Global UAV Market Anticipated to Reach $21.47 Billion by 2021
NEW YORK, Jan. 23, 2018 /PRNewswire/ --
Global UAV Market Anticipated to Reach $21.47 Billion by 2021
The Unmanned Aerial Vehicles (UAV) market has observed a high growth rate in the recent past. Their declining prices, compact size and ease of operability have led to their widespread adoption across commercial and non-commercial end-users.
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Furthermore, customer focused innovation in UAV technology and rise in the demand of UAVs for photography, hobbyist, agriculture and surveillance applications are driving the growth in the UAV market. The demand of UAVs has increased significantly in the recent years and the trend is anticipated to continue in the next few years, owing to their cost saving advantage across commercial applications. The rise in their demand across the developing nations and new emerging applications are expected to open several new opportunities for the UAV market in the years to come.
The major class of UAV include small UAVs and large UAVs. Small UAVs include, rotary and fixed wing class UAVs, while large UAVs include strategic, tactical and special purpose UAVs. The major components used in UAV are camera, sensors, high speed data communication system, inertial navigation system and Micro-Electro Mechanical System Attitude and Heading Reference System (MEMS AHRS), autopilots, electronic warfare system, and sense and avoid system among others.
Some of the sensors used in UAVs are (Electro-Optical/Infrared) EO/IR sensor, LiDAR, laser spectroscopy, Geo Positioning System (GPS), Meteorological sensors, and (Chemical, Biological, Radiological and Nuclear) CBRN. These UAVs are used across commercial and non-commercial end-users. Commercial end-users include agriculture, hobbyist, transport, infrastructure, media & entertainment, oil & gas, insurance, telecommunication, and mining.
Non-commercial end users include military and homeland security.
The following points provide a concrete description of the report content and the topics covered in the report:
-- This report identifies the global UAV market in different segments such as class, component, end-user, and geography
-- The study includes the market analysis and forecast of the global UAV market from 2016 to 2021 in terms of value and volume. The report also highlights the year-on-year growth of the market
-- The study talks about the prime supply side factors affecting the growth of the market along with the current and future trends in the UAV market
-- The study also presents a detailed examination of the UAV market along the lines of market drivers, restraints, growth opportunities, and challenges
-- The study provides detailed analysis of industry attractiveness through Porter's Five Forces analysis
-- The report also highlights the value chain of the overall Unmanned Aerial Vehicle (UAV) industry
-- A detailed competitive analysis has been included in this report which focuses on the key market developments & strategies followed by the key players in the market. Additionally, market share of the players providing different class of UAVs has been included which analyzes their position in the market.
-- The UAV market analysis and forecast with respect to its various class such as small UAVs and large UAVs. Small UAVs have been classified into fixed wing and rotary.
The large UAVs have been classified into strategic, tactical and special purpose UAVs
-- The report also provides a detailed study of the components used in UAVs. Major components analyzed in the study include camera, sensors, high speed data communication system, inertial navigation system and Micro-Electro Mechanical System Attitude and Heading Reference System (MEMS AHRS), autopilots, electronic warfare system, and sense and avoid system among others
-- In this report, various end-users for the uses of UAV have also been studied. The end-users include commercial and non-commercial.
-- The commercial sector is further classified into agriculture, hobbyist, transport, infrastructure, media & entertainment, oil & gas, insurance, telecommunication, and mining
-- The non-commercial sector is further sub-segmented into military and homeland security
-- The report also highlights different applications of UAVs under military and homeland security end-user. Military end-user have been classified into ISR and combat targeting. Further, homeland security end-user has been classified into border security & surveillance, police investigation, traffic monitoring, search & rescue, and disaster management, among others
-- The UAV market has been analyzed for all the geographies including North America, Europe, Asia-Pacific, and Rest of the World with further analysis with respect to several major countries
-- The key market players are analyzed and profiled in detail in the Company Profiles section of the report. This section covers the business financials, company snapshots, key products & services, major developments, and finally, the individual SWOT analysis.
Executive Summary
The first working Unmanned Aerial Vehicle (UAV) was developed in the 20th century and ever since there have been several significant technological developments such as reduction in weight, improved battery life and increased degree of autonomy in its operation. With the improving technical capabilities, UAVs have witnessed wider adoption for diverse range of applications across commercial and non-commercial end-users.
An Unmanned Aerial Vehicle (UAV) can be defined as an aircraft system that can be controlled using a remote or an on-board computer system. UAVs are a part of Unmanned Aerial System (UAS) that consists of UAV, a controller on ground and a communication system between UAV and controller. UAVs are extensively used across commercial and non-commercial end-users.
Some of the prime factors behind the rise in the demand of UAVs for commercial and hobbyist applications are their declining price, compact size and improved performance. UAVs are increasingly being adopted across commercial end-users such as agriculture, oil & gas, mining, media and entertainment, among others.
The demand for UAVs is swiftly increasing among different end-users across the globe. The market is driven by number of factors such as rise in their demand across commercial and non-commercial end-users, various consumer-centric technological developments and declining prices, among others.
The UAV market accounted for a market value of $8.02 billion in 2016 with small UAVs holding the highest share.
Small UAVs hold a large share of revenue in the UAV market. The high share of small UAVs is mainly attributed to their wide range of applications across commercial and non-commercial end-users, low cost and rise in their demand across different geographies.
The large UAVs are only used across non-commercial end-users.
North America is expected to dominate the market during the forecast period which is followed by Asia Pacific, Europe, and Rest of the world. The U.S. is the leading country in the UAVs market and it is one of the prominent exporters of UAVs after Israel.
The country is home to several UAV manufacturers for both commercial as well as non-commercial end-users. Asia Pacific is expected to grow at the highest CAGR with China dominating the market in this region.
Some of the key players in the UAV market include: Aerovironment, Inc., Airbus Group, BAE Systems, CybAero AB, DJI Innovations, Elbit Systems Ltd., General Atomics, Israel Aerospace Industries Limited, Lockheed Martin Corporation, Northrop Grumman, Parrot SA, SAAB Group, 3D Robotics, Thales Group, and The Boeing Company.
Countries Covered
-- North America
-- Europe
-- Asia Pacific
-- Rest of the World
Read the full report: https://www.reportlinker.com/p05292523
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