DUBLIN--(BUSINESS WIRE)--The "Unmanned Defense Aerial Vehicle Global Market Report 2021: COVID-19 Growth and Change to 2030" report has been added to ResearchAndMarkets.com's offering.
The global unmanned defense aerial vehicle market is expected to grow from $6.9 billion in 2020 to $7.71 billion in 2021 at a compound annual growth rate (CAGR) of 11.7%.
The growth is mainly due to the companies resuming their operations and adapting to the new normal while recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges.
The market is expected to reach $18.76 billion in 2025 at a CAGR of 25%.
Major players in the unmanned defense aerial vehicle market are Boeing, BAE Systems, PLC, DJI, Elbit Systems, General Atomics, Israel Aerospace Industries, Northrop Grumman, Textron and AeroVironment.
The unmanned defense aerial vehicle market consists of sales of unmanned aerial vehicles (UAV) and related services to defense. Unmanned aerial vehicles are drones and aircrafts with no onboard human and are guided autonomously. UAVs carry sensors, target designators, aircraft ordnance such as ATGMs, missiles, and bombs, or electronic transmitters that are designed to destroy enemy targets.
Increasing spend on defense for unmanned technologies is predicted to contribute to the growth of unmanned defense aerial vehicle market during the forecast period. According to National Defense India's Business Technology Magazine published in January 2020, the global spending on unmanned aerial vehicles is projected to witness major expansion owing to growing military investments over the coming decade.
The defense sector across the globe is set to invest $98 billion in new strike capabilities and intelligence gathering applications. Moreover, the USA defense procurement is expected to ramp up from $2.5 billion in 2020 to approximately $3.3 billion by the end of 2030. Thus, the increasing spend on R&D by the defense sector on unmanned technologies is anticipated to propel the revenues for the unmanned defense aerial vehicles market over the forthcoming years.
The stringent regulations imposed by the government on the use of unmanned defense aerial vehicles are projected to limit the growth of the market during the period. The governments of various countries are implementing various regulations associated with the use of unmanned aerial vehicles (UAVs).
According to the Library of Congress' Regulation of Drones report, the new regulation imposed by the government of Canada on UAVs provides a classification for unmanned aerial vehicles on the bases of risks involved in the use. The operations of UAVs weighing 25 kg or more are subject to the licensing requirements.
Similarly, the Federal Aviation Administration (FAA) imposed restriction on unmanned vehicles to fly below 400 feet within the lateral boundaries of US military facilities and violation of this rule is subject to enforcement action, which includes civil penalties and criminal charges. Therefore, the government regulations associated with the usage of UAVs is expected to act as a major factor hampering the growth of unmanned defense aerial vehicles market during the forecast period.
The unmanned defense aerial vehicle market covered in this report is segmented by UAV type into multi rotor; single rotor; fixed wing; fixed wing hybrid VTOL. It is also segmented by range into visual line of sight (VLOS); extended visual line of sight (EVLOS); beyond line of sight (BLOS) and by technology into remotely operated; semi-autonomous; fully-autonomous.
Key Topics Covered:
1. Executive Summary
2. Unmanned Defense Aerial Vehicle Market Characteristics
3. Unmanned Defense Aerial Vehicle Market Trends and Strategies
4. Impact of COVID-19 on Unmanned Defense Aerial Vehicle
5. Unmanned Defense Aerial Vehicle Market Size and Growth
5.1. Global Unmanned Defense Aerial Vehicle Historic Market, 2015-2020, $ Billion
5.1.1. Drivers of the Market
5.1.2. Restraints on The Market
5.2. Global Unmanned Defense Aerial Vehicle Forecast Market, 2020-2025F, 2030F, $ Billion
5.2.1. Drivers of the Market
5.2.2. Restraints on the Market
6. Unmanned Defense Aerial Vehicle Market Segmentation
6.1. Global Unmanned Defense Aerial Vehicle Market, Segmentation By UAV Type, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
- Multi Rotor
- Single Rotor
- Fixed Wing
- Fixed Wing Hybrid VTOL
6.2. Global Unmanned Defense Aerial Vehicle Market, Segmentation By Range, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
- Visual Line of Sight (VLOS)
- Extended Visual Line of Sight (EVLOS)
- Beyond Line of Sight (BLOS)
6.3. Global Unmanned Defense Aerial Vehicle Market, Segmentation By Technology, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
- Remotely Operated
- Semi-Autonomous
- Fully-Autonomous
7. Unmanned Defense Aerial Vehicle Market Regional and Country Analysis
7.1. Global Unmanned Defense Aerial Vehicle Market, Split By Region, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
7.2. Global Unmanned Defense Aerial Vehicle Market, Split By Country, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
Companies Mentioned
- Boeing
- BAE Systems
- PLC
- DJI
- Elbit Systems
- General Atomics
- Israel Aerospace Industries
- Northrop Grumman
- Textron
- AeroVironment
- Lockheed Martin Corporation
- 3D Robotics
- Action Drone
- AguaDrone
- Airbus
- Autel Robotics
- CyPhy
- Delair
- Dragonfly Innovations Inc.
- Hubsan
- Insitu
- Kespry
- Parrot
- Yuneec International Co. Ltd.
For more information about this report visit https://www.researchandmarkets.com/r/vbx9mi
