The global UAV drones market is expected to grow by 2030 due to increasing demand from commercial and non-commercial end-users. Fixed wings sub-segment is expected to be the most dominant. Market in the North America region to be highly lucrative.
NEW YORK , Aug. 12, 2022 /PRNewswire/ — Research Dive has added a new report to its offering titled, “UAV Drones Market by Product Type (Fixed-Wing, Rotary Blade, and Hybrid), End-Use (Military & Defense, Retail, Construction, Agriculture, Entertainment, Law Enforcement, and Others), End-Use Industry (Military, Consumer, and Civil/Commercial), and Regional Analysis (North America, Europe, Asia-Pacific, and LAMEA): Global Opportunity Analysis and Industry Forecast, 2022–2030“.
According to the report, the global UAV drones market is predicted to register a revenue of $102,466.7 million by 2030, growing at a healthy CAGR of 19.6% during the forecast period 2022-2030.
Dynamics of the UAV Drones Market
Drivers: The wide range of applicability provided by UAV drones has led to an increase in their demand from both commercial as well as non-commercial end-users. This increase in demand is predicted to boost the UAV drones market in the forecast period. Additionally, technological advancements in the UAV drone sector are expected to drive the market forward.
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Opportunities: Over the years, governments across the world have changed their stance with respect to the UAV drone business. Many countries have given a go-ahead for the commercial use of UAV drones due to this change of policy. This change of stance is expected to offer numerous growth opportunities to the market. Along with this, the extensive usage of UAV drones by both, commercial and non-commercial end-use industries is predicted to take the market higher.
Restraints: According to market analysts, ensuring safety and efficiency of UAV drones, however, may become a challenge in the growth trajectory of the UAV drones market.
Covid-19 Impact on the UAV Drones Market
Since the outbreak of Covid-19 pandemic, strict lockdowns and travel restrictions were put in place by various governments across the world. This negatively impacted several industries and businesses causing disruptions in supply chains and manufacturing processes. The UAV drones market faced a similar situation wherein there was a massive decline in demand for UAV drones from commercial as well as non-commercial end-users.
However, government policies to allow commercial usage of drones and technological advancements in this sector are both predicted to help the market regain its lost ground in the post-pandemic period.
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Segments of the UAV Drones Market
The report has fragmented the UAV drones market into a few segments based on product type, end-use, end-use industry, and regional analysis.
- By product type, the fixed-wing sub-segment of the UAV drones market is anticipated to have a dominating market share and register a revenue of $72,052.9 million by 2030. Fixed-wing drones are the most commonly used drones as they can fly for longer periods of time as compare to other drones. This most important utility of fixed-wing drones is predicted to boost the growth of this sub-segment in the forecast period.
- By end-use, the military and defense sub-segment is predicted to garner the highest revenue and register $65,298.5 million by 2030. UAV drones are used in military and defense operations for performing various roles across the borders, which is anticipated to push the growth rate of this sub-segment higher.
- By end-use industry, the consumer sub-segment is anticipated to have fastest growth rate and garner $19,953.4 million by 2030. Increasing use of UAV drones by consumers including the government sector is projected to augment the growth rate of this sub-segment in the forecast period.
- By regional analysis, the UAV drones market in the North America region is estimated to be the most dominant and is projected to grow with a CAGR of 16.8%. The presence of large drone manufacturing industries in this part of the world along with the massive technological developments that are taking place in the countries of this region is estimated to help the market grow substantially in this region.
Broader Insights Pertaining (Avail10%OFF) on a Specific Segments or Regions of UAV Drones Market
Prominent UAV Drones Market Players
Some prominent market players are
- General Atomics
- Northrop Grumman
- Textron Inc.
- Boeing
- DJI
- Parrot Drone SAS
- 3D Robotics Inc.
- Aeryon Labs Inc.
- Aerovironment, Inc.
- Thales., among others.
These players are building several strategies like product development and enhancement, merger and acquisition, partnerships and collaborations to assist the market growth. – Buy the Full Report Here
For example, in November 2021, Trentar Group, a leading technological solutions provider, announced that it had acquired a majority stake in TM Aerospace, an unmanned aerial systems developer. Previously, Trentar Group had also acquired a UAV drones manufacturing company called GarudaUAV. With both these acquisitions, Trentar Group has consolidated its position in the market considerably.
The report also sums up various crucial facets including financial performance of the UAV drones market players, SWOT analysis, product portfolio, and the latest strategic developments.
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