Unmanned Aerial Vehicle Market Latest Industry Trends, Statistics, Competition Strategies and Latest Industry Share by 2027, Fortune Business Insights

(The Express Wire via Comtex)

The global unmanned aerial vehicle market is expected to gain momentum from the increasing advancements in the field of drones. They are capable of analyzing millions of images for enhancing the decision-making skills of the management in a wide range of industries.Fortune Business Insights™presented this information in a new report, titled, “Unmanned Aerial Vehicle Market Size, Share and Industry Analysis, By Class (Small UAVs, Tactical UAVs, and Strategic UAVs), By Technology (Remotely Operated, Semi-autonomous, and Fully-autonomous), By System (UAV Airframe, UAV Payloads, UAV Avionics, UAV Propulsion, and UAV Software), By Application (Military, Commercial and Recreational), and Regional Forecast, 2020-2027.” The report further states that the unmanned aerial vehicle (UAV) market size wasUSD 10.72 billionin 2019 and is projected to reachUSD 25.13 billionby 2027, exhibiting a CAGR of 12.23% during the forecast period.

The outbreak of the COVID-19 pandemic has halted the operations of several companies. But, some of them have resumed their production processes by stringently following social distancing and low workforce measures. We will soon be able to overcome this situation with the discovery of a vaccine. Our report would provide detailed information about the effects of this pandemic on every market. You can gain business confidence by selecting the right strategy.

This Report Answers the Following Questions:

  • What are the market dynamics, drivers, and obstacles?
  • Which company will generate the largest revenue in the near future?
  • How will COVID-19 impact the sales of UAVs?
  • Which strategies are being adopted by companies to intensify competition?

An Overview of the Impact of COVID-19 on this Market:

The emergence of COVID-19 has brought the world to a standstill. We understand that this health crisis has brought an unprecedented impact on businesses across industries. However, this too shall pass. Rising support from governments and several companies can help in the fight against this highly contagious disease. Some industries are struggling and some are thriving. Overall, almost every sector is anticipated to be impacted by the pandemic.

We are taking continuous efforts to help your business sustain and grow during COVID-19 pandemics. Based on our experience and expertise, we will offer you an impact analysis of coronavirus outbreak across industries to help you prepare for the future.

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Drivers and Restraints-

Need to Avoid Physical Contact amidst COVID-19 to Skyrocket Demand

The effect of COVID-19 pandemic on the market is likely to remain moderate backed by the increasing usage of drones by the regulatory bodies worldwide to monitor public gatherings, thereby limiting direct physical contact. Antwork Inc., a China-based drone delivery company, for instance, provided medical supplies and reduced the involvement of humans by using drones. Also, in countries, such as the Netherlands, Belgium, Spain, India, China, Russia, and France, UAVs are extensively being used to spray disinfectants on government buildings, emergency hospitals, and public healthcare infrastructure. However, the strict government norms and laws regarding the usage of airspace to eliminate accidental damages may hamper the unmanned aerial vehicle market growth in the coming years.

Segment-

Commercial Segment to Grow Rapidly Backed by Investment by Companies to Develop Air Taxi

In terms of application, the market is fragmented into commercial, residential, and military. Out of these, the commercial segment generated 4.6% in terms of unmanned aerial vehicle market share in 2019. This growth is attributable to the increasing usage of UAVs in logistics, forest monitoring, crop monitoring, aerial mapping, and surveying. Besides, industry giants, such as Uber and DHL Logistics are investing hefty amounts of money to develop Air Taxi and innovating air transportation, respectively. These factors would also contribute to the growth of this segment.

Regional Analysis-

Increasing Usage of Drones in Military Applications to Spur Growth in North America

Geographically, in 2019, North America held USD 3.88 billion in terms of revenue. The region is anticipated to dominate during the forthcoming years owing to the rising usage of UAVs in several military applications. The U.S. houses a large number of renowned military UAVs manufacturers who are gaining a competitive edge by exporting their products to numerous countries worldwide.

Europe, on the other hand, is expected to grow moderately stoked by the high demand for navigation systems, avionics, software solutions, and cameras in the region. In Asia Pacific, the high demand for advanced warfare UAVs for tactical and strategic applications would affect the market growth positively in the near future. The major importers in this region are China, Pakistan, and India.

Unmanned Aerial Vehicle Market report Focus on:

  • Extensive product offerings
  • Customer research services
  • Robust research methodology
  • Comprehensive reports
  • Latest technological developments
  • Value chain analysis
  • Potential Market opportunities
  • Growth dynamics
  • Quality assurance
  • Post-sales support
  • Regular report updates

Reasons to Purchase this Report:

  • Comprehensive analysis of the market growth drivers, obstacles, opportunities, and other related challenges.
  • Tracks the developments, such as new product launches, agreements, mergers and acquisitions, geographical expansions, and joint ventures.
  • Identifies market restraints and boosters.
  • Identifies all the possible segments present in the market to aid organizations in strategic business planning.

To get the short-term and long-term impact of COVID-19 on this Market, Visit:https://www.fortunebusinessinsights.com/industry-reports/unmanned-aerial-vehicle-uav-market-101603

Key Questions Answered:

  • Why Choose Fortune Business Insights?
  • What are the key demands and trends shaping the market?
  • What are the key opportunities in the market?
  • What are the key companies operating in the market?
  • Which company accounted for the highest market share?
  • What is the market size and growth rate of the global and regional market by various segments?
  • What is the market size and growth rate of the market for selective countries?
  • Which region or sub-segment is expected to drive the market in the forecast period?
  • What Factors are estimated to drive and restrain the market growth

Competitive Landscape-

Key Players Focus on Delivering Essentials via UAVs to Prevent Coronavirus Infection

The market is highly fragmented with the presence of a wide range of manufacturing companies all over the world. Some of them are presently focusing on delivering essentials through drones owing to the COVID-19 pandemic. The others are focusing on mergers and acquisitions with other local enterprises to strengthen their positions. Below are a couple of the latest industry developments:

  • June 2020: After Wing, a firm owned by Google parent Alphabet launched its new drone delivery service in Virginia, Kelly Passek became the first customer. She is a middle-school librarian who petitioned the company to deliver library books to help kids in reading and learning amidst the COVID-19 pandemic.
  • September 2019: Rafael Advanced Defense Systems, a defense company based in Israel, successfully acquired Aeronautics Limited worth USD 240 million. This would help the latter to combine its expertise in intelligence, surveillance and reconnaissance with Rafael’s large network in the U.S. market.

Fortune Business Insights™ presents a list of all the UAV manufacturers operating in the global market. They are as follows:

  • DJI (China)
  • Parrot (France)
  • Yuneec (China)
  • 3D Robotics (U.S.)
  • Go Pro (U.S.)
  • Holy Stone (Taiwan)
  • Autel Robotics (U.S.)
  • Sense Fly (Switzerland)
  • Kesper Drone (U.S.)
  • Hexagon (Sweden)
  • Delair (France)
  • AeroVironment Inc., (U.S.)
  • Other Players

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Press Release Distributed by The Express Wire

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