Global Unmanned Aerial Vehicle Market 2024–2033

Reports Description

As per the current market research conducted by CMI Team, the Global Unmanned Aerial Vehicle Market is expected to record a CAGR of 8.2% from 2023 to 2032. In 2022, the market size is projected to reach a valuation of USD 26.8 Billion. By 2032, the valuation is anticipated to reach USD 50.4 billion.

Unmanned Aerial Vehicle Market: Overview

Unmanned aerial vehicles (UAVs), which can be remotely piloted, optionally piloted, or entirely autonomous, are important in both the defense and commercial sectors. They are called as drones and are most famous for being widely used in a variety of military duties including surveillance and reconnaissance.

These vehicles are also employed for surveying, mapping, and assessing the local weather. The next-generation aircraft technology known as UAV is used for a variety of purposes, including photography, logistics, surveillance, and evaluation. The introduction of UAV usage laws and regulations by different nations has a direct impact on the market for unmanned aerial vehicles.

Unmanned aerial vehicle (UAV) growth is anticipated to be boosted by the increasing use of smart technology in a variety of fields, including military & defense, agricultural, civil & commercial, logistics & transportation, healthcare, construction & mining, and others. It finds use in these and other fields.

Unmanned Aerial Vehicle Market: COVID–19 Impact Analysis

The COVID-19 pandemic has had a tremendous influence on world economics. COVID-19 has caused a number of challenges for a variety of businesses. Global pandemic COVID-19 has been identified, causing lockdowns in every country and a slowdown in the economies.

This circumstance has an impact on many parts of life, from consumer goods to industrial activity. UAV have become a significant utility product under these conditions, as human operations have been constrained and restricted as a result of the pandemic outbreak. UAVs of various sizes, from tiny to big, are being utilized for a wide range of purposes, demonstrating that both public and commercial organizations may employ UAVs as a planning and readiness tool for scenarios like these in the future.

Health officials are using UAVs to carry out duties like spraying disinfectants in possibly contaminated places as one of the crucial applications where they are being used by humans to combat the COVID-19 effect. Another important use is the decontamination of public spaces. These disinfectant-filled spraying UAVs are 50 times faster than traditional techniques and can cover a lot more ground in a shorter amount of time.

Unmanned Aerial Vehicle Market: Growth Drivers

Increasing demand of UAV use in civic and commercial applications accelerate the market’s growth

The healthcare and agricultural sectors are the main ones where drone use is expanding. Government organizations in important African nations, like Tanzania, have worked with delivery services like Zipline to send blood and medical supplies to remote and inaccessible places.

Drones are also changing how agriculture and farming are carried out. Farms and agricultural enterprises may increase crop yields, save time, and make decisions about land management that will boost long-term performance by integrating drone technology. Workers in the agricultural industry can collect data, automate unnecessary farming procedures, and overall increase productivity.

Drones have been used to pollinate flowers for scientific purposes and may one day help to make up for the diminishing bee population.

Increasing demand for UAVs for military use

For more than ten years, armed forces from several nations have used drones. The most well-known one is the Predator UAV. At the moment, ground troops frequently employ small drones. It is projected that military spending on UAV technology would increase as a proportion of overall military expenditures, providing growth prospects for specialist drone manufacturers and software developers.

In the Asia Pacific area, China is a crucial market for UAVs. It is now the second-largest defense spender in the world because to a robust economy and rising military expenditures. China is now the second-largest spender on defense in the world, and its neighbors, including Japan, India, Vietnam, the Philippines, and China, are working to improve their military budget and defense capabilities. Different drones are being developed specifically for surveillance purposes.

However, certain drones have been created for crucial tasks, such transporting weapons. Remotely piloted unmanned aerial vehicles are used by nations like China, India, Germany, and Azerbaijan to transport weapons for large numbers of troops. In addition, drones are employed as loitering weapons. When targets are seen, they hover above the targets, look for where the targets are, and then attack.

With the use of their real-time intelligence, surveillance, and reconnaissance (ISR) capabilities, drones are also employed to acquire information on current and life-threatening military activities.

Unmanned Aerial Vehicle: Segmentation Analysis

The unmanned aerial vehicle market is segmented into the wing type, application, and end use insights. Based on wing type, the market for fixed wing segment is estimated to lead the market during forecast period. It has taken over as a result of the growing use of fixed drones for quick aerial surveying of big regions. Fixed wing drones come in a variety of shapes, including straight, swept, and delta.

The benefits of fixed-wing drones include easy construction and low maintenance requirements, extended flying times, the ability to cover a big area quickly, stability, high picture quality, and other benefits. Fixed-wing drones are used for a variety of airborne tasks, including mapping and surveying, search-and-rescue operations, and ISR (Intelligence, Surveillance, and Reconnaissance) missions.

In the entire unmanned aerial vehicle market, the rotary-wing UAV sector is anticipated to grow at the highest CAGR. This is mostly because to its superior agility and compact design, ease of usage, better payload capacity, and comparably cheaper cost than other types of drones. Furthermore, because these drones can hover in midair, they need less room to take off.

By application, the surveying and mapping segment is anticipated to dominate the market during the forecast period. Over the projected period, the surveying and mapping segment is anticipated to rise at a significant clip. UAVS are frequently used for extensive mapping, as well as for real-time evaluation and monitoring of a variety of applications.

For a variety of uses, including road planning and mapping, UAVS are incredibly helpful in providing reliable information. UAVS can produce data that meets the accuracy standards of engineering surveys and policy, especially for small-scale mapping. UAVs are a cutting-edge, competitive technology that is developing quickly.

By end use insights, military & defense segment is anticipated to dominate the market during the forecast period. Demand for tactical and strategic Unmanned Aerial Vehicles (UAVs) for use by the military is increasing, which is driving the segment’s growth.

The use of surveillance and reconnaissance robots to learn about the structure of the battlefield and the surrounding enemy troops can greatly reduce the number of casualties. UAVs are capable of carrying out a range of tasks that would be risky for human soldiers, including surviving difficult terrain, triangulating enemy locations, sensing hazardous atmospheres, and more.

A continuous growth in the utilization of UAVS for speedy use in surveying, aerial mapping, agricultural monitoring, forest monitoring, and logistics is likely to benefit the commercial segment throughout the projection period.

Report Scope

Feature of the Report	Details
Market Size in 2023	USD 29.1 Billion
Projected Market Size in 2032	USD 50.4 Billion
Market Size in 2022	USD 26.8 Billion
CAGR Growth Rate	8.2% CAGR
Base Year	2023
Forecast Period	2024-2033
Key Segment	By Wing Type, Application, End Use Insights and Region
Report Coverage	Revenue Estimation and Forecast, Company Profile, Competitive Landscape, Growth Factors and Recent Trends
Regional Scope	North America, Europe, Asia Pacific, Middle East & Africa, and South & Central America
Buying Options	Request tailored purchasing options to fulfil your requirements for research.

Key Insights:

• Based on wing segmentation, the fixed wing segment is estimated to hold the largest market share during the forecast period and rotary wing segment is expected to grow at a significant rate.
• Based on application segmentation, the surveying and mapping segment is the leading revenue-generating category during the forecast period.
• Based on end use segmentation, the military & defense segment is the leading revenue-generating category during the forecast period.
• On the basis of geography/region, the North America region was the leading revenue generator in 2021.

Recent Development

• April 2022: Dallas-Fort Worth Metroplex, Texas, US-based Wing Aviation LLC has begun offering commercial drone delivery services. The local Walgreens store is the staging area for the drones, which will transport health and wellness supplies right to consumers’ homes. They also intended to send packages from Texas Health, Easyvet, and Blue Bell Creameries.
• January 2022: The unique and inventive Canary drone has been successfully developed and tested, according to Drone Delivery Canada Corp. Canary is an electric rotorcraft with a 20 km range and a 25 kg maximum takeoff weight that can transport a payload of 4 kg.

Regional Landscape

Throughout the projection period, North America is expected to continue to be among the most alluring markets and this region is accounted for the majority revenue share in the market. Since the widespread use of UAVs in aerial mapping, surveying, military activities, and forest monitoring,

North America accounted for the bulk of revenue share in the global UAV market, and it is projected that this trend would continue during the forecast period. The United States is the market leader in the North American area and a well-known producer of military unmanned aerial vehicles (UAVs) that exports its UAVs to a number of other nations. The nation spends a lot of money on the military and arms, which is mostly to blame.

Competitive Landscape

Our report offers both quantitative and qualitative insights into the WebRTC market and major development initiatives adopted by the key players. Further, it offers competitive details and market share analysis. The report further includes relevant financial information, products and services offered, SWOT analysis, and recent developments of the players profiled.

List of the prominent players in the global unmanned aerial vehicle market:

• General Atomics Aeronautical Systems Inc.
• Northrop Grumman Corporation
• Elbit Systems Ltd.
• Israel Aerospace Industries Ltd.
• SZ DJI Technology Co. Ltd.
• AeroVironment Inc.
• Lockheed Martin Corporation
• Kesper Drone
• Thales Group
• Aeronautics Ltd.
• Others

The global Unmanned aerial vehicle market is segmented as follows:

By Wing Type

• Fixed Wing
• Rotary Wing

By Application

• Transportation and Warehouse
• Surveying and Mapping
• Search and Rescue
• Firefighting
• Intelligence, Surveillance, and Reconnaissance (ISR)
• Combat Support

By End Use Insights

• Military & Defense
• Commercial
• Government & Law Enforcement
• Consumer

By Region

North America

• U.S.
• Canada
• Mexico
• Rest of North America

Europe

• Germany
• France
• U.K.
• Italy
• Spain
• Rest of Europe

Asia Pacific

• China
• Japan
• India
• New Zealand
• Australia
• South Korea
• Rest of Asia Pacific

The Middle East & Africa

• Saudi Arabia
• UAE
• Egypt
• Kuwait
• South Africa
• Rest of the Middle East & Africa

Latin America

• Brazil
• Argentina
• Rest of Latin America