Unmanned Aerial Vehicle (UAV) Market Forecast to 2030

The unmanned aerial vehicle market size reached USD 23.60 Billion in 2021 and is expected to register a revenue CAGR of 14.6 % during the forecast period, according to the latest analysis by Emergen Research. Increasing commercial drones application is one of the key factors for driving the market revenue growth. Several industries have authorized the usage of drones to acquire significant amount of data to make the necessary business choices. It has become a rapidly increasing commercial market, with several uses such as construction, mining, oil & gas, and agriculture across the world.

The construction sector is projected to provide a significant opportunity for market growth owing to the substantial commercial usage of mapping, observation, surveying, and inspection studies. Significant infrastructure construction projects require factual data to comprehend the ground reality and potential issues in the future. The construction industry is witnessing rapid adoption of drones of all forms and sizes. It is assisting various engineers and specialists in making wiser business decisions by mapping millions of Landsat images and information. The increasing implementation in commercial civil applications is expected to drive the market growth during the forecast period.

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Some Key Highlights of the Report:

• OEM segment is expected to lead in terms of revenue contribution to the global market over the forecast period owing to the majority of the manufacturing and changes required in UAVs being performed at the OEM level.
• Commercial segment revenue is expected to expand rapidly in terms of revenue during the forecast period because it can be related to drone technology breakthroughs and developments.
• Asia Pacific is expected to register a considerably rapid growth rate in global unmanned aerial vehicle market over the forecast period owing to increasing commercial usage of drones in the countries in the region.
• In February 2022, Northrop Grumman Corporation launched the first production IFC-4 Triton to US Navy. As the Triton low-rate initial production plan moves forward, a Northrop Grumman Corporation MQ-4C Triton soars to the sky above the California desert. This is the first production Triton to be updated to a multi-intelligence configuration to fulfil the Navy's essential maritime intelligence, surveillance, reconnaissance, and targeting demands. It is known as B8.

The global Unmanned Aerial Vehicle (UAV) market report employs an extremely extensive and perceptive process that analyzes statistical data relating to services and products offered in the market. The research study is a pivotal document in understanding the needs and wants of the clients. The report is comprised of significant data about the leading companies and their marketing strategies. The Unmanned Aerial Vehicle (UAV) industry is witnessing an expansion and change of dynamics owing to the entry of several new players.

The study outlines the rapidly evolving and growing market segments along with valuable insights into each element of the industry. The industry has witnessed the entry of several new players, and the report aims to deliver insightful information about their transition and growth in the market. Mergers, acquisitions, partnerships, agreements, product launches, and joint ventures are all outlined in the report.

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List of Key Players Mentioned in the Unmanned Aerial Vehicle (UAV) Market Research Report:

Northrop Grumman Corporation, SZ DJI Technology Co. Ltd, AeroVironment, Inc., Elbit Systems Ltd., Lockheed Martin Corporation., BAE Systems PLC., Airbus SE, Textron Inc., Teledyne FLIR LLC, and SaaB AB

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The research report offers a comprehensive regional analysis of the market with regards to production and consumption patterns, import/export, market size and share in terms of volume and value, supply and demand dynamics, and presence of prominent players in each market. 

Market Overview:

The report bifurcates the Unmanned Aerial Vehicle (UAV) market on the basis of different product types, applications, end-user industries, and key regions of the world where the market has already established its presence. The report accurately offers insights into the supply-demand ratio and production and consumption volume of each segment.

Segments Covered in this report are:

• Product Outlook (Revenue, USD Billion; 2019–2030)

  • Small UAV
  • Tactical and Strategic UAV
  • Special Purpose UAV

• Point of Sale Outlook (Revenue, USD Billion; 2019–2030)

  • Aftermarket
  • OEM

• Technology Outlook (Revenue, USD Billion; 2019–2030)

  • Remotely Piloted
  • Optionally Piloted
  • Fully Autonomous

Regional Analysis Covers:

• North America (U.S., Canada)
• Europe (U.K., Italy, Germany, France, Rest of EU)
• Asia Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)
• Latin America (Chile, Brazil, Argentina, Rest of Latin America)
• Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)

Furthermore, the report provides the analytical data in an organized format segmented into charts, tables, graphs, figures, and diagrams. This enables readers to understand the market scenario in an easy and beneficial manner. Moreover, the report aims to impart a prospective outlook and draw an informative conclusion to assist the reader in making lucrative business decisions. The report, in conclusion, provides a detailed analysis of the segments expected to dominate the market, the regional bifurcation, the estimated market size and share, and comprehensive SWOT analysis and Porter’s Five Forces Analysis.

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