Exploring the Unmanned Aerial Vehicles (UAV) Market Trends

1
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ON US FOR THEIR GROWTH STRATEGIES. UKNAOWVMMORaErk
e(/KtnbowyledPgeostionret.asopfreSquaelset_f,reSe
_ytrisal)tems, 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 FREE BROCHURE
(/pdfdownloadNew.asp?id662) FREE SAMPLE REPORT
(/requestsampleNew.asp?id662) Report Code AS
2802Sep, 2022, by marketsandmarkets.com DESCRIPTIO
N TABLE OF CONTENTS METHODOLOGY DOWNLOAD PDF
(/PDFDOWNLOADNEW.ASP?ID662) Updated on March
03, 2023 394 Pages Report The UAV Market is
projected to grow from USD 26.2 billion in 2022
to USD 38.3 Billion by 2027, at a CAGR of 7.9
from 2022 to 2027. Unmanned aerial vehicles
(UAVs) are remotely piloted, optionally piloted,
or fully autonomous aerial vehicles that play a
significant role in the defense and commercial
sectors. They are commonly termed drones and are
mostly known for their wide usage in various
military missions, such as border surveillance
and combat operations. These vehicles are also
used for mapping, surveying, and determining the
weather conditions of a specific area. The use of
UAVs has been prevalent among defense forces
worldwide for a long time. However, in recent
times, several investments have been made by
public and private sector organizations to
develop new and sophisticated UAVs according to
their requirements. The potential of UAVs to be
used in several prospective applications in the
civil and commercial sectors has led to
advancements in them. The civil commercial
application segment of the UAV industry
(https//www.marketsandmarkets.com/PressReleases/u
nmanned- aerial-vehicles-uav.asp) is projected
to grow significantly in the next 10 years
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UAV Market Forecast to 2027 To know about the
assumptions considered for the study, Request for
Free Sample Report (https//www.marketsandmarkets.
com/requestsampleNew.asp?id662) UAV Market
Dynamics Driver Sensor and technology
development For sensor and technology development
in UAV/drone-based remote sensing, the
development and design of sensors and cameras
are essential. The capability of sensors and
cameras will extend the use of UAVs to handle
various urban issues. As high-fidelity sensors
continue to become smaller and more compact,
drones are now capable of carrying more payload
options than ever before. With all these various
models, picking the right one for each unique
industrial use can be overwhelming. Using UAVs as
remote sensing platforms offers the unique
ability for repeated deployment for the
acquisition of high temporal resolution data at
very high spatial resolution. These sensor and
technology development leads to the reduction in
the price of drone components like ICs
(controllers, GPS). The costs of drones are
falling as the costs of various ICs (controllers,
GPS), IoT sensors (https//www.marketsandmarkets.
com/Market-Reports/sensors-iot-market-26520972.htm
l), MEMS sensors, and batteries are going down,
whereas their performance is rising, like GPS
accuracy. The drone's hardware is mostly made of
fiber composites, whose cost is decreasing due to
advancements in technology and investment in
drone hardware worldwide. This leads to the
wide-scale availability of drones not only for
industry but also for hobbyists. Restraint
Drone Safety Security Issues Drone use has been
identified as a possible and vital risk to
information security. Several drones have
significant flaws in their designs and lack
wireless security protection systems and footage
encryption software. Some of the existing
threats and vulnerabilities associated with
drones are stated below
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nical issues Technical malfunctions in drones
include application errors such as etween remote
devices of users and drones, triggering them to
either collapse or fly e is another technical
issue that results in a reduced flight time of
drones. Especially in cold weather, the life
span of batteries decreases, leading to a short
flying time and the potential for
Susceptibility to tech connection failures b
away. The battery lif
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one frequency CONTACT US (/CONTACTUS.ASP) with a
single-board computer and jamming it using the
Wi-Fi signals of hackers. Hackers install
and organize a Raspberry Pi, a type of tiny
single-board computer for this. Opportunity
Simultaneous localization and mapping Simultaneous
Localization and Mapping (SLAM)
(https//www.marketsandmarkets.com/Market-
Reports/simultaneous-localization-mapping-market-1
7638387.html) algorithms are used to develop
landmark- based, terrain-aided navigation
systems with the capability for online map
building. Such systems simultaneously use the
generated map to bind errors in the inertial
navigation system. SLAM techniques have been
widely used for ground robot navigation, but only
a few are based on vision sensors. Usually, these
techniques are associated with GPS/INS sensors.
Research by S. Lacroix et in 2002 presented a new
concept of autonomous UAV navigation based on a
SLAM algorithm and applied on a 6 DOF airborne
platform that the group's work demonstrated the
potential for applying SLAM-augmented, low-cost
GPS/INS systems to UAVs in GPS-denied
situations, such as urban canyons, indoors, or
even underwater. Other Stanford researchers (K.
Jonghyuk et al.) have developed passive GPS-free
navigation for small UAVs (https//www.marketsand
markets.com/Market-Reports/small-uav-market-141134
567.html) operating in areas where GPS signals
are jammed or obscured by natural or man-made
features. The navigation method is based on only
an IMU and a monocular camera, with SLAM
providing the cornerstone of this work. SLAM
algorithms will help drones become more robust
and are a major opportunity for the UAV
industry. Challenge Delivery authentication and
cybersecurity concerns A protocol for
authentication of drone deliveries needs to be in
place to ensure privacy and security. Proper
guidelines have to be in place to ensure that the
delivery reaches the correct recipient. Densely
populated suburbs could require essential
thumb/fingerprint authorization or digital
signatures to receive packages. The rising number
of hacking incidents is also a matter of concern
since they have limited security mechanisms.
Companies in the drone industry provide analytics
software-as-a-service to their clients, which
requires cloud- based servers to process data.
Since the data is transmitted and stored in an
external cloud network, it is prone to hacking.
Industries also need highly secured cloud servers
for data security. Therefore, data security and
data encryption concerns act as a challenge for
the UAV market. Based on Platform, the defense
government segment registered the largest share
in 2022 Based on platform, the UAV market has
been classified into civil commercial and
defense government. Defense Government held
the largest share of market in 2022 owing to high
price of military drones (https//www.marketsandm
arkets.com/Market-Reports/military-drone-market-22
1577711.html). Defense Government segment is
further classified into small , tactical and
strategic. High-altitude long-endurance (HALE)
and medium-altitude long-endurance (MALE) UAVs
fall under the category of strategic drones. At
high altitudes, these UAVs tend to be heavy and
hence, require long endurance and increased
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e military segment held the leading share of
market in 2022. UAV market is segmented into
military, commercial, government law
enforcement, y segment held the leading share of
the UAV market in 2022 owing to high price of the
(m/)ilitary 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
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CONTACT US (/CONTACTUS.ASP) 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 (https//www.market
sandmarkets.com/Market-Reports/agriculture-drones-
market-23709764.html) 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
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5
AV market will witness growth. The US Postal
Service is exploring the possibility of ehicle
fleets to advance mail delivery operations and
support its collection of and other data.
Companies such as DJI (China) are actively
developing solutions for U(/)AV-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
for postal deliveries, the U introducing UAVs
into its v geospatial, sensor, image,
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tChAeREfEoRrSe(c/CaAsRtEpERe.AriSoPd) CONTACT US
(/CONTACTUS.ASP) The growth of the UAV market in
Asia Pacific can be attributed to the rise in
military spending (defense and homeland security)
of the countries in the region to enhance their
defense capabilities. Moreover, political
tensions in countries of Asia Pacific have led to
the deployment of drones to ensure the security
of their borders. This serves to be one of the
most significant factors driving the growth of
the UAV market in the region. The prevailing
trends of automation in India, Australia, and
China and the ongoing globalization are also
fueling the growth of the UAV market in Asia
Pacific. UAVs are being increasingly used in the
real estate, pollution monitoring, and
agriculture sectors to carry out inspections in
China and Japan. The demand for UAVs in China is
increasing for military and commercial
applications. Manufacturers in the country have
been focusing on the development of
high-performance drones that can work in
different temperatures. In addition, China has
secured the second position in the list of top
10 countries with the highest defense budgets. In
2021, China invested USD 293.0 billion in the
defense sector.
UAV Market by Region To know about the
assumptions considered for the study, download
the pdf brochure (https//www.marketsandmarkets.co
m/pdfdownloadNew.asp?id662)
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es of primary participants in the small
drone markets.com/Market-Reports/small-uav-market-
141134567.html) market is as follows
The break-up of the profil (https//www.marketsand
By Company Type
Tier 132 Tier 240 and Tier 328 By
Designation CLevel Executives35
Directors25and Others40
(/)
By Region North America39.19 Europe21.06
AsiaPacific28.25Middle East10 Latin HOME
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UAV Companies - Key Market Players The UAV
Companies (https//www.marketsandmarkets.com/Resea
rchInsight/unmanned-aerial-vehicles-uav-
market.asp) are dominated by a few globally
established players such as DJI
(https//www.dji.com/) (China), Northrop Grumman
Corporation (https//www.northropgrumman.com/)
(US) Raytheon Technologies Corporation
(https//www.rtx.com/) (US), Israel Aerospace
Industry Ltd. (https//www.iai.co.il/) (Israel),
General Atomics Aeronautical Systems
(https//www.ga.com/) (GA-ASI). These players
have adopted various growth strategies such as
contracts, joint ventures, partnerships
agreements, acquisitions, and new product
launches to further expand their presence in the
UAV market.
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Scope of the Report
Report Metric
Details
Estimated Market Size
USD 26.2 Billion
Projected Market Size
USD 38.3 Billion
Growth Rate
7.9
Market size available for years
2019-2027
Base year considered
2021
Forecast period
2022-2027
Forecast units
Value (USD)
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
Segments covered
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North America, Asia Pacific, Europe, the Middle
East, Latin America, and Africa
Geographies covered
DJI (China), Parrot Drone SAS (France), Israel
Aerospace Industry Ltd. (Israel), AeroVironment,
Inc. (US), and Lockheed Martin Corporation (US)
(/C) ompanies covered
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(/CAREER.ASP) COCNoTAmCTpUaSn(i/eCsONcToACvTeUrSe.
AdS(PD) rone Delair (France), Microdrones GmbH
(Germany), Turkish Aerospace start-ups and
UAV Industries (Turkey), Shield AI (US) ecosystem)
UAV Market Highlights This research report
categorizes the UAV market based on platform,
type, application, mode of operation, power
source, and region Aspects Details
OEM Aftermarket
By Point of Sale
Platform Payload Datalink Ground Control
Station Launch Recovery System
By Systems
Civil Commercial Defense Government
By Platform
Fixed Wing Rotary Wing Hybrid
By Type
Military Commercial Government Law Consumer
By Application
Remotely Piloted Optionally Piloted Fully
Autonomous
By Mode of Operation
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Military Public Safety Security
Agriculture Insurance Energy
By End-Use
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Transport, Logistics Warehousing Journalism
Media Arts, Entertainment Recreation
Healthcare Social Assistance
lt25 KG 25-170 KG gt170 KG
UAV Market, By MTOW
Visual Line Of Sight Extended Visual Line Of
Sight Beyond Visual Line Of Sight
UAV Market, By Range
North America Europe Asia Pacific Middle East
Latin America Africa
By Region
Recent Developments In June 2022, DJI launched
DJI RS 3 and DJI RS 3 Pro, which incorporate a
range of new features. A redesigned axes-locking
system means that the process is now automated.
By turning on the gimbal, the automated axis
locks release and unfold the gimbal, allowing the
operator to get started in seconds. In March
2022, DJI launched DJI RS 3 and DJI RS 3 Pro,
which incorporate a range of new features to get
filmmakers up and running as quickly as possible.
A redesigned axes-locking system means that the
process is now automated. By simply turning on
the gimbal, the automated axis locks release and
unfold the gimbal, allowing the operator to get
started in seconds. In May 2022, General Atomics
Aeronautical Systems launched Gambit a Autonomous
Collaborative Platform (ACP) designed through
digital engineering to speed its time to market
and lower acquisition costs. Gambit is part of a
broader Family of Systems strategy that began
with Predator and Reaper and continues in
support of USAF's future force design
concepts. In December 2021, General Atomics
Aeronautical Systems announced launch of Mojave a
unmanned aerial vehicle (UAV) capable of short
takeoff and landing (STOL). The Mojave completed
its first test flight in the summer of 2021 and
was formally unveiled by GA on 9 December 2021.
It is being developed to
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10
e also offering the option to be outfitted with
various electronic systems to assist
combat loadout whil ground troops. In June 2021,
EHan
g Holdings Limited conducted a test flight of its
first passenger-grade autonomous aircraft for
permission to fly in open airspace in Japan. It
acquired a preliminary flight grant from the
Ministry of Land, Infrastructure, Transport, and
Tourism of Japan (MLIT) with a local partner.
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What is the current size of the UAV market?
Who are the winners in the UAV market?
What are some of the technological advancements in the market?
What are the factors driving the growth of the
market? To speak to our analyst for a
discussion on the above findings, click Speak to
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REPORT CODE AS 2802
PUBLISHED ON SEP, 2022
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ADJACENT MARKETS Drone Simulator Market
(/Market-Reports/drone-simulator-market-145601556.
html) Drone Defense System Market
(/Market-Reports/drone-identification-market-85835
738.html) VTOL UAV Market (/Market-Reports/vtol-u
av-market-192738850.html) Multirotor Drones
Market (/Market-Reports/multirotor-drones-market-1
77177851.html) Autonomous Last Mile Delivery
Market (/Market-Reports/autonomous-last-mile-deliv
ery-market- 41240862.html) REQUEST BUNDLE
REPORTS (/RequestBundleReport.asp?id662)
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