The Global Unmanned Aerial Vehicle (UAV) Market size is expected to surpass around US$ 48,886.4 Mn by 2026, growing at a CAGR of 15.8% from forecast period 2019 to 2026.

Unmanned Aerial Vehicle (UAV) is the type of aircraft that operate without a human pilot on board sometime it also known as drone. The overall operation is carried out by sensors, target designators, offensive ordnance, or electronic transmitters. These have various operation options including remote, fully autonomous or combination working. The overall operation is carried out by sensors, target designators, offensive ordnance, or electronic transmitters. These are available in three different sizes including small, medium and large UAVs. The small UAVs have the maximum gross takeoff weight (MGTW) of 0-20 lbs, normal operating altitude of less than 1200ft above ground level (AGL) in the airspeed of less than 100 knots. The medium UAVs have the Maximum Gross Takeoff Weight (MGTW) of 21-55 lbs, normal operating altitude of less than 3500 ft in the airspeed of less than 250 knots. The large UAVs have the maximum gross takeoff weight (MGTW) up to 1320 lbs, normal operating altitude of less than 18000ft mean sea level (MSL) in the airspeed of less than 250 knots.

Market Dynamics

The increasing usage of UAVs in military applications and civil & commercial applications is primarily driving the market growth. The increasing demand for UAVs in life-threatening military missions and in modern warfare techniques is supporting the market value. In addition to this, increasing demand of UAVs for guarding marine borders and to counter-terrorism is further propelling the market value. Whereas, increasing defense budget in most of the major economies coupled with the increasing usage of UAVs for cargo delivery in military operations is expected to provide potential opportunities throughout the forecast period. Additionally, growing technological advancements in the field of drone payloads are further anticipated to create positive opportunities over the estimated period from 2019 to 2026.

On the other hand, the strict airspace regulations worldwide particularly in the United States where Federal Aviation Administration (FAA) is setting regional regulations for the commercial use of a drone, which is likely to hinder market growth throughout the forecast period.

Application demonstration Outlook

Unmanned aerial vehicle has application across various sectors including, military & defense for intelligence, surveillance and reconnaissance (ISR), combat operations and battle damage management. Additionally, have usage in retail for product delivery, media & entertainment for photography & film production, precision agriculture, scientific research, remote sensing, and inspection & monitoring. Sequentially, the increasing demand for UAVs in aforementioned sectors is accelerating the market growth. In 2018, the military and defense segment dominated the global Unmanned Aerial Vehicle (UAV) market. Furthermore, the increasing defense budget of various major economies particularly for performing ISR missions, target recognition, and electronic warfare is accelerating the market growth.

The market research study on “Unmanned Aerial Vehicle (UAV) Market– Global Industry Analysis, Market Size, Opportunities and Forecast, 2019 – 2026”, offers a detailed insight into the global Unmanned Aerial Vehicle (UAV) market entailing insights on its different market segments. Market dynamics with drivers, restraints and opportunities with their impact are provided in the report. The report provides insights into the global Unmanned Aerial Vehicle (UAV) market, its product type, application, and major geographic regions. The report covers basic development policies and layouts of technology development processes. Secondly, the report covers global Unmanned Aerial Vehicle (UAV) market size and volume, and segment markets by product type, application, and geography along with the information on companies operating in the market. The Unmanned Aerial Vehicle (UAV) market analysis is provided for major regional markets including North America, Europe, Asia Pacific, Latin America and Middle East and Africa. For each region, the market size and volume for different segments have been covered under the scope of the report.

North America dominated the Unmanned Aerial Vehicle (UAV) market in 2018

North America dominated the regional market with major share in 2018 and the region is also expected to maintain its dominance throughout the forecast period. North America market is gaining pace owing to the increasing budget for UAV by the military & defense sector. The increasing maritime surveillance activities in major countries of the region including US and Canada are supporting the regional market growth.

The players profiled in the report include DJI, Parrot SA, 3D Robotics, Inc., Yuneec International Co. Ltd., Airware, AeroVironment, Inc., DroneDeploy, Northrop Grumman Corporation, PrecisionHawk Inc., senseFly SA, and The Boeing Company. The companies were involved in different strategic development for the expansion of market share.

Market Segmentation

Market By Type

• Fixed Wing
• Multi Rotor
• Single Rotor
• Hybrid

Market By Component

• Hardware (Camera, Sensors, Others)
• Software

Market By UAV Size

• Small UAV
• Medium UAV
• Large UAV

Market By Application

• Military & Defense
• Retail
• Media & Entertainment
• Personal
• Agriculture
• Industrial
• Law Enforcement
• Construction

Market By Geography

North America

• U.S.
• Canada

Europe

• U.K.
• Germany
• France
• Spain
• Rest of Europe

Asia-Pacific

• China
• Japan
• India
• Australia
• South Korea
• Rest of Asia-Pacific

Latin America

• Brazil
• Mexico
• Rest of Latin America

Middle East & Africa

• GCC
• South Africa
• Rest of Middle East & Africa

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