Attractive Opportunities for Players In Unmanned Aerial Vehicle (UAV) Market - Global Forecast to 2027
/EIN News/ -- Chicago, Nov. 30, 2022 (GLOBE NEWSWIRE) -- Unmanned Aerial Vehicle (UAV) Market by Point of Sale, Systems, Platform (Civil & Commercial, and Defense & Government), Function, End Use, Application, Type (Fixed Wing, Rotary Wing, Hybrid), Mode of Operation, Mtow, Range & Region - Global Forecast to 2027, The market growth can be attributed to growing increased adoption of UAS in commercial applications and increased procurement of UAVs by military forces worldwide.
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Scope of the Report
| Report Metric | Details |
| Unmanned Aerial Vehicle (UAV) Market Research Report |
|
| Base Year | 2021 |
| Forecast Period | 2022–2027 |
| Forecast Unit | Value (USD Billion) |
| Segments Covered | By Point of Sale, By Systems, By Platform, By Function, By End Use, By Application, By Type, By Mode of Operation, MTOW, Range and By Region |
| Geographic Regions Covered | North America, Asia Pacific, Europe, and RoW |
| Companies Covered |
|
Browse in-depth TOC on "Unmanned Aerial Vehicle Industry"
388– Tables
74 – Figures
394 – Pages
DJI: DJI is a leading global manufacturer of a wide range of cameras, drones, flight controllers, drone accessories, propulsion systems, and camera gimbals (aerial and handheld). The company offers its products for different applications in the agriculture, energy, public safety, entertainment, infrastructure, and construction sectors. DJI offers its products through DJI online stores, DJI-operated stores, and retail stores. Along with civilian use, the products of the company are also used in military and intelligence applications. DJI has in-house research & development and manufacturing facilities in China as well as offices in the US, Germany, the Netherlands, Japan, China, and Hong Kong. The company generates most of its revenue from the US and China. It has received funding to the tune of ~USD 105 million to date from various investors
Northrop Grumman Corporation: Northrop Grumman Corporation provides innovative systems, products, and solutions in unmanned systems, cyber, and command, control, communications, computers, intelligence, surveillance, and reconnaissance (C4SIR). Northrop Grumman Corporation is structured into four business divisions: aeronautic systems, mission systems, defense systems, and space systems. The aeronautic systems division provides a variety of situational awareness systems, early warning systems, air radar and management systems, navigation systems, communication systems, and logistics services. Aeronautics Systems is reported in two business areas: Autonomous Systems and Manned Aircraft. The company has a presence across Europe, the Middle East, and Asia Pacific.
Raytheon Technologies Corporation: Raytheon Technologies Corporation is a global provider of high-technology products & services for the building systems and aerospace industries. It was formed through the merger of the Raytheon Company and the United Technologies Corporation aerospace businesses. The business segments include Collins Aerospace Systems, Pratt & Whitney, Raytheon Intelligence & Space, and Raytheon Missiles & Defense. Its reporting segments are Otis, Carrier, Pratt & Whitney, and Collin Aerospace & Systems. The company specializes in aerostructures, avionics, interiors, mechanical systems, mission systems, and power & control systems that serve customers across the commercial, regional, business aviation, and military sectors. Pratt & Whitney designs, manufactures, and services advanced aircraft engines and auxiliary power systems for commercial, military, and business aircraft. Raytheon Intelligence and Space delivers disruptive technologies and solutions to civil, military, and commercial customers in more than 40 countries worldwide. Raytheon Missiles & Defense produces a broad portfolio of advanced technologies, including air & missile defense systems, precision weapons, radars, and command & control systems, to deliver end-to-end solutions to detect, track, and engage threats.
General Atomics Aeronautical Systems (GA-ASI): General Atomics Aeronautical Systems (GA-ASI), a subsidiary of General Atomics, specializes in research and technology development and provides remotely operated surveillance aircraft, Predator family systems, and airborne sensors. It provides long-endurance, mission-capable UAVs with integrated sensor and data link systems required to deliver persistent flight that enables situational awareness and rapid strike. The company provides a wide range of products and services, such as remotely piloted aircraft (RPA), ground control stations (GCS), detect and avoid systems, and sensor control/image analysis software. It also offers pilot training and support services and develops meta-material antennas along with an Integrated Intelligence Center for UAVs and offers training and support services. It also supports warfighter and civil operations.
Israel Aerospace Industries (IAI): Israel Aerospace Industries Ltd. (IAI) is a leading manufacturer in the defense and commercial markets and delivers state-of-the-art technologies and systems in all domains. The company provides a wide range of solutions and services for aerial defense-from special mission aircraft and advanced unmanned aerial systems (UAS)-to precision-guided munitions, multi-layered missile defense, loitering munitions, upgrades for military aircraft and helicopters, and sophisticated C4I, ISTAR, and navigation systems. It operates in varied markets around the world, from North America through Brazil and Colombia in the South and India and South Korea in the East to Germany in Europe.
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Based on application, the military segment held the leading share of market in 2022
Based on application, the UAV market is segmented into military, commercial, government & law enforcement, and consumer. The military segment held the leading share of the UAV market in 2022 owing to high price of the military UAVs. The military UAVs are further segmented into ISR, combat operations, and delivery. The delivery sub-segment of the military UAVs is anticipated to record the highest growth during the forecast period as drones are being utilized for delivery of medical aids, food supplies, and ammunition on battlefields. Military drones are being sought across the globe for the direct delivery of emergency supplies to battlefields. Delivery drones are used by military forces to supply ammunition and food. For instance, through its website, the Program Executive Office for Unmanned Aviation and Strike Weapons of the US Marine Corps has requested information from UAV manufacturers regarding unmanned vehicles with a weight of not more than 1.320 pounds that can operate in harsh environmental conditions for delivering emergency supplies in battlefields.
By Type, fixed-wing segment witness strong growth in market during the forecast period
By Type, the UAV market has been classified into fixed-wing and rotary-wing. The fixed-wing segment is further divided into CTOL and VTOL. Vertical take-off and landing (VTOL) fixed-wing UAVs are used in a broad range of commercial and military aerial applications. The capability of these UAVs to vertically take off and land, devoid of the requirement of launchers or runways, permits them to be operated in any location or surroundings. The fixed-wing design of these UAVs offers improved endurance. VTOL fixed-wing UAVs can travel long distances at high speed, thereby offering more extensive coverage than multirotor UAVs. These UAVs are used in various applications such as farming, surveying, and mapping, along with infrastructure inspections, surveillance activities, etc. In January 2022, German drone delivery pioneer Wingcopter and Spright, a subsidiary of leading American air medical service provider Air Methods, announced an agreement worth more than USD 16 million.
The North America region held the major share of the UAV market in 2022
The growth of the UAV market in North America can be attributed to the increasing adoption of drones for commercial and defense applications. In recent years, drone manufacturers have been focusing on the development of UAVs that are cost-effective, efficient, lightweight, and capable of carrying large payloads over long distances. Such drones are ideal for commercial applications such as last-mile delivery of products, medicines, and postal packages.
Canada is focused on developing its armed forces and, specifically, its air force by increasing its fleet of combat aircraft and tankers. The existing defense policy of the country is strong, with a long-term (20 years) funding commitment that will allow the Canadian Armed Force to enhance its capabilities. This will further increase the demand for UAVs in the country. In May 2021, the Canadian military confirmed that it was issuing formal bids for the purchase of armed drones worth USD 5 billion. For this, the force had already established a central hub in Ottawa, and the procured drones were expected to be operated from this hub. This central hub is expected to have 300 members, including pilots and technicians.
Based on Industry, Logistics & Transportation segment accounted for highest CAGR
By industry, the UAV market has been segmented into defense & security, logistics & transportation, agriculture, energy & power, construction & mining, media & entertainment, insurance, wildlife & forestry, academics & research. Logistics & Transportation segment is estimated to record the highest CAGR during the forecast period with the significant growth of the global e-commerce sector, postal companies are opting for new methods to modify their traditional delivery business models. With several countries focusing on the use of UAVs for postal deliveries, the UAV market will witness growth. The US Postal Service is exploring the possibility of introducing UAVs into its vehicle fleets to advance mail delivery operations and support its collection of geospatial, sensor, image, and other data. Companies such as DJI (China) are actively developing solutions for UAV-based package delivery. Amazon (US) has already developed these services. Lower cost, density of urban environments, and the rising demand for reduced delivery times are contributing to the growth of this segment
Related Reports:
- The Military Drone Market is projected to grow from USD 12.0 billion in 2022 to USD 17.0 billion by 2027, at a CAGR of 7.3% from 2022 to 2027.
- The Anti-drone market size is valued at USD 0.9 billion in 2022 and is anticipated to USD 3.8 billion by 2027; growing at a CAGR of 27.7% from 2022 to 2027.
- The drone analytics market is estimated to be valued at USD 2.1 billion in 2022 and is projected to reach USD 6.5 billion by 2027, at a CAGR of 25.5%.
- The small drone market is projected to grow from USD 3.8 billion in 2022 to USD 6.2 Billion by 2027, at a CAGR of 10.1% from 2022 to 2027.
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