Market Research Report
Global Unmanned Aerial Vehicle Market Forecast 2021-2028
|Global Unmanned Aerial Vehicle Market Forecast 2021-2028|
Published: June 20, 2021
Content info: 267 Pages
Delivery time: 2-3 business days
The global unmanned aerial vehicle market is estimated to record a CAGR of 9.97% during the forecast period, 2021-2028. The rising adoption of UAVs for commercial use, high incidence of terrorism, and growing use of UAVs for aerial remote sensing promote market growth.
Unmanned aerial vehicles (UAV) do not require the onboard presence of pilots. They comprise a ground control station, sensor payloads, and aircraft components. They can be regulated by control equipment from the ground or onboard electronic equipment.
UAVs, as remote sensing platforms, is an essential means to acquire spatial data. Their advantages include cost-effective, real-time feeds, and high resolution. They are a supplement of airborne remote sensing and space-borne remote sensing. They are vastly adopted for aerial remote sensing of geological disasters, flood disasters, land supervision, meteorology disaster, and surveying & mapping, etc. Moreover, the use of UAVs for aerial remote sensings like video cameras, digital cameras, hyperspectral sensors, and laser scanners offer a vast range of applications. These include environmental and territorial data and monitoring of technological infrastructure and networks. Such aspects have increased UAVs' adoption as remote sensing platforms, which drives the overall UAV market growth. However, the lack of a skilled workforce, significant political acceptability concerns, and UAV regulatory policies & issues hinder the market growth.
The global unmanned aerial vehicle market growth evaluation includes the analysis of Europe, Asia-Pacific, North America, and Rest of World. North America is projected to dominate the global market due to the presence of a large number of companies and the growing defense expenditure.
The intense competitive rivalry is attributed to new product developments and increasing expansions. Aerovironment Inc, Elbit Systems Ltd, 3D Robotics Inc, BAE Systems Inc, Aeronautics Ltd, etc., are among the leading market players.