Global UAV Market (2020-2026) | Size, Forecast, Value, Revenue, Trend, Growth, Analysis, Outlook & COVID-19 IMPACT

Global UAV Market report comprehensively covers the market by types, range, product types, applications, and regions. The report provides an unbiased and detailed analysis of the ongoing market trends, opportunities/high growth areas, and market drivers which would help the stakeholders to devise and align their market strategies according to the current and future market dynamics.

Global UAV Market Synopsis

Global UAV Market growth is sustained by security concerns, predominantly by surveillance and combat operations and the outbreak of COVID-19 has highlighted the importance of UAVs in the world and would act in favour of the UAV industry in the coming year as the usage of UAVs has increased globally. However, sales figure has witnessed a decline due to a halt in construction projects, suspension of economic activities, and lockdown across the nations. Further, government initiatives and the regulatory changes by countries that promote the usage and manufacturing of UAVs would give a jump to the growth of the UAV market globally during the forecast period. However, the ongoing global pandemic COVID-19 hampered the overall economic growth of Saudi Arabia, thus, restraining the growth of the Global UAV market as well.

According to 6Wresearch, Global UAV Market size is projected to grow at a CAGR of 10.6% during 2020-2026. Rapid industrialization has led to increasing demand for a continuous and reliable source of electricity, which is expected to drive the UAV market in the coming years. Also, an increasing number of power outages and power failures, majorly in developing countries create a huge demand for power backup devices, leading to a surge in demand for the UAV market. However, the outburst of coronavirus is expected to adversely impact the global UAV market in 2020 as the governments of various countries have imposed a nationwide lockdown resulting in the closure of all construction operations which would impact the demand and supply of UAV systems. However, post COVID-19 the UAV market is expected to recover as the economies would resume normalcy after a protracted period of nationwide lockdown. Increasing adoption of smart technology for surveillance is adding to the development of the industry. Surging spending on the military coupled with increasing spending on defense modernization is proliferating the demand for the Unmanned aerial vehicle market. Increasing threat from terrorism and rising awareness regarding security is developing the growth of the market.

Some of the key players in the Global UAV Market are AeroVironment, Inc., Airbus S.A.S., BAE Systems plc, DJI, Elbit Systems Ltd., FLIR Systems, Inc., Lockheed Martin Corporation, Northrop Grumman Corporation, Textron Inc., and The Boeing Company.  

Market Analysis by Range

By range, beyond visual line of sight (BVLOS) segment is dominating the market revenues in 2019 and is expected to dominate the market in the forecast period on account of increased usage in military operations due to larger coverage of the area.

Market Analysis by Product Range

Based on product types, in the commercial segment rotary blade acquired the highest share for the year 2019 owing to its special advantage of vertical landing and take-off. Also, they could hover at one specific point and are best suited for short-range applications. However, military revenues are dominated by fixed-wing UAVs in terms of revenues on account of their simple structure and longer duration at high speed.

Market Analysis by Geography

At present, the American region accounts for the highest revenue and volume share in the overall market revenues in 2019. Countries such as the United States and Canada are the major contributors in the region, owing to the rapid military development, urbanization, and infrastructural development across several verticals in these countries. Moreover, the Asia Pacific region is expected to emerge as a potentially remunerative market for UAVs during the forecast period, primarily due to the rapidly growing military modernization and product adoption for several activities such as filming & photography, surveying & mapping, agriculture, monitoring & inspection, etc. for commercial purpose in the region.

Key Attractiveness of the Report

• COVID-19 Impact on the Market.
• 10 Years Market Numbers.
• Historical Data Starting from 2016 to 2019.
• Base Year: 2019
• Forecast Data until 2026.
• Key Performance Indicators Impacting the Market.
• Major Upcoming Developments and Projects

Key Highlights of the Report

• Global UAV market Overview
• Global UAV market Outlook
• Global UAV market Forecast
• Historical Data and Forecast of Global UAV Market Revenues & Volume, By Range, Types, Product Types, Commercial and Military Applications for the Period 2017-2026F
• Market Drivers and Restraints
• Global UAV Market Trends and Industry Life Cycle
• Porter’s Five Force Analysis
• Market Opportunity Assessment
• Market Player’s Revenue Shares
• Market Competitive Benchmarking
• Global UAV Market Share, By Company
• Company Profiles
• Key Strategic Recommendations

Market Scope and Segmentation

The report provides a detailed analysis of the following market segments:

By Range

• Visual Line of Sight (0-500 m)
• Extended Visual Line of Sight (501 m-2 km)
• Beyond Line of Sight (Beyond 2 km)

By Types

• • Commercial UAV

• Fixed Wing UAV
• Hybrid UAV
• Rotary Blade UAV
• Others (Balloon, Single Rotor, etc)

• Military UAV

• Fixed Wing UAV
• Multi-Rotor UAV
• Others (Balloon, Single Rotor, etc)

By Applications

• Commercial UAV

• Filming & Photography
• Inspection & Maintenance
• Mapping & Surveying
• Agriculture
• Surveillance & Monitoring
• Others (Environmental Conservation, Search & Rescue, etc.)

• Military UA

• Surveillance
• Emergency Communications
• Combat and Rescue Operations
• Others (Reconnaissance, Battle Assessment Damage, Weapon Delivery, etc.)

By Regions

• Asia Pacific
• Europe
• America
• Middle East & Africa