Global Unmanned Aerial Vehicle (UAV) Market Forecast to 2030

The Unmanned Aerial Vehicle Market report is the result of extensive essential and auxiliary research, as well as subjective and quantitative examination of key market segments. The clever information is also approved and verified by business experts. The report aims to provide additional insights into the general market situation of the Unmanned Aerial Vehicle business circle.

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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Competitive Terrain:

The global Unmanned Aerial Vehicle (UAV) industry is highly consolidated owing to the presence of renowned companies operating across several international and local segments of the market. These players dominate the industry in terms of their strong geographical reach and a large number of production facilities. The companies are intensely competitive against one another and excel in their individual technological capabilities, as well as product development, innovation, and product pricing strategies.

The leading market contenders listed in the report are:

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

Research Report on the Unmanned Aerial Vehicle (UAV) Market Addresses the Following Key Questions:

• Who are the dominant players of the Unmanned Aerial Vehicle (UAV) market?
• Which regional market is anticipated to have a high growth rate over the projected period?
• What consumer trends and demands are expected to influence the operations of the market players in the Unmanned Aerial Vehicle (UAV) market?
• What are the key growth drivers and restraining factors of the Unmanned Aerial Vehicle (UAV) market?
• What are the expansion plans and strategic investment plans undertaken by the players to gain a robust footing in the market?
• What is the overall impact of the COVID-19 pandemic on the Unmanned Aerial Vehicle (UAV) market and its key segments?

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 Landscape section of the Unmanned Aerial Vehicle (UAV) report offers deeper insights into the regulatory framework, current and emerging market trends, production and consumption patterns, supply and demand dynamics, import/export, and presence of major players in each region.

The various regions analyzed in the report include:

• 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)

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Some Key Highlights From 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 section on the competitive landscape offers valuable and actionable insights related to the business sphere of the Unmanned Aerial Vehicle (UAV) market, covering extensive profiling of the key market players. The report offers information about market share, product portfolio, pricing analysis, and strategic alliances such as mergers and acquisitions, joint ventures, collaborations, partnerships, product launches and brand promotions, among others. The report also discusses the initiatives taken by the key companies to combat the impact of the COVID-19 pandemic.

Key Points of the Geographical Analysis:

• Data and information related to the consumption rate in each region
• Estimated increase in the consumption rate
• Proposed growth of the market share of each region
• Geographical contribution to market revenue
• Expected growth rate of the regional markets

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