Unmanned Aerial Vehicle Industry is Booming Due to Increasing Adoption of UAV

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The global report shows details related to the most dominant players in the global Unmanned Aerial Vehicle market, along with contact details, sales, and accurate figures of the worldwide market. Various data and detailed analyses collected from various trusted institutions of the global Unmanned Aerial Vehicle Market are presented in the Global Unmanned Aerial Vehicle Market Research Report.

The globalĀ unmanned aerial vehicle marketĀ is expected to gain momentum from the increasing advancements in the field of drones. They are capable of analyzing millions of images for enhancing the decision-making skills of the management in a wide range of industries.Ā Fortune Business Insightsā„¢Ā presented this information in a new report, titled, ā€œUnmanned Aerial Vehicle Market Size, Share & COVID-19 Impact Analysis, By Class (Small UAVs, Tactical UAVs, and Strategic UAVs), By Technology (Remotely Operated, Semi-autonomous, and Fully-autonomous), By System (UAV Airframe, UAV Payloads, UAV Avionics, UAV Propulsion, and UAV Software), By Application (Military, Commercial and Recreational), and Regional Forecast, 2020-2027.ā€ The report further states that the unmanned aerial vehicle (UAV) market size wasĀ USD 10.72 billionĀ in 2019 and is projected to reachĀ USD 25.13 billionĀ by 2027, exhibiting a CAGR of 12.23% during the forecast period.

List of all the UAV manufacturers operating in the global market. They are as follows:

  • DJI (China)
  • Parrot (France)
  • Yuneec (China)
  • 3D Robotics (U.S.)
  • Go Pro (U.S.)
  • Holy Stone (Taiwan)
  • Autel Robotics (U.S.)
  • Sense Fly (Switzerland)
  • Kesper Drone (U.S.)
  • Hexagon (Sweden)
  • Delair (France)
  • AeroVironment Inc., (U.S.)
  • Other Players

Competitive Landscape-

Key Players Focus on Delivering Essentials via UAVs to Prevent Coronavirus Infection

The market is highly fragmented with the presence of a wide range of manufacturing companies all over the world. Some of them are presently focusing on delivering essentials through drones owing to the COVID-19 pandemic. The others are focusing on mergers and acquisitions with other local enterprises to strengthen their positions. Below are a couple of the latest industry developments:

  • June 2020: After Wing, a firm owned by Google parent Alphabet launched its new drone delivery service in Virginia, Kelly Passek became the first customer. She is a middle-school librarian who petitioned the company to deliver library books to help kids in reading and learning amidst the COVID-19 pandemic.
  • September 2019: Rafael Advanced Defense Systems, a defense company based in Israel, successfully acquired Aeronautics Limited worth USD 240 million. This would help the latter to combine its expertise in intelligence, surveillance and reconnaissance with Rafaelā€™s large network in the U.S. market.

The outbreak of the COVID-19 pandemic has halted the operations of several companies. But, some of them have resumed their production processes by stringently following social distancing and low workforce measures. We will soon be able to overcome this situation with the discovery of a vaccine. Our report would provide detailed information about the effects of this pandemic on every market. You can gain business confidence by selecting the right strategy.

Drivers & Restraints-

Need to Avoid Physical Contact amidst COVID-19 to Skyrocket Demand

The effect of COVID-19 pandemic on the market is likely to remain moderate backed by the increasing usage of drones by the regulatory bodies worldwide to monitor public gatherings, thereby limiting direct physical contact. Antwork Inc., a China-based drone delivery company, for instance, provided medical supplies and reduced the involvement of humans by using drones. Also, in countries, such as the Netherlands, Belgium, Spain, India, China, Russia, and France, UAVs are extensively being used to spray disinfectants on government buildings, emergency hospitals, and public healthcare infrastructure. However, the strict government norms and laws regarding the usage of airspace to eliminate accidental damages may hamper the unmanned aerial vehicle market growth in the coming years.

Segment-

Commercial Segment to Grow Rapidly Backed by Investment by Companies to Develop Air Taxi

In terms of application, the market is fragmented into commercial, residential, and military. Out of these, the commercial segment generated 4.6% in terms of unmanned aerial vehicle market share in 2019. This growth is attributable to the increasing usage of UAVs in logistics, forest monitoring, crop monitoring, aerial mapping, and surveying. Besides, industry giants, such as Uber and DHL Logistics are investing hefty amounts of money to develop Air Taxi and innovating air transportation, respectively. These factors would also contribute to the growth of this segment.

This comprehensive Report of Unmanned Aerial Vehicle Market provides real information about the statistics and state of the global and regional market. Its scope study extends from the market situation to comparative pricing between the main players, spending in specific market areas, and profits. It represents a comprehensive and succinct analysis report of the main competitor and price statistics with a view to helping beginners establish their place and survive in the market. In addition, it also focuses on the market overview for the coming period from 2021 to 2027. This proved to be a great help for entrepreneurs. This detailed market research is heavily based on information received during interviews with key leaders, research, and innovative resources.

Market Dynamics

The global report shows details related to the most dominant players in the global Unmanned Aerial Vehicle market, along with contact details, sales, and accurate figures of the worldwide market. Various data and detailed analyses collected from various trusted institutions of the global Unmanned Aerial Vehicle Market are presented in the Global Unmanned Aerial Vehicle Market Research Report.

Increasing Usage of Drones in Military Applications to Spur Growth in North America

Geographically, in 2019, North America held USD 3.88 billion in terms of revenue. The region is anticipated to dominate during the forthcoming years owing to the rising usage of UAVs in several military applications. The U.S. houses a large number of renowned military UAVs manufacturers who are gaining a competitive edge by exporting their products to numerous countries worldwide.

Europe, on the other hand, is expected to grow moderately stoked by the high demand for navigation systems, avionics, software solutions, and cameras in the region. In Asia Pacific, the high demand for advanced warfare UAVs for tactical and strategic applications would affect the market growth positively in the near future. The major importers in this region are China, Pakistan, and India.

This Report Answers the Following Questions:

  • What are the market dynamics, drivers, and obstacles?
  • Which company will generate the largest revenue in the near future?
  • How will COVID-19 impact the sales of UAVs?
  • Which strategies are being adopted by companies to intensify competition?

 

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