PUBLISHER: SkyQuest | PRODUCT CODE: 1183340
PUBLISHER: SkyQuest | PRODUCT CODE: 1183340
Global Unmanned Aerial Vehicle Market was valued at USD 26.3 billion in the year 2021 and it is expected to reach USD 58.95 billion by 2028, increasing at a CAGR of 12.22% over the forecast period (2022-2028).
Unmanned aerial vehicles (UAVs) are remotely operated or piloted aircraft that play a significant role in both the commercial and defense sectors. These unmanned aerial vehicles, sometimes known as "drones," are frequently used in a variety of military and defense duties, most notably border surveillance. Defense and security, logistics and transportation, construction and mining, insurance, academic research, agriculture, energy and power, media and entertainment, wildlife and forestry, and others are some of the key end-user industry verticals that use the products in the global unmanned aerial vehicle (UAV) market.
Top-down and bottom-up approaches were used to estimate and validate the size of the global unmanned aerial vehicle market and to estimate the size of various other dependent submarkets. The research methodology used to estimate the market size includes the following details: The key players in the market were identified through secondary research, and their market shares in the respective regions were determined through primary and secondary research. This entire procedure includes the study of the annual and financial reports of the top market players and extensive interviews for key insights from industry leaders such as CEOs, VPs, directors, and marketing executives. All percentage shares split, and breakdowns were determined by using secondary sources and verified through Primary sources. All possible parameters that affect the markets covered in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to get the final quantitative and qualitative data.
Segments covered in this report:
The Global Unmanned Aerial Vehicle Market is segmented based on Type, End User, Application and Region. Based on Type it is categorized into Fixed Wing, Rotary Wing. Based on End User it is categorized into: Military, Public Safety & Security, Agriculture, Insurance, Energy, Mining & Quarrying, O&G, Transport & Logistics, Journalism & Media, Healthcare & Social Assistance, Arts & Entertainment. On the basis of Application, the unmanned aerial vehicle market is segmented into Military, Commercial, Government & Law Enforcement, Consumer. Based on region it is categorized into: North America, Europe, Asia-Pacific, South America, and MEA.
Driver
Due to the quick uptake and incorporation of cutting-edge technologies like artificial intelligence, cloud computing, and sense and avoid systems in these UAVs, the demand in the worldwide unmanned aerial vehicle (UAV) market is anticipated to increase over the next few years.
The incorporation of AI technologies into the goods sold in the global unmanned aerial vehicle (UAV) market has improved their security and flight capabilities while also enabling them to perform tasks like easy takeoff, data capture, analysis, navigation, and data transmission without the need for human assistance.
Restraint
UAV technology is great, but if extremists get their hands on it, it may be dangerous. Terrorists can use them to carry out numerous attacks at once, increasing the impact of each. They are a go-to weapon for terrorist organisations because they are low-cost, easy-to-use aircraft that can easily penetrate difficult terrain. Defense forces can deploy unmanned aerial vehicles (UAVs) for a variety of purposes, such as situational awareness, bomb defusing, assisting soldiers in combat, and search and rescue missions. UAVs are being employed globally for a variety of purposes, including transportation, surveillance, search and rescue, and others. However, the military must pay a great price for them.
Market Trends
In the upcoming years, increasing commercial drone usage is anticipated to become a significant market driver for unmanned aerial vehicles (UAVs). The unmanned aerial vehicle (UAV) market for drones has previously been primarily employed for border security activities. Aerial photography and product delivery are just a few of the commercial uses for the goods available in the global unmanned aerial vehicle (UAV) market. In the upcoming years, these factors are anticipated to encourage growth in the global unmanned aerial vehicle (UAV) market, along with the increasing affordability of drones used for commercial photography.