rescue missions. These gadgets are useful for supplying basic requirements such as food and water in places hit by natural disasters such as floods and earthquakes.
The COVID-19 pandemic has had a significant impact on the market as Drone demand rose rapidly as a result of their wide range of applications. It has been implemented considering bird's eye perspective of the devices to help in the implementation of emergency lockdown imposed by governments to curb the spread of the pandemic.
Market Trends, Drivers, Restraints, and Opportunities
- Widespread use of drones in peacekeeping and military dispute resolve efforts between countries is expected to drive the market during the forecast period.
- Usage of drones to deliver detailed information for disaster relief and application of UAVs to examine natural calamities are projected to boost the market forward.
- Ethical considerations about the use of UAVs and strict government regulations regarding the use of the devices are key challenges that pose significant hurdles to the market expansion.
- UAVs produce kinetic energy after crashes. This poses a threat to these technologies and can hinder the market growth.
- Rising use of UAVs for scientific exploration and other military research and government measures to support research and development related to UAVs are creating lucrative opportunities for the market expansion.
Scope of the Report
The report on the global 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 |
UAV Market - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast |
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Base Year |
2020 |
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Historic Data |
2018–2019 |
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Forecast Period |
2021–2028 |
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Segmentation |
Sizes (Miniature, Micro, and Heavy) and Applications (Military & Defense, Agriculture, Civil & Commercial, and Construction & Mining) |
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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 |
PLC; DJI; Elbit Systems; General Atomics; Israel Aerospace Industries; Northrop Grumman; Textron; AeroVironment; Lockheed Martin Corporation; Boeing; and BAE Systems |
Market Segment Insights
Micro segment to expand at a considerable CAGR
On the basis of sizes, the UAV market is segmented into miniature, micro, and heavy. The micro segment is projected to expand at a considerable CAGR during the forecast period as Hobbyists generally employ micro vehicles, which weigh less than one kilograms. However, the most common use for miniature vehicles weighing less than 20 kg is very popular in industrial and commercial UAV applications. Heavy UAVs are defined as those that weigh more than 20 kg and have applications in the military and defense sector especially.
Agriculture segment to hold significant share of the market
In terms of applications, the market is divided into military & defense, agriculture, civil & commercial, and construction & mining. The agriculture segment is expected to hold a significant share of the market attributed to rising demand for the devices for several monitoring applications such as crop spraying, livestock, crop, and water level monitoring. A sophisticated UAV can produce a 3D field image, which is useful for future expansion planning.
North America is anticipated to constitute a key market share
In terms of regions, the 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 high spending in the military and defense sector especially by the US. However, the market of Asia Pacific is anticipated to expand at a rapid pace during the forecast period due to use in commercial domains, primarily in the filmmaking and farming activities.
Segments
The global UAV market has been segmented on the basis of
Sizes
- Miniature
- Micro
- Heavy
Applications
- Military & Defense
- Agriculture
- Civil & Commercial
- Construction & Mining
Regions
- Asia Pacific
- North America
- Latin America
- Europe
- Middle East & Africa
Key Players
- PLC
- DJI
- Elbit Systems
- General Atomics
- Israel Aerospace Industries
- Northrop Grumman
- Textron
- AeroVironment
- Lockheed Martin Corporation
- Boeing
- BAE Systems
Competitive Landscape
Key players competing in the global UAV market are PLC; DJI; Elbit Systems; General Atomics; Israel Aerospace Industries; Northrop Grumman; Textron; AeroVironment; Lockheed Martin Corporation; Boeing; and BAE Systems. The question of whether these gadgets can be utilized to convey freight in an ethical manner is currently being under intense debate. DHL undertook a minor study experiment in 2013 to distribute pharmaceuticals using UAV. Amazon, a major US-based e-commerce company, has started its plan to adopt UAV technology to transport items.
Table Of Content
1. Executive Summary2. Assumptions and Acronyms Used
3. Research Methodology
4. 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. UAV Market Dynamics
4.3.1. Market Drivers
4.3.2. Market Restraints
4.3.3. Opportunity
4.3.4. Market Trends
4.4. UAV Market - Supply Chain
4.5. Global UAV Market Forecast
4.5.1. UAV Market Size (US$ Mn) and Y-o-Y Growth
4.5.2. UAV Market Size (000’ Units) and Y-o-Y Growth
4.5.3. UAV Market Absolute $ Opportunity
5. Global UAV Market Analysis and Forecast by Region
5.1. Market Trends
5.2. Introduction
5.2.1. Basis Point Share (BPS) Analysis by Region
5.2.2. Y-o-Y Growth Projections by Region
5.3. UAV Market Size and Volume Forecast by Region
5.3.1. North America
5.3.2. Latin America
5.3.3. Europe
5.3.4. Asia Pacific
5.3.5. Middle East and Africa (MEA)
5.4. Absolute $ Opportunity Assessment by Region
5.5. Market Attractiveness/Growth Potential Analysis by Region
5.6. Global UAV Demand Share Forecast, 2019-2026
6. North America UAV Market Analysis and Forecast
6.1. Introduction
6.1.1. Basis Point Share (BPS) Analysis by Country
6.1.2. Y-o-Y Growth Projections by Country
6.2. North America UAV Market Size and Volume Forecast by Country
6.2.1. U.S.
6.2.2. Canada
6.3. Absolute $ Opportunity Assessment by Country
6.4. Market Attractiveness/Growth Potential Analysis
6.4.1. By Country
6.4.2. By Product Type
6.4.3. By Application
6.5. North America UAV Demand Share Forecast, 2019-2026
7. Latin America 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
7.1.3. Latin America Average Pricing Analysis
7.2. Latin America UAV Market Size and Volume Forecast by Country
7.2.1. Brazil
7.2.2. Mexico
7.2.3. Rest of Latin America
7.3. Absolute $ Opportunity Assessment by Country
7.4. Market Attractiveness/Growth Potential Analysis
7.4.1. By Country
7.4.2. By Product Type
7.4.3. By Application
7.5. Latin America UAV Demand Share Forecast, 2019-2026
8. Europe 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. Europe Average Pricing Analysis
8.2. Europe UAV Market Size and Volume Forecast by Country
8.2.1. Germany
8.2.2. France
8.2.3. Italy
8.2.4. U.K.
8.2.5. Spain
8.2.6. Russia
8.2.7. Rest of Europe
8.3. Absolute $ Opportunity Assessment by Country
8.4. Market Attractiveness/Growth Potential Analysis
8.4.1. By Country
8.4.2. By Product Type
8.4.3. By Application
8.5. Europe UAV Demand Share Forecast, 2019-2026
9. Asia Pacific 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. Asia Pacific Average Pricing Analysis
9.2. Asia Pacific UAV Market Size and Volume Forecast by Country
9.2.1. China
9.2.2. Japan
9.2.3. South Korea
9.2.4. India
9.2.5. Australia
9.2.6. Rest of Asia Pacific (APAC)
9.3. Absolute $ Opportunity Assessment by Country
9.4. Market Attractiveness/Growth Potential Analysis
9.4.1. By Country
9.4.2. By Product Type
9.4.3. By Application
9.5. Asia Pacific UAV Demand Share Forecast, 2019-2026
10. Middle East & Africa 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. Middle East & Africa Average Pricing Analysis
10.2. Middle East & Africa UAV Market Size and Volume Forecast by Country
10.2.1. Saudi Arabia
10.2.2. South Africa
10.2.3. UAE
10.2.4. Rest of Middle East & Africa (MEA)
10.3. Absolute $ Opportunity Assessment by Country
10.4. Market Attractiveness/Growth Potential Analysis
10.4.1. By Country
10.4.2. By Product Type
10.4.3. By Application
10.5. Middle East & Africa UAV Demand Share Forecast, 2019-2026
11. Competition Landscape
11.1. Global UAV Market: Market Share Analysis
11.2. UAV Distributors and Customers
11.3. UAV Market: Competitive Dashboard
11.4. Company Profiles (Details: Overview, Financials, Developments, Strategy)
11.4.1. PLC
11.4.2. DJI
11.4.3. Elbit Systems
11.4.4. General Atomics
11.4.5. Israel Aerospace Industries
11.4.6. Northrop Grumman
11.4.7. Textron
11.4.8. AeroVironment
11.4.9. <
Methodology
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