Small UAV Market Size is Projected to reach USD 11.31 Billion by 2027

Spread the love

Precedence Research’s latest report on the global small UAV market provides an analysis for the period of 2016 to 2027, wherein, 2020 is the base year, 2016 and before is historical data, and 2020 to 2027 is the forecast period. The global small UAV market size was valued at US$ 2.84 Billion in 2019 and is projected to reach US$ 11.31 Billion by 2027, rising at a market growth (CAGR) of 18.9% during the forecast period.

Precedence Research provides an in-depth analysis of market size, share analysis, Industry growth, market valuation, market dynamics which includes drivers, restraints, opportunities, trends, challenges, market segmentation, competitive landscape, regional and country breakdowns, and strategies for small UAV market. The study reviews the global industry by-products or services offered, downstream fields, end using customers, historic data figures regarding revenue and sales, market context, and more.

The report comprises a detailed value chain analysis, which provides a comprehensive view of this market. The Porter’s Five Forces model for the global market has also been included to help understand the competitive landscape. The study covers market attractiveness analysis, wherein resin types are benchmarked based on their market value, growth rate, and general attractiveness.

Download FREE SAMPLE PAGES before Purchase https://www.precedenceresearch.com/sample/1177

Unmanned aerial vehicle (UAV), widely known as Drone, is an aircraft or airborne system functioned remotely by operator or autonomously by means of onboard computer. Unmanned aircraft systems comprise of the sensor payloads, aircraft component and ground control station. They can be operated by onboard electronic equipment or with the help of control equipment from the ground. Small unmanned aerial vehicles (SUAVs) have been given numerous characterizations amongst national regulation authorities, frequently without including size accuracies and differing regarding weight measurement stipulations. The extensive variety of applications in which small unmanned aerial vehicles can be installed is budding every day, with the growth-platform explores novel uses, the need for small UAVs will be noteworthy, with a widespread and wide-ranging geographical spread.

Growth Factors

Upsurge in the procurement of small military drones by defense forces worldwide is one of the most significant factors projected to drive the growth of the small UAV market. Augmenting use of small drones in commercial applications including surveying, aerial remote sensing, monitoring, mapping, precision agriculture, and product distribution is also crediting to the growth of the market.

Application of UAV is growing quickly for surveillance and public service responses by both local and national police forces. Furthermore, the novel governing changes and rollout of remote ID and 5G will permit massive up scaling of drone procedures, from solitary remotely functioned aircraft to semi-autonomous fleets which would be capable to function outside visual line of sight courtesy of imminent unmanned traffic management infrastructure. This will deliver the base from which corporations like Amazon can unveil drone delivery services.

COVID-19 can be a catalyst for the extensive implementation of small UAVs in commercial spaces. The most substantial rise in UAV application can be in areas including agriculture, city planning and administration, health, emergency response and rescue, village mapping, damage assessment, inventory management, flood monitoring, retail, and delivery of food and goods services. However, high prices of advanced UAVs can act as a deterrent factor in the growth of the small UAVs market. The UAV consists of numerous components including motors, sensors, camera, GPS, and batteries. The components are utilized in the small drone dependent on the application. The cost of these components relies on the quality. Usage of superior components upsurges the cost of the UAV suggestively.

Regional Snapshots

Though the military UAV sector is anticipated to become gradually international the U.S. will endure to lead the global marketplace. In terms of revenue, North America gathered around 43% of the market share in 2019. Increasing number of developing economies are showing curiosity in implementation of UAVs for surveillance and border security and procedures. Middle East is one of the developing markets with Israel being a crucial exporter and manufacturer of UAVs. Asia Pacific is expected to exhibit speedy growth conquered by the enormous demand from China. With the expansion of its military competences, China has given more standing to the utilization of UAVs for crucial military operations. The government of China also strategies to widely use UAVs for coastal observation and patrol. China has also reinforced its surveillance network using birdlike small drones.

The government of China is building small drones that look like birds under program named “Dove”. Furthermore, in the University of Tokyo, the Jouhou System Kougaku Laboratory revealed the DRAGON drone. This drone consists of up numeral of small drones and is capable of varying its form in midair. Furthermore, it can decide what shape to take depending on the space in which it is navigating. Such technological innovations are driving the implementation of small UAVs across defense sector across the globe.

Report Highlights

  • The introduction of 5G technology is projected to open up totally new paths for the small drone sector
  • Among different types of small UAV, rotary blade type UAV gathered the largest share around 70% of global small UAV Market in 2019
  • Asia-Pacific is expected to observe the speedy growth due to rapid expansion of defense capabilities in vital economies like India, Japan, China and South Korea

Key Players of the global small UAV market are:

  • DJI
  • Parrot
  • AeroVironment
  • Elbit Systems
  • Textron
  • Lockheed Martin
  • Applied Aeronautics
  • IAI
  • FLIR Systems

Segments Covered in the Report:

Market Segment

By Type

  • Fixed Wing
  • Helicopter
  • Rotary Blade

By Application

  • Defense
  • Commercial and Civil

Regional Segment

  • North America (United States, Canada)
  • Europe (Germany, France, UK,  Italy, Russia, and Rest of Europe)
  • Asia-Pacific (China, Japan, India, Southeast Asia, Korea, and Rest of Asia Pacific)
  • Latin America (Brazil and the Rest of Latin America)
  • The Middle East and Africa (GCC, North Africa, South Africa, and Rest of the Middle East & Africa)

Purchase this Market Research Report @ https://www.precedenceresearch.com/checkout/1177

About Us:

Precedence Research is a worldwide market research and consulting organization. We give unmatched nature of offering to our customers present all around the globe across industry verticals. Precedence Research has expertise in giving deep-dive market insight along with market intelligence to our customers spread crosswise over various undertakings. We are obliged to serve our different client base present over the enterprises of medicinal services, healthcare, innovation, next-gen technologies, semiconductors, chemicals, automotive, and among different ventures present globally.

Contact Us:

Mr. Alex

Sales Manager

Call: +1 9197 992 333

Email: sales@precedenceresearch.com

Admin

Carolina is an author who specializes in covering healthcare, chemical, and the automotive industry. Before joining Market Stats News, Carolina covered some of the biggest companies in Silicon Valley for the San Jose Mercury News. She loves all things French and the written word. Articles by Carolina

Mail: carolina@marketstatsnews.com

View all posts by Admin →

Leave a Reply

Your email address will not be published. Required fields are marked *