VTOL UAV Market Highlights
The key players in the global VTOL UAV market are Northrop Grumman Corporation (U.S.), DJI Innovations (China), Lockheed Martin Corporation (U.S.), Israel Aerospace Industries Ltd. (Israel), Schiebel Elektronische Gerate GmbH (Austria), AeroVironment, Inc. (U.S.), Saab Group (Sweden), Textron Inc. (U.S.), The Boeing Company (U.S.), and Turkish Aerospace Industries, Inc. (Turkey).
The global Vertical Take-off and Landing (VTOL) UAV Market is expected to witness ~15.0% CAGR during the period from 2018 to 2023.
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VTOL UAV defined as an aircraft that can take off and land and able to perform maneuvers. The demand for VTOL UAV is growing at fastest rate in emerging market owing to rise in combat operation in Korea, Iraq, and Afghanistan and are known for their cost effectivity equipment for security systems.
The key drivers for global VTOL UAV market inlcude focus on enhancing UAV propulsion system, increase in demand for commercial purposes, , and focus on enhancing situational awareness. Other key factors that drives the market growth are rising terrorist activities, and robust technological growth in aerospace sector.
Segments and Geogrpahic Overview
In the recent years, the global VTOL UAV market witnessed a number of developments, particularly in the military sector. This growth is owed to the emergence of various new technologies on the unmanned system front. As the usage of unmanned systems has made its way to commercial applications, every country, lately, is planning on increasing its expenses on the development of VTOL UAV. For example, it was reported that Israel Aerospace Industries and the South Korea-based Hankuk Carbon collaborated for the development of hybrid propulsion systems, which increase the endurance and payload carrying capacity of VTOL UAVs.
Based on type, multi rotor drones are expected to grow at a faster pace as compared to their fixed wing counterparts. Multi rotor drones have various benefits such as the ease of control and use, among others, they have short flight times and lesser payload capacity when compared to the fixed-wing drones. However, its ability to hover makes it apt for operating in confined areas. Moreover, camera control is also comparatively easier. In addition, several new startups and established companies are keen on developing multi-rotor drones.
On the basis of platform, the millitary segment accounted for a highr share than commercial segment in 2017. Countries such as the U.S., the U.K, Germany, China, and France are engaging in high R&D investments on VTOL UAVs, primarily for the provision of security services and surveillance. Market players are focusing on making these unmanned systems smaller and lighter, so that they are more feasible, approachable, and effective.
Based on region, North America accounted for the largest share in the global market in year 2017 as the U. S. Navy is engaged in the development of VTOL UAVs, which can be integrated with the naval fleet for sea-based surveillance. In addition, the region is engaged in the development of multipurpose VTOL UAVs for various land-based military operations, to provide strong support to the armed forces. It leads the global market in terms of expenditure and technological advancements and has deployed several drones. The U.S. generates a very high demand for drones used for surveillance purposes.
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Table Of Content
1 Executive Summary
2 Scope Of The Report
2.1 Market Definition
2.2 Scope Of The Study
2.2.2 Research Objective
2.3 Research Process
2.3.1 Primary Research
2.3.2 Secondary Research
2.4 Market Size Estimation
2.5 Forecast Model
3 Market Landscape
List Of Tables
Table 1 Global Vertical Take-Off And Landing UAV Market: By Region, 2018-2023
Table 2 North America Vertical Take-Off And Landing UAV Market: By Country, 2018-2023
Table 3 Europe Vertical Take-Off And Landing UAV Market: By Country, 2018-2023
Table 4 Asia Pacific Vertical Take-Off And Landing UAV Market: By Country, 2018-2023
Table 5 RoW Vertical Take-Off And Landing UAV Market: By Country, 2018-2023
Table 6 Global Vertical Take-Off And Landing UAV Market By Platform By Regions, 2018-2023
List Of Figures
Figure 1 Research Process of Mrfr
Figure 2 Top Down & Bottom Up Approach
Figure 3 Market Dynamics
Figure 4 Impact Analysis: Market Drivers
Figure 5 Impact Analysis: Market Restraints
Figure 6 Porter’s Five Forces Analysis
Figure 7 Value Chain Analysis
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