The global unmanned aerial vehicle market is expected to reach US$ 76,083.5 million in 2033. The rapid technological improvement of defence technologies, growing need for military applications, demand for improved surveillance solutions, and rise in commercial applications are the primary driving factors in the Unmanned Aerial Vehicles market.
According to a recent survey published by FMI, the global Unmanned Aerial Vehicle market is expected to grow at a healthy CAGR during the forecast period between 2023 and 2033. The objective of the report is to uncover micro and macro-economic factors accelerating the sales of Unmanned Aerial Vehicle over the coming decade.
Advent of Industry 4.0 Technology to Create New Growth Avenues for the Unmanned Aerial Vehicle Market
Industrial sector is witnessing revolution as manufacturers across the world are extensively emphasizing towards adopting incorporating advanced automation, This is commonly being referred to as Industry 4.0.
With the advent of Industry 4.0, manufacturing facilities are prioritising the use of novel technologies such as artificial intelligence, smart manufacturing, the internet of things (IoT), and machine learning, among others. In the Unmanned Aerial Vehicle market, this is anticipated to open up significant potential opportunities.
Furthermore, rising government attention on improving the manufacturing sector and integrating augmented and virtual reality using smart equipment to boost output is expected to drive market demand in the future years.
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Key Unmanned Aerial Vehicle Market Takeaways and Projections
- The U.S. is estimated dominate the Unmanned Aerial Vehicle market in North America, accounting for the largest share in the region through 2022.
- Germany is projected to account for a significant share in the Europe market over the assessment period.
- China is forecast to hold the lion’s share the East Asia market, projecting the fastest growth in the region between 2023 and 2033
- India is anticipated to emerge as a highly remunerative market in South Asia, accounting for the largest sales during the forecast period.
Report Benefits & Key Questions Answered
- Unmanned Aerial Vehicle Historical Market Outlook: Future Market Insight’s analysis examines vital dynamics, such as drivers, opportunities and challenges. It studies their impact on the market over the previous assessment period 2016-2020. The report provides crucial insights to market players to capitalize on opportunities and counter challenges.
- Unmanned Aerial Vehicle Demand-Supply Assessment: A latest study published by FMI offers in-depth insights into governing factors facilitating the demand outlook of the Unmanned Aerial Vehicle market. As per the survey, Unmanned Aerial Vehicle sales will project steady growth over the forecast period.
- Unmanned Aerial Vehicle Consumption by Demographics: The report published by FMI provides consumption by demographics analysis to assist the market players in formulating their marketing strategies on the basis of purchasing power of the customers. It examines changes in consumer behavior and also studies its effect on the demand for Unmanned Aerial Vehicle.
- Unmanned Aerial Vehicle Market Trend Analysis: FMI’s market trend analysis provide detailed insights into current and upcoming trends in the industrial automation industries. It also assist the industry players to identify potentials trends to capitalize on them.
Market Competition:
Key players operating in the Global Unmanned Aerial Vehicles Market include UAV Solutions, Inc., Lockheed Martin Corporation, Martin UAV, Israel Aerospace Industries Ltd., EMT Ingenieurgesellschaft Dipl.-Ing. Hartmut Euer mbH, Selex ES Inc., BlueBird Aero Systems, Northrop Grumman Corporation, Dassault Aviation SA, General Atomics, Boeing, AeroVironment, Inc., BAE Systems, Airbus DS GmbH, etc.
The market for unmanned aircraft is extremely consolidated, with a few major vendors holding a prominent market share. The leading manufacturers of unmanned aerial vehicles make significant financial investments in thorough research and development, mostly to produce new and improved products with the latest technological advancement.
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Key Segments Profiled in the Global Unmanned Aerial Vehicles Market Report
By Class, the Unmanned Aerial Vehicles Market is segmented as:
- Small
- Tactical
- strategic
By Energy Source:
- Hydrogen
- Solar
- Battery operated
- Hybrid
By Endurance:
- Short (less than 5 hrs)
- Medium (5 hrs – 24 hrs)
- High (more than 24 hrs)
By Payload:
- Synthetic aperture radars (SARs)
- EW Systems
- Electro-optic infrared sensors (EO/IR)
- C4I systems
By Wing type:
- Fixed wing
- Tilt wing
- Unmanned helicopter
- Multicopter
By Applications:
- Military
- Commercial
- Homeland security
By Region:
- North America
- Latin America
- Europe
- South Asia & Pacific
- East Asia
- Middle East & Africa
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