Unmanned Aerial Vehicle Market Size Worth USD 77.69 Billion in 2030

According to the most recent Emergen Research analysis, the unmanned aerial vehicle market is expected to reach USD 23.60 billion in 2021, with a revenue CAGR of 14.6% during the forecast period. One of the key factors driving market revenue growth is the increased commercial drone application. Several industries have authorised the use of drones to collect large amounts of data in order to make critical business decisions. It has become a rapidly expanding commercial market worldwide, with applications including construction, mining, oil and gas, and agriculture. Because of the widespread commercial use of mapping, observation, surveying, and inspection studies, the construction sector is expected to provide a significant opportunity for market growth. Important infrastructure construction projects necessitate accurate data. to comprehend the current situation and potential future issues

During the COVID-19 pandemic, unmanned aerial vehicles (UAVs) played a critical role in a variety of areas, including law enforcement, healthcare product delivery, and e-commerce delivery. However, due to intermittent lockdowns imposed in countries around the world that manufacture and supply UAVs and related components, production supply chains have been halted or delayed due to a lack of raw materials and staff required to carry out manufacturing and assembly operations.

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Competitive Landscape:

Northrop Grumman Corporation and SZ DJI Technology Co. Ltd, AeroVironment, Inc., Elbit Systems Ltd., Lockheed Martin Corporation., BAE Systems PLC., Airbus SE, Textron Inc., Teledyne FLIR LLC, and Saab AB.

Emergen Research has segmented unmanned aerial vehicle market based on product, point of sale, technology, system, wing type, application, end-use, and region:

Product Outlook (Revenue, USD Billion; 2019–2030)

Small UAV

Tactical and Strategic UAV

Special Purpose UAV

Point of Sale Outlook (Revenue, USD Billion; 2019–2030)

Aftermarket

OEM

Technology Outlook (Revenue, USD Billion; 2019–2030)

Remotely Piloted

Optionally Piloted

Fully Autonomous

System Outlook (Revenue, USD Billion; 2019–2030)

UAV Airframe

UAV Avionics

UAV Payloads

UAV Propulsion

UAV Software

Wing Type Outlook (Revenue, USD Billion; 2019–2030)

Fixed Wing

Rotary Wing

Application Outlook (Revenue, USD Billion; 2019–2030)

Transportation and Warehouse

Surveying and Mapping

Search and Rescue

Firefighting

Intelligence, Surveillance, and Reconnaissance (ISR)

Combat Support

End-Use Outlook (Revenue, USD Billion; 2019–2030)

Military and Defense

Government and Law Enforcement

Commercial

Consumer

Some Key Highlights From the Report

OEM segment is expected to lead in terms of revenue contribution to the global market over the forecast period owing to the majority of the manufacturing and changes required in UAVs being performed at the OEM level.

Commercial segment revenue is expected to expand rapidly in terms of revenue during the forecast period because it can be related to drone technology breakthroughs and developments.

Asia Pacific is expected to register a considerably rapid growth rate in global unmanned aerial vehicle market over the forecast period owing to increasing commercial usage of drones in the countries in the region.

Some major companies in the market report include Northrop Grumman Corporation and SZ DJI Technology Co. Ltd, AeroVironment, Inc., Elbit Systems Ltd., Lockheed Martin Corporation., BAE Systems PLC., Airbus SE, Textron Inc., Teledyne FLIR LLC, and Saab AB.

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