Global Unmanned Aerial Vehicle (UAV) Market Report 2021-2026: Improvement in Regulatory Framework to Drive Market Growth - Increased Adoption of UAV in Civil and Commercial Applications

DUBLIN, June 25, 2021 /PRNewswire/ -- The "Unmanned Aerial Vehicle (UAV) Market by Point of Sale, Systems, Platform (Civil & Commercial, and Defense & Governement), Function, End Use, Application, Type, Mode of Operation, MTOW, Range, and Region - Global Forecast to 2026" report has been added to ResearchAndMarkets.com's offering.

The global UAV market is estimated to be USD 27.4 billion in 2021 and is projected to reach USD 58.4 billion by 2026, at a CAGR of 16.4% from 2021 to 2026.

North America is projected to account for the largest size of the UAV market from 2021 to 2026. The incorporation of artificial intelligence in UAV has not only enhanced their capabilities but has also enabled them to carry out several activities such as takeoff, navigation, data capture, data transmission, and data analysis without human intervention.

As well as rising demand for contactless deliveries of medical supplies and other essentials using drones owing to COVID-19 are some of the factors driving the growth of the UAV market. The strict imposition of lockdowns and travel restrictions in countries has disturbed the normal flow of essential commodities in the healthcare, food, and logistics sectors.

However, during the pandemic, various pilot projects and test flights related to drones were carried out in various countries to speed up the testing of COVID-19 samples and prevent the spread of the virus. Additionally, drones were widely used for surveillance and mapping of the COVID-19 hotspots, crowd management and control, and aerial decontamination of outdoor public places by several governments to fulfill the purpose of social distancing norms.

Based on application, the UAV market has been classified into the military, commercial, government & law enforcement, and consumer. For this segment of the UAV market, the military segment of the UAV market is projected to grow from USD 12,760 million in 2021 to USD 19,641 million by 2026, at a CAGR of 9.0% from 2021 to 2026. The commercial segment of the market is projected to grow at the highest CAGR of 28.0% during the forecast period; the growth of this segment can be attributed to the developments and advancements in drone technology.

Based on function, the UAV market has been segmented into special purpose drones, passenger drones, inspection & monitoring drones, surveying & mapping drones, spraying & seeding drones, air cargo vehicles, and others. Special purpose drones mainly include decoy drones, swarm drones, combat UAV, etc., that are used in military applications.

The special purpose drones segment of the UAV market is projected to grow from USD 9,332 million in 2021 to USD 20,548 million in 2026, at a CAGR of 17.1% from 2021 to 2026 and have the largest market share during the forecast period. It is due to the rising usage of Special Purpose Drones in military and Combat Operations.

Based on point of sale, the UAV market has been segmented into original equipment manufacturers (OEM) and aftermarket. The aftermarket segment of the market has been classified into maintenance, repair, and overhaul (MRO), replacement, and simulation & training. The OEM segment of the UAV market is projected to have a higher CAGR as compared to the Aftermarket segment.

The OEM segment of the UAV market is projected to grow from USD 22.7 billion in 2021 to USD 49.0 billion by 2026, at a CAGR of 16.7% from 2021 to 2026. This is due to the fact that most of the assembly and modifications required in UAV are carried out at the OEM level. The aftermarket segment of the market is projected to grow from USD 4.7 billion in 2021 to USD 9.2 billion by 2026, at a CAGR of 14.5% during the forecast period.

Major players operating in the UAV market include General Atomics (US), Northrop Grumman Corporation (US), EHang (China), Parrot (France), PrecisionHawk (US), Israel Aerospace Industries Ltd. (Israel), DJI Technology Co., Ltd. (China), Parrot SA (France), AeroVironment, Inc. (US), Lockheed Martin Corporation (US).

Key Topics Covered:

1 Introduction

2 Research Methodology

3 Executive Summary

• OEM Segment to Account for Large Share of UAV Market in 2021
• Defense & Government Segment to Account for Large Share of UAV Market in 2021
• Optionally Piloted Segment to Account for Largest Share of UAV Market in 2021
• UAV Market in Asia-Pacific to Grow at Highest CAGR from 2021 to 2026

4 Premium Insights
4.1 Attractive Growth Opportunities in UAV Market: Improvement in Regulatory Framework to Drive Market Growth from 2021 to 2026
4.2 UAV Market, by Point of Sale
4.3 UAV Market Share, by Application: Military Segment to Account for Largest Share of UAV Market in 2021
4.4 UAV Market, by Function: Special Purpose Drones Segment Held Largest Share of UAV Market in 2021
4.5 UAV Market, by Region: North America to Account for Largest Share of UAV Market in 2021
4.6 UAV Market in North America, by Country: US to Account for Large Size of UAV Market in North America from 2021 to 2026

5 Market Overview
5.1 Introduction
5.2 Market Dynamics
5.2.1 Drivers
5.2.1.1 Increased Adoption of UAV in Civil and Commercial Applications
5.2.1.2 Risen Demand for UAV in Military Applications
5.2.1.3 Surged Use of UAV in Disaster Relief Operations
5.2.1.4 Improvements in Regulatory Frameworks Related to Drone Operations
5.2.2 Restraints
5.2.2.1 High Infrastructure Costs and Lack of Skilled Personnel for Operating Drones
5.2.2.2 Issues Related to Drone Safety and Security
5.2.3 Opportunities
5.2.3.1 Rising Demand for Contactless Deliveries of Medical Supplies and Other Essentials Using Drones Owing to COVID-19
5.2.3.2 Increasing Deployment of UAV to Carry Out Aerial Remote Sensing
5.2.3.3 Ongoing Technological Advancements in UAV
5.2.4 Challenges
5.2.4.1 Instances of Use of Drones in Terror Attacks and Drug Trafficking
5.2.4.2 Consumer Acceptance and Health Issues Caused by Noise from UAV
5.3 Impact of COVID-19 on UAV Market
5.4 Ranges and Scenarios
5.5 UAV Market Ecosystem
5.6 Value Chain Analysis
5.7 Pricing Analysis and Average Selling Prices of UAV
5.8 Trends/Disruptions Impacting Business of Customers
5.8.1 Revenue Shift and New Revenue Pockets for UAV Manufacturers
5.9 Porter's Five Forces Analysis
5.10 Trade Analysis
5.11 Operational Data
5.12 Tariff and Regulatory Landscape

6 Industry Trends
6.1 Introduction
6.2 Technology Trends Related to UAV
6.2.1 UAV with AI
6.2.2 3D Printed UAV
6.2.3 Advanced Material-Based UAV
6.2.4 Multisensory UAV Payload Systems
6.2.5 Wirelessly Charged Commercial Drones
6.2.6 UAV for Cloud Infrastructure
6.2.7 Endurance in UAV
6.2.8 Machine Learning-Based Analytics for UAV-Based Communication
6.2.9 Swarm UAV
6.3 Technological Analysis of UAV
6.3.1 Challenges for Developing Fully Autonomous Drones
6.3.2 Artificial Intelligence (AI) in UAV
6.3.3 List for UAV Innovations
6.4 Use Case Analysis: UAV
6.4.1 UAV for Delivery Services During Pandemic
6.4.2 Drones for Aerial Photography
6.4.3 Drones for Videography
6.4.4 UAV for Surveying
6.4.5 UAV for Agricultural Applications
6.4.6 Drones for Aerial Construction
6.4.7 UAV for Industrial Inspection
6.4.8 Drones for Wildlife Conservation
6.4.9 UAV for Warehouse Inventory Services
6.4.10 UAV for Border Security
6.4.11 UAV Deployed by Various Companies for Delivery Services
6.4.12 Drone Technology for Radiological Monitoring
6.5 Impact of Megatrends
6.6 UAV Product Ecosystem
6.6.1 Brief Description of Key UAV Products
6.7 Innovations and Patent Registrations
6.8 UAV Specifications
6.9 Software Used by UAV
6.10 UAV Services
6.11 Urban Air Mobility (UAM)

Companies Mentioned

• 3D Robotics
• Aerialtronics
• Aerovironment
• AirbUS
• Autel Robotics
• Bae Systems
• Boeing
• Challis Heliplane
• Delair
• Denel Dynamics
• DJI
• Draganfly Innovations
• Eca Group
• Ehang
• Elbit Systems
• Flir Systems Inc.
• General Atomics
• Ideaforge
• Insitu Inc.
• Intel Corporation
• Israel Aerospace Industries
• Kespry
• Lockheed Martin
• Microdrones
• Northrop Grumman Corporation
• Parrot
• PrecisionHawk
• Products/Services Offered
• Raytheon
• Saab
• Sensefly
• Skydio
• Textron
• Thales
• Yunnec

For more information about this report visit https://www.researchandmarkets.com/r/do47nk

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