Latest] Global Unmanned Aerial Vehicle UAV Market

Austin, TX, USA, July 18, 2023 (GLOBE NEWSWIRE) -- Custom Market Insights has published a new research report titled “Unmanned Aerial Vehicle Market Size, Trends and Insights By Wing Type (Fixed Wing, Rotary Wing), By Application (Transportation and Warehouse, Surveying and Mapping, Search and Rescue, Firefighting, Intelligence, Surveillance, and Reconnaissance (ISR), Combat Support), By End Use Insights (Military & Defense , Commercial, Government & Law Enforcement, Consumer), and By Region - Global Industry Overview, Statistical Data, Competitive Analysis, Share, Outlook, and Forecast 2023–2032” in its research database.

“According to the latest research study, the demand of global Unmanned Aerial Vehicle UAV Market size & share was valued at approximately USD 26.8 Billion in 2022 and is expected to reach USD 29.1 Billion in 2023 and is expected to reach a value of around USD 50.4 Billion by 2032, at a compound annual growth rate (CAGR) of about 8.2% during the forecast period 2023 to 2032.”

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Unmanned Aerial Vehicle Market: Overview

Unmanned aerial vehicles (UAVs), sometimes known as drones, have inbuilt computers that can be operated from the ground. Their cutting-edge aerodynamic structures were created with the intention of utilizing the required navigation system to carry out many tasks.

In the beginning, the technology was created for risky military missions to protect human life. When flown from a high altitude, UAVs made expressly for military uses are well-equipped with missiles to attack the intended targets. One of the major reasons most likely to fuel the market expansion for Unmanned Aerial Vehicle (UAV) in the approaching years is the global construction industry’s pronounced rise.

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Growth Factors

The increased use of smart technology for surveillance, analysis, imaging, and other purposes across many fronts is anticipated to accelerate the expansion of unmanned aerial vehicles (UAV). The military & defense, agricultural, civil & commercial, logistics & transportation, healthcare, construction & mining, and other industries are just a few that use it.

Unmanned aerial vehicle (UAV) market expansion is anticipated to be fueled by factors like increased military spending and rising need for better surveillance systems. For market participants, defense modernization and contracts and agreements with armed services are expected to present attractive development prospects. Government spending on UAVS has surged as a result of the escalating terrorism threat and growing security concerns throughout the world.

Solutions utilizing unmanned aerial vehicles have a wide range of uses in the military, civic, commercial, logistics, transportation, and mining industries, among others, for effective asset monitoring and area surveillance to achieve the highest level of operational effectiveness. UAVs can conduct covert operations, work during the night, operate anywhere, and are easy to deploy.

These advantages have encouraged governments to boost their spending in the purchase and development of numerous UAVS on a worldwide scale. Modern access control and video surveillance technologies have significantly improved the security of important organizations. Unmanned aircraft are utilized in large cities for tactical planning and observation of significant events or crowds. During the projected period, these factors are anticipated to drive the expansion of the unmanned aerial vehicle (UAV) market globally.

The two primary industries where drone use is increasing are healthcare and agriculture. The way that agriculture and farming are done is also changing because to drones. By using drone technology, farms and agricultural organizations may improve crop yields, save time, and make decisions regarding land management that will improve long-term performance. Workers in the agriculture sector may gather information, automate pointless farming tasks, and generally boost production.

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Our Free Sample Report Consists of the following:

Introduction, Overview, and in-depth industry analysis are all included in the 2023 updated report.
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About 220+ Pages Research Report (Including Recent Research)
Provide detailed chapter-by-chapter guidance on the Request.
Updated Regional Analysis with a Graphical Representation of Size, Share, and Trends for the Year 2023
Includes Tables and figures have been updated.
The most recent version of the report includes the Top Market Players, their Business Strategies, Sales Volume, and Revenue Analysis
Custom Market Insights (CMI) research methodology

(Please note that the sample of the Unmanned Aerial Vehicle UAV report has been modified to include the COVID-19 impact study prior to delivery.)

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Segmental Overview

The unmanned aerial vehicle market is segmented into the wing type, application, and end use insights. According to the wing type, the fixed wing type segment is expected to increase at the quickest rate. Over the projected period, the fixed-wing sector is anticipated to have a significantly quick rate of revenue growth.

Since they don’t need to use as much energy to hold themselves up in the air, they are far more efficient. These are therefore able to go farther, examine far bigger areas, and hover over the object of interest for a prolonged amount of time. Gas engines may be employed as its source of propulsion in addition to offering increased efficiency, and because of the higher energy density of fuel, many fixed-wing LAVS may stay in the air for 16 hours or more.

The global market is divided into transportation and warehouse, surveying and mapping, search and rescue, firefighting, intelligence, surveillance, and reconnaissance (ISR), and combat support depending on the manner of application. The surveying and mapping segment is dominating the unmanned aerial vehicle market during the forecast period.

UAVs are widely used for in-depth mapping as well as for monitoring and assessment of many applications in real time. UAVS are immensely useful in delivering trustworthy information for a range of tasks, including road planning and mapping Hence, owning to the benefits of UAVs the demand is rising in the market.

The market for UAV by end use insights, military & defense segment is growing at the highest CAGR during the forecast period. Due to a large increase in the demand for strategic and tactical UAVs in the military sector, the military segment is predicted to hold the majority of revenue share over the next years.

In addition, a number of nations have boosted their purchases of certain UAVs for unique tasks, such as High Altitude Long Endurance (HALE) and Medium Altitude Long Endurance (MALE) UAVs. Therefore, the market’s growth in the next years is projected to be boosted by the increasing need for special purpose UAVs for military operations.

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Key questions answered in this report:

What is the size of the Unmanned Aerial Vehicle UAV market and what is its expected growth rate?
What are the primary driving factors that push the Unmanned Aerial Vehicle UAV market forward?
What are the Unmanned Aerial Vehicle UAV Industry's top companies?
What are the different categories that the Unmanned Aerial Vehicle UAV Market caters to?
What will be the fastest-growing segment or region?
In the value chain, what role do essential players play?
What is the procedure for getting a free copy of the Unmanned Aerial Vehicle UAV market sample report and company profiles?

Key Offerings:

Market Share, Size & Forecast by Revenue | 2023−2032
Market Dynamics – Growth Drivers, Restraints, Investment Opportunities, and Leading Trends
Market Segmentation – A detailed analysis by Types of Services, by End-User Services, and by regions
Competitive Landscape – Top Key Vendors and Other Prominent Vendors

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Regional Overview

The biggest market share of the total market was held by North America in the unmanned aerial vehicle market. Due to the significant presence of major corporations in the region, including Northrop Grumman Corporation, Textron Inc., and Lockheed Martin Corporation, among others, the North American UAV market is anticipated to have a higher revenue share than other regional markets during the forecast period. Drones are being used more often for military purposes, including aerial mapping, forest monitoring, and infrastructure evaluations.

Report Scope

Feature of the Report	Details
Market Size in 2023	USD 29.1 Billion
Projected Market Size in 2032	USD 50.4 Billion
Market Size in 2022	USD 26.8 Billion
CAGR Growth Rate	8.2% CAGR
Base Year	2022
Forecast Period	2023-2032
Key Segment	By Wing Type, Application, End Use Insights and Region
Report Coverage	Revenue Estimation and Forecast, Company Profile, Competitive Landscape, Growth Factors and Recent Trends
Regional Scope	North America, Europe, Asia Pacific, Middle East & Africa, and South & Central America
Buying Options	Request tailored purchasing options to fulfil your requirements for research.

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Competitive Landscape/ Key Players Insights

The players have implemented various strategies to expand in the global unmanned aerial vehicle market. The study contains a thorough competitive analysis of the major unmanned aerial vehicle market participants and information on their company overviews, recent developments, and vital business strategies.

Some of the prominent players

General Atomics Aeronautical Systems Inc.
Northrop Grumman Corporation
Elbit Systems Ltd.
Israel Aerospace Industries Ltd.
SZ DJI Technology Co. Ltd.
AeroVironment Inc.
Lockheed Martin Corporation
Kesper Drone
Thales Group
Aeronautics Ltd.
Others

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The global Unmanned aerial vehicle market is segmented as follows:

By Wing Type

Fixed Wing
Rotary Wing

By Application

Transportation and Warehouse
Surveying and Mapping
Search and Rescue
Firefighting
Intelligence, Surveillance, and Reconnaissance (ISR)
Combat Support

By End Use Insights

Military & Defense
Commercial
Government & Law Enforcement
Consumer

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By Region

North America

The U.S.
Canada
Mexico

Europe

France
The UK
Spain
Germany
Italy
Rest of Europe

Asia Pacific

China
Japan
India
Australia
South Korea
Rest of Asia Pacific

The Middle East & Africa

Saudi Arabia
UAE
Egypt
Kuwait
South Africa
Rest of the Middle East & Africa

Latin America

Brazil
Argentina
Rest of Latin America

This Unmanned Aerial Vehicle UAV Market Research/Analysis Report Contains Answers to the following Questions.

Which Trends Are Causing These Developments?
Who Are the Global Key Players in This Unmanned Aerial Vehicle UAV Market? What are Their Company Profile, Product Information, and Contact Information?
What Was the Global Market Status of the Unmanned Aerial Vehicle UAV Market? What Was the Capacity, Production Value, Cost and PROFIT of the Unmanned Aerial Vehicle UAV Market?
What Is the Current Market Status of the Unmanned Aerial Vehicle UAV Industry? What's Market Competition in This Industry, Both Company and Country Wise? What's Market Analysis of Unmanned Aerial Vehicle UAV Market by Considering Applications and Types?
What Are Projections of the Global Unmanned Aerial Vehicle UAV Industry Considering Capacity, Production and Production Value? What Will Be the Estimation of Cost and Profit? What Will Be Market Share, Supply and Consumption? What about imports and exports?
What Is Unmanned Aerial Vehicle UAV Market Chain Analysis by Upstream Raw Materials and Downstream Industry?
What Is the Economic Impact On Unmanned Aerial Vehicle UAV Industry? What are Global Macroeconomic Environment Analysis Results? What Are Global Macroeconomic Environment Development Trends?
What Are Market Dynamics of Unmanned Aerial Vehicle UAV Market? What Are Challenges and Opportunities?
What Should Be Entry Strategies, Countermeasures to Economic Impact, and Marketing Channels for Unmanned Aerial Vehicle UAV Industry?

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Reasons to Purchase Unmanned Aerial Vehicle UAV Market Report

Unmanned Aerial Vehicle UAV Market Report provides qualitative and quantitative analysis of the market based on segmentation involving economic and non-economic factors.
Unmanned Aerial Vehicle UAV Market report outlines market value (USD) data for each segment and sub-segment.
This report indicates the region and segment expected to witness the fastest growth and dominate the market.
Unmanned Aerial Vehicle UAV Market Analysis by geography highlights the consumption of the product/service in the region and indicates the factors affecting the market within each region.
The competitive landscape incorporates the market ranking of the major players, along with new service/product launches, partnerships, business expansions, and acquisitions in the past five years of companies profiled.
Extensive company profiles comprising company overview, company insights, product benchmarking, and SWOT analysis for the major market players.
The Industry's current and future market outlook concerning recent developments (which involve growth opportunities and drivers as well as challenges and restraints of both emerging and developed regions.
Unmanned Aerial Vehicle UAV Market Includes in-depth market analysis from various perspectives through Porter's five forces analysis and provides insight into the market through Value Chain.

Reasons for the Research Report

The study provides a thorough overview of the global Unmanned Aerial Vehicle UAV market. Compare your performance to that of the market as a whole.

Aim to maintain competitiveness while innovations from established key players fuel market growth.

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What does the report include?

Drivers, restrictions, and opportunities are among the qualitative elements covered in the worldwide Unmanned Aerial Vehicle UAV market analysis.

The competitive environment of current and potential participants in the Unmanned Aerial Vehicle UAV market is covered in the report, as well as those companies' strategic product development ambitions.

According to the component, application, and industry vertical, this study analyzes the market qualitatively and quantitatively. Additionally, the report offers comparable data for the important regions.

For each segment mentioned above, actual market sizes and forecasts have been given.

Who should buy this report?

Participants and stakeholders worldwide Unmanned Aerial Vehicle UAV market should find this report useful. The research will be useful to all market participants in the Unmanned Aerial Vehicle UAV industry.
Managers in the Unmanned Aerial Vehicle UAV sector are interested in publishing up-to-date and projected data about the worldwide Unmanned Aerial Vehicle UAV market.
Governmental agencies, regulatory bodies, decision-makers, and organizations want to invest in Unmanned Aerial Vehicle UAV products' market trends.
Market insights are sought for by analysts, researchers, educators, strategy managers, and government organizations to develop plans.

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