UAV Drones Market Forecasts to 2028 – Global Analysis By Product Fixed-Wing, Rotary Blade), Component (Sensor, Propulsion System), Range (Short (<25 Kilometers), Long (>25 Kilometers)) and By Geography

UAV Drones Market Forecasts to 2028 – Global Analysis By Product Fixed-Wing, Rotary Blade), Component (Sensor, Propulsion System), Range (Short (<25 Kilometers), Long (>25 Kilometers)) and By Geography

According to Stratistics MRC, the Global UAV Drones Market is accounted for $27.03 billion in 2022 and is expected to reach $77.54 billion by 2028 growing at a CAGR of 19.2% during the forecast period. An unmanned aerial vehicle (UAV), commonly known as a drone is an aircraft without any human pilot, crew, or passengers on board. UAVs are a component of an unmanned aircraft system (UAS), which includes adding a ground-based controller and a system of communications with the UAV. The flight of UAVs may operate under remote control by a human operator, as remotely-piloted aircraft (RPA), or with various degrees of autonomy, such as autopilot assistance, up to fully autonomous aircraft that have no provision for human intervention.

US unmanned aerial vehicle developers Area-I and Anduril announced that they have introduced the newest and largest-yet member of the ALTIUS family of air launched UAVs with the launch of ALTIUS 700. According to the companies, the ALTIUS-700 carries 300% more payloads compared to the ALTIUS 600 and has a flight of up to five hours, depending on payloads, which are customizable and include ISR, cUAS, electronic warfare, munitions and signals intelligence. The Indian Armed Forces announced its plan to procure 30 armed versions of the Sea Guardian UAVs worth USD 3 billion from the US DoD. As per the proposed terms of the deal, India will be acquiring 10 units of MQ-9 Reaper UAV each for the three services of the Indian Armed Forces: the Army, Navy, and Air Force. China’s indigenous high-altitude, long-endurance, and high-speed armed reconnaissance UAV (WJ-700) underwent test flights and successfully created a new pattern for drone combat. The WJ-700 is the only high-altitude, high-speed, and long-endurance drone capable of executing attack and reconnaissance missions in China.

Market Dynamics:

Driver:

Elasticity for fast examinations

As this kind of drone can be present in a range of configurations, some can perform high or low-altitude inspections. These qualities’ adaptability allows clients to easily modify the tools for their tasks. The unmanned aerial vehicle (UAV) drones are appropriate for both routine and emergencies, and the construction industry, particularly building developers, recognizes these benefits. The unmanned aerial vehicle (UAV) drones can do a variety of tasks, including taking high-quality films and photos. As a result, the flexibility of quick inspections is propelling the growth of the market.

Restraint:

Lack of data privacy

The fault of drone technology is a significant drawback to its development. The hackers can swiftly get access to a drone’s central control system and assume control of the drone. Hackers can get access to personal information, corrupt or damaged files, and expose data to untrusted third parties. Thus, the lack of data privacy is hampering the growth of the market.

Opportunity:

Increase in the use of drones in military and defense sector

The military and defense sectors use a drone for numerous operations such as target acquisition, surveillance, intelligence, reconnaissance, and carrying aircraft ordnance such as missiles, ATGMs, and/or bombs in targeted points for drone strikes. The major benefit of using drones in the military and defense sector is that the drones are remotely controlled and the chances of getting caught by enemies or being harmed during the mission are close to zero. Moreover, the growing demand for the UAV drones in multiple end-use industries such as the event industry creates ample opportunity for the market.

Threat:

Rules and Regulations related to air traffic management

There are certain rules and regulations for flying any object as per the air traffic management. Remote ground control systems (GSC) also recognized as ground cockpits are used to control drones. No one can fly a drone without following the laws laid out by the specific country where the drone is being used. The rules and regulations related to the drone are very strict in many countries which are anticipated to threaten the market growth.

Covid-19 Impact

The usage of drones is rapidly expanding, and drones are getting sold at an accelerating pace each year. COVID-19 reshaped the ways markets function, the consequences and the fallout of the pandemic has brought the global economy to a standstill. Since drone procurement is a direct proponent of the demand from end-user industries, COVID-19 impacted some of the application segments of the market in focus in 2020. However, as the lockdown measures were lifted and the commercial activity resumed, the demand for drones started recovering in 2021.

The precision agriculture segment is expected to be the largest during the forecast period

The precision agriculture segment is anticipated to register the largest during the forecast period, as drones have become one of the serious aspects of managing vital operations of farms. Farmers across the globe are trying to lessen agriculture costs and expand yields. With the help of drones, farmers and agriculture workers can gather farm data, automate redundant processes, and thus maximize efficiency. Additionally, drones assist farmers in numerous tasks, including field monitoring and analysis, and planning of crop plantations to identify the growth and health of crops.

The rotary blade segment is expected to have the highest CAGR during the forecast period

The rotary blade segment is expected to have the highest CAGR during the forecast period owing to their ability to maintain a visual on a single target for a long time and to hover and perform agile maneuvering. These drones are usually considered a viable option for several commercial applications, such as filming and photography, surveillance, and monitoring. Besides, they are easier to control as compared to their fixed-wing and hybrid counterpart. The rotatory blade rotates around a central mass, forcing air downward and creating a vertical lift. These drones are mostly designed according to a helicopter and adorn rotary blades similar to it. Additionally, the use of rotary blade drones is significantly rising in various industries. Therefore, the increasing use of rotary blade drones is projected to drive the market.

Region with highest share:

North America is projected to hold the largest market share during the forecast period. The increasing usage of drones in the commercial sector for several operational uses such as delivering products to consumers in their respective countries is expected to propel the growth of the market in North America province. Moreover, favorable government initiatives, advancements in drone technology, and the growing demand from businesses across several industries.

Region with highest CAGR:

Asia Pacific is projected to have the highest CAGR over the forecast period, the increase in the use of drones in agriculture to monitor the cultivation process and produce better outcomes is expected to enhance the market in the Asia-Pacific area. The market growth is anticipated to be driven by a favorable regulatory landscape, especially among the developed nations. Several governments are constantly working on formulating new regulations for the commercial applications of drones. Additionally, numerous start-up companies are testing new applications of drones for commercial purposes and working on enhancing the safety of drones. All these factors motivating the market growth in the Asia Pacific regions.

Key players in the market

Some of the key players profiled in the UAV Drones Market include 3D Robotics, Inc., Aeroscout Gmbh, AeroVironment, Inc., AiDrones Gmbh, Delta Drone Group, Elbit Systems Ltd., General Atomics Aeronautical Systems, Inc., ING Robotic Aviation Inc., Israel Aerospace Industries Ltd., Lockheed Martin Corporation, Northrop Grumman, Parrot Drone SAS, PrecisionHawk, Inc., SZ DJI Technology Co., Ltd., Teledyne FLIR LLC, Textron Inc., Thales Group, The Boeing Company, Xiaomi, Sagetech Avionics, Inc.

Key Developments:

In April 2022: Wing Aviation LLC launched commercial drone delivery service in Dallas-Fort worth Metroplex, Texas, US. The drones are staged at local Walgreens store to deliver health and wellness products directly to customers’ homes.In addition to this, they planned to deliver from Blue Bell Creameries, easyvet and Texas Health.

In April 2020: Sagetech Avionics announced that MXS transponder was integrated into High Eye Unmanned Aviation’s Airboxer UAS, providing the UAVs with fully functional Mode S and ADS-B in/out capabilities that will aid the system’s integration in controlled airspace.

Products Covered:
• Fixed-Wing
• Rotary Blade
• Hybrid

Components Covered:
• Sensor
• Propulsion System
• Controller
• Camera
• Battery

Ranges Covered:
• Short (<25 Kilometres)
• Long (>25 Kilometres)

Payloads Covered:
• Up to 150 kg
• Up to 600 kg

Durations Covered:
• <30 Minutes
• >30 Minutes

Offerings Covered:
• Hardware
• Software
• Services

Applications Covered:
• Precision Agriculture
• Emergency and Disaster Management
• Inspection & Monitoring
• Remote Sensing & Mapping
• Wildlife Research & Preservation
• Search and Rescue Operation
• Spying

End Users Covered
• Military
• Consumer
• Civil/Commercial

Regions Covered:
• North America
US
Canada
Mexico
• Europe
Germany
UK
Italy
France
Spain
Rest of Europe
• Asia Pacific
Japan
China
India
Australia
New Zealand
South Korea
Rest of Asia Pacific
• South America
Argentina
Brazil
Chile
Rest of South America
• Middle East & Africa
Saudi Arabia
UAE
Qatar
South Africa
Rest of Middle East & Africa

What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2020, 2021, 2022, 2025 and 2028
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements