Unmanned Aerial Vehicle Market

Unmanned Aerial Vehicle Market size reached USD 25.6 billion in 2021 and is estimated to reach USD 48.4 billion in 2029 and the market is estimated to grow at a CAGR of 8.3% from 2022-2029 attributed to growing use of UAVs for marine border patrolling.

Unmanned Ariel Vehicles (UAVs) are aircraft, also known as drones, which do not require human pilot and crew to operate. UAVs were primarily used by militaries for carrying out various combat missions and drills. Due to improvement in technologies and cost for developing UAVs reduced, its usage in different applications has increased such as precision agriculture, forest fire monitoring and ariel photography.

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Major Unmanned Aerial Vehicle Market Drivers

Unmanned Aerial Vehicle Market is primarily driven by increasing spending by militaries on procurement of UAVs, growing demand for improved surveillance solutions and emergence of commercial UAVs. Demand for drones is increasing rapidly in military applications. With changing geopolitical landscape, many countries are focussing to add more drones in their militaries to strengthen their armed forces, which will create lucrative opportunities for defense manufacturers to expand their business in coming years. For instance, Boeing, a leading defense company, based out of United States will develop military aircraft drones for Australian Air Force. These aircrafts will utilize Artificial Intelligence (AI) in tandem with manned aircrafts and will be developed and designed in Australia. Furthermore, for developing sensors and technologies in drones/UAVs, development and design of cameras and sensors becomes crucial. With advancements in technology and sensors, cost for developing drones is going down as the prices of components such as ICs (GPS and controller) and Internet of Things (IoT) based sensors are falling, which will create more growth opportunities for Unmanned Aerial Vehicle Market (UAV) Market.

Simultaneous Localization and Mapping (SLAM) algorithms were designed for landmark based, terrain-aided navigation systems. SLAM techniques were increasingly used for ground-based robot navigation. Research indicates that SLAG augmented, low-cost GPS/ INS systems can be applied in UAVs in situations such as urban canyons and indoors. Using these algorithms will make drones robust, which will create opportunities for Unmanned Aerial Vehicle Market in future. Moreover, on-going defense modernization drives worldwide, increasing use of drones for providing internet access in remote places and video conferencing and integration of advanced technologies such as Artificial Intelligence and Machine Learning in UAVs, will supplement the market growth in forthcoming years. However, surge in the number of hacking incidents in drone industry coupled with bandwidth challenges, and non-uniform laws, are restricting the growth of Unmanned Aerial Vehicle Market (UAV) Market.

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Defense & Government segment is projected to hold the largest market share.

High-Altitude Long Endurance (HALE) drones and Medium Altitude Long Endurance (MALE) drones comes under the category of strategic drones. These UAVs remain heavy at high altitudes and requires long endurance and more strength.

Military segment is expected to dominate the market.

Militaries worldwide are using drones are used in different applications ranging from supplying emergency supplies such as medical aids and food supplies to ammunition in battlegrounds. For instance, during covid-19 crisis, Indian Army used drones to supply booster dose of Covid-19 vaccines in snow-bound areas of Jammu and Kashmir.

Based on Type, Fixed-Wing segment is forecast to grow at a considerable CAGR.

Vertical Take-Off and Landing fixed wing UAVs are gaining traction in the market as it provides improved endurance, can fly in high distances and offers more coverage as compared to multirotor UAVs. In addition, increasing use of these UAVs in application such as farming, infrastructure inspection and surveillance activities, is propelling the segment’s growth.

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Based on Region, North American region is estimated to hold a significant share in the market.

North American Unmanned Ariel Vehicles Market is majorly driven by growing adoption of drones for defense and commercial applications and increasing focus of companies on developing cost-effective drones. Asia-Pacific region is forecast to grow at the fastest rate owing to increase in military spending of countries, innovations in drone technologies, rising geopolitical tensions growing use of UAVs in agriculture and real-estate sectors.

Top Market Players

Various notable players in the Unmanned Aerial Vehicle (UAV) market include General Atomics, Northrop Grumman Corporation, Elbit Systems, Israel Aerospace Industries, AeroVironment, Lockheed Martin, Boeing Company, Aeronautics, Saab SE, Thales Groups, and SZ DJI Technology Co., Ltd., among others.

Key Developments:

• • In June 2022, DJI lunches DJI 3 RS 3 and DJI RS 3 Pro, which comes with new range of features. DJI RS 3 Mini is a lightweight handheld stabilizer, which features compact and portable design enabled with robust payload capacity.
  • In June 2021, Israel Aerospace Industries (IAI) received contract worth USD 200 million to provide services for the Heron unmanned aerial vehicle. Heron is a medium-altitude long-endurance (MALE) UAV system, which will be designed to carry out strategic reconnaissance and surveillance operations.
  • In May 2021, Teledyne FLIR LLC announced that it has received a contract wotth USD 15.4 million from the US Army to provide the Black Hornet 3 palm-sized unmanned aerial vehicle (UAV). The Black Hornet 3, dubbed a personal reconnaissance system, weighs around 33 g and is 168 mm long with a 123 mm rotor diameter.
  • In May 2021, Northrop Grumman Corporation signed a deal with the US Navy to prototype and incorporated assimilating sense and avoid (SAA) competencies into its high-altitude, long-endurance MQ-4C Triton autonomous system to enable its secure functioning in shared airspace with manned aircraft.
  • In April 2021, SZ DJI Technology Co., Ltd., announced that it has developed DJI Air 2S. It is a compact camera drone with an all-in-one answer for effective flight, equipped with high-level-grade preprogrammed substance creation devices.
  • In September 2020, General Atomics Aeronautical Systems, Inc., a major manufacturer of UAV and radar systems, based out of United States conducted captive carry tests demonstrations of its SparrowHawk aircraft. The SparrowHawk aircraft is an airborne launch and recovery demonstrator aircraft tailored to suit GA-ASI platforms. It is based on the attritableONE technologies of the Advanced Battle Management System.
  • In 2019, General Atomics, signed a cooperative agreement with NASA to execute a demonstration flight in the course of NASA’s project to incorporate Unmanned Aircraft Systems (UAS) in National Airspace System (NAS).

Segments Covered in the Report

The Global Unmanned Aerial Vehicle (UAV) Market has been segmented based on By Point of Sales, By Systems, By Platform, By Type, By Application, By Mode of Operation, By End-Use, By Mtow, By Range and Region. Based on the Point of Sales, the market is categorized into Original Equipment Manufacturer (OEM), Aftermarket. Based on Systems, the market is categorized into Platform, Payload, Datalink, Ground Control Station and Launch & Recovery System. Based on Platform, the market is categorized into Civil & Commercial and Defense & Government. Based on Type, the market is categorized into Fixed-Wing, Rotary Wing and Hybrid. Based on Application, the market is categorized into Military, Commercial, Government & Law and Consumer. Based on Mode of Operation, the market is categorized into Remotely Piloted, Optionally Piloted and Fully Autonomous. Based on End-Use, the market is categorized into Military, Public Safety, Agriculture, Insurance, Energy, Mining & Quarrying, Oil & Gas, Transport, Logistics & Warehousing, Journalism & Media, Arts, Entertainment & Recreation and Healthcare & Social Assistance. Based on Mtow, the market is segmented into <25 Kilograms, 25-170 Kilograms, and >170 Kilograms. Based on Range, the market is segmented into Visual Line of Sight UAVs, Extended Visual Line of Sight UAVs, and Beyond Line of Sight UAVs.

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Market Segmentation:

Global Unmanned Aerial Vehicles (UAV) Market by Point of Sale

• • Original Equipment Manufacturer (OEM)
  • Aftermarket

Global Unmanned Aerial Vehicle (UAV) Market by Systems

• • Platform
  • Payload
  • Datalink
  • Ground Control Station
  • Launch & Recovery System

Global Unmanned Aerial Vehicles (UAV) Market by Platform

• • Civil & Commercial
  • Defense & Government

Global Unmanned Aerial Vehicles (UAV) Market by Type

• • Fixed-Wing
  • Rotary Wing
  • Hybrid

Global Unmanned Aerial Vehicles (UAV) Market by Application

• • Military
  • Commercial
  • Government & Law
  • Consumer

Global Unmanned Aerial Vehicles (UAV) Market by Operation

• • Remotely Piloted
  • Optionally Piloted
  • Fully Autonomous

Global Unmanned Aerial Vehicles (UAV) Market by End-Use

• • Military
  • Public Safety
  • Agriculture
  • Insurance
  • Energy
  • Mining & Quarrying
  • Oil & Gas
  • Transport, Logistics & Warehousing
  • Journalism & Media
  • Arts, Entertainment & Recreation
  • Healthcare & Social Assistance

Global Unmanned Aerial Vehicles (UAV) Market by Mtow

• • <25 Kilograms
  • 25-170 Kilograms
  • >170 Kilograms

Global Unmanned Aerial Vehicles (UAV) Market by Range

• • Visual Line of Sight UAVs
  • Extended Visual Line of Sight UAVs
  • Beyond Line of Sight UAVs

Global Unmanned Aerial Vehicle (UAV) Market by Region

• • North America Unmanned Aerial Vehicle (UAV) Market (Option 1: As a part of the free 25% customization)
    • By Point of Sales
    • By Systems
    • By Platform
    • By Type
    • By Application
    • By Mode of Operation
    • By End-Use
    • By Mtow
    • By Range
    • United States of America (US) Market All-Up
    • Canada Market All-Up
  • Europe Unmanned Aerial Vehicle (UAV) Market (Option 2: As a part of the free 25% customization)
    • By Point of Sales
    • By Systems
    • By Platform
    • By Type
    • By Application
    • By Mode of Operation
    • By End-Use
    • By Mtow
    • By Range
    • United Kingdom (UK) Market All-Up
    • Germany Market All-Up
    • France Market All-Up
    • Spain Market All-Up
    • Rest of Europe Market All-Up
  • Asia-Pacific Unmanned Aerial Vehicle (UAV) Market (Option 3: As a part of the free 25% customization)
    • By Point of Sales
    • By Systems
    • By Platform
    • By Type
    • By Application
    • By Mode of Operation
    • By End-Use
    • By Mtow
    • By Range
    • China Market All-Up
    • India Market All-Up
    • Japan Market All-Up
    • Rest of APAC Market All-Up
  • RoW Unmanned Aerial Vehicle (UAV) Market (Option 4: As a part of the free 25% customization)
    • By Point of Sales
    • By Systems
    • By Platform
    • By Type
    • By Application
    • By Mode of Operation
    • By End-Use
    • By Mtow
    • By Range
    • Brazil Market All-Up
    • South Africa Market All-Up
    • Saudi Arabia Market All-Up
    • UAE Market All-Up
    • Rest of world (remaining countries of the LAMEA region) Market All-Up

Major Players Operating the Unmanned Aerial Vehicle (UAV) (Option 5: As a part of the Free 25% Customization – Profiles of 5 Additional Companies of your Choice)

• • General Atomics
  • Northrop Grumman Corporation
  • Elbit Systems
  • Israel Aerospace Industries
  • Aerovironment
  • Lockheed Martin
  • Boeing
  • Aeronautics
  • Saab SE
  • Thales Groups
  • SZ DJI Technology Co., Ltd.