UAV Market Projected to Reach $38.3 Billion by 2027 - PowerPoint PPT Presentation

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UAV Market Projected to Reach $38.3 Billion by 2027

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The UAV Market is poised for significant growth, with projections indicating an increase from USD 26.2 billion in 2022 to USD 38.3 billion by 2027, boasting a Compound Annual Growth Rate (CAGR) of 7.9%. – PowerPoint PPT presentation

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Title: UAV Market Projected to Reach $38.3 Billion by 2027


1
UAV Market Projected to Reach 38.3 Billion by
2027, Driven by Rising Demand in Defense and
Commercial Sectors
The UAV Market is poised for significant growth,
with projections indicating an increase from USD
26.2 billion in 2022 to USD 38.3 billion by 2027,
boasting a Compound Annual Growth Rate (CAGR) of
7.9. This substantial expansion is primarily
attributed to the surging adoption of Unmanned
Aerial Systems (UAS) in commercial applications
and heightened procurement of UAVs by military
forces worldwide. Market Insights As the global
acceptance of UAVs or drones continues to rise
steadily, they are finding extensive use in law
enforcement and various commercial sectors.
Drones are becoming increasingly popular due to
their cost- effectiveness and substantial
technological advancements in recent
years. Download PDF Brochure _at_ https//www.markets
andmarkets.com/pdfdownloadNew.asp?id662 One of
the key drivers for the growing UAV market is the
increasing demand for military Command, Control,
Communications, Computers, Intelligence,
Surveillance, and Reconnaissance (C4ISR)
capabilities. These capabilities empower drones
to collect crucial data in ongoing and
life-threatening military missions. C4ISR,
enhanced by Artificial Intelligence (AI) and
machine learning, plays a pivotal role in
identifying and classifying vehicles, improving
image feeds, and providing early warnings
regarding obstacles and changing ground
conditions. Governments worldwide are rapidly
adopting these technologies to enhance their
defense arsenals. Segment Highlights Platform
The UAV market segments platforms into civil
commercial and defense government. Within the
defense government category, there are further
subdivisions into small, tactical, and strategic
drones. Strategic drones, including HALE
(High-Altitude Long Endurance) and MALE
(Medium-Altitude Long Endurance) types,
dominated the market in 2022. Tactical UAVs,
flying at altitudes ranging from 3,000 to 8,000
meters, bridge the gap between small and
strategic UAVs, offering
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flexibility and high-end capabilities. The demand
for tactical drones with hand- launch
capabilities and an endurance of about 2 hours,
coupled with suitable payload capacities for
surveillance, has propelled the growth of the
tactical drones segment in the defense
government UAV market. Function UAVs fulfill
various functions, such as passenger transport,
combat duties, inspection, monitoring,
surveying, mapping, spraying, seeding, cargo
transportation, and more. Special-purpose drones,
which include decoy drones, swarm drones, and
combat UAVs, find extensive use in military
applications. These drones are designed for
specific tasks, such as aerial combat and swarm
operations. Exo-stratospheric drones, which
serve as launch-effect vehicles, also fall into
the special-purpose category. The MQ-9 Reaper by
General Atomics is a well-known battlefield
drone widely used across the globe. Regional
Outlook The Asia Pacific region is identified as
a high-growth potential market for the UAV
industry during the forecast period. This growth
is fueled by the increasing number of UAV
manufacturers in China and India and a concurrent
rise in military drone procurement. China led
the Asia Pacific UAV market in 2022, being one of
the primary global drone manufacturers. China's
focus on tactical UAV procurement, with
applications in civil and defense sectors, has
garnered significant demand from countries in
Asia Pacific, Africa, and the Middle East,
positively impacting China's UAV market
growth. Key Market Players Prominent players in
the UAV market include 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 Marketsa
ndMarkets has been recognized as one of
Americas best management consulting firms by
Forbes, as per their recent report. MarketsandMar
kets is a blue ocean alternative in growth
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We have the widest lens on emerging
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Expansion, Go-to-Market (GTM) Strategy to
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Execution, Market Share Gain, Account Enablement,
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