[264 Pages Report] The UAV market was valued at USD 18.14 Billion in 2017 and is projected to reach USD 52.30 Billion by 2025, at a CAGR of 14.15% from 2018 to 2025. The objective of this study is to define, describe, segment, and forecast the UAV market based on UAV type, application, class, system, mode of operation, range, point of sale, MTOW, and region.
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The UAV market has been segmented on the basis of UAV type, application, class, system, mode of operation, range, point of sale, MTOW, and region. Based on range, the UAV market has been classified into Visual Line of Sight (VLOS), Extended Visual Line of Sight (EVLOS), and Beyond Light of Sight (BLOS). The Visual Line of Sight (VLOS) segment of the UAV market is projected to grow at the highest CAGR from 2017 to 2022. This growth can be attributed to the increasing use of VLOS UAVs in commercial and consumer applications.
The increasing use of UAVs in various commercial applications, such as monitoring, surveying and mapping, precision agriculture, aerial remote sensing, and product delivery, is also contributing to the growth of the UAV market. Rise in the procurement of military UAVs by defense forces worldwide is one of the most significant factors projected to drive the growth of the UAV market.
The UAV market has been segmented into military, civil & commercial, homeland security, and consumer. The civil & commercial segment of the UAV market is projected to grow at the highest CAGR from 2017 to 2022. This growth can be attributed to the increased adoption of UAVs for various civil & commercial applications, such as monitoring, surveying, mapping, and remote sensing.
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The UAV market has been segmented into North America, Europe, Asia Pacific, the Middle East, Latin America, and Africa. North America is estimated to be the largest market for UAV in 2018. The increasing use of UAVs for border and maritime surveillance activities in countries, such as US and Canada, is driving the growth of the UAV market in North America.
Lack of proper air traffic management for UAVs and issues with the safety and security of UAVs are acting as key challenges to the growth of the UAV market. Major companies operating in the UAV market include General Atomics (US), Northrop Grumman (US), Textron (US), Boeing (US), DJI (China), Parrot (France), 3D Robotics (US), and Aeryon Labs (Canada). New product launches and supply contracts were among the key growth strategies adopted by leading players in the UAV market from 2012 to 2017.
- Manufacturers of UAVs
- Component Manufacturers of UAVs
- System Integrators
- Government and Certification Bodies
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