The global Unmanned Aerial Vehicle (uav) Market was valued at USD 24.9 Billion in 2022 and is projected to reach a value of USD 52.3 Billion by 2030 at a CAGR (Compound Annual Growth Rate) of 11.2% over the forecast period.
A drone is an Unmanned Aerial Vehicle (uav), an aircraft without a human pilot, crew, or passengers. UAVs were initially created in the twentieth century to perform military tasks deemed "dull, unclean, or dangerous" for humans. By the twenty-first century, they had become vital tools for most militaries. The global Unmanned Aerial Vehicle (uav) market is expected to grow with a rapid CAGR during the forecast period. The healthcare and agricultural sectors are the main ones where drone use is expanding. For instance, in 2017, government organizations in important African nations, including Tanzania, partnered with delivery services like Zipline to send blood and medical supplies to remote and inaccessible places. Moreover, WakeMed Health & Hospital in North Carolina (U.S.) collaborated with the state's transportation department on a pilot study in 2018 to assess the viability of using drones to distribute medical supplies across hospital campuses. After several fruitful trials, Matternet, a California-based drone company, and later UPS joined WakeMed to advance the hospital's drone delivery initiatives.
Unmanned Aerial Vehicle (uav) Market Size, 2022 To 2030 (USD Billion)
The worldwide construction sector is anticipated to grow by 85% and reaches USD 15.5 trillion in volume by 2030, according to the PwC 2018 report. Also, the greater portion, or about 57%, will help drive industrial growth in important nations, including the U.S., China, and India. Before building significant infrastructure, the industry is important for design and planning. Data collection from surveys and the creation of detailed surface area maps are highly necessary. Most businesses spend a lot of time, money, and labor on doing relevant surveys and data collection, but drones can save millions of dollars by delivering more precise information faster. Automated mapping, cadastral surveying, LiDAR mapping, and volumetric calculation by drone software are further potential applications for the UAV business. Around USD 45 billion is anticipated from the construction sector throughout the predicted period.
Drones' ability to analyze millions of photographs provides safe, secure, and more accurate data, improving managerial decision-making across various businesses. Companies' increased reliance is further improving the output of global business on specific data collecting and information analysis from the software. Because of the improved cameras, contemporary computing, and speedier microprocessors, the new hardware and component development assists clients in regularly producing real-time maps. With the use of aerial imaging technologies, modern computing is capable of producing real-time drone mapping with live maps. Thus, prominent corporations are concentrating on combining artificial intelligence and machine learning to analyze a vast quantity of data in the form of millions of aerial photographs that are regularly acquired by drones. Several businesses are developing software technologies that automate site analysis using object identification and measurement systems.
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- Historical data & forecasts
- Company revenue shares
- Regional opportunities
- Latest trends & dynamics
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The annual Global Economic League Table published by a British firm predicts that in 2022, the world economy will reach $100 trillion. The most recessive state on earth was brought about by the COVID-19 pandemic and is anticipated to last a few more years. Recent studies indicate that the third quarter of 2022 saw an increase in the global economy of more than 2.9%. This expansion suggests a tentative rise from 2.6% at the end of October. Regarding its influence on the economy, the current conflict between Russia and Ukraine is anticipated to worsen during the projected period. Russia's neighbors have responded to its aggressive march into Ukraine with harsh realities. Regardless of their cause, wars are complicated and frequently result in social unrest, destruction of infrastructure, and negative effects on the world economy.
Top Market Trends
1. Rising Utilization within Commercial Applications: Most industries have registered to use drones to collect extensive data needed for the desired strategic decisions. Along with its different uses, including those in construction, mining, oil & gas, and agriculture, it has emerged as the commercial sector's fastest-growing market. Due to the extensive commercial usage of mapping, observation, surveying, and inspection studies, the construction sector is projected to present a significant opportunity for market expansion.
2. Improving Need for Surveillance Requirements: Government spending on UAVs has surged due to the global rise in security concerns and the threat from terrorism. Solutions utilizing Unmanned Aerial Vehicle (uav) have a wide range of uses in the military, civic, commercial, logistics, transportation, and mining industries, among others, for effective asset monitoring and area surveillance to achieve the highest operational effectiveness. UAVs can conduct covert operations, work at night, operate anywhere, and are easy to deploy. These advantages have prompted governments to boost their investments in the global acquisition and development of UAVs.
3. Widening Government Policies for Adoption of Drones: The industry is expanding due to changes in government regulations and an increase in the number of exceptions given to companies for the use of UAV drones for commercial purposes. For instance, the Government of India's 2022 announcement of new, liberalized drone legislation gave the fledgling drone sector wings. To make business easier for operators of civilian drones, the Drones Regulations 2021 lowered approval standards and other regulations on August 25, 2021. Consequently, these relaxations will contribute to the continued growth of the drone sector. In Telangana, India, during the pandemic, drones flew vaccines to isolated communities.
The global Unmanned Aerial Vehicle (uav) market can be segmented into Point of Sale, System, Platform, Type, Application, Mode of Operation, MTOW, Range, and Region. Based on Point of Sale, the market can be categorized into OEM and Aftermarket. Furthermore, based on System, the market can be further split into Platform, Payload, Datalink, Ground Control Station, and Launch & Recovery System. In addition, based on Platform, the market can be further fragmented into Civil & Commercial and Defense & Government. Moreover, based on Type, the market can be divided into Fixed Wing, Rotary Wing, and Hybrid. Additionally, based on Application, the market can be further split into Military, Commercial, Government & Law, and Consumer. In addition, based on Mode of Operation, the market can be further divided into Remotely Piloted, Optionally Piloted, and Fully Autonomous. Additionally based on End-Use, the market can differentiated into Military, Public Safety & Security, Agriculture, Insurance, Energy, Mining & Quarrying, O&G, Transport, Logistics & Warehousing, Journalism & Media, Arts, Entertainment & Recreation, and Healthcare & Social Assistance. Additionally, based on MTOW, the market can be fragmented across <25 KG, 25-170 KG, and > 170 KG. Moreover, based on Range, the market can be categorized into Visual Line of Sight, Extended Visual Line of Sight, and Beyond Visual Line of Sight. Likewise, based on Region, the market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.
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Based on System
Launch and Recovery System to Account for Largest Market Share Owing to Improved Navigation Sector
Launch and Recovery systems will lead the largest Unmanned Aerial Vehicle (uav) market share during the forecast period. To ensure flight efficiency, many businesses are enhancing their global navigation satellite (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 to detect real-time airspeed, altitude detection, and position.
Based on Application
Commercial Segment to Lead Largest Market Share Owing to Advancements in Miniaturization
The global Unmanned Aerial Vehicle (uav) market will dominate the commercial segment during the forecast period. The commercial drone industry expanded rapidly and saw several technological advancements. Commercial operators are on a mini- and micro-UAV buying frenzy thanks to the availability of low-cost components for even the tiniest UAVs on the market, thanks to miniaturization and COTS technologies. Manufacturers generally offer few UAVs for data collection, aerial photography, and agricultural applications. Also used for geological surveys, maritime monitoring, meteorological observation, and forest fire prevention missions are full-sized UAVs like the Chinese CH-4.
Based on the Mode of Operation
Fully Autonomous to Account for the Largest Market Share Owing to Recent Technological Advancements
The fully autonomous systems are expected to register the largest market share during the forecast period in terms of revenue. It consists of a command delivery system and flight planning system where the operation's flight path and operational range are chosen beforehand. Without a ground operator order, the UAVs completely control it. This large payload of mission-based UAVs was created for particular missions in nations like the United States, China, Russia, and Israel. The remotely piloted segment will grow with the fastest growing CAGR during the forecast period thanks to the remote sensing technology used to operate various products. Wide-range drones such as Beyond the Visual Line Sight (BVLS) type control the drone precisely at lower altitudes to gather data through remote sensing.
Based on Type
Rotary Wing UAV to Lead Market Share Owing to Greater Maneuverability
Rotary wing UAV is expected to lead the global Unmanned Aerial Vehicle (uav) market during the forecast period. This is mostly attributable to the fact that it is more maneuverable and compact than other types of drones, is easy to use, has a higher payload capacity, and costs less overall. Moreover, these drones can hover midair and need less space to take off.
Based on End Use
Military to Account for Largest Market Share Owing to Favorable Utilization
The global Unmanned Aerial Vehicle (uav) market will dominate the military segment during the forecast period. Military organizations are the main customers for Unmanned Aerial Vehicle (uav) solutions and associated services. The budgetary constraints and level of security are considered while planning the procurement activities for this Unmanned Aerial Vehicle (uav) system. Long-term agreements and contracts between the defense department and solution providers of Unmanned Aerial Vehicle (uav) solutions are projected to be used to implement Unmanned Aerial Vehicle (uav) solutions. Since these solutions are made to order items based on end-user requirements, these agreements specify a list of requirements that must be met at a specific time. Long-term business potential with these military entities is also connected to these contracts and agreements. Government and law are expected to grow with the fastest growing CAGR during the forecast period owing to rising occurrences of border disputes.
Based on Region
North America to Lead Global Sales Owing to Rising Infrastructure for Surveys & Aerial Mapping
The global Unmanned Aerial Vehicle (uav) market is expected to be dominated by the region of North America during the forecast period. In 2019, a greater market share belonged to North America. The growing use of drones for military purposes, including aerial mapping, forest monitoring, and infrastructure surveys, is responsible for this region's domination. The United States is one of the leading producers of military UAVs, shipping to numerous nations worldwide. The substantial presence of major players in the US market, including General Atomics, Textron, and Boeing, supports the good business outlook. Regional dominance is anticipated to continue during the forecast period due to its use of municipal welfare. Due to the participation of notable players, the US is anticipated to contribute most significantly to the expansion of the regional market. The US leads the world in market providers. The area is anticipated to take the lead because of the system's strong deployment in the defense industry. As a result, the region is anticipated to hold the greatest market share for Unmanned Aerial Vehicle (uav) over the assessment period.
The Asia Pacific will grow with the second-fastest CAGR during the forecast period. The military has a general desire to keep up with the most cutting-edge technology, and perceptions about the emergence of asymmetrical warfare are reflected in the paradigm change favoring unmanned systems. Due to growing initiatives for indigenous aerospace platforms, the development of domestic UAVs is projected to increase, which could greatly expand the Asia-Pacific UAV market.
Due to numerous manufacturing companies functioning in the industry, the Unmanned Aerial Vehicle (uav) market is very fragmented. The top corporations have a broad distribution network and a robust product line in developed and developing nations. The prominent players invest heavily in their research and development departments to widen their product portfolios. Additionally, increased focus is being diverted towards widening their global presence by partnering with local and regional players.
The key players in the global Unmanned Aerial Vehicle (uav) market include - AeroVironment Inc. (U.S.), Airbus S.A.S. (Netherlands), B.A.E. Systems PLC (UK), DJI (China), Elbit Systems Ltd. (Israel), FLIR Systems Inc. (U.S.), Lockheed Martin Corporation (U.S.), Northrop Grumman Corporation (U.S.), Textron Inc. (U.S.), The Boeing Company (U.S.) among others.
Recent Market Developments
· June 2021: A contract for USD 200 million has been given to Israel Aerospace Industries (IAI) to provide support services for the Heron Unmanned Aerial Vehicle (uav). Heron is a medium-altitude, long-endurance (MALE) Unmanned Aerial Vehicle (uav) system operation for strategic surveillance and reconnaissance.
· May 2021: The US Army has given Teledyne FLIR LLC a contract of USD 15.4 million to provide the Black Hornet 3 Unmanned Aerial Vehicle (uav), which is the size of a palm (UAV). The Black Hornet 3, a personal reconnaissance system, has a rotor diameter of 123 mm, measures 168 mm long, and weighs 33 g.
· January 2021: Aerovironment, Inc. has announced that it has successfully paid USD 405 million to acquire Arcturus UAV, Inc., a provider of complete Unmanned Aerial Vehicle (uav).
Segmentation of the Global Unmanned Aerial Vehicle (uav) Market
- Point of Sale (OEM, Aftermarket)
- System (Platform, Payload, Datalink, Ground Control Station, Launch & Recovery System)
- Platform (Civil & Commercial, Defense & Government)
- Type (Fixed Wing, Rotary Wing, Hybrid)
- Application (Military, Commercial, Government & Law, Consumer)
- Mode of Operation (Remotely Piloted, Optionally Piloted, Fully Autonomous)
- End-Use (Military, Public Safety & Security, Agriculture, Insurance, Energy, Mining & Quarrying, O&G, Transport, Logistics & Warehousing, Journalism & Media, Arts, Entertainment & Recreation, Healthcare & Social Assistance)
- MTOW (<25 KG, 25-170 KG, > 170 KG)
- Range (Visual Line of Sight, Extended Visual Line of Sight, Beyond Visual Line of Sight)
- Region (North America, Europe, Asia Pacific, Latin America, Middle East & Africa)
|Regions & Countries Covered
- North America - (U.S., Canada, Mexico)
- Europe - (U.K., France, Germany, Italy, Spain, Rest Of Europe)
- Asia Pacific - (China, Japan, India, South Korea, South East Asia, Rest Of Asia Pacific)
- Latin America - (Brazil, Argentina, Rest Of Latin America)
- Middle East & Africa - (GCC Countries, South Africa, Rest Of Middle East & Africa)
- AeroVironment Inc. (U.S.)
- Airbus S.A.S. (Netherlands)
- B.A.E. Systems PLC (UK)
- DJI (China)
- Elbit Systems Ltd. (Israel)
- FLIR Systems Inc. (U.S.)
- Lockheed Martin Corporation (U.S.)
- Northrop Grumman Corporation (U.S.)
- Textron Inc. (U.S.)
- The Boeing Company (U.S.)
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attractiveness analysis by segments and North America, company market share analysis, and COVID-19
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