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Global Unmanned Aerial Vehicles Market OverviewThe unmanned aerial vehicles (UAV) market is anticipated to register a CAGR of more than 10%, during the forecast period (2019-2024).
Growing applications of UAVs for various commercial purposes, like remote sensing, photo and videography, oil, gas, and mineral exploration, disaster relief, recreational uses, and other purposes, are driving the growth of the Unmanned Aerial Vehicles market.
UAVs are now being largely used in performing ISR missions, target recognition, and electronic warfare. Defense ministries around the world are investing in this capability, to reduce troop casualties, and as they are a less costly alternative to manned aircraft.
However, the strict airspace regulations across major countries of the world, especially the United States, where FAA pioneered in setting regulations for commercial use of drones in the region, may hamper the growth of the Unmanned Aerial Vehicles market.
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Military Segment to Dominate the Unmanned Aerial Vehicles Market during the Forecast Period
Military was the leading segment in terms of revenue, as of 2018. However, the commercial segment is expected to register the fastest CAGR. The increase in defense budgets and growing tensions among countries in Asia-Pacific and Middle East have driven the market for UAVs in the military segment, as the use of UAVs reduces the risk of losing human lives. The main reason behind the growth of the commercial UAV market, during the forecast period, is the increase in demand from various applications in the civil and commercial segments.
Competitive Landscape of Unmanned Aerial Vehicles Market
Boeing, BAE Systems PLC, General Atomics, Israel Aerospace Industries Ltd, and Elbit Systems Ltd are some of the prominent players in the military segment of the market, while the commercial UAV segment is dominated by companies, such as DJI and Parrot Drones SaA, which have a large share in the small UAV market. Growing military procurements of HALE, MALE, and tactical UAVs may help the military drone manufacturers to further increase their market share to a huge extent, as compared to small commercial UAV manufactures.
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Scope of the Global Unmanned Aerial Vehicles Market Report 2019-2024
UAVs are pilotless aircraft, either controlled by remote control by a human operator, or autonomously by onboard computers, and uses aerodynamic forces to navigate and perform desired functions. Medium-altitude long endurance (MALE); High-altitude long endurance (HALE), tactical unmanned aerial vehicles (TUAV), and vertical takeoff and landing (VTOL) UAV are included in the study. Others segment includes unmanned combat aerial vehicles (UCAVs) and small UAVs. UCAVs are UAVs that usually carry aircraft ordnance, like missiles, and are used for drone strikes.
Asia-Pacific May Experience the Fastest Growth in the UAV Market
Currently, North America holds the major share in the UAV market, globally. This is primarily due to the growing use of unmanned aerial vehicles, both for commercial and military applications. However, Asia-Pacific is expected to register the highest CAGR, during the forecast period, due to growing popularity and changes in regulations in the region. The procurement of UAVs in the region is steadily growing, thereby driving the growth of the Asia-Pacific UAV market.
Some Major Points of Table of Contents:
1 INTRODUCTION
1.1 Study Deliverables
1.2 Study Assumptions
1.3 Scope of the Study
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
4.1 Market Overview
4.2 Market Drivers
4.3 Market Restraints
4.4 Porter's Five Forces Analysis
4.4.1 Threat of New Entrants
4.4.2 Bargaining Power of Buyers/Consumers
4.4.3 Bargaining Power of Suppliers
4.4.4 Threat of Substitute Products
4.4.5 Intensity of Competitive Rivalry
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5 MARKET SEGMENTATION
5.1 UAV Type
5.1.1 TUAV
5.1.2 VTOL
5.1.3 MALE
5.1.4 HALE
5.1.5 Other UAV Types
5.2 Application
5.2.1 Military
5.2.2 Civil and Commercial
5.3 Geography
5.3.1 North America
5.3.1.1 United States
5.3.1.2 Canada
5.3.1.3 Mexico
5.3.1.4 Rest of North America
5.3.2 Europe
5.3.2.1 Spain
5.3.2.2 Germany
5.3.2.3 France
5.3.2.4 Russia
5.3.2.5 United Kingdom
5.3.2.6 Rest of Europe
5.3.3 Asia-Pacific
5.3.3.1 China
5.3.3.2 India
5.3.3.3 Japan
5.3.3.4 Rest of Asia-Pacific
5.3.4 South America
5.3.4.1 Brazil
5.3.4.2 Argentina
5.3.4.3 Rest of South America
5.3.5 Middle East & Africa
5.3.5.1 Saudi Arabia
5.3.5.2 United Arab Emirates
5.3.5.3 South Africa
5.3.5.4 Rest of Middle East & Africa
6 COMPETITIVE LANDSCAPE
6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements
6.2 Vendor Market Share
6.3 Strategies Adopted by Leading Players
6.4 Company Profiles
6.4.1 DJI
6.4.2 Aerovironment Inc.
6.4.3 BAE Systems PLC
6.4.4 Cybaero AB
6.4.5 Elbit Systems Ltd
6.4.6 General Atomics
6.4.7 Parrot Drones SAS
6.4.8 Israel Aerospace Industries Ltd
6.4.9 Thales SA
6.4.10 Airbus SA
6.4.11 Microdrones GmbH
6.4.12 The Boeing Company*
7 MARKET OPPORTUNITIES AND FUTURE TRENDS
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