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Global UAV Drones Market Size, Share, Trends, COVID-19 Impact & Growth Forecast Report - Segmented By Type (Commercial Drones and Military Drones), Payload (Up to 150 kg, Up to 600 kg, and More than 600 kg), Component (Camera, Battery, Propulsion System, Controller, Sensor, Navigation System, Range Extender, Frame, and Others), Application (Law Enforcement, Precision Agriculture, Media & Entertainment, Retail, Inspection & Monitoring, Surveying & Mapping, Personal, and Education, Spying, Search & Rescue Operations, Border Security, and Combat Operations), and Region (North America, Europe, APAC, Latin America, Middle East and Africa) – Industry Analysis from 2023 to 2028

Published: March, 2023
ID: 9974
Pages: 175
Formats: report pdf report excel report power bi report ppt

Global Unmanned Aerial Vehicle (UAV) Drones Market Size (2023 to 2028)

The global unmanned aerial vehicle drone market size is expected to be worth USD 21.63 billion in 2023. It is expected to grow at a CAGR of 17.22% during the forecast period and reach a value of USD 47.87 Billion by 2028.

The unmanned aerial vehicle (UAV) drone market is foreseen to develop notably during the outlook period. UAV Drones are drones that can run without human pilots on board and are a type of unmanned vehicle. The major factors that are positively influencing the market are the rising venture funding, growing demand for data that are drone-generated in commercial applications, and rapidly growing technological developments.

The major factor that is driving the growth of the Global UAV drone market is their efficiency in capturing pictures & videos, which enables the usage of these drones in a more personal and commercial capacity. Moreover, changes in government policies and the rising number of exceptions that are permitted to companies in the commercial applications of UAV drones are further fuelling the growth of the target market over the forecast period.

However, the price of the UAV drone coupled with the lack of awareness about the technology is the restraints that are hampering the growth of the Global UAV drone market. In addition, factors such as concerns regarding security & safety issues coupled with social issues like privacy & nuisance are likely to hinder the growth of the target market over the outlook period.

Nonetheless, rapid growth in the technological advancements in UAV drones is creating opportunities for the expansion of the players in the global UAV drone market.

REPORT COVERAGE:

REPORT METRIC

DETAILS

Market Size Available

2022 to 2028

Base Year

2022

Forecast Period

2023 to 2028

CAGR

17.22%

Segments Covered

By Type, Payload Outlook, Components Outlook, Application, & Region

Various Analyses Covered

Global, Regional, and country-level analysis; Segment-Level Analysis, DROC, PESTLE Analysis, Porter’s Five Forces Analysis, Competitive Landscape, Analyst Overview of Investment Opportunities

Regions Covered

North America, Europe, Asia Pacific, Latin America, Middle East & Africa

 

This research report on the global UAV drone market has been segmented and sub-segmented into the following categories.

Global UAV Drones market – By Type:

  • Commercial Drones
  • Military Drones

The Commercial Drones segment is further categorized into Fixed-Wing Drones and VTOL Drones, which are further divided into Rotary Blade Drones, Nano Drones, and Hybrid Drones. The Military Drones segment is again divided into Small Tactical Unmanned Aircraft Systems (STUAS), Medium-Altitude Long-Endurance (MALE) UAVs, and High-Altitude Long-Endurance (HALE) UAVs, and Unmanned Combat Air Systems (UCAS).

Global UAV Drones Market – By Payload Outlook:

  • Up to 150 kg
  • Up to 600 kg
  • More than 600 kg

Global UAV Drones Market - By Components Outlook:

  • Camera
  • Battery
  • Propulsion System
  • Controller
  • Sensor
  • Navigation System
  • Range Extender
  • Frame
  • Others

Global UAV Drones Market – By Application: 

  • Law Enforcement
  • Precision Agriculture
  • Media & Entertainment
  • Retail
  • Inspection & Monitoring
  • Surveying & Mapping
  • Personal
  • Education
  • Spying
  • Search & Rescue Operations
  • Border Security
  • Combat Operations

Global UAV Drones Market – By Region:

  • North America
  • Europe
  • Asia-Pacific
  • South America
  • Middle East & Africa

In the regional analysis of the global UAV drone market, North America accounted for the major share of the global business in terms of revenue. The major factors that are driving the growth of the target market in this area are the high production and the rising applications of these UAV drones in the commercial sector. The Europe Regional UAV Drones Market is accounted for as the second-largest market in terms of revenue. The growth of the market in Europe is attributed to the relaxation of regulations in the European locale, as commercial UAV drones are being used in law enforcement and the agriculture industry.

Moreover, the Asia-Pacific UAV drone market is predicted to garner the highest growth rate over the conjecture period. The major factor that is fuelling the growth of the market is the rising number of commercial drones that are used for precision agriculture, inspection, & monitoring, and surveying applications in the area. Moreover, rising tensions in the countries that are over the South China Sea & Doklam and the increasing concerns regarding terrorism & security are estimated to drive the demand for military drones in this locale.

KEY MARKET PLAYERS:

The key players of the Global UAV Drones Market include 3D Robotics, Inc. (3DR) (USA), Aeroscout GmbH (Switzerland), AeroVironment, Inc. (the USA), Aidrones GmbH (Germany), Alcore Technologies (France), BAE Systems PLC (United Kingdom), Boeing Company (USA), Delta Drone (France), DJI (China), Elbit Systems Ltd. (Israel), General Atomics Aeronautical Systems, Inc. (the USA), ING Robotic Aviation (Canada), Israel Aerospace Industries (IAI) (Israel), Leonardo SpA (Italy), Lockheed Martin Corporation (USA), Nimbus Srl (Italy), Northrop Grumman Corporation (USA), Parrot SA (France), Precisionhawk Inc. (USA), SAAB AB (Sweden), Textron Inc. (USA), Thales Group (France), VTOL Technologies (United Kingdom), Xiaomi, Inc. (China), and Yuneec Asia (Hong Kong).

RECENT HAPPENINGS IN THE MARKET:

  • BAE Systems, a British multinational security, defense, and aerospace company, has announced that they have acquired the Airborne Tactical Radios business of Raytheon Technologies Corporation to bring the industry-leading battle-tested products and capabilities into its portfolio of extensive electronic systems.
  • AeroVironment Inc., one of the major players in the Global UAV Drones Market, has won the $76 million contract that is worth one year of purchases by the U.S. Army of its aerial missile system, which is miniature in nature.

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FAQ's

1. What are the key applications of UAV Drones?

UAV drones are used in various applications, including aerial photography and videography, agriculture, surveillance, search and rescue, environmental monitoring, and delivery services.

2. What are the challenges faced by the UAV Drones Market?

Challenges include regulatory hurdles, concerns about privacy, potential security risks, and the need for robust communication systems for reliable control and data transfer.

3. What is the future outlook for the UAV Drones Market?

The future of the UAV drone market looks promising, with continued growth expected in areas such as commercial applications, defense, and public safety. Advancements in technology, regulations, and increasing awareness of the benefits of drone technology are likely to shape the market's trajectory.

 

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