UAV Market Set to Reach USD 38.3 Billion by 2027 - PowerPoint PPT Presentation

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UAV Market Set to Reach USD 38.3 Billion by 2027

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The Global UAV Market is projected to witness substantial expansion, with a predicted increase from USD 26.2 billion in 2022 to USD 38.3 billion by 2027, at a compound annual growth rate (CAGR) of 7.9%. – PowerPoint PPT presentation

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Title: UAV Market Set to Reach USD 38.3 Billion by 2027


1
UAV Market Set to Reach USD 38.3 Billion by 2027
Unmanned Aerial Vehicles (UAVs), commonly known
as drones, have experienced significant growth
and adoption across various industries in recent
years. The Global UAV Market is projected to
witness substantial expansion, with a predicted
increase from USD 26.2 billion in 2022 to USD
38.3 billion by 2027, at a compound annual
growth rate (CAGR) of 7.9. This growth can be
attributed to the rising
adoption of UAVs in commercial
applications increased
and the
  • procurement of drones by military forces
    worldwide. Let's delve into the details of this
    market and explore the key factors driving its
    growth.
  • Download PDF Brochure _at_
  • https//www.marketsandmarkets.com/pdfdownloadNew.a
    sp?id662
  • Applications and Advancements
  • UAVs have gained acceptance and popularity due to
    their cost-effectiveness and advancements in
    technology. The increasing demand for military
    Command, Control, Communications, Computers,
    Intelligence, Surveillance, and Reconnaissance
    (C4ISR) capabilities is driving the need for
    UAVs. Drones equipped with C4ISR capabilities
    play a crucial role in gathering data for
    military missions, enhancing command and control
    strategies, and reinforcing intelligence
    frameworks. Moreover, the integration of
    artificial intelligence (AI) in C4ISR enables
    drones to identify and classify targets, improve
    image feeds, and provide valuable assistance in
    driving operations. Governments worldwide are
    swiftly adopting UAV technologies to bolster
    their defense arsenal and improve national
    security.
  • Segmentation and Growth
  • The UAV market is segmented based on various
    factors, including platform, function, and
    region. In terms of platform, the defense
    government segment is expected to experience the
    highest growth rate during the forecast period.
    This segment encompasses small, tactical, and
    strategic UAVs, with strategic drones like High-
    Altitude Long Endurance (HALE) and
    Medium-Altitude Long Endurance (MALE) holding a
    significant market share. Tactical UAVs, flying
    at altitudes ranging from 3,000 to 8,000 meters,
    bridge the gap between small and strategic
    drones, offering flexibility and high-end
    capabilities. The demand for tactical drones,
    which can be hand-launched and provide
    surveillance information for about 2 hours, has
    fueled their growth in the defense government
    sector.

2
Function-wise, special purpose drones are
estimated to hold a large market share. These
drones serve specific purposes such as decoy
drones, swarm drones, and combat UAVs, primarily
used in military applications. The increased
utilization of special purpose drones in combat
operations has driven their demand. Additionally,
the Asia Pacific region is expected to be a
high-growth market for UAVs due to the rising
number of UAV manufacturers in countries like
China and India. The increased procurement of
military drones in the region has further boosted
market growth. Key Market Players Several key
players dominate the UAV market, including DJI
(China), Parrot Drone SAS (France), Israel
Aerospace Industry Ltd. (Israel), AeroVironment,
Inc. (US), and Lockheed Martin Corporation (US).
These companies are at the forefront of UAV
technology and contribute significantly to the
market's development through their innovative
solutions and expertise. Inquiry Before Buying
_at_ https//www.marketsandmarkets.com/Enquiry_Before
_BuyingNew.asp?id662 About MarketsandMarkets M
arketsandMarkets is a blue ocean alternative in
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co-creating supernormal growth for clients. The
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trillion of new revenue streams that are
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decade alone. We work with clients on growth
programs, helping them monetize this 25 trillion
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Expansion, Go-to-Market (GTM) Strategy to
Execution, Market Share Gain, Account Enablement,
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ecosystem and understand the revenue shifts
happening in their industry. Contact Mr. Aashish
Mehra MarketsandMarkets INC. 630 Dundee
Road Suite 430 Northbrook, IL 60062 USA
1-888-600-6441
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