Global UAV Drone Market Projected to Surpass $55 Million
– Increasing use of UAV drones in the military & defense sector is fueling the growth of the market.
– The fixed-wing sub-segment and military & defense sub-segment are estimated to lead the market.
– The consumer sub-segment is expected to observe highest growth.
– The North America market is projected to dominate the market during the forecast period.
NEW YORK, April 26, 2021 /PRNewswire/ — A new report on the Global UAV Drone Market has been added by Research Dive to its repository. As per the report, the market is expected to garner $55,649.0 million by 2027 growing at a CAGR of 19.9% from 2020 to 2027. This report provides thorough insights into the current condition sand future perspective of the global industry. The report is articulated by expert market analysts and promises to be a trustworthy source of data and detailed market insights for new players, investors, prevailing market players, stakeholders, shareholders, etc.
Factors Impacting the UAV Drone Market Growth:
Growing usage of UAV drones in the defense and military sector for performing several operations such as surveillance, reconnaissance, target acquisition, intelligence, and carrying aircraft ordnance is surging the growth of the global UAV drone market. Moreover, implementation of the Artificial Intelligence (AI) in drone systems for numerous operational uses in various end-use industries is estimated to unlock profitable opportunities for the market growth during the forecast period. However, strict rules and regulations related to air traffic management for UAV drones is likely to obstruct the market growth.
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COVID-19 Pandemic Impact on the UAV Drone Market:
The abrupt rise of the COVID-19 pandemic has impacted the growth of the global UAV drone industry in various ways. The increasing use of the drones during the pandemic for surveying COVID-19 infected regions and for keeping a track of the lockdown processes are boosting the growth of the market during the pandemic period. Moreover, growing usage of drones by delivery agencies to send essential items to people during lockdown period is fueling the growth of the market.
The report segments the global UAV drone market into product, application, end user, and region.
Fixed-Wing Sub-Segment to Dominate the Market Growth
Among product segment, the fixed-wing sub-segment is projected to dominate the market by growing at a CAGR of 19.7% during the forecast period. The growth of this sub-segment is mainly because of the growing usage of fixed-wing type of drones as they can fly for longer hours than other drones.
Military & Defense Sub-Segment to Grab Major Market Share
Among application segment, the military & defense sub-segment is expected to hold the highest share of the market by growing at a CAGR of 20.8% during the forecast period. The growth of this segment is mostly due to growing use of UAV drones in agricultural activities for observing the effect of pesticides, fertilizers, water, and seeds in the farms.
Consumer Sub-Segment to Observe Highest Growth
Among end user segment, the consumer sub-segment is expected to undergo highest growth by growing at a CAGR of 20.9% during the forecast period. The growth of this segment is mostly due to growing use of UAV drones by consumers for numerous uses.
North America UAV Drone Market to Dominate the Global Market
The report analyzes the global UAV drone market across several regions such as North America, Europe, Asia Pacific, and LAMEA. Among these, the North America UAV Drone Market is expected to lead the global market by growing at a CAGR of 17.5% during the estimated timeframe. The growth of this region market is mainly owing to the increasing usage of drones in the commercial sector in this region for numerous operational uses like delivering products to the consumers at their particular location.
Top 10 Companies in UAV Drone:
The report lists some of the leading players functioning in the in the global UAV drone industry including
- General Atomics
- Northrop Grumman
- Textron Inc.
- SZ DJI
- 3D Robotics
- Aeryon Labs
The report also offers several industry-top tactics and approaches such as top strategic moves & developments, product/service range, business performance, Porter five forces analysis, and SWOT analysis of the foremost players, functioning in the global industry. For instance, in February 2021, Zala Aero Group, a Russian designer and producer of unmanned aerial systems, payloads, and mobile systems launched the ZX1, a new hybrid unmanned aerial vehicle (UAV), at the 2021 International Defense Industry Exhibition (IDEX) and Conference in Abu Dhabi. The new drone requires minimum assistance of an operator, decreases the number of equipment used while carrying out a flight mission, and fully automates flight operations of the UAV. – Inquire and Get Quick Access to Top Companies Development Strategies Summary Report [80 pages]
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Research Dive is a market research firm based in Pune, India. Maintaining the integrity and authenticity of the services, the firm provides the services that are solely based on its exclusive data model, compelled by the 360-degree research methodology, which guarantees comprehensive and accurate analysis. With an unprecedented access to several paid data resources, team of expert researchers, and strict work ethic, the firm offers insights that are extremely precise and reliable. Scrutinizing relevant news releases, government publications, decades of trade data, and technical & white papers, Research dive deliver the required services to its clients well within the required timeframe. Its expertise is focused on examining niche markets, targeting its major driving factors, and spotting threatening hindrances. Complementarily, it also has a seamless collaboration with the major industry aficionado that further offers its research an edge.