Europe Unmanned Aerial Vehicle Market

Europe Unmanned Aerial Vehicle (UAV) Market Size & Growth (2022 - 2027):

Europe Unmanned Aerial Vehicle (UAV) Market is expected to progress at a CAGR of approximately 13.7% over the forecast period to reach a valuation close to USD 2.1 Billion by 2026.

Drones are useful to provide essentials, including water and food, in areas affected by natural disasters, including earthquakes and floods. Small unmanned aerial vehicles (UAVs) are used to locate hostages during search and rescue operations. They are often used in missions that are hazardous to human actions. Such instruments are rapidly becoming an essential part of modern warfare. They can be either remotely controlled, semi-autonomous, or fully autonomous. Increasing terrorism and natural disasters are leading to an increase in the number of rescue operations carried out each year. It is, in fact, has served for the good of the market.

Europe Unmanned Aerial Vehicle (UAV) Market Regional Presence:

The Europe Unmanned Aerial Vehicle (UAV) market is geographically segmented into the regions of Germany, the United Kingdom, France, Spain, Italy, and the rest of Europe. The advancements in the design of drones, increasing terrorist attacks, and commercial applications are driving the demand for these UAVs across all the regions of Europe. In 2018, Russia held the leading portion of the European market due to its applications in the military and defense sectors.

Europe Unmanned Aerial Vehicle (UAV) Market Drivers and Restraints:

Significant factors that drive the European Unmanned Aerial Vehicle Market forward are:

1. The commercial use of UAVs has increased significantly over the last few years. The growing trend in the delivery of goods using these tools is expected to give rise to the industry.
2. Drone delivery services are likely to provide ample opportunities for businesses in developing countries with insufficient transport infrastructure.
3. Applications are also found in several industries, including telecommunications, oil and gas, and mining.
4. Increased military budgets in the European countries are anticipated to fuel the development of the unmanned aerial vehicle industry. Russia is investing to strengthen its combat UAVs by 2021.
5. A growing focus on improving flight control systems is likely to boost their adoption for military operations.
6. The upcoming move towards modern agricultural practices is also expected to drive market growth. UAV is used to monitor livestock, crops, water levels, and crop spraying.

The factors holding the Europe Unmanned Aerial Vehicle (UAV) market back include:

1. Stringent government regulations can restrict the growth of the market.
2. Ethical concerns regarding the use of unmanned aerial vehicles are on the verge of hindering growth prospects.
3. Strict airspace regulations in major countries of the region may hinder the growth of the market.

EUROPE UNMANNED AERIAL VEHICLE (UAV) MARKET  REPORT COVERAGE:

Market Segmentation:

Europe Unmanned Aerial Vehicle (UAV) Industry – By UAV Size:

• Small UAV
• Medium UAV
• Large UAV

The small UAV segment is expected to grow at the highest CAGR during the forecast period, due to the demand for surveillance and reconnaissance applications from the defense sector.  The need for small UAVs from the commercial sector is also increasing, as these UAVs are used in precision agriculture, logistics & transport, wildlife surveys, search & rescue operations.

Europe Unmanned Aerial Vehicle (UAV) market Industry – By Application:

• Military
• Civil
• Commercial

The commercial segment of the UAV market is projected to grow at the highest CAGR from 2021 to 2026. This rise can be due to the increased adoption of UAVs for various commercial applications, such as product delivery, tracking, surveying, mapping, and remote sensing.

Europe Unmanned Aerial Vehicle (UAV) market Industry – By Region:

• Germany
• United Kingdom
• France
• Rest of Europe

Leading Key Players covered in this research report are:

1. The Boeing Company
2. Sz DJI Technology
3. Aerovironment Inc.
4. Lockheed Martin Corporation
5. Elbit Systems Limited
6. BAE Systems
7. Northrop Grumman Corporation
8. General Atomics
9. Parrot Drones SA
10. Thales SA
11. Airbus SE
12. Microdrones GmbH