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UAV Drone Market Report

RA08348

UAV Drone Market by Product (Fixed-Wing, Rotary Blade, and Hybrid), Application (Military & Defense, Retail, Construction, Agriculture, Entertainment, Law Enforcement, and Others), End User (Military, Consumer, and Civil/Commercial), and Regional Analysis (North America, Europe, Asia-Pacific, and LAMEA): Global Opportunity Analysis and Industry Forecast, 2020–2027

RA08348

Pages: 219

Mar 2021

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 Drone Market

Global UAV Drone Market Analysis

The global UAV drone market accounted for $19,528.6 million in 2019 and is predicted to grow with a CAGR of 19.9% by generating a revenue of $55,649.0 million by 2027.

Market Synopsis

Increasing application of drones in various end use industries, such as event industry and military, is predicted to be the major driving factor for the global UAV drone market growth in the estimated period.

However, the rules and regulations laid by government bodies to their respective countries for flying drones in public areas is a growth-restricting factor for the market.

According to the regional analysis, the North America UAV drone market accounted for $7,012.7 million in 2019 and is predicted to grow with a CAGR of 17.5% in the projected timeframe.

UAV Drone Overview

The UAV drone is an unmanned aerial vehicle or aerial vehicle without a pilot present in the aircraft. The aircraft is controlled by a ground-based controller with the help of a remote connection. UAV drones, also known as flying robots, are primarily used for military purposes to perform various missions. These drones can send information in the form of pictures and aerial footages about the mission progress and happenings to the military forces.  

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

The COVID-19 pandemic impacted different markets in varying ways. The government bodies of various countries used drones to survey the affected regions as well as to keep a track on the imposed lockdowns. The increased use of drones during the pandemic is predicted to be a major driving factor for the global UAV drone market. Many delivery agencies also tried to send out essential items to people amid restriction of movement and this is expected to boost the market in the coming years.

Rise in the Use of Drones in Military and Defense Sector to Surge the Market Growth

The global UAV drone market has witnessed significant growth due to rise in the use of drones in military and defense sector. The military and defense sectors use drone for various operations such as target acquisition, surveillance, intelligence, reconnaissance, and carrying aircraft ordnance such as missiles, ATGMs, and/or bombs in targeted points for drone strikes. The major benefit of using drones in military and defense sector is that the drones are remotely controlled and the chances of getting caught by enemies or being harmed during the mission are close to zero. These aspects are predicted to drive the global UAV drone market in the estimated period.

Moreover, the increasing demand of the UAV drones in multiple end-use industries such the event industry is predicted to be the biggest driving factor for the global UAV drone market in the estimated period. For instance, in the event industry, drones are used to perform quick and accurate mapping of the event area for the organizers to get a better idea about the spatial possibilities. In addition, drones are also used to capture footage or images from angles that would otherwise be difficult to acquire like aerial shots and videos through confined spaces that would be difficult for a human to traverse.

Moreover, implementation of the AI in the drone system for the use of various operational uses in multiple end-use industries is predicted to create more investment opportunities for the global UAV drone market in the estimated period.

To know more about global UAV Drone market drivers, get in touch with our analysts here.

Rules and Regulations Related to Air Traffic Management for UAVs to Act as a Major Growth Restraint

Remote ground control systems (GSC) also known as a ground cockpit are used to control drones. There are certain rules and regulation for flying any object as per the air traffic management. No one can fly a drone without following the laws laid out by the specific country where the drone is being used. For instance, in India, drones are not allowed to fly more than 400 feet vertically. Moreover, a special permit is required to fly a commercial drone. If a drone is flown below 400 feet, the drone must be categorized into ‘Nano category’ and must be registered and issued with a Unique Identification Number (UIN). The rules and regulations related to drone are very strict in many countries which is predicted to hinder the market growth in the estimated period.

To know more about global UAV Drone market opportunities, get in touch with our analysts here.

Global UAV Drone Market, by Product

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

Global UAV Drone Market, by Product

Source: Research Dive Analysis

The fixed-wing sub-segment is predicted to have a dominating market share in the global market. The fixed-wing sub-segment accounted for $14,177.9 million in 2019 and is predicted to grow with a CAGR of 19.7% in the estimated period. Fixed-wing drones are the most commonly used as they can fly for longer hours than other drones, which is predicted to drive the sub-segment market in the estimated period. 

The rotary blade sub-segment is predicted to have the fastest market growth. The rotary blade sub-segment was accounted for $4,403.9 million in 2019 and is predicted to grow with a CAGR of 20.8% in the estimated period. 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 market in the projected timeframe.

Global UAV Drone Market, by Application 

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

Global UAV Drone Market, by Application

Source: Research Dive Analysis

The military & defense sub-segment of the global UAV drone market is projected to have the highest market share in terms of revenue in the estimated period. Military & defense sub-segment was accounted for $13,275.3 million in 2019 and is predicted to grow with a CAGR of 20.8% in the estimated period. Increasing use of drones in military & defense sector for performing various operation across the border lines is predicted to boost the sub-segment market in the estimated period.

The agriculture sub-segment is anticipated to have a highest growth rate in the forecast period. Agriculture sub-segment was accounted for $719.2 million in 2019 and is predicted to grow with a CAGR of 22.9% in the estimated period. Rise in the demand of drone in agriculture for monitoring the effect of fertilizers, pesticides, water, and seeds in the farmland is predicted to boost the sub-segment market in the forecast period. 

Global UAV Drone Market, by End-User

Based on end-user the market has been sub-segmented military, consumer, and civil/commercial. Out of these, consumer sub-segment is predicted to have the fastest growth rate along with military sub-segment is predicted to hold highest market share.

Global UAV Drone Market, by End-User

Source: Research Dive Analysis

The consumer end-user sub-segment of the global UAV drone market is predicted to have the maximum growth rate. The sub-segment was accounted for $3,377.1 million in 2019 and is predicted to grow with a CAGR of 20.9% in the estimated period. 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 government sectors to ensure that people are following the laws and rules is predicted to drive the sub-segment growth.

The military sub-segment is predicted to have a dominating market share in the global market. Military end-user sub-segment was accounted for $13,541.8 million in 2019 and is predicted to grow with a CAGR of 19.6% in the estimated period. 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 market in the estimated period.

Global UAV Drone Market, Regional Insights

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

Global UAV Drone Market, Regional Insights

Source: Research Dive Analysis

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

The North America UAV drone market accounted $7,012.7 million in 2019 and is projected to grow with a CAGR of 17.5%. 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 regions is predicted to boost the market in the estimated period. In addition, presence of large number of drone manufacturing companies along with rise in the research and development about drones is predicted to create more investment opportunities for the UAV drone market in North America region in the estimated period. For instance, in February 2021, General Atomics Aeronautical Systems, Inc, a US 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 U.K.

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

The Asia-Pacific UAV drone market registered a revenue of $5,759.0 million in 2019 and is anticipated to grow at a CAGR of 21.7% in the forecast period. Rise in the manufacturing of original equipment manufacturer (OEMs) towards the development of UAV drones is predicted to be the major driving factor for the region market in the estimated period. Moreover, rise in the use of the drone in the agriculture sector to monitor the cultivation process and yield better results is predicted to boost the region market in the estimated period.

Competitive Scenario in the Global UAV Drone Market

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

Competitive Scenario in the Global UAV Drone Market

Source: Research Dive Analysis

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

Porter’s Five Forces Analysis for the Global UAV Drone Market:

  • Bargaining Power of Suppliers: Suppliers and manufacturers in the UAV Drone market are high in number. 
    Thus, the bargaining power suppliers is moderate.
  • Bargaining Power of Buyers: There are large number of players operating in the UAV drone market; however, price plays an important role in the bargaining power of the buyers. 
    Thus, buyer’s bargaining power will be moderate.
  • Threat of New Entrants:  Huge investment is required to manufacture and adopt the technological advancements of the field.
    Thus, the threat of the new entrants is low.
  • Threat of Substitutes: There are numerous alternative products in the UAV Drone market. 
    Thus, the threat of substitutes is high.
  • Competitive Rivalry in the Market: Due to the presence of large number of manufacturers there is huge competitive rivalry among the suppliers and manufacturers.
    Therefore, competitive rivalry in the market is high.
    ​​​​​​​​

Aspect

Particulars

  Historical Market Estimations

  2018-2019

  Base Year for Market Estimation

  2019

  Forecast Timeline for Market Projection

  2020-2027

  Geographical Scope

  North America, Europe, Asia-Pacific, LAMEA

  Segmentation by Product

  • Fixed-Wing
  • Rotary Blade
  • Hybrid

  Segmentation by Application

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

  Segmentation by End-User

  • Military
  • Consumer
  • Civil/Commercial

  Key Companies Profiled

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

Frequently Asked Questions
 

A. The size of the global UAV Drone market was over $19,528.6 million in 2019 and is projected to reach $55,649.0 million by 2027.

A. General Atomics and Northrop Grumman. are some of the key players in the global UAV Drone 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 Drone market is anticipated to grow at 21.7% 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

1.4.1.Assumptions
1.4.2.Forecast parameters

1.5.Data sources

1.5.1.Primary
1.5.2.Secondary

2.Executive Summary

2.1.360° summary
2.2.Product trends
2.3.Application trends
2.4.End-User trends

3.Market overview

3.1.Market segmentation & definitions
3.2.Key takeaways

3.2.1.Top investment pockets
3.2.2.Top winning strategies

3.3.Porter’s five forces analysis

3.3.1.Bargaining power of consumers
3.3.2.Bargaining power of suppliers
3.3.3.Threat of new entrants
3.3.4.Threat of substitutes
3.3.5.Competitive rivalry in the market

3.4.Market dynamics

3.4.1.Drivers
3.4.2.Restraints
3.4.3.Opportunities

3.5.Technology landscape
3.6.Regulatory landscape
3.7.Patent landscape
3.8.Pricing overview

3.8.1.By product 
3.8.2.By application
3.8.3.By end user
3.8.4.By region

3.9.Market value chain analysis

3.9.1.Stress point analysis
3.9.2.Raw material analysis
3.9.3.Manufacturing process
3.9.4.Distribution channel analysis
3.9.5.Operating vendors

3.9.5.1.Raw material suppliers
3.9.5.2.Product manufacturers
3.9.5.3.Product distributors

3.10.Strategic overview

4.UAV Drone Market , by Product 

4.1.Fixed-Wing

4.1.1.Market size and forecast, by region, 2019-2027
4.1.2.Comparative market share analysis, 2019-2027

4.2.Rotary Blade

4.2.1.Market size and forecast, by region, 2019-2027
4.2.2.Comparative market share analysis, 2019-2027

4.3.Hybrid

4.3.1.Market size and forecast, by region, 2019-2027
4.3.2.Comparative market share analysis, 2019-2027

5.UAV Drone Market , by Application

5.1.Military & Defense

5.1.1.Market size and forecast, by region, 2019-2027
5.1.2.Comparative market share analysis, 2019-2027

5.2.Retail

5.2.1.Market size and forecast, by region, 2019-2027
5.2.2.Comparative market share analysis, 2019-2027

5.3.Construction

5.3.1.Market size and forecast, by region, 2019-2027
5.3.2.Comparative market share analysis, 2019-2027

5.4.Agriculture

5.4.1.Market size and forecast, by region, 2019-2027
5.4.2.Comparative market share analysis, 2019-2027

5.5.Entertainment

5.5.1.Market size and forecast, by region, 2019-2027
5.5.2.Comparative market share analysis, 2019-2027

5.6.Law Enforcement

5.6.1.Market size and forecast, by region, 2019-2027
5.6.2.Comparative market share analysis, 2019-2027

5.7.Others application

5.7.1.Market size and forecast, by region, 2019-2027
5.7.2.Comparative market share analysis, 2019-2027

6.UAV Drone Market , by End user

6.1.Military

6.1.1.Market size and forecast, by region, 2019-2027
6.1.2.Comparative market share analysis, 2019-2027

6.2.Consumer

6.2.1.Market size and forecast, by region, 2019-2027
6.2.2.Comparative market share analysis, 2019-2027

6.3.Civil/Commercial

6.3.1.Market size and forecast, by region, 2019-2027
6.3.2.Comparative market share analysis, 2019-2027

7.UAV Drone Market , by Region

7.1.North Region

7.1.1.Market size and forecast, by Product , 2019-2027
7.1.2.Market size and forecast, by Application, 2019-2027
7.1.3.Market size and forecast, by End user, 2019-2027
7.1.4.Market size and forecast, by country, 2019-2027
7.1.5.Comparative market share analysis, 2019-2027

7.1.6.U.S

7.1.6.1.Market size and forecast, by Product , 2019-2027
7.1.6.2.Market size and forecast, by Application, 2019-2027
7.1.6.3.Market size and forecast, by End user, 2019-2027

7.1.7.Canada

7.1.7.1.Market size and forecast, by Product , 2019-2027
7.1.7.2.Market size and forecast, by Application, 2019-2027
7.1.7.3.Market size and forecast, by End user, 2019-2027

7.2.Europe

7.2.1.Market size and forecast, by Product , 2019-2027
7.2.2.Market size and forecast, by Application, 2019-2027
7.2.3.Market size and forecast, by End user, 2019-2027
7.2.4.Market size and forecast, by country, 2019-2027
7.2.5.Comparative market share analysis, 2019-2027

7.2.6.UK

7.2.6.1.Market size and forecast, by Product , 2019-2027
7.2.6.2.Market size and forecast, by Application, 2019-2027
7.2.6.3.Market size and forecast, by End user, 2019-2027
7.2.6.4.Comparative market share analysis, 2019-2027

7.2.7.Germany

7.2.7.1.Market size and forecast, by Product , 2019-2027
7.2.7.2.Market size and forecast, by Application, 2019-2027
7.2.7.3.Market size and forecast, by End user, 2019-2027
7.2.7.4.Comparative market share analysis, 2019-2027

7.2.8.France

7.2.8.1.Market size and forecast, by Product , 2019-2027
7.2.8.2.Market size and forecast, by Application, 2019-2027
7.2.8.3.Market size and forecast, by End user, 2019-2027
7.2.8.4.Comparative market share analysis, 2019-2027

7.2.9.Italy

7.2.9.1.Market size and forecast, by Product , 2019-2027
7.2.9.2.Market size and forecast, by Application, 2019-2027
7.2.9.3.Market size and forecast, by End user, 2019-2027
7.2.9.4.Comparative market share analysis, 2019-2027

7.2.10.Rest of Europe

7.2.10.1.Market size and forecast, by Product , 2019-2027
7.2.10.2.Market size and forecast, by Application, 2019-2027
7.2.10.3.Market size and forecast, by End user, 2019-2027
7.2.10.4.Comparative market share analysis, 2019-2027

7.3.Asia-Pacific

7.3.1.Market size and forecast, by Product , 2019-2027
7.3.2.Market size and forecast, by Application, 2019-2027
7.3.3.Market size and forecast, by End user, 2019-2027
7.3.4.Market size and forecast, by country, 2019-2027
7.3.5.Comparative market share analysis, 2019-2027

7.3.6.China

7.3.7.Market size and forecast, by Product , 2019-2027
7.3.8.Market size and forecast, by Application, 2019-2027
7.3.9.Market size and forecast, by End user, 2019-2027
7.3.10.Comparative market share analysis, 2019-2027

7.3.11.India

7.3.11.1.Market size and forecast, by Product , 2019-2027
7.3.11.2.Market size and forecast, by Application, 2019-2027
7.3.11.3.Market size and forecast, by End user, 2019-2027
7.3.11.4.Comparative market share analysis, 2019-2027

7.3.12.Japan
7.3.12.1.Market size and forecast, by Product , 2019-2027
7.3.12.2.Market size and forecast, by Application, 2019-2027
7.3.12.3.Market size and forecast, by End user, 2019-2027
7.3.12.4.Comparative market share analysis, 2019-2027

7.3.13.South Korea

7.3.13.1.Market size and forecast, by Product , 2019-2027
7.3.13.2.Market size and forecast, by Application, 2019-2027
7.3.13.3.Market size and forecast, by End user, 2019-202
7.3.13.4.Comparative market share analysis, 2019-2027

7.3.14.Australia

7.3.14.1.Market size and forecast, by Product , 2019-2027
7.3.14.2.Market size and forecast, by Application, 2019-2027
7.3.14.3.Market size and forecast, by End user, 2019-2027
7.3.14.4.Comparative market share analysis, 2019-2027

7.3.15.Rest of Asia Pacific

7.3.15.1.Market size and forecast, by Product , 2019-2027
7.3.15.2.Market size and forecast, by Application, 2019-2027
7.3.15.3.Market size and forecast, by End user, 2019-2027
7.3.15.4.Comparative market share analysis, 2019-2027

7.4.LAMEA

7.4.1.Market size and forecast, by Product , 2019-2027
7.4.2.Market size and forecast, by Application, 2019-2027
7.4.3.Market size and forecast, by End user, 2019-2027
7.4.4.Market size and forecast, by country, 2019-2027
7.4.5.Comparative market share analysis, 2019-2027

7.4.6.Latin America

7.4.6.1.Market size and forecast, by Product , 2019-2027
7.4.6.2.Market size and forecast, by Application, 2019-2027
7.4.6.3.Market size and forecast, by End user, 2019-2027
7.4.6.4.Comparative market share analysis, 2019-2027

7.4.7.Middle East

7.4.7.1.Market size and forecast, by Product , 2019-2027
7.4.7.2.Market size and forecast, by Application, 2019-2027
7.4.7.3.Market size and forecast, by End user, 2019-2027
7.4.7.4.Comparative market share analysis, 2019-2027

7.4.8.Africa

7.4.8.1.Market size and forecast, by Product , 2019-2027
7.4.8.2.Market size and forecast, by Application, 2019-2027
7.4.8.3.Market size and forecast, by End user, 2019-2027
7.4.8.4.Comparative market share analysis, 2019-2027

8.Company profiles

8.1.General Atomics

8.1.1.Business overview
8.1.2.Financial performance
8.1.3.Product portfolio
8.1.4.Recent strategic moves & developments
8.1.5.SWOT analysis

8.2.Northrop Grumman

8.2.1.Business overview
8.2.2.Financial performance
8.2.3.Product portfolio
8.2.4.Recent strategic moves & developments
8.2.5.SWOT analysis

8.3.Textron Inc.

8.3.1.Business overview
8.3.2.Financial performance
8.3.3.Product portfolio
8.3.4.Recent strategic moves & developments
8.3.5.SWOT analysis

8.4.Boeing

8.4.1.Business overview
8.4.2.Financial performance
8.4.3.Product portfolio
8.4.4.Recent strategic moves & developments
8.4.5.SWOT analysis

8.5.SZ DJI

8.5.1.Business overview
8.5.2.Financial performance
8.5.3.Product portfolio
8.5.4.Recent strategic moves & developments
8.5.5.SWOT analysis

8.6.Parrot

8.6.1.Business overview
8.6.2.Financial performance
8.6.3.Product portfolio
8.6.4.Recent strategic moves & developments
8.6.5.SWOT analysis

8.7.3D Robotics

8.7.1.Business overview
8.7.2.Financial performance
8.7.3.Product portfolio
8.7.4.Recent strategic moves & developments
8.7.5.SWOT analysis

8.8.Aeryon Labs

8.8.1.Business overview
8.8.2.Financial performance
8.8.3.Product portfolio
8.8.4.Recent strategic moves & developments
8.8.5.SWOT analysis

8.9.Aerovironment

8.9.1.Business overview
8.9.2.Financial performance
8.9.3.Product portfolio
8.9.4.Recent strategic moves & developments
8.9.5.SWOT analysis

8.10.Thales

8.10.1.Business overview
8.10.2.Financial performance
8.10.3.Product portfolio
8.10.4.Recent strategic moves & developments
8.10.5.SWOT analysis

UAV (Unmanned Aerial Vehicle) 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 drone 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 the UAV drone in various end-user industries such as agriculture, entertainment, retail, construction, and much more is predicted to boost the 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 drone market is anticipated to garner a revenue of $55,649.0 million by 2027.

Recent Developments in the Market

The prominent participants of the global UAV drone market 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 market in the coming years. For instance, 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.

In addition to this, in the same month, i.e February 2021, Kelley Aerospace, a Singapore-based aerospace company, launched a supersonic unmanned combat aerial vehicle (UCAV). This product features a monocoque that is made from carbon fiber and this allows UCAV to fly more than 4,800 Km with a maximum weight of 16,800 Kg.

Another notable development took place 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.

A month before that, 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.   

Covid-19 Impact on the Market

The Covid-19 outbreak has affected several nations, economies, and market conditions in different ways. This resulted in the usage of drones by government bodies to keep track of the infected areas and containment zones during the lockdown. This aspect is estimated to enhance the growth of the global UAV drone market in the forthcoming years. 

Future Scope of the 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 American 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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