Unmanned Aerial Vehicle (UAV) Market Size was Estimated at USD 24,845 million in 2020 – GMI Research

Unmanned Aerial Vehicle (UAV) Market Size was Estimated at USD 24,845 million in 2020 - GMI Research

“Unmanned Aerial Vehicle (UAV) Market”
Unmanned Aerial Vehicle (UAV) Market size was valued at USD 24,845 million in 2020, registering a CAGR of 15.4% during the forecast period. The increasing adoption of UAVs for commercial purposes, aerial remote sensing, and increasing incidences of terrorism are some of the major factors fuelling the market growth.

Unmanned Aerial Vehicles Market Dynamics 

An unmanned Aerial Vehicle is an aerial transportation medium that functions without any onboard crew. Factors such as an increase in military spending and a surge in demand for improved scrutiny solutions will drive the growth of the unmanned aerial vehicle market. The use of unmanned systems for surveillance, combat, intelligence, and reconnaissance missions has gained immense prominence over the past few years for decreasing troop fatalities. The changes in government norms for UAV technologies to encourage its adoption for commercial uses are expected to flourish the market.

Also, the significant investment in emerging technologies, such as AI in the UAVs, UGVs, and USVs, to make them autonomous has fuelled the market growth. The UAVs are widely used to perform ISR missions, electric warfare, and target perception. UAVs are being used in other applications, including survey and document wildlife, internet provision in distant areas, and public service missions.

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The UAV market was moderately impacted due to the coronavirus outbreak. The relocation in the budget of nations towards developing medical infrastructure has restricted the budget expenditure of defense towards research, development, and acquisition of deep tech products. Moreover, countries across the world are exploring new ways to use unmanned aerial vehicles to deliver vaccines, supporting business demand. However, the growth of the Unmanned Aerial Vehicles market can be hindered by technological and legal restrictions and the growing concerns regarding political acceptability.

Key players operating in the Unmanned Aerial Vehicles Market include Lockheed Martin, General Atomics, Elbit Systems, Israel Aerospace Industries, Aerovironment, Boeing Company, Aeronautics, Saab SE, Thales Groups, Northrop Grumman Corporation, and SZ DJI Technology Co.

Key Developments:

In Oct 2019, General Atomics entered into a cooperative agreement with NASA to implement a demonstration flight in the course of the agency’s project to incorporate Unmanned Aircraft Systems (UAS) into the National Airspace System (NAS).

Class Segment Analysis

The small UAV segment is projected to expand at a faster rate during the forecast period. These robotic systems have the ability to perform extreme tasks such as firefighting, public safety, precision agriculture, disaster management, and logistic operations. Also, the growing demand for small UAVs in reconnoitring applications in the defense sector will fuel the unmanned aerial vehicles UAV market growth.

Application Segment Analysis

The commercial segment is expected to hold a larger share over the forecast period. The development and innovation in drone technology is a major factor driving the segment’s growth. Also, the increasing deployment of UAVs for various commercial applications such as food delivery, surveying, product delivery, supervising, and remote sensing will further propel the market growth.

Mode of Operation Segment Analysis

The fully autonomous segment is projected to dominate the market during the forecast period. The fully autonomous UAV can function without human intervention and is loaded with automated features that help in smooth operation. Thus, all these features will support the market growth.

Regional Analysis

The North American region market for UAVs is projected to capture the highest share during the forecast period. The increasing application of UAVs in aerial mapping, military operations, surveying, and forest monitoring will strengthen the market growth. Also, the growing application of UAVs for border and maritime surveillance activities in North American countries, such as the U.S. and Canada, and the adoption of commercial drones for safety purposes, agriculture applications, and engineering purposes will bolster the market growth.

Unmanned Aerial Vehicles Market Segmentation:

Unmanned Aerial Vehicles Market by System

    • UAV Platforms Market, By Subsystem

            o UAV Airframes, By Material Type

            o UAV Alloys

            o UAV Plastics

            o UAV Composites, By Type

                 o Carbon Fiber Reinforced Polymers

                 o Glass Fiber Reinforced Polymers

                 o Boron Fiber Reinforced Polymers

                 o Aramid Fiber Reinforced Polymers

            o UAV Avionics, By Component

               o UAV Flight Control Systems, By Subcomponent

                 o UAV Air Data Computers

                 o UAV Autopilots/Flight Control Computers

            o UAV Navigation Systems, By Subcomponent

                 o UAV Gps/GNSS

                 o UAV Ins/Imu

                 o UAV Sense & Avoid Systems

            o UAV Sensors, By Type

                o Speed Sensors

                o Light Sensors

                o Proximity Sensors

                o Position Sensors

                o Temperature Sensors

             o UAV Communication Systems

             o Others

           o UAV Propulsion Systems, By Component

              o UAV Engines, By Type

                o Gas Engines

                o Electric Engines

         o UAV Power Sources, By Type

         o UAV Batteries

                o Solar Cells

                o Hybrid Cells

                o Fuel Cells

          o UAV Software

    • UAV Payloads, By Type

        o UAV Cameras, By Type

                o High-Resolution Cameras

                o Multispectral Cameras

                o Hyperspectral Cameras

                o Thermal Cameras

                o Eo/Ir Cameras

        o UAV CBRN Sensors

        o UAV Electronic Intelligence Payloads, By Type

                o Signal Intelligence

                o electronic Intelligence

                o Communication Intelligence

                o Telemetry Intelligence

        o UAV Radar, By Type

                o Synthetic Aperture Radar

                o Active Electronically Scanned Array Radar

        o UAV Lidar

        o UAV Gimbals

    • UAV Data Links

    • UAV Ground Control Stations

    • UAV Launch & Recovery Systems

Unmanned Aerial Vehicle (UAV) Market by Class

    • Small UAVs

        o Nan

        o UAVs

        o Micr

        o UAVs

        o Mini UAVs

    • Strategic & Tactical UAVs

        o Close-Range (CR) UAVs

        o Short-Range (SR) UAVs

        o Medium-Range (MR) UAVs

        o Medium-Range Endurance (MRE) UAVs

        o Low-Altitude Deep Penetration (LADP) UAVs

        o Low-Altitude Long Endurance (LALE) UAVs

        o Medium-Altitude Long Endurance (MALE) UAVs

        o High-Altitude Long Endurance (HALE) UAVs

    • Special-Purpose UAVs

        o Unmanned Combat Aerial Vehicles (UCAVS)

        o Loitering UAVs

        o Swarm Drones

        o Lethal UAVs

        o Decoy UAVs

        o Stratospheric UAVs

        o Exo-Stratospheric UAVs

Unmanned Aerial Vehicles (UAV) Market by Vertical

• Military

        o Intelligence, Surveillance, and Reconnaissance (ISR)

        o Combat Operations

        o Battle Damage Management

    • Commercial

        o Remote Sensing

        o Inspection & Monitoring

        o Product Delivery

        o Surveying & Mapping

        o Inspection & Monitoring

        o Aerial Imaging

        o Industrial Warehousing

        o Others

    • Government & Law Enforcement

        o Border Management

        o Traffic Monitoring

        o Firefighting & Disaster Management

        o Search & Rescue

        o Police Operations & Investigations

        o Maritime Security

    • Consumer

        o Prosumers

        o Hobbyists

Unmanned Aerial Vehicles (UAV) Market by Industry

    • Defense & Security

    • Agriculture

    • Logistics & Transportation

        o Postal & Package Delivery

        o Healthcare & Pharmacy

        o Retail & Food

    • Energy & Power

        o Power Generation

        o Oil & Gas

    • Construction & Mining

    • Media & Entertainment

    • Insurance

    • Wildlife & Forestry

    • Academics & Research

Unmanned Aerial Vehicles (UAV) Market by Type

    • Fixed-Wing UAVs

    • Fixed-Wing VTOL UAVs

    • Rotary-Wing UAVs

        o Single Rotor UAVs

        o Multi Rotor UAVs

             o Bicopters

             o Tricopters

             o Quadcopters

             o Octocopters

Unmanned Aerial Vehicles (UAV) Market by Range

        • Visual Line of Sight UAVs

        • Extended Visual Line of Sight UAVs

        • Beyond Line of Sight UAVs

Unmanned Aerial Vehicles (UAV) Market by Mtow

        •

        • 25-170 Kilograms

        • >170 Kilograms

Unmanned Aerial Vehicles (UAV) Market by Operation

        • Remotely Piloted

        • Optionally Piloted

        • Fully Autonomous

Unmanned Aerial Vehicles (UAV) Market by Point of Sale

        • Original Equipment Manufacturer (OEM)

        • Aftermarket

Unmanned Aerial Vehicles Market by Region:

        • Asia Pacific

             o China

             o Japan

             o India

             o Rest of APAC

    • North America

             o United States of America

             o Canada

    • Europe

             o United Kingdom

             o Germany

             o France

             o Spain

             o Rest of Europe

    • RoW

             o Brazil

             o South Africa

             o Saudi Arabia

             o UAE

 

Our Other Related Reports on UAV Market:

Commercial Drone Market

Drone Service Market

India Unmanned Aerial Vehicle Market

 

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