UAV Market Size with 19% CAGR expectations over the forecast period to reach USD 2 billion in 2023

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Unmanned Aerial Vehicles Market size likely to
reach USD 2 billion in 2023, growing at a CAGR of
over 19 Global Market Insights Inc.
Fuel Cell Market size worth 25.5bn by 2024
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Key Insights from Unmanned Aerial Vehicles Market

• Rotary blade commercial drone market size was
  valued at over USD 400 million in 2015. Fixed
  position as well as multi directional flying
  features are likely to drive growth, over the
  forecast period.
• Government applications accounted for over 40 of
  the global commercial UAV market share in 2015
  and are expected to remain dominant owing to
  rising significance in mapping, scientific
  research and rescue missions.
• U.S. commercial drone market will be driven by
  high demand across end-use areas. Rising emphasis
  on the use of UAVs for agricultural purposes will
  fuel demand in Asia Pacific.
• Key industry participants include AeroVironment,
  Aurora Flight Sciences, Parrot SA, BAE Systems,
  Challis Heliplane UAV, Denel Dynamics, DJI
  Innovations and Draganfly Innovations. Other
  prominent industry partners are The Boeing
  Company, Lockheed Martin, Northrop Grumman, and
  Prox Dynamics.

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North America commercial drone market size, by
application, 2012-2023 (USD Million)

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360 Analysis

• Application Analysis
• Unmanned Aerial Vehicle (UAV) drone market is
  increasingly being adopted by several end use
  industries. For instance, a mini drone was
  initially deployed to make the package delivery
  in the U.S.
• Regional Analysis
• North America, driven by the U.S. commercial
  drone market size is estimated to attain 52 of
  the overall industry share and is likely to reach
  USD 1 billion by 2023.
• Asia pacific was valued over USD 120 million in
  2015 and is anticipated to reach USD 475 million
  by 2023, growing at a CAGR of over 20 over the
  forecast period. Increasing deployment of drone
  for agricultural purposes is anticipated to fuel
  the demand.
• Competitive Market Share
• Global commercial drone market share was captured
  by top three participants, accounted for over 70
  of the overall industry share in 2014. Some of
  the other major manufacturers include
  AeroVironment and DJI Innovations among others.

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