Market Research Report
Europe Unmanned Aerial Vehicle Market Forecast 2021-2028
|Europe Unmanned Aerial Vehicle Market Forecast 2021-2028|
Published: June 20, 2021
Content info: 171 Pages
Delivery time: 2-3 business days
The Europe unmanned aerial vehicle market growth is set to progress at a CAGR of 9.86% during the forecast period, 2021-2028. The region is a large base for payload and raw material suppliers like Airbus S.A.S that are important contributors to the value chain of the UAV market.
Germany, the United Kingdom, Belgium, France, Poland, Italy, Russia, and Rest of Europe, are evaluated for the Europe unmanned aerial vehicle market growth assessment. In Germany, more than 99% of the companies are small and medium enterprises. The introduction of UAVs into small and medium businesses is projected to improve the productivity and state of the economy. The country invests in R&D expenditure, which benefits the investments in the UAV market. The defense budget of Germany in 2020 was $3.8 billion more than in 2019.
In France, many UAV companies are working towards the development of cutting-edge UAV technologies. The country houses some of the significant UAV developers like Safran and Thales Group. Also, the government increased its defense budget in 2020. Many start-ups are establishing themselves in the commercial UAV market. Applications like precision agriculture, aerial surveillance, and mapping offer ample growth opportunities.
In Russia, the UAV market has a minimal presence of consumer and commercial drone manufacturers and a predominance of military drone manufacturers. The country is also developing long-range attack UAVs competing with China and the U.S., who lead the combat drone race. Also, as of December 2020, a helicopter is being developed to assist anti-aircraft weapon systems in their counter-UAV mission. Such developments propel market growth in these countries.
Saab AB, Northrop Grumman Corporation, Lockheed Martin Corporation, General Atomics Aeronautical Systems Inc, Israel Aerospace Industries, etc., are among the key market players.