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Unmanned Aerial Vehicle (UAV) Market Outlook - 2027: The global unmanned aerial vehicle (UAV) market is experiencing a significant growth due to commercial applications of UAVs. UAV is an aircraft without a pilot on-board. UAVs can be either remotely controlled by an operator or it can fly autonomously. UAVs are used in various industries for applications such as surveying & mapping, film-making, law-enforcement, product delivery, and agriculture, among others. Military applications of UAVs involve attack, reconnaissance, counter enemy drones, and training & target practice. In addition, smaller handheld UAVs are used to extend vision of ground units in the battlefield form the front line. Moreover, UAV systems offer substantial range & efficiency compared to manned aircraft.Download Report (236 Pages PDF with Insights, Charts, Tables, Figures) at https://www.alliedmarketresearch.com/request-sample/9424
COVID-19 scenario analysis:
UAV manufacturing companies are forced to stop production operations due to government-imposed lockdown to slow the spread of COVID-19.
UAV delivery services are witnessing a surge in demand amid the COVID-19 crisis due to availability of option to avail human contact-free services.
UAV manufacturers are facing operational issues due to supply chain disruption caused by the government initiatives to control the COVID-19 outbreak.
Military agencies are forced to delay the procurement of new UAVs, since nations are diverting financial resources to combat COVID-19 pandemic.
Research & development of autonomous UAV systems is adversely affected due to lack of workforce owing to the travel restrictions imposed by government to control the COVID-19 outbreak.
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Top impacting factors: Market Scenario Analysis, Trends, Drivers and Impact Analysis
Surge in usage of military UAVs, increase in demand for autonomous aircrafts, and rise in adoption of UAVs in non-military applications are some of the factors that drive the global unmanned aerial vehicle market. However, susceptibility of UAVs to cyber-attacks hinders the market growth. On the contrary, advancement in drone technology, fast encrypted communication system, and artificial intelligence present new pathways in the industry.
The global unmanned aerial vehicle market trends are as follows:
Surge in usage of military UAVs
UAVs are being deployed rapidly by nations for border patrolling & defense. For instance, in 2020, Israeli Defense Ministry signed an agreement with Hellenic Ministry of National Defense (Greece), stating to lease the latter, Heron UAV system (manufactured by Israel Aerospace Industry) for a period of three years to defend its border. Heron is a medium-altitude long endurance UAV, used by Israel’s military for day-night & maritime border patrolling as well as satellite communications. Such initiatives to deploy UAVs into military applications will drive the global unmanned aerial vehicle market.
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Rise in adoption of UAVs in non-military applications
The demand for small UAVs (drones) for commercial & business applications is increasing, since UAVs can be deployed in emergency healthcare services, urban mobility, and package delivery among others. Recently, Skydio Inc. (an American drone manufacturing company) has deployed drones in pandemic relief efforts with the aid of public safety agencies in US, as part of the company’s emergency response programs. Also, in 2019, Google’s subsidiary company X, partnered with FedEx (a delivery service company headquartered in Tennessee, US) to offer autonomous drone deliveries under project named Wing. Such extensive use of UAVs in commercial applications is expected to boost the global unmanned aerial vehicle market.
Key benefits of the report:
• This study presents the analytical depiction of the global UAV industry along with the current trends and future estimations to determine the imminent investment pockets.
• The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the global unmanned aerial vehicle market share.
• The current market is quantitatively analyzed from 2020 to 2027 to highlight the global unmanned aerial vehicle market growth scenario.
• Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
• The report provides a detailed global unmanned aerial vehicle market analysis based on competitive intensity and how the competition will take shape in coming years.
Questions answered in the Unmanned Aerial Vehicle market research report:
• Which are the leading market players active in the unmanned aerial vehicle market?
• What are the current trends that will influence the market in the next few years?
• What are the driving factors, restraints, and opportunities in the market?
• What are the projections for the future that would help in taking further strategic steps?
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