About UAV
An unmanned aerial vehicle (UAV) is an aircraft that requires minimal and zero assistance from a human pilot. It is also known as a drone and they do not have space for any humans including passengers, crew, or pilots. UAVs have showcased greater application in recent times. They were earlier developed for military-based operations but steadily, they have become a part of other non-military applications such as agriculture and environment monitoring industries. The main definition of unmanned aerial vehicles covers several crucial aspects such as no room for human occupancy, use of aerodynamic forces for lifting, remote piloting, and the ability to carry nonlethal or lethal payload for military operations. They are a result of the constant innovation witnessed in the global aviation industry. As years have progressed, UAVs have undergone multiple changes and they continue to evolve with time becoming more efficient and showcasing better applications. Drones are classified based on different features and aspects of the tool. The four most common classifications are single-rotor drones, multi-rotor drones, fixed-wing hybrid Vertical Takeoff and Landing (VTOL), and fixed-wing drones.
Attributes | Details |
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Study Period | 2020-2032 |
Base Year | 2024 |
Unit | Value (USD Million) |
The companies are exploring the market by adopting mergers & acquisitions, expansions, investments, new service launches and collaborations as their preferred strategies. The players are exploring new geographies through expansions and acquisitions to avail a competitive advantage through combined synergies. Analyst at AMA Research estimates that Global Manufacturers will contribute the maximum growth to Global UAV market throughout the forecasted period. Established and emerging Manufacturers should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
AeroVironment Inc. (United States), DJI (Dà-Jiang Innovations) (China), General Atomics Aeronautical Systems Inc. (United States), Parrot SA (France), Yuneec International (China), Northrop Grumman Corporation (United States), SZ DJI Technology Co. Ltd. (China), Ehang (China), Lockheed Martin Corporation (United States) and Israel Aerospace Industries (IAI) (Israel) are some of the key players that are part of study coverage. Additionally, the Manufacturers which are also part of the research coverage are Textron Inc. (Includes AAI Corporation and others) (United States), Kratos Defense & Security Solutions Inc. (United States), Microdrones GmbH (Germany), SenseFly (A Parrot Company) (Switzerland) and Boeing (Insitu) (United States).
Segmentation Overview
AMA Research has segmented the market of Global UAV market by and Region.
On the basis of geography, the market of UAV has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). If we see Market by Platform, the sub-segment i.e. Defense & Government will boost the UAV market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Systems, the sub-segment i.e. Ground Control Station will boost the UAV market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by End User, the sub-segment i.e. Public Safety & Security will boost the UAV market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Increasingly utilized for intelligence, surveillance, reconnaissance, and combat operations.
Market Growth Drivers:
Growing military applications of UAVs and increasing political alliances and Increased usage of drones
Challenges:
Risk of Intellectual Property (IP) theft
Restraints:
High cost of production and maintenance
Opportunities:
Growing commercial applications of UAVs and Advanced technologies such as cloud computing & computer vision
Market Leaders and their expansionary development strategies
In January 2024, a French UAV manufacturer, Parrot, introduced a new industrial-class drone that was specifically designed for use in the inspection and surveying of Infrastructures. The Anafi USA by Parrot comes with advanced features of a high-definition camera and a thermal sensor so as to be able to carry out inspection on high bridges, power networks and big constructions. With this, the release points towards the rising need for the use of UAVs across industries and in commercial use.
In February 2024, Boeing’s subsidiary, Insitu, revealed the new UAV system Integrator ER, targeting specifically military usage. This long-endurance surgeon is purposed for counter-surveillance, reconnaissance and intelligence gathering in hard-to-reach areas providing more opportunity to be deployed. The system is expected to augment the defense offering of the company as the demand for complex military UAVs is on the rise.
Key Target Audience
Manufacturers Suppliers and Distributors, Venture Capitalists and Private Equity Firms, New Entrants/Investors, Strategic Business Planners, Government Regulatory, Research Organizations, End-Use Industries and Others
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.