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UAV Drones Market Report

RA08348

UAV Drones Market by Product Type (Fixed-Wing, Rotary Blade, and Hybrid), End-Use (Military & Defense, Retail, Construction, Agriculture, Entertainment, Law Enforcement, and Others), End-Use Industry (Military, Consumer, and Civil/Commercial), and Regional Analysis (North America, Europe, Asia-Pacific, and LAMEA): Global Opportunity Analysis and Industry Forecast, 2022–2030

RA08348

Pages: 240

Aug 2022

COVID-19

pandemic has shown to have an enormous impact on most
industries.

Click Here to access our comprehensive analysis of the

Impact of covid-19 on UAV Drones Market

Global UAV Drones Market Analysis

The global UAV drones market size was $19,784.8 million in 2021 and is predicted to grow with a CAGR of 19.6%, by generating a revenue of $102,466.7 million by 2030.

Global UAV Drones Market Analysis

Global UAV Drones Market Synopsis

Drones are a valuable addition to any industrial facility’s efforts, enabling limitless aerial perspective. The possibilities for drones to create real value are endless. Drones open up new opportunities and generate efficiencies in various industries such as defense, mining, sea ports, oil & gas, and other large industrial facilities. They have emerged as incredibly powerful, versatile industrial tools capable of completing a wide range of applications. Industry professionals are increasingly using drones to improve and optimize industrial processes as well as enhance operational efficiencies. Drones can be used during various phases of the facility’s lifecycle in manufacturing plants. The nearly limitless visibility, data gathering and analyzing capabilities make automated drones valuable for various industry sectors.

For instance, in solar energy production the output of solar panels decreases at a rate of 0.5% to 3% each year. Timely detection of such defects is important to fix anomalies to avoid severe drops in energy production. However, the conventional inspection method of walking through the solar farm with handheld cameras is not efficient enough and is highly time consuming.

A drones equipped with a thermal camera can inspect a solar farm with higher speed and accuracy. The data gathered can be analyzed to detect faults and streamline workflows in significantly less time. Aerial inspection by drone with thermal cameras capture in-depth infrared signatures and hot spots of defective panels which helps to detect anomalies and proactively address them to minimize maintenance cost and downtime. Drones inspections provide the capability to maximize output of solar farms in relatively less time and lower costs. Drones with thermal camera provide accurate heat maps that enable customers to proactively address anomalies and maximize output. These drones typically reduce the time and cost required for inspection by up to 60%.

The North America UAV drones market accounted $6,404.3 million in 2021 and is projected to grow with a CAGR of 16.8%. The growth of the North American market is mainly driven by increasing adoption of drones in the commercial sector for various operational uses such as delivering products to the consumers at their respective regions.

UAV Drones Market Overview

Unmanned Aerial Vehicle (UAV) drone, is military aircraft that is guided autonomously, by remote control, or both and that carries sensors, target designators, offensive ordnance, or electronic transmitters designed to interfere with or destroy enemy targets. They are not loaded by crew, life-support systems, and the design-safety requirements of manned aircraft, thus UAVs can be remarkably efficient, offering substantially greater range and endurance than equivalent manned systems.

Impact Analysis of COVID-19 on the Global UAV Drones Market

COVID-19 impact on UAV drones market the pre-pandemic period saw global demand for drones rise rapidly owing to their diverse application portfolio across a wide range of industries. However, as the COVID-19 epidemic hit, industrial activity around the world slowed down resulting in a decline in demand for drones. Since demand is driven by end-use industries that use drones primarily for procurement purposes, curbs on non-essential industrial activity caused demand to fall.

Despite the tepid short-term prospects, increased investments in technology are expected to fuel long-term market growth. Though somewhat restrained presently, the UAV drones market demand would continue to be driven by increased demand for data (drone-generated) in commercial applications and key technological advancements, as well as expected venture funding in UAV drones. The current pace of technological developments is expected to open new avenues for increased adoption of UAV drones for an extended number of applications across both military and commercial sectors.

Rising Demand from both Commercial and Non-commercial End-users to Surge the Market Growth

In disaster management, drones are immensely useful as they provide a birds-eye view of the entire affected area in a very short time. Drones transmit real-time videos to first responders providing real-time knowledge of the situation. This helps them understand about the extent of damage inflicted on infrastructure, the state of transportation and logistics. Drones feeds can also help in the location of stranded and trapped survivors. This helps the disaster management team to efficiently plan rescue missions and use their resources effectively. In disaster management, drones can also assist in directing stranded people to safe locations and even drop first-aid medical supplies.

Ensuring Efficiency and Safety of the Drones can be a Major Challenge to the UAV Drones Market

Like recreational drones, commercial unmanned aerial vehicles rely on global positioning technology for navigation. This gives controllers an accurate data on the location of a vehicle, even at a significant distance. The issue, however is that the GPS can fail to alert controllers of what is in the surrounding area. Without the ability to recognize other airborne objects, unmanned aerial vehicles can interfere with the flight patterns of other aircraft and pose potential safety threats. However, geo-fencing helps to address this issue by creating a virtual fence that drones adhere to. These programmed no-fly zones keep unmanned systems away from restricted areas and heights where they could interrupt manned aircraft activity.    

Changes in Government Policies, as well as an Increase in the Number of Exceptions Granted to Businesses for the Commercial Use of UAV Drones, are Driving the Market Growth

Changes in government policies, as well as an increase in the number of exceptions granted to businesses for the commercial use of UAV drones, are driving the market growth. For instance, the new liberalized drones rules announced by the Government of India in 2021, gave wings to the budding drone industry. On August 25, 2021, the Drones Rules 2021 relaxed approvals and other requirements for unmanned aircraft systems to make it easier for civilian drones operators to do business. Thus, such relaxations will help boost the drones market further. During the pandemic, vaccines were delivered to remote villages by means of drones in Telangana, India.

Global UAV Drones Market, by Product Type

Based on product type, the UAV drones market has been divided into fixed-wing, rotary blade, and hybrid. The fixed-wing sub-segment is projected to generate the maximum revenue and the rotary blade sub-segment is predicted to show the fastest growth.

Global UAV Drones Market Share, by Product Type, 2021

Global UAV Drones Market, by Product Type

The fixed-wing sub-type is anticipated to have a dominant market share and generate a revenue of $72,052.9 million by 2030, growing from $14,174.4 million in 2021. Fixed-wing drones are most commonly used as they can fly for longer hours than other drones, which is predicted to drive the sub-segment growth in the estimated period.

The rotary blade sub-type is anticipated to show the fastest growth and shall generate a revenue of $25,739.6 million by 2030, increasing from $4,648.5 million in 2021. Rotatory blade rotates around a central mass, forcing air downward and creating a vertical lift. These drones are mostly designed according to a helicopter and adorn rotary blades similar to it. Moreover, the use of rotary blade drones is significantly rising in various industries. Therefore, the increasing use of rotary blade drones is predicted to drive the sub-segment growth in the projected timeframe.

Global UAV Drones Market, by End-Use

On the basis of end-use, the market has been sub-segmented into military & defense, retail, construction, agriculture, entertainment, law enforcement, and others. The military & defense sub-segment is projected to generate the maximum revenue and the agriculture sub-segment is predicted to have the fastest growth.

Global UAV Drones Market Share, by End-Use, 2021

Global UAV Drones Market, by End-Use

The military & defense sub-type is anticipated to have a dominant market share and generate a revenue of $65,298.5 million by 2030, growing from $ 12,862.1 million in 2021. Increasing use of drones in the military & defense sector for performing various operation across the border lines is predicted to boost the sub-segment growth in the estimated period.

The agriculture sub-type is anticipated to show the fastest growth and shall generate a revenue of $5,925.7 million by 2030, increasing from $952.1 million in 2021. Rise in the demand for drones in agriculture for monitoring the effect of fertilizers, pesticides, water, and seeds in the farmland is predicted to boost the sub-segment growth in the forecast period.

Global UAV Drones Market, by End-Use Industry

On the basis of end-use industry, the market has been sub-segmented into military, consumer, and civil/commercial. Among these, the consumer sub-segment is predicted to have the fastest growth rate along with the military sub-segment is predicted to hold highest market share.

Global UAV Drones Market Share, by End-Use Industry, 2021

Global UAV Drones Market, by End-Use Industry

The consumer sub-type is anticipated to show the fastest growth and shall generate a revenue of $19,953.4 million by 2030, increasing from $3,598.0 million in 2021. Consumer sub-segment is predicted to grow due to the increase in the adoption of drones by consumers for various uses. For instance, increasing adoption of drones in the government sector to ensure that people are following the laws and rules is predicted to drive the sub-segment growth.

The military sub-type is anticipated to have a dominant market share and generate a revenue of $68,327.3 million by 2030, growing from $13,507.8 million in 2021. The military and defense sector uses drones for various operations such as surveillance, search and rescue, weather monitoring, and firefighting, which is predicted to drive the sub-segment growth in the estimated period.

Global UAV Drones Market, Regional Insights

The UAV drones market was investigated across North America, Europe, Asia-Pacific, and LAMEA.

Global UAV Drones Market Size & Forecast, by Region, 2021-2030 (USD Million)

Global UAV Drones Market, Regional Insights

The Market for UAV Drones in North America to be the Most Dominant

The North America UAV drones market accounted $6,404.3 million in 2021 and is projected to grow with a CAGR of 16.8%. The growth of the North American market is mainly driven by the increasing adoption of drones in the commercial sector for various operational uses such as delivering products to the consumers at their respective location. In addition, presence of large number of drones manufacturing companies along with rise in the research and development of drones is predicted to create more investment opportunities for major players operating in the UAV drones market in North America region in the estimated period. For instance, in February 2021, General Atomics Aeronautical Systems, Inc., a U.S. based drone manufacturing company, and GKN Aerospace, a British multinational automotive and aerospace manufacturer, signed a contract for GKN Aerospace to manufacture advanced composite V-tails for GA-ASI’s new MQ-9B SkyGuardian Remotely Piloted Aircraft System (RPAS) in the U.K.

The Market for UAV Drones in Asia-Pacific to be the Fastest Growing

The Asia-Pacific UAV drones market registered a revenue of $6,192.6 million in 2021 and is anticipated to grow at a CAGR of 21.2% in the forecast period. Rise in the manufacturing of Original Equipment Manufacturers (OEMs) towards the development of UAV drones is predicted to be the major driving factor for the regional market in the estimated period. Moreover, rise in the use of the drones in the agriculture sector to monitor the cultivation process and yield better results is predicted to boost the regional market in the estimated period.

Competitive Scenario in the Global UAV Drones Market

Product launches and collaboration are common strategies followed by major market players.

On July 27, 2022, Thales Defense & Security, Inc. (TDSI) acquired full ownership of Advanced Acoustic Concepts (AAC), and their joint venture with Leonardo DRS. As a U.S. industry contractor, AAC has a history of providing successful, innovative systems and solutions across the U.S. Navy’s Undersea Warfare domain. With AAC, TDSI will increase its engineering and industrial footprint in the U.S. defense market, with reinforced U.S.-based teams and capabilities.

Competitive Scenario in the Global UAV Drones Market

Some of the leading UAV drones market players are General Atomics, Northrop Grumman, Textron Inc., Boeing, DJI, Parrot Drone SAS, 3D Robotics Inc., Aeryon Labs Inc., Aerovironment, Inc., and Thales.

Aspect

Particulars

  Historical Market Estimations

  2020

  Base Year for Market Estimation

  2021

  Forecast Timeline for Market Projection

  2022-2030

  Geographical Scope

  North America, Europe, Asia-Pacific, LAMEA

  Segmentation by Product Type

  • Fixed-Wing
  • Rotary Blade
  • Hybrid

  Segmentation by End-Use

  • Military & Defense
  • Retail
  • Construction
  • Agriculture
  • Entertainment
  • Law Enforcement
  • Others

  Segmentation by End-Use Industry

  • Military
  • Consumer
  • Civil/Commercial

  Key Companies Profiled

  • General Atomics
  • Northrop Grumman
  • Textron Inc.
  • Boeing
  • DJI
  • Parrot Drone SAS
  • 3D Robotics Inc.
  • Aeryon Labs Inc.
  • Aerovironment, Inc.
  • Thales

Frequently Asked Questions
 

A. The size of the global UAV drones market was over $19,784.8 million in 2021 and is projected to reach $102,466.7 million by 2030.

A. General Atomics and Northrop Grumman are some of the key players in the global UAV drones market.

A. The Asia-Pacific region possesses great investment opportunities for investors to witness the most promising growth in the future.

A. Asia-Pacific UAV drones market is anticipated to grow at 21.2% CAGR during the forecast period

A. Product development and collaboration are the two key strategies opted by the operating companies in this market.

A. General Atomics and Northrop Grumman are investing more on R&D activities for developing new products and technologies.

1.Research Methodology

1.1.Desk Research
1.2.Real time insights and validation
1.3.Forecast model
1.4.Assumptions and forecast parameters
1.5.Market size estimation

1.5.1.Top-down approach
1.5.2.Bottom-up approach

2.Report Scope

2.1.Market definition
2.2.Key objectives of the study
2.3.Report overview
2.4.Market segmentation
2.5.Overview of the impact of COVID-19 on Global UAV Drones Market

3.Executive Summary

4.Market Overview

4.1.Introduction
4.2.Growth impact forces

4.2.1.Drivers
4.2.2.Restraints
4.2.3.Opportunities

4.3.Market value chain analysis

4.3.1.List of raw material suppliers
4.3.2.List of manufacturers 
4.3.3.List of distributors

4.4.Innovation & sustainability matrices

4.4.1.Technology matrix
4.4.2.Regulatory matrix

4.5.Porter’s five forces analysis

4.5.1.Bargaining power of suppliers
4.5.2.Bargaining power of consumers
4.5.3.Threat of substitutes
4.5.4.Threat of new entrants
4.5.5.Competitive rivalry intensity

4.6.PESTLE analysis

4.6.1.Political
4.6.2.Economical
4.6.3.Social
4.6.4.Technological
4.6.5.Environmental

4.7.Impact of COVID-19 on Global UAV Drones Market

4.7.1.Pre-covid market scenario
4.7.2.Post-covid market scenario

5.UAV Drones Market Analysis, by Product Type 

5.1.Overview

5.1.1.Fixed-Wing

5.1.1.1.Definition, key trends, growth factors, and opportunities, 2021-2030
5.1.1.2.Market size analysis, by region, 2021-2030
5.1.1.3.Market share analysis, by country, 2021-2030

5.1.2.Rotary Blade

5.1.2.1.Definition, key trends, growth factors, and opportunities, 2021-2030
5.1.2.2.Market size analysis, by region, 2021-2030
5.1.2.3.Market share analysis, by country, 2021-2030

5.1.3.Hybrid

5.1.3.1.Definition, key trends, growth factors, and opportunities, 2021-2030
5.1.3.2.Market size analysis, by region, 2021-2030
5.1.3.3.Market share analysis, by country, 2021-2030

5.2.Research Dive Exclusive Insights

5.2.1.Market attractiveness, 2021-2030
5.2.2.Competition heatmap, 2021-2030

6.UAV Drones Market Analysis, by End-Use

6.1.Overview

6.1.1.Military & Defense

6.1.1.1.Definition, key trends, growth factors, and opportunities, 2021-2030
6.1.1.2.Market size analysis, by region, 2021-2030
6.1.1.3.Market share analysis, by country, 2021-2030

6.1.2.Retail

6.1.2.1.Definition, key trends, growth factors, and opportunities, 2021-2030
6.1.2.2.Market size analysis, by region, 2021-2030
6.1.2.3.Market share analysis, by country, 2021-2030

6.1.3.Construction6.1.3.1.Definition, key trends, growth factors, and opportunities, 2021-2030

6.1.3.2.Market size analysis, by region, 2021-2030
6.1.3.3.Market share analysis, by country, 2021-2030

6.1.4.Agriculture

6.1.4.1.Definition, key trends, growth factors, and opportunities, 2021-2030
6.1.4.2.Market size analysis, by region, 2021-2030
6.1.4.3.Market share analysis, by country, 2021-2030

6.1.5.Entertainment

6.1.5.1.Definition, key trends, growth factors, and opportunities, 2021-2030
6.1.5.2.Market size analysis, by region, 2021-2030
6.1.5.3.Market share analysis, by country, 2021-2030

6.1.6.Law enforcement

6.1.6.1.Definition, key trends, growth factors, and opportunities, 2021-2030
6.1.6.2.Market size analysis, by region, 2021-2030
6.1.6.3.Market share analysis, by country, 2021-2030

6.1.7.Others

6.1.7.1.Definition, key trends, growth factors, and opportunities, 2021-2030
6.1.7.2.Market size analysis, by region, 2021-2030
6.1.7.3.Market share analysis, by country, 2021-2030

6.2.Research Dive Exclusive Insights

6.2.1.Market attractiveness, 2021-2030
6.2.2.Competition heatmap, 2021-2030

7.UAV Drones Market Analysis, By End-Use Industry 

7.1.Overview

7.1.1.Military
7.1.1.1.Definition, key trends, growth factors, and opportunities, 2021-2030
7.1.1.2.Market size analysis, by region, 2021-2030
7.1.1.3.Market share analysis, by country, 2021-2030

7.1.2.Consumer

7.1.2.1.Definition, key trends, growth factors, and opportunities, 2021-2030
7.1.2.2.Market size analysis, by region, 2021-2030
7.1.2.3.Market share analysis, by country, 2021-2030

7.1.3.Civil or Commercial

7.1.3.1.Definition, key trends, growth factors, and opportunities, 2021-2030
7.1.3.2.Market size analysis, by region, 2021-2030
7.1.3.3.Market share analysis, by country, 2021-2030

7.2.Research Dive Exclusive Insights

7.2.1.Market attractiveness, 2021-2030
7.2.2.Competition heatmap, 2021-2030

8.UAV Drones Market Analysis, by Region

8.1.North America

8.1.1.U.S.

8.1.1.1.Market size analysis, by Product Type, 2021-2030
8.1.1.2.Market size analysis, by End-Use, 2021-2030
8.1.1.3.Market size analysis, by End-Use Industry, 2021-2030

8.1.2.Canada

8.1.2.1.Market size analysis, by Product Type, 2021-2030
8.1.2.2.Market size analysis, by End-Use, 2021-2030
8.1.2.3.Market size analysis, by End-Use Industry, 2021-2030

8.1.3.Mexico

8.1.3.1.Market size analysis, by Product Type, 2021-2030
8.1.3.2.Market size analysis, by End-Use, 2021-2030
8.1.3.3.Market size analysis, by End-Use Industry, 2021-2030

8.1.4.Research Dive Exclusive Insights

8.1.4.1.Market attractiveness, 2021-2030
8.1.4.2.Competition heatmap, 2021-2030

8.2.Europe

8.2.1.Germany , 2021-2030

8.2.1.1.Market size analysis, by Product Type, 2021-2030
8.2.1.2.Market size analysis, by End-Use, 2021-2030
8.2.1.3.Market size analysis, by End-Use Industry, 2021-2030

8.2.2.UK

8.2.2.1.Market size analysis, by Product Type, 2021-2030
8.2.2.2.Market size analysis, by End-Use, 2021-2030
8.2.2.3.Market size analysis, by End-Use Industry, 2021-2030

8.2.3.France

8.2.3.1.Market size analysis, by Product Type, 2021-2030
8.2.3.2.Market size analysis, by End-Use, 2021-2030
8.2.3.3.Market size analysis, by End-Use Industry, 2021-2030

8.2.4.Spain

8.2.4.1.Market size analysis, by Product Type, 2021-2030
8.2.4.2.Market size analysis, by End-Use, 2021-2030
8.2.4.3.Market size analysis, by End-Use Industry, 2021-2030

8.2.5.Italy

8.2.5.1.Market size analysis, by Product Type, 2021-2030
8.2.5.2.Market size analysis, by End-Use, 2021-2030
8.2.5.3.Market size analysis, by End-Use Industry, 2021-2030

8.2.6.Rest of Europe

8.2.6.1.Market size analysis, by Product Type, 2021-2030
8.2.6.2.Market size analysis, by End-Use, 2021-2030
8.2.6.3.Market size analysis, by End-Use Industry, 2021-2030

8.2.7.Research Dive Exclusive Insights

8.2.7.1.Market attractiveness, 2021-2030
8.2.7.2.Competition heatmap, 2021-2030

8.3.Asia-Pacific

8.3.1.China

8.3.1.1.Market size analysis, by Product Type, 2021-2030
8.3.1.2.Market size analysis, by End-Use, 2021-2030
8.3.1.3.Market size analysis, by End-Use Industry, 2021-2030

8.3.2.Japan 

8.3.2.1.Market size analysis, by Product Type, 2021-2030
8.3.2.2.Market size analysis, by End-Use, 2021-2030
8.3.2.3.Market size analysis, by End-Use Industry, 2021-2030

8.3.3.India

8.3.3.1.Market size analysis, by Product Type, 2021-2030
8.3.3.2.Market size analysis, by End-Use, 2021-2030
8.3.3.3.Market size analysis, by End-Use Industry, 2021-2030

8.3.4.Australia

8.3.4.1.Market size analysis, by Product Type, 2021-2030
8.3.4.2.Market size analysis, by End-Use, 2021-2030
8.3.4.3.Market size analysis, by End-Use Industry, 2021-2030

8.3.5.South Korea

8.3.5.1.Market size analysis, by Product Type, 2021-2030
8.3.5.2.Market size analysis, by End-Use, 2021-2030
8.3.5.3.Market size analysis, by End-Use Industry, 2021-2030

8.3.6.Rest of Asia-Pacific

8.3.6.1.Market size analysis, by Product Type, 2021-2030
8.3.6.2.Market size analysis, by End-Use, 2021-2030
8.3.6.3.Market size analysis, by End-Use Industry, 2021-2030

8.3.7.Research Dive Exclusive Insights

8.3.7.1.Market attractiveness, 2021-2030
8.3.7.2.Competition heatmap, 2021-2030

8.4.LAMEA

8.4.1.Brazil

8.4.1.1.Market size analysis, by Product Type, 2021-2030
8.4.1.2.Market size analysis, by End-Use, 2021-2030
8.4.1.3.Market size analysis, by End-Use Industry, 2021-2030

8.4.2.Saudi Arabia

8.4.2.1.Market size analysis, by Product Type, 2021-2030
8.4.2.2.Market size analysis, by End-Use, 2021-2030
8.4.2.3.Market size analysis, by End-Use Industry, 2021-2030

8.4.3.UAE

8.4.3.1.Market size analysis, by Product Type, 2021-2030
8.4.3.2.Market size analysis, by End-Use, 2021-2030
8.4.3.3.Market size analysis, by End-Use Industry, 2021-2030

8.4.4.South Africa

8.4.4.1.Market size analysis, by Product Type, 2021-2030
8.4.4.2.Market size analysis, by End-Use, 2021-2030
8.4.4.3.Market size analysis, by End-Use Industry, 2021-2030

8.4.5.Rest of LAMEA

8.4.5.1.Market size analysis, by Product Type, 2021-2030
8.4.5.2.Market size analysis, by End-Use, 2021-2030
8.4.5.3.Market size analysis, by End-Use Industry, 2021-2030

8.4.6.Research Dive Exclusive Insights

8.4.6.1.Market attractiveness, 2021-2030
8.4.6.2.Competition heatmap, 2021-2030

9.Competitive Landscape

9.1.Top winning strategies, 2021

9.1.1.By strategy
9.1.2.By year

9.2.Strategic overview
9.3.Market share analysis, 2021

10.Company Profiles

10.1. General Atomic

10.1.1.Overview
10.1.2.Business segments
10.1.3.Product portfolio
10.1.4.Financial performance
10.1.5.Recent developments
10.1.6.SWOT analysis

10.2.Northrop Grumman

10.2.1.Overview
10.2.2.Business segments
10.2.3.Product portfolio
10.2.4.Financial performance
10.2.5.Recent developments
10.2.6.SWOT analysis

10.3.Textron Inc.

10.3.1.Overview
10.3.2.Business segments
10.3.3.Product portfolio
10.3.4.Financial performance
10.3.5.Recent developments
10.3.6.SWOT analysis

10.4. Boeing

10.4.1.Overview
10.4.2.Business segments
10.4.3.Product portfolio
10.4.4.Financial performance
10.4.5.Recent developments
10.4.6.SWOT analysis

10.5.DJI 

10.5.1.Overview
10.5.2.Business segments
10.5.3.Product portfolio
10.5.4.Financial performance
10.5.5.Recent developments
10.5.6.SWOT analysis

10.6.Parrot Drone SAS

10.6.1.Overview
10.6.2.Business segments
10.6.3.Product portfolio
10.6.4.Financial performance
10.6.5.Recent developments
10.6.6.SWOT analysis

10.7.3D Robotics Inc.

10.7.1.Overview
10.7.2.Business segments
10.7.3.Product portfolio
10.7.4.Financial performance
10.7.5.Recent developments
10.7.6.SWOT analysis

10.8.Aeryon Labs Inc.

10.8.1.Overview
10.8.2.Business segments
10.8.3.Product portfolio
10.8.4.Financial performance
10.8.5.Recent developments
10.8.6.SWOT analysis

10.9.Aerovironment, Inc.

10.9.1.Overview
10.9.2.Business segments
10.9.3.Product portfolio
10.9.4.Financial performance
10.9.5.Recent developments
10.9.6.SWOT analysis

10.10.Thales

10.10.1.Overview
10.10.2.Business segments
10.10.3.Product portfolio
10.10.4.Financial performance
10.10.5.Recent developments
10.10.6.SWOT analysis

11.Appendix

11.1.Parent & peer market analysis
11.2.Premium insights from industry experts
11.3.Related reports

Unmanned Aerial Vehicle or UAV drones are military aircrafts that are guided by remote control or autonomously, or both. They are equipped with sensors, offensive ordnance, target designators, or electronic transmitters developed to destroy or interfere with targets. Furthermore, without any life-support systems, unencumbered by the crew, and free of safety requirements, UAV drones can be efficient, providing substantially greater endurance and range than manned systems. Apart from this, UAV drones are capable of operating at varying distances and heights. For example, close-range drones can travel up to three miles and are used by hobbyists.

Forecast Analysis of UAV Drones Market

The global UAV drones market is estimated to surge significantly in the coming years due to the rise in the usage of drones in the defense sector. Drones are utilized in the defense sector for intelligence gathering, surveillance, carrying aircraft ordnance, and reconnaissance purposes. For instance, an article published on defensenews.com stated that the Turkish government is aiming to transform its helicopter dock called Anadolu into a carrier ship for fighter drones. This setup is expected to arm at least 10 drones for various military operations. The 30 and 50 folding winged Bayraktar TB3 drones of Turkey will be able to take off and land via Anadolu dock once the project is completed.

Moreover, the rise in demand for drones in various end-user industries such as agriculture, entertainment, retail, construction, and much more is predicted to boost the UAV drones market in the forthcoming years. For instance, according to BI Intelligence reports on businessinsider.in, in December 2019, drone usage in the agriculture sector stood at 8.0%. The highest share of 42.9% comprised of the photography sector and the second-largest share of 20.7% belonged to the real estate industry. Also, the usage of artificial intelligence in the UAV drone is projected to create promising prospects for the market in the future years. Apart from this, a report published by Research Dive states that the global UAV drones market is anticipated to garner a revenue of $102,466.7 million by 2030.

Key Trends & Developments in the UAV Drones Market

The prominent participants of the global market include General Atomics, Northrop Grumman, Textron Inc., Boeing, DJI, Parrot Drone SAS, 3D Robotics Inc., Aeryon Labs Inc., Aerovironment, Inc., and Thales. These players are opting for unique tactics, such as novel product announcements, mergers & acquisitions, developing product portfolios, and investments in research & development projects. These strategies are aiding the businesses in acquiring an edge in the global UAV drones market in the coming years. For instance,

  • In November 2020, Sony Corporation, a multinational conglomerate corporation in Japan, announced the launch of a new project for drones in the AI robotics field. Sony has assigned the Airspeak brand for this project. This project aims at developing the entertainment industry, support video creators, and ensure reliability in places where drone usage has been difficult in the past.
     
  • In December 2020 where, Aevum, a provider of space transportation and technologies services, revealed the largest drone in the world called as Ravn X, which is a fully autonomous vehicle. Once this drone attains the precise speed, location, and altitude, the drone’s two-stage rocket is developed to ignite, drop within half a second, and launch a 100 Kg payload into the low-earth orbit.
     
  • In February 2021, Zala Aero Group, a Russian-based UAV development company, introduced a new hybrid UAV, the ZX1. This drone is capable of VTOL (Vertical-takeoff-and-Landing), reduction of equipment quantity during missions, and decrease operator’s role while flying.

COVID-19 Impact on the Market

The COVID-19 outbreak has affected several nations, economies, and market conditions in different ways. The demand for drones was on a rise in the pre-pandemic period due to their diverse application portfolio across a various industries. However, the COVID-19 pandemic unfavorably affected the growth of the global UAV drones market as many industrial activities worldwide were slowed down resulting in declining demand for drones.

Future Scope of the UAV Drones Market

Drone usage in the defense sector is estimated to continue in the future as well due to the need to gather intelligence for military operations. Furthermore, the North America region is anticipated to prosper in the future years due to the presence of well-known defense equipment manufacturing companies, such as Lockheed Martin and Boeing Corporation, where majority of the top class drones are developed.

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