Unmanned Aerial Vehicle (UAV) Market Size, Share, Growth and Global Industry Analysis By Type & Application, Regional Insights and Forecast to 2024-2032
Growth Factors of Unmanned Aerial Vehicle Market
The unmanned aerial vehicle market size was valued at USD 27.43 billion in 2022, and the market is now projected to grow from USD 31.70 billion in 2023 to USD 91.23 billion by 2030, exhibiting a CAGR of 16.3% during the forecast period of 2023-2030.
The utilization of drones for shipping medical supplies has impelled the market expansion. The pandemic has moderately affected due to the lockdown measures and supply chain disruption. The domestic business was highly using these tools which have impelled the market growth. Hence, the COVID-19 pandemic has enhanced the unmanned aerial vehicle market growth.
Since, armed forces are shifting from the conventional concept to a better firepower. The unmanned aerial vehicle market share has increased because of the raise in procurement of drones in the military sector. This phase of electronic warfare has amplified demand for vehicles. It is controlled remotely by the workforce from a safe distance.
The trend of rising development of DiaB is impelling the market growth. The DiaB technology includes a drone capable of flying and returning from a point and starting self-charging upon return from the mission. This development is deployed in several industries, because it minimizes the need for human intervention. This device offers a faster and more efficient communication network.
Comprehensive Analysis of Unmanned Aerial Vehicle Market
The unmanned aerial vehicle market and aerospace & defence industry is increasing at an exponential rate due to its market segmentation. This market expansion effectively provides a thorough regional assessment considering the dominant supply and demand forces that impact the aerospace & defence industry. These segmentations are methodically segregated by types of UAV class, operational mode, fully autonomous, solution, application, and end-user. The operational mode is fully & semi-autonomous and remotely-operated. The UAV classes are micro, mini, small, & tactical UAVs. Fully autonomous includes an individual autonomous system and drone-in-a-box. The solutions are aerostructures & mechanism, securing system, operating software. The applications involve perimeter security & border management, combat support missions, disaster management & first responders. The end-user involves government and defense oil & gas.
The North American region is conducive to the global unmanned aerial vehicle market leading to a recall of USD 9.57 billion because rising air force defense investment has increased the demand for fixed-wing UAVs.
The top players in the market play a vital role in the aerospace & defence industry assuring industrial prospectus growth and setting market standards. These players include AeroVironment, Inc. (U.S.), Autel Robotics (U.S.), Parrot Drone S.A,.S. (Switzerland), Yuneec (China), BAE Systems PLC (U.K.), Boeing (U.S.), Elbit Systems Ltd. (Israel), Hexagon AB (Sweden), Israel Aerospace Industries (Israel), General Atomics Aeronautical Systems (U.S.), Lockheed Martin Corporation (U.S.), Northrop Grumman Corporation (U.S.), SZ DJI Technology Co. Ltd. (China), Teledyne Technologies Inc. (U.S.), and Textron Systems Corporation (U.S.), these market players provide a level-playing competitive landscape.
In July 2023, Zerify Inc, IoTechWorld Avigation Pvt. Ltd. won a large contract from IFFCO, to supply 500 drones for spraying nano liquid urea and DAP.
Segmentation Table
Global Unmanned Aerial Vehicle Market Scope
ATTRIBUTE DETAILS
Study Period 2019-2030
Base Year 2022
Forecast Period 2023-2030
Historical Period 2019-2021
Growth Rate CAGR of 16.3% from 2023-2030
Unit Value (USD billion)
Segmentation
By UAV Class
Micro UAVs (Below 2 Kg)
Mini UAVs (2-20 Kg)
Small UAVs (20-50 Kg)
Tactical UAVs (MALE & HALE)
By Operational Mode
Fully Autonomous
Semi-Autonomous
Remotely-Operated
By Fully Autonomous
Individual Autonomous System
Drone-in-a-Box (DiaB)
By Solutions
Aerostructures & Mechanisms
Securing System
Operating Software
Tethering Cord
Power Sources & Management System
Payload
Propulsion System
Others
By Application
Perimeter Security & Border Management
Combat and Combat Support Missions
Situational Awareness, Disaster Management & First Responders
Surveying, Mapping, & Monitoring
Precision Agricultural Management
Power Station Management
Asset & Operations Management
Emergency Medical Logistics
Others
By End-User
Government & Defense
Energy, Power, Oil & Gas
Construction & Mining
Agriculture, Forestry & Wild Life Conservation
Public Infrastructure & Homeland Security
Hospitals & Emergency Medical Services
Transportation & Logistics
Event Management
Others
By Region
North America (By UAV Class, Operational Mode, Fully Autonomous, Solutions, Application, and End-User)
U.S. (By UAV Class)
Canada (By UAV Class)
Europe (By UAV Class, Operational Mode, Fully Autonomous, Solutions, Application, and End-User)
U.K. (By UAV Class)
Germany (By UAV Class)
France (By UAV Class)
Russia (By UAV Class)
Italy (By UAV Class)
Spain (By UAV Class)
Rest of Europe (By UAV Class)
Asia Pacific (By UAV Class, Operational Mode, Fully Autonomous, Solutions, Application, and End-User)
China (By UAV Class)
Japan (By UAV Class)
India (By UAV Class)
Australia (By UAV Class)
South Korea (By UAV Class)
Southeast Asia (By UAV Class)
Rest of Asia Pacific (By UAV Class)
Middle East (By UAV Class, Operational Mode, Fully Autonomous, Solutions, Application, and End-User)
Saudi Arabia (By UAV Class)
U.A.E. (By UAV Class)
Turkey (By UAV Class)
Israel (By UAV Class)
Rest of Middle East (By UAV Class)
Africa (By UAV Class, Operational Mode, Fully Autonomous, Solutions, Application, and End-User)
South Africa (By UAV Class)
Egypt (By UAV Class)
Nigeria (By UAV Class)
Ghana (By UAV Class)
Rest of Africa (By UAV Class)
Latin America (By UAV Class, Operational Mode, Fully Autonomous, Solutions, Application, and End-User)
Brazil (By UAV Class)
Mexico (By UAV Class)
Argentina (By UAV Class)
Rest of Latin America (By UAV Class)
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