The new report by FBI, titled, “Unmanned Aerial Vehicle Market Size, Share, Segmentation, By Class (Small UAVs, Tactical UAVs, and Strategic UAVs), By Technology (Remotely Operated, Semi-autonomous, and Fully-autonomous), By System (UAV Airframe, UAV Payloads, UAV Avionics, UAV Propulsion, and UAV Software), By Application (Military, Commercial and Recreational), and Regional Forecast, 2020-2027.” The report further states that the unmanned aerial vehicle (UAV) market size was USD 10.72 billion in 2019 and is projected to reach USD 25.13 billion by 2027, exhibiting a CAGR of 12.23% during the forecast period.
Key Players Assessment in this Research:
- The report offers a detailed analysis of leading companies in the market across the globe.
- It provides details of the major vendors involved in this market
- A comprehensive overview of each company including the company profile generated revenue, pricing of goods, and the manufactured products is incorporated in the report.
- The facts and figures about market competitors along with standpoints of leading market players are presented in the report.
- The recent developments, mergers, and acquisitions related to mentioned key players are provided in the market report.
Companies operating in the global Unmanned Aerial Vehicle industry include
- DJI (China)
- Parrot (France)
- Yuneec (China)
- 3D Robotics (U.S.)
- Go Pro (U.S.)
- Holy Stone (Taiwan)
- Autel Robotics (U.S.)
- Sense Fly (Switzerland)
- Kesper Drone (U.S.)
- Hexagon (Sweden)
- Delair (France)
- AeroVironment Inc., (U.S.)
- Other Players
Drivers & Restraints-
Need to Avoid Physical Contact amidst COVID-19 to Skyrocket Demand
The effect of the COVID-19 pandemic on the market is likely to remain moderate backed by the increasing usage of drones by the regulatory bodies worldwide to monitor public gatherings, thereby limiting direct physical contact. Antwork Inc., a China-based drone delivery company, for instance, provided medical supplies and reduced the involvement of humans by using drones. Also, in countries, such as the Netherlands, Belgium, Spain, India, China, Russia, and France, UAVs are extensively being used to spray disinfectants on government buildings, emergency hospitals, and public healthcare infrastructure. However, the strict government norms and laws regarding the usage of airspace to eliminate accidental damages may hamper the unmanned aerial vehicle market growth in the coming years.
Regional Analysis-
Increasing Usage of Drones in Military Applications to Spur Growth in North America
Geographically, in 2019, North America held USD 3.88 billion in terms of revenue. The region is anticipated to dominate during the forthcoming years owing to the rising usage of UAVs in several military applications. The U.S. houses a large number of renowned military UAVs manufacturers who are gaining a competitive edge by exporting their products to numerous countries worldwide.
Europe, on the other hand, is expected to grow moderately stoked by the high demand for navigation systems, avionics, software solutions, and cameras in the region. In the Asia Pacific, the high demand for advanced warfare UAVs for tactical and strategic applications would affect the market growth positively in the near future. The major importers in this region are China, Pakistan, and India.
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