UAV Market: Growing Demand in Commercial and Military Applications - PowerPoint PPT Presentation

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UAV Market: Growing Demand in Commercial and Military Applications

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Unmanned Aerial Vehicle (UAV) Market is projected to grow from USD 26.2 billion in 2022 to USD 38.3 billion by 2027, driven by increased adoption in commercial applications and procurement by military forces worldwide. – PowerPoint PPT presentation

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Title: UAV Market: Growing Demand in Commercial and Military Applications


1
UAV Market Growing Demand in Commercial and
Military Applications
The report "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 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. The market growth can be attributed to
growing increased adoption of UAS in commercial
applications and increased procurement of UAVs
by military forces worldwide. Download PDF
Brochure _at_ https//www.marketsandmarkets.com/pdfdo
wnloadNew.asp?id662 The acceptance of UAVs or
drones has steadily been increasing across the
world for use in law enforcement and commercial
applications. UAVs are witnessing increased
demand owing to their cost-effectiveness and
advancements in them over the last couple of
years. Rising demand for military C4ISR
capabilities is driving the demand for UAVs.
Drones are used to gather data about ongoing and
life-threatening military missions with the help
of their command, control, communications,
computers, intelligence, surveillance, and
reconnaissance (C4ISR) capabilities which are
used to reinforce, boost, or implement command
and control strategies and directives within
military and intelligence frameworks. C4ISR
powered by AI uses machine learning to identify
and classify tanks and other vehicles, improves
image feeds, and also provides driving
assistance by giving early warning on obstacles
and changing ground conditions. Governments are
also quickly adopting these technologies to
improve their defense arsenal. Based on
platform, the defense government segment is
anticipated to record the highest growth rate
during the forecast period Based on platform, the
UAV market has been segmented into civil
commercial and defense government. The defense
government segment is further segmented into
small, tactical, and strategic. Rising demand for
defense sector for surveillance, reconnaissance
and border security is boosting the demand for
defense government drones. The strategic type
of defense government segment held the leading
share of the market in 2022 given the high value
of strategic drones such as HALE and MALE.
Tactical UAVs fly at altitudes ranging between
3,000 and 8,000 meters and are principally used
in military applications. They fill the gap
between
2
small UAVs and strategic UAVs by combining the
flexibility of small platforms with high-end
platforms. The increasing demand for tactical
drones that can be hand- launched and have an
endurance of about 2 hours with suitable payload
capacities to provide the required surveillance
information has led to the growth of the tactical
drones segment of the UAV Industry for defense
government globally. Based on Function, the
special purpose segment is estimated to register
large share in the base year UAVs perform
various functions ranging from transporting
passengers to carrying out combat duties. Based
on function, the UAV market has been segmented
into special purpose drones, passenger drones,
inspection monitoring drones, surveying
mapping drones, spraying seeding drones, cargo
air vehicles, and others. Special purpose drones
mainly include decoy drones, swarm drones, combat
UAVs, etc., used in military applications. The
use of special purpose drone in military and
combat operations is driving the demand for these
drones. As the name suggests, special purpose
drones are specifically designed for performing a
particular set of duties. These include aerial
combat duties and lethal or swarm tasks. Exo-
stratospheric drones also fall in the category of
special purpose drones they remain in the air
as launch-effect vehicles. The MQ-9 Reaper by
General Atomics (US) is a well-known battlefield
drone that is used extensively across the
world. The Asia Pacific region is projected to be
high growth potential markets for the UAV market
during the forecast period. The rising number of
UAV manufacturers in China and India and
increased procurement of military drones is the
major factor driving the market growth in Asia
Pacific. China held the leading share in the Asia
Pacific UAV Market during 2022. China is one of
the prime manufacturers of drones globally.
China focuses on the procurement of tactical
UAVs owing to their increased applications in the
civil and defense sectors. UAV manufacturers in
the country have witnessed an increased demand
from various countries of Asia Pacific, Africa,
and the Middle East. This is positively
affecting the growth of the UAV market in China.
Top UAV Companies Major players in the UAV
market are DJI (China), Parrot Drone SAS
(France), Israel Aerospace Industry Ltd.
(Israel), AeroVironment, Inc. (US), and Lockheed
Martin Corporation (US). Ask for Sample Report
_at_ https//www.marketsandmarkets.com/requestsampleN
ew.asp?id662 About MarketsandMarkets Marketsan
dMarkets is a blue ocean alternative in growth
consulting and program management, leveraging a
man-machine offering to drive supernormal growth
for progressive organizations in the B2B space.
We have the widest lens on emerging
technologies, making us proficient in co-creating
supernormal growth for clients.
3
The B2B economy is witnessing the emergence of
25 trillion of new revenue streams that are
substituting existing revenue streams in this
decade alone. We work with clients on growth
programs, helping them monetize this 25 trillion
opportunity through our service lines - TAM
Expansion, Go-to-Market (GTM) Strategy to
Execution, Market Share Gain, Account Enablement,
and Thought Leadership Marketing. Contact Mr.
Aashish Mehra MarketsandMarkets INC. 630
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1-888-600-6441
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