Unmanned Aerial Vehicle Market Size, Share, Growth Analysis, By End-Use(Military, Public Safety & Security, Agriculture, Insurance), By Type(Fixed Wing, Rotary Wing), By Application(Military, Commercial, Government & Law Enforcement, Consumer), By Region - Industry Forecast 2024-2031

Q: What is the global market size of Unmanned Aerial Vehicle Market?

Global Unmanned Aerial Vehicle Market size was valued at USD 23.45 billion in 2021 and is poised to grow from USD 26.19 billion in 2022 to USD 70.91 billion by 2030, growing at a CAGR of 11.7% in the forecast period (2023-2030).

Report ID: SQSG25C2013 | Region: Global | Published Date: April, 2024
Pages: 165 | Tables: 98 | Figures: 76

Unmanned Aerial Vehicle Market Regional Insights

Due to the rising territorial disputes, insurrections, and subsequent demand for unmanned systems to operate ISR missions, objective acceptance, damage assessment, and associated operations, North America dominates the unmanned aerial vehicle industry in 2021. The use of UAVs for warfare purposes in unstable areas is expanding profitably. Additionally, the region's unmanned aerial vehicle industry is expanding due to the growing acceptance of UAVs for commercial uses.

A rising demand for UAVs from the region's developing countries, such India, with a CAGR of 18% is predicted to propel the Asia Pacific region's growth in the next years. One of the most important factors influencing the growth of the worldwide unmanned aerial vehicle (UAV) market in Asia Pacific in the next years is the increasing use of drones for commercial purposes.

Unmanned Aerial Vehicle Market Report Snapshots

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Unmanned Aerial Vehicle Market size was valued at USD 23.45 billion in 2019 and is poised to grow from USD 26.19 billion in 2023 to USD 70.91 billion by 2031, growing at a CAGR of 11.7% in the forecast period (2024-2031).

Unmanned Aerial Vehicle Market Top Players Company Profiles 'DJI (Da-Jiang Innovations Science and Technology Co.)', 'General Atomics Aeronautical Systems, Inc. (GA-ASI)', 'Northrop Grumman Corporation', 'Boeing', 'Lockheed Martin Corporation', 'Textron Inc.', 'AeroVironment, Inc.', 'Parrot SA', 'Israel Aerospace Industries (IAI)', 'SZ DJI Technology Co., Ltd.', 'Thales Group', 'Aerodyne Group', 'Yuneec International Co. Ltd.', 'Autel Robotics', 'FLIR Systems, Inc.', 'GoPro, Inc.', 'PrecisionHawk Inc.', 'Intel Corporation', 'Microdrones GmbH', 'senseFly SA'

For more than ten years, military forces from several nations have used drones. The most well-known one is the Predator UAV. At the moment, ground forces frequently employ small drones. It is projected that military spending on UAV technology would increase as a proportion of overall military budgets, providing growth prospects for specialised drone manufacturers and software developers. The MQ-4 Reaper, MQ-1B Predator, QF-4 Aerial Target, RQ-4 Hawk, AeroVironment Wasp AE, RQ-1 Predator, BQM-155 Hunter, CL-289 Piver, etc. are a few typical examples of military drones or UAVs.

Raw The growing need for UAVs in military applications is anticipated to drive the market's expansion. Drones have been employed by armed forces from several nations for more than ten years. The most popular UAV is the Predator. Small drones are presently used often by ground forces. Small- and large-scale drone technology is now being developed by hundreds of firms, and both state- and non-state actors are attempting to integrate drones into their military plans.

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Unmanned Aerial Vehicle Market Size, Share, Growth Analysis, By End-Use(Military, Public Safety & Security, Agriculture, Insurance), By Type(Fixed Wing, Rotary Wing), By Application(Military, Commercial, Government & Law Enforcement, Consumer), By Region - Industry Forecast 2024-2031

Unmanned Aerial Vehicle Market Regional Insights

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