Market
Introduction
Market Research
Future (MRFR) reveals in its extensive report that the global unmanned aerial vehicle (UAV) drone market is presumed to grow at a CAGR of more than
10% during the forecast period (2017-2023). Unmanned aerial vehicles (UAV) are
also referred to as drones, are used as aircraft systems without a human pilot
aboard. They are mostly employed in missions which are dangerous for manned
aircraft. They are used for applications like mapping, security, surveillance,
etc. Moreover, it is used to collect data about certain terrain and battlefield
area for military purposes.
Drivers and
Restraints
The market growth
is positively influenced by increasing adoption of unmanned aerial vehicle in
military and commercial sector. Few devices have the ability to carry missiles
and hit the target with high accuracy. These are used in aircraft with smaller
dimensions to gather information about hostile places before a mission.
Their use in
providing extensive information for disaster relief is bound to fuel the
overall market growth. Commercial purpose usage is another key factor that is
contributing to the overall industry demand. Apart from this, implementation of
modern agriculture methods gives major push to the market growth, as they are
used for crop spraying, monitoring livestock, crops and water levels.
Sophisticated UAV provide a 3D field image which aids in planning for future
expansion.
There is a flip
side to the driving factors as well, namely government regulations that
prohibit the use of UAV, acting as a barrier to the market growth. However,
despite the challenges, its application in multiple industries such as oil and
gas sector is increasing, which results in a considerable development of the
market. increasing usage of UAV across various industries is envisaged to
augment the market growth in the foreseeable future as well.
Market
Segmentation
The global UAV
market is segmented on the basis of type, application and platform.
By type, the market is segmented into combat,
small, strategic, tactical and others. Combat UAV finds applications for
surveillance, artillery fire direction, lasing targets for fighter planes, and
post-strike damage assessment. Moreover, the changing nature of advanced
warfare is predicted to fuel the growth prospects for the combat aerial vehicle
(UCAV) market.
By application, the market is segmented into military,
commercial, agriculture and others. Military expenditure coupled with benefits
offered by UAVs in military sector such as reducing collateral damage, while
hovering, searching, identifying, and striking targets, have turned them into
an asset in military operations.
By platform, the market is segmented into fixed-wing,
rotary-wing and others. Fixed-wing UAVs possess the capabilities of taking off
and landing vertically and then transiting into a horizontal flight which
eliminates the need for long runway infrastructure without compromising the
speed and endurance. These benefits offered by fixed-wing UAVs fuel the demand
for them in commercial, military, and law enforcement applications.
Regional
Segmentation
The regional
segmentation of the global UAV market is done on the basis of the Americas,
Europe, Asia Pacific (APAC) and the Middle-East.
From the Americas,
the United States (U.S) is the global market leader in terms of UAV demand and
as a manufacturer. It is globally the largest operator of UAVs. Majority of
this demand is augmented by military and defense applications, and the U.S.
army is the single largest buyer of UAVs worldwide. Other than large tactical
UAVs, many small electric-powered UAVs are now prevalent at war front. UAVs
have now become an integral part of the U.S. military and defense used for a
number of tactical missions and surveillance purposes. Hence, the market is
expected to maintain a consistent growth rate in coming years on account of
technological advancements and availability of new cost-effective solutions.
The growth of the
market in the APAC region comes close to that of the Americas due to rising
commercial applications such as aerial photography, express shipping and
delivery, gathering information or supplying essentials for disaster
management, geographical mapping of inaccessible terrain and locations, building
safety inspections, precision crop monitoring.
Europe has observed
a surge in crime and terrorist-related activities past couple of years, with
significant danger to the lives of law enforcement personnel. In order to make
law enforcement more efficient, nations in the region are taking various steps
to augment their forces. British law enforcement agencies are actively planning
to put UAVs to regular use, particularly for police work. With United Kingdom
being one of the biggest markets for UAVs in Europe, this development will be
responsible for the positive growth of the market in the foreseeable future.
The Middle East and
Africa region is a lucrative market for UAVs, sustained by its strong demand
and major spending on UAV development projects. The region notes extreme
weather conditions; therefore, the use of UAVs is quite natural as they can be
used in diverse weather conditions without the risks of operational capability
and pilot life safety.
Key Players
Lockheed Martin
(U.S.), Northrop Grumman Corporation (U.S.), Airbus (France), AeroVironment,
Inc. (U.S.), Boeing (U.S.), Elbit Systems Ltd. (Israel), Israel Aerospace
Industries Ltd. (Israel), Textron Systems (U.S.), Thales Group (France), and
BAE Systems (U.K.) are few of the major companies in the global UAV market.
August 2018 – The United Kingdom has ordered six
counter-unmanned aerial vehicle (UAV) systems from Rafael Advanced Defense
Systems. These systems will be used to protect sensitive facilities and the
contract is worth $20 million. The system makes it possible to detect threats
using radar and a signal intelligence component that monitors the signal
broadcast by a UAV in flight.
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