The global unmanned aerial vehicle (UAV) market revenue is expected to expand at a significant CAGR over the forecast period. Unmanned aerial vehicle (UAV) are types of aircrafts that can be operated remotely with no onboard pilot. They are used for applications such as mapping, security, surveillance, etc. In addition, it is also used to collect data about certain terrain and battlefield area for military purposes. Increasing adoption of unmanned aerial vehicle in military and commercial sector is a major factor driving growth of the global unmanned aerial vehicle (UAV) market. However, government regulations on usage of UAV may hamper growth of the target market.
The global unmanned aerial vehicle (UAV) market report has been segmented on the basis of UAV type, operation, application, and region. On the basis of UAV type, the market is segmented into multi rotor, single rotor, fixed wing, and fixed wing hybrid VTOL. On the basis of operation, the market is segmented into fully-autonomous, remotely operated, and semi-autonomous. On the basis of application, the market is segmented into military, homeland security, commercial, and civil. Civil segment is expected to register fastest growth rate in the near future, owing increasing adoption of UAV in civil sector for mapping, surveillance, disaster management, etc.
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Based on the region the global unmanned aerial vehicle (UAV) market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America holds major share in terms of revenue, due to increasing investments in arial sector and rising military spending. In addition, availability of various types of UAVs for different functions, owing to presence of key manufacturers in the region are other factors boosting growth of the global market. The market in Asia Pacific is expected to witness lucrative growth in terms of revenue over the forecast period, owing to increasing adoption of latest technology in India, China, and Japan.
Key players operating in the global unmanned aerial vehicle (UAV) market include General Atomics Corp., Northrop Grumman Corporation, The Boeing Company, Dà-Jiāng Innovations, Parrot S.A., Lockheed Martin Corporation, Textron Inc., 3D Robotics, Inc., Israel Aerospace Industries Ltd., and BAE Systems plc.