Global Unmanned Aerial Vehicle Market

Global Unmanned Aerial Vehicle Market Size, Share, Growth Analysis, By End-Use(Military, Public Safety & Security), By Type(Fixed Wing, Rotary Wing), By Application(Military, Commercial) - Industry Forecast 2024-2031


Report ID: SQSG25C2013 | Region: Global | Published Date: April, 2024
Pages: 165 | Tables: 98 | Figures: 76

Global Unmanned Aerial Vehicle Market Dynamics

Unmanned Aerial Vehicle Market Driver

  • For more than ten years, military forces from several nations have used drones. The most well-known one is the Predator UAV. At the moment, ground forces frequently employ small drones. It is projected that military spending on UAV technology would increase as a proportion of overall military budgets, providing growth prospects for specialised drone manufacturers and software developers. The MQ-4 Reaper, MQ-1B Predator, QF-4 Aerial Target, RQ-4 Global Hawk, AeroVironment Wasp AE, RQ-1 Predator, BQM-155 Hunter, CL-289 Piver, etc. are a few typical examples of military drones or UAVs.
  • Modern access control and video surveillance technologies have significantly improved the security of important organisations. Unmanned aircraft are utilised in large cities for tactical planning and observation of significant events or gatherings. During the forecast period, these factors are anticipated to propel the worldwide unmanned aerial vehicle (UAV) market's expansion.

Unmanned Aerial Vehicle Market Restraint 

  • Even while UAV is a fantastic technology, it can be dangerous if extremists get their hands on it. They can be used by terrorists to execute several assaults at once, amplifying their impact. They are a go-to weapon for terrorist organisations because they are inexpensive aircraft with straightforward operations that can quickly access challenging terrain.
  • Unmanned aerial vehicles (UAVs) are extremely useful for defence forces since they may be used for a range of tasks, including situational awareness, bomb defusing, aiding soldiers in combat, and search and rescue missions. UAVs are currently used for transportation, surveillance, search and rescue, and other tasks throughout the world. But they come at a high cost to the military.
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Global Unmanned Aerial Vehicle Market size was valued at USD 23.45 billion in 2019 and is poised to grow from USD 26.19 billion in 2023 to USD 70.91 billion by 2031, growing at a CAGR of 11.7% in the forecast period (2024-2031).

Unmanned Aerial Vehicle Market Top Players Company Profiles  'DJI (Da-Jiang Innovations Science and Technology Co.)', 'General Atomics Aeronautical Systems, Inc. (GA-ASI)', 'Northrop Grumman Corporation', 'Boeing', 'Lockheed Martin Corporation', 'Textron Inc.', 'AeroVironment, Inc.', 'Parrot SA', 'Israel Aerospace Industries (IAI)', 'SZ DJI Technology Co., Ltd.', 'Thales Group', 'Aerodyne Group', 'Yuneec International Co. Ltd.', 'Autel Robotics', 'FLIR Systems, Inc.', 'GoPro, Inc.', 'PrecisionHawk Inc.', 'Intel Corporation', 'Microdrones GmbH', 'senseFly SA'

For more than ten years, military forces from several nations have used drones. The most well-known one is the Predator UAV. At the moment, ground forces frequently employ small drones. It is projected that military spending on UAV technology would increase as a proportion of overall military budgets, providing growth prospects for specialised drone manufacturers and software developers. The MQ-4 Reaper, MQ-1B Predator, QF-4 Aerial Target, RQ-4 Global Hawk, AeroVironment Wasp AE, RQ-1 Predator, BQM-155 Hunter, CL-289 Piver, etc. are a few typical examples of military drones or UAVs.

Raw The growing need for UAVs in military applications is anticipated to drive the market's expansion. Drones have been employed by armed forces from several nations for more than ten years. The most popular UAV is the Predator. Small drones are presently used often by ground forces. Small- and large-scale drone technology is now being developed by hundreds of firms, and both state- and non-state actors are attempting to integrate drones into their military plans.

Due to the rising territorial disputes, insurrections, and subsequent demand for unmanned systems to operate ISR missions, objective acceptance, damage assessment, and associated operations, North America dominates the unmanned aerial vehicle industry in 2021. The use of UAVs for warfare purposes in unstable areas is expanding profitably. Additionally, the region's unmanned aerial vehicle industry is expanding due to the growing acceptance of UAVs for commercial uses.

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Global Unmanned Aerial Vehicle Market

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