The Global UAV Drones Market is Projected to Grow at a CAGR of 19.6% and Generate a Revenue of $102,466.7 million by 2030Download Sample Reports Overview
The global UAV drones market size is predicted to be valued at $102,466.7 million by 2030, surging from $19,784.8 million in 2021, at a noteworthy CAGR of 19.6%.
Impact Analysis of COVID-19 on the UAV Drones Market
The COVID-19 Impact on UAV Drones Market made industries to shut down or restrict their activity. As several industries including the mapping, surveying, and constructions were restricted, it made a negative impact on UAV Drones market growth. However, the major use of the UAV drones was into the defense sector for surveillance and in Signal Intelligence (SIGINT). This sector of application remained unaffected. As market has opened up and many countries have reduced the restrictions for use of drones in commercial sector, it is expected to contribute to increase in UAV drones market size. Construction sites were stopped as they were not into essential services, the use of drones in civil constructions to get the outline and get an aerial view of the site was temporarily stopped as well. However, various countries used drones to transport vaccines to remote areas where human intervention was also avoided and transport was also done at minimal cost. To deliver essential food deliveries, Amazon did experiment with sending parcels to customers with help of drones. With this they not only achieved zero human intervention but also reduced the time as well as saved overall cost. With recovery of the economy after the pandemic, soon the UAV drones market will take back its original position.
Global UAV Drones Market Analysis
Drones are specially curated to capture aerial data for consistent use at large industrial facilities, enabling rapid and seamless data collection, fueling informed business decision processes. An automated drone system increases efficiency by eliminating the need for a drone operator, while providing seamless access to routine, frequent, and real-time data. As the global political arena becomes highly volatile, countries are investing a substantial portion of their finances in strengthening their military capabilities, including surveillance activity. Sophisticated military drones for monitoring border incidents or aggression are gaining ground. For instance, ISRO (Indian Space Research Organization) the space research organization of India performed UAV based Remote Sensing (UAV-RS) which is the new addition to the North Eastern Space Applications Centre (NE-SAC) for large-scale mapping and real time assessment and monitoring activities of various applications. NE-SAC has taken the initiative for design and assembling of UAVs for various applications. This further helped them to map the landslide affected areas and to do infested crop damage assessment in North East India.
However, with so-called ‘eyes in the sky’, unmanned aerial vehicles can collect an abundance of data. In addition to video surveillance, the systems might also include sensors that detect sounds, magnetic fields and chemical composition, among other information. On a fundamental level, the public can view this collection of data as intrusive, almost as if they are being spied on. These concerns over personal privacy have prompted federal legislation to be introduced. Security concerns also remain one of the hindrances to the UAV drones market size growth. As unmanned aerial vehicles collect and share data, it is possible that other sources may attempt to jam or hack its signals. With the fear that sensitive data may end up in the wrong hands, this can create further anxiety and frustrations amongst the public. Radio Frequency shielding is one way to ensure greater security of this data in unmanned aerial systems. By building an enclosure around the vehicle, one can reduce transmissions that make its signals more vulnerable to other sources. Thus, it will solve the problem of data leak and will further add to UAV drones market demand.
Increasing defense budget of the countries and rising political wars between countries is contributing to UAV drones Market trend. As these drones cost very low as compared to other surveillance technologies used in defense sector and with addition to these there is also very less chance of casualty or chances of loss of any soldier in the surveillance procedure.
Global UAV Drones Market, Segmentation
The global UAV drones market is segmented based on product, application, end-user, and region.
The product type segment is sub segmented into fixed-wing, rotary blade, and hybrid. Among these, the rotary blade sub-segment is anticipated to have fastest market share and shall surpass $25,739.6 million by 2030, with an increase 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, increasing use of rotary blade drones is predicted to drive the sub-segment growth in the projected timeframe.
The end-use segment is sub-segmented into military & defense, retail, construction, agriculture, entertainment, law enforcement, and others. Among these, the military & defense sub-segment is anticipated to have a dominant market share and shall surpass $65,298.5 million by 2030, with an increase from $12,862.1 million in 2021. Increasing use of drones in the military & defense sector for performing various operations across the border lines is predicted to boost the sub-segment growth in the estimated period.
The end-user industry segment is sub-segmented into military, consumer, and civil/commercial. Among these, the consumer sub-segment is anticipated to have fastest growth and shall surpass $19,953.4 million by 2030, with an increase from $3,598.0 million in 2021. The consumer sub-segment is predicted to grow due to the increase in 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 UAV Drones market growth in the North America region is projected to show the dominating market share. This region’s market generated a revenue of $6,404.3 million in 2021 and is projected to reach up to $26,969.2 million by 2030.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 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 drones market demand in North America region in the estimated period.
Key Players in the Global UAV Drones Market
Some of the leading UAV drones market trend players are
- General Atomics
- Northrop Grumman
- Textron Inc.
- Parrot Drone SAS
- 3D Robotics Inc.
- Aeryon Labs Inc.
- Aerovironment, Inc.