DUBLIN--(BUSINESS WIRE)--The "Global Unmanned Aerial Vehicle (UAV) Market Value and Volume: Focus on Class (small and large), Component, and End-User Analysis and Forecast (2017-2021)" report has been added to ResearchAndMarkets.com's offering.
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. 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 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.
Market Dynamics
Market Drivers
- Consumer Focused Innovation
- Increased demand for actionable intelligence
- Precision farming, and hyper-spectral imagery
- Growing UAV penetration in civil, and commercial applications
- Increasing need of UAVs for military purposes
Market Challenges
- Government regulations
- High accident rate of existing systems
- Vulnerability of UAVs to cyber attacks
- High initial investment and Strong Government Support
Market Opportunities
- New emerging applications
- Market Penetration of UAVs into different regions
Key Topics Covered:
Executive Summary
1 Report Scope & Methodology
2 Market Dynamics
3 Competitive Insights
4 Industry Analysis
5 Global UAV Market Analysis & Forecast, 2016-2021
6 Global UAV Market by Class, Analysis & Forecast, 2016-2021
7 Global UAV Market by Components, Analysis & Forecast, 2016-2021
8 Industry Insights on Components of UAVs
9 Global UAV Market by End-User, Analysis & Forecast, 2016-2021
9 .1 Market Overview
10 Global UAV Market by Region, Analysis & Forecast, 2016-2021
11 Company Profiles
- 3D Robotics
- AeroVironment, Inc.
- Airbus Group
- BAE Systems
- CybAero AB
- DJI Innovations
- Elbit Systems Ltd.
- General Atomics Aeronautical Systems, Inc.
- Israel Aerospace Industries Limited
- Lockheed Martin Corporation
- Northrop Grumman
- Parrot SA
- SAAB Group
For more information about this report visit https://www.researchandmarkets.com/research/tr34m4/global_unmanned?w=4
