Global UAV Market Size, Study, by Product, Application, and Forecasts 2027 (Business Opportunities - Other Business Ads)

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Global UAV Market Size, Study, by Product, Application, and Forecasts 2027

Bharat Book Bureau Provides the Trending Market Research Report on “UAV Market by Point of Sale, Systems, Platform (Civil & Commercial, and Defense & Government), Function, End Use, Application, Type (Fixed Wing, Rotary Wing, Hybrid), Mode of Operation, Mtow, Range & Region - Global Forecast to 2027” under the Defence Market Research Report Category. The report offers a collection of superior Market research, Market analysis, competitive intelligence, and Market reports.
The UAV Market is projected to grow from USD 26.2 billion in 2022 to USD 38.3 Billion by 2027, at a CAGR of 7.9% from 2022 to 2027. Rising procurement of small drone for military applications like ISR to drive the small drone market growth during the forecast period.

Investments in the UAV industry have been increasing drastically during the period 2011-2020. Drone services received significant investments, with passenger drones receiving the highest investment in 2021. The use of UAVs is growing rapidly across many civil applications such as aerial photography and videography, 3D mapping, delivery services, inspection, and data transmission.

Drones are particularly important for inspecting difficult-to-reach locations at certain altitudes or in contaminated surroundings. The use of drones has modernized telecommunication tower scrutiny as they can be used to carry out supervision of these towers cost-effectively and in less time. Drones can also be employed for aerial evaluation of buildings and other infrastructure such as pipelines, electric grids, offshore plants, and solar plates. They can use thermal imaging cameras to detect hotspots on solar plates; spots where energy is not spreading evenly.

This can enhance the productivity of solar power plants by the instant identification of potentially problematic areas. For instance, the Lockheed Martin Procerus Technologies Indago quadrotor can be used for inspections near energy generation plants. This drone can capture comprehensive images from 300 feet away, thereby eliminating the need for shutting down power plants for inspections.

Based on Application, the UAV market has been classified into military, commercial, government & law enforcement, and consumer. With development of technology and growing regulatory relief worldwide for drone operations the UAVs in commercial and consumer applications are increasing.

UAV market has been segmented and analyzed based on their types: fixed-wing and rotary-wing. Increased use of Predator and Reaper Fixed-wing UAVs in military applications is set to boost the market of Fixed-wing. The fixed-wing segment has been further divided into conventional take-off and landing (CTOL) and vertical take-off and landing (VTOL). Vertical take-off and landing (VTOL) fixed-wing UAVs are used in a broad range of commercial and military aerial applications.

Major players in the UAV market are DJI (China), Parrot Drone SAS (France), Israel Aerospace Industry Ltd. (Israel), AeroVironment, Inc. (US), and Lockheed Martin Corporation (US). These companies have strong distribution networks in the logistics business across North America, Europe, Asia Pacific and other regions in turn driving the demand for last mile deliveries and drone package deliveries.

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Last Update : Oct 25, 2022 1:03 AM
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