Global Unmanned Aerial Vehicle Market Insights Forecasts to 2032
- The Global Unmanned Aerial Vehicle Market Size was valued at USD 27.4 Billion in 2022.
- The Market is growing at a CAGR of 8.99% from 2022 to 2032
- The Worldwide Unmanned Aerial Vehicle Market is expected to reach USD 64.8 Billion by 2032
- Asia Pacific is expected to grow the fastest during the forecast period
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The Global Unmanned Aerial Vehicle Market Size is expected to reach USD 64.8 Billion by 2032, at a CAGR of 8.99% during the forecast period 2022 to 2032.
Unmanned aerial vehicle (UAV) is a type of aerial transportation that works without onboard crew or passengers and operates remotely, autonomously, or both. UAVs are next-generation aircraft used for surveillance, assessment, logistics, photography, and among other applications. The introduction of rules and regulations regulating the use of unmanned aerial vehicles by various countries has a direct impact on the market for unmanned aerial vehicles. Drones are the most common type of UAV used in the world. The increasing use of smart technology for surveillance, analysis, and imaging, among other things, is predicted to stimulate the expansion of unmanned aerial vehicle (UAV). Unmanned aerial vehicles (UAVs) have been widely used by defense forces around the world. However, a lot of expenditures have recently been made by public and private sector organizations to build new and advanced UAVs to meet their needs. The potential for UAVs to be used in a variety of civil and commercial applications has resulted in technological improvements. In the next ten years, the civil and commercial application section of the UAV market is expected to grow significantly.
Global Unmanned Aerial Vehicle Market Report Coverage
|Market Size in 2022:||USD 27.4 Billion|
|Forecast Period 2022-2032 CAGR:||8.99%|
|2032 Value Projection:||USD 64.8 Billion|
|Historical Data for:||2018-2021|
|No. of Pages:||200|
|Tables, Charts & Figures:||110|
|Segments covered:||By Application, By Type, By System, By Technology, By Region and COVID-19 Impact Analysis.|
|Companies Covered:||DJI, Parrot, Go Pro, Yuneec, Hexagon, Delair, AeroVironment Inc., 3D Robotics, Holy Stone, Autel Robotics, Sense Fly, Kesper Drone and other key vendors.|
|Pitfalls & Challenges:||COVID-19 Empact, Challenge, Future, Growth, & Analysis|
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Since a few years ago, there has been a significant increase in demand for UAVs in many nations as a result of the development of drone technology and the multiple uses it provides. With an increase in enemy trespassing and border crossing, many nations have reported making significant UAV purchases. It has been designed to carry out tasks like collecting information, surveillance, and reconnaissance for a variety of missions. The aerodynamic structures are made to be used in airstrikes on predetermined targets. It is possible to collect data with high temporal resolution and extremely high spatial resolution by repeatedly deploying UAVs as remote sensing platforms. Also, Drone prices are decreasing due to reducing expenses for various ICs (controllers, GPS), IoT sensors, MEMS sensors, and batteries, while their performance is improving, such as GPS accuracy. The majority of the drone's gear is constructed of fiber composites, whose price is falling as a result of technological improvements and global spending on drone hardware. This results in the broad availability of drones for both industry and users.
In several countries, commercial drones are utilized for surveillance, mapping, and surveying purposes. Due to strict government rules for using airspace to prevent any accidental damages and safety concerns, the industry is facing significant challenges to market expansion in many countries. There are application faults, such as lost connections between users' remote devices and drones, can cause technical issues with drones and cause them to crash or take off. Moreover, Sending de-authentication signals between access points and equipment that monitors drones is another way to steal drones. This can be done by jamming the scheduled drone frequency using a single-board computer that is jamming the frequency with hacker Wi-Fi transmissions.
By Application Insights
The military & defense segment dominates the market with the largest revenue share over the forecast period.
On the basis of technology, the global unmanned aerial vehicle market is segmented into military & defense, civil & commercial, logistics & transportation, construction & mining, and others. Among these, the military & defense segment is dominating the market with the largest revenue share over the forecast period. The demand for tactical and strategic unmanned aerial vehicles (UAVs) for military use is rising, which contributes to the segment's expansion. For many kinds of reasons, several nations have boosted their purchases of special-purpose UAVs such as the Medium Altitude Long Endurance (MALE) and High Altitude Long Endurance (HALE) UAV. In the upcoming years, demand is probably going to increase and fueled by significant operations including border monitoring, surveillance, and border security.
By Type Insights
The fixed wing segment is witnessing significant CAGR growth over the forecast period.
On the basis of type, the global unmanned aerial vehicle market is segmented into fixed wing and rotary wing. Among these, the fixed wing segment is witnessing significant CAGR growth over the forecast period. The fixed-wing segment is further divided into CTOL and VTOL. Fixed-wing UAVs that can take off and land vertically (VTOL) are being used in a wide range of commercial and military flying missions. These UAVs can operate everywhere because of their ability to take off and land vertically, which eliminates the need for launchers or runways. These UAVs' fixed-wing structure boosts endurance. VTOL fixed-wing UAVs can cover larger areas than multirotor UAVs since they can go over distances quickly and at high speeds.
By System Insights
The avionics segment is expected to hold the rapid revenue growth of the global unmanned aerial vehicle market during the forecast period.
Based on the system, the global unmanned aerial vehicle market is classified into airframe, payloads, avionics, propulsion, and software. Among these, the avionics segment is expected to grow at a rapid pace during the forecast period due to the use of an automated flight management system, advanced electronics, and path control. To ensure flight efficiency, many businesses are concentrating on enhancing their global navigation satellite system (GNSS)-based navigation system. This innovation will improve drones' object detection, collision avoidance, and automatic flight control capabilities. For wartime missions, logistics & transportation, and disaster relief operations, the software system will be more precise and completely equipped with the detection of real-time, airspeed, altitude detection, and position. In the coming years, this aspect is probably going to drive the rise of software systems.
By Technology Insights
The fully autonomous segment is projected to grow at the highest CAGR in the market during the forecast period.
On the basis of technology, the global unmanned aerial vehicle market is segmented into remotely operated, semi-autonomous, and fully autonomous. Among these, the fully autonomous segment grew at the highest CAGR growth over the forecast period. It consists of a command delivery system and flight planning system where the operation's route of flight and operating range will be determined beforehand. Without a ground operator order, the UAVs are in complete control of it. Owing to the remote sensing technology used to run various items, the autonomous categories will develop the highest CAGR throughout the projection period. Beyond the Visual Line of Sight (BVLS) drones control the drone precisely at lower elevations to obtain data via remote sensing.
North America dominates the market with the largest market share over the forecast period.
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North America dominates the largest market share over the forecast period. The military's growing use of drones for aerial mapping, forest monitoring, and infrastructure surveys is the reason for the dominance of this area. The US exports to numerous nations as one of the leading producers of military UAVs in the world. Through its usage of municipal welfare, regional dominance is predicted to continue during the forecast period. The US is expected to contribute most significantly to the expansion of the regional market due to the engagement of important companies. The world's top market providers are from the US. The system's significant deployment in the defense sector is expected to force the region to take the lead. As a result, it is predicted that throughout the study, the area will account for the largest market share for unmanned aerial vehicles (UAV).
Asia Pacific market is expected to grow the fastest during the forecast period. The expansion of the Asia Pacific UAV market can be correlated to the region's higher military expenditures (defense and homeland security) to improve defense capabilities. Moreover, political conflicts in Asia Pacific countries have resulted in the deployment of drones to provide border security. This is one of the most important reasons raising the growth of the countries of the Asia Pacific UAV industry. Small unmanned aerial vehicles (UAVs), among other developing military technologies, are now being developed by China. This has been made possible by their cooperation with the Russian defense sector. Throughout the forecast period, it is anticipated that the growth in original equipment manufacturer (OEM) output toward the development of unmanned aerial vehicle (UAV) drones will be a significant driving force for the Asia-Pacific region market.
List of Key Market Players
- Go Pro
- AeroVironment Inc.
- 3D Robotics
- Holy Stone
- Autel Robotics
- Sense Fly
- Kesper Drone
Key Market Developments
- In May 2022, General Atomics Aeronautical Systems introduced Gambit, an Autonomous Collaborative Platform (ACP) designed through digital engineering to reduce acquisition costs and accelerate time to market. Gambit is part of a larger Family of Systems strategy that began with Predator and Reaper and continues to support the US Air Force's future force design concepts.
- In April 2022, DJI, DJI introduced the DJI RS 3 and DJI RS 3 Pro, which include several new features. The process is now automated owing to a redesigned axes-locking system. The automated axis locks release and unfold the gimbal when the gimbal is turned on, allowing the operator to get started in seconds.
- In December 2021, General Atomics Aeronautical Systems announced the launch of Mojave, a short takeoff and landing (STOL) unmanned aerial vehicle (UAV). The Mojave drifted for the first time in the summer of 2021 and was formally unveiled by GA on December 9, 2021. It is being developed to serve as an unmanned combat aerial vehicle capable of operating from more rugged terrain with a combat loadout while also being equipped with various electronic systems to assist ground troops.
This study forecasts revenue at global, regional, and country levels from 2020 to 2032. Spherical Insights has segmented the Global Unmanned Aerial Vehicle Market based on the below-mentioned segments:
Unmanned Aerial Vehicle Market, Application Analysis
- Military & Defense
- Civil & Commercial
- Logistics & Transportation
- Construction & Mining
Unmanned Aerial Vehicle Market, Type Analysis
- Fixed Wing
- Rotary Wing
Unmanned Aerial Vehicle Market, System Analysis
- UAV Airframe
- UAV Payloads
- UAV Avionics
- UAV Propulsion
- UAV Software
Unmanned Aerial Vehicle Market, Technology Analysis
- Remotely Operated
Unmanned Aerial Vehicle Market, Regional Analysis
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia Pacific
- South America
- Rest of South America
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of the Middle East & Africa
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