UAV Market

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Unmanned Aerial Vehicle Market to Reach 63.5
Billion by 2031
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Global Unmanned Aerial Vehicle Market 2024-2031
Meticulous Researcha leading global market
research company, published a research report
titled Unmanned Aerial Vehicle MarketGlobal
Opportunity Analysis and Industry Forecast
(2024-2031). According to this latest
publication from Meticulous Research, the
unmanned aerial vehicle market is expected to
reach 63.5 billion by 2031, at a CAGR of 12.7
from 2024 to 2031. The growth of the unmanned
aerial vehicle (UAV) market is being driven by
several key factors, such as the increasing
adoption of UAVs in civil and commercial sectors,
their expanded use in border surveillance and
counter-terrorism efforts, and regulatory
exemptions worldwide that facilitate UAV
deployment across various industries. However,
market growth is restrained by UAVs' technical
limitations. In addition, the rising use of UAVs
for aerial remote sensing and the expanding
defense budgets of major economies present
significant opportunities for market
participants. However, the market faces
substantial challenges, including a lack of
proper air traffic management for UAVs and
increasing threats to safety and privacy. Key
Players The unmanned aerial vehicle market is
characterized by a moderately competitive
scenario due to the presence of many large- and
small-sized global, regional, and local players.
The key players operating in the unmanned aerial
vehicle market are Elbit Systems Ltd. (Israel),
Northrop Grumman Corporation (U.S.), General
Atomics (U.S.), AeroVironment, Inc. (U.S.),
Lockheed Martin Corporation (U.S.), Israel
Aerospace Industries Ltd. (Israel), Parrot S.A.
(France), Microdrones Gmbh (Germany),
PrecisionHawk, Inc. (U.S.), SZ DJI Technology
Co., Ltd. (China), 3D Robotics (U.S.), Textron
Inc. (U.S.), The Boeing Company (U.S.), Saab AB
(Sweden), BAE Systems Plc (U.K.), Ehang (China),
Raytheon Technologies Corporation (U.S.), Yuneec
(China), Turkish Aerospace Industries (Turkey),
and Primoco UAV SE (Czech Republic). The
unmanned aerial vehicle market is segmented by
component (UAV hardware (UAV avionics (UAV
navigation systems (UAV GPS/GNSS, UAV INS/IMU,
UAV sense avoid systems), UAV sensors (speed
sensors, light sensors, proximity sensors,
position sensors, temperature sensors), UAV
flight control systems, UAV communication
systems, other UAV avionics), UAV propulsion
systems (UAV engines (electric engines, gas
engine), UAV batteries (fuel cells, hybrid cells,
solar cells), UAV airframes, UAV ground control
stations, UAV launch recovery systems (UAV
launcher, recovery systems)), UAV software
(flight management software, data management
software, drone mapping software, image
processing software, data analytics software))
class (small UAVs (mini UAVs, micro UAVs),
strategic tactical UAVs, special purpose UAVs)
type (rotary- wing UAVs (multi rotor wing UAVs,
single rotor wing UAVs), fixed-wing UAVs,
fixed-wing VTOL UAVs) capacity (less than 25
kilograms, greater than 170 kilograms, between
25-170 kilograms) mode of operation (remotely
operated UAVs, semi-autonomous UAVs, fully
autonomous UAVs) end user (military,
agriculture, media advertising, commercial,
transportation logistics, construction mining
(monitoring and inspection, automatic surveying
and mapping, stockpile management, haulage road
optimization), energy power, wildlife
forestry, insurance, law enforcement (crime scene
investigation, cars, planes and boat accidents,
traffic management and flow), other end users).
This study also evaluates industry competitors
and analyzes the regional and country-level
markets.
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Global Unmanned Aerial Vehicle Market 2024-2031
Among the components studied in this report, the
UAV hardware segment is anticipated to hold a
dominant position, with a share of over 72 of
the market in 2024. This segments substantial
market share is largely attributed to
technological advancements and the increasing
integration of sensors such as LiDAR, thermal
imaging, and high-resolution cameras, which
enhance drone functionality. Moreover, the rising
demand for replacement, upgrades, and
modifications of drone hardware components aims
to extend lifespan and improve performance,
thereby providing a competitive edge.
Furthermore, companies are increasingly focusing
on modifying and developing drone structures to
operate effectively in extreme climatic
conditions, further driving market growth. Among
the classes studied in this report, the small
UAVs segment is anticipated to hold the dominant
position, with a share of over 41 of the market
in 2024. This segments substantial market share
is primarily driven by the increasing adoption of
small UAVs in various commercial applications,
including law enforcement, media and
entertainment, energy and power, wildlife
surveys, disaster management, logistics and
transportation, manufacturing, and inventory
management. Among the types studied in this
report, the rotary-wing UAVs segment is
anticipated to hold the dominant position, with a
share of over 62 of the market in 2024. This
segments substantial market share is primarily
driven by increased venture funding for the
deployment of rotary-wing drones in the
agriculture sector, the growing use of drones for
aerial photography, videography, and delivery
services, as well as the trend toward compact
designs, user-friendliness, higher payload
capacity, and lower costs compared to other drone
types. Additionally, these drones require less
space for takeoff and are capable of hovering
mid-flight. Among the capacities studied in this
report, the less than 25 kilograms segment is
anticipated to hold the dominant position, with a
share of over 43 of the market in 2024. This
segments substantial market share is primarily
driven by the growing adoption of small UAVs in
commercial applications such as aerial
photography, videography, precision agriculture,
and delivery services, owing to their lower costs
and ease of operation. Additionally, the
strategic development of small UAVs by market
players and regulatory advantages in many
countries, which consider small UAVs to be less
risky than their larger counterparts, further
contribute to this growth. Among the modes of
operation studied in this report, the remotely
operated UAV segment is anticipated to hold the
dominant position, with a share of over 46 of
the market in 2024. This segments substantial
market share is primarily driven by features such
as emergency landing, disconnecting recovery, and
emergency handover between control channels,
along with the rising demand for remotely
operated UAVs in military applications. Among
the end users studied in this report, the
military segment is expected to account for the
largest share of over 64 of the market in 2024.
This segments substantial market share is
primarily driven by the growing demand for
autonomous UAVs in intelligence, surveillance,
and reconnaissance (ISR) missions. The preference
for UAVs over manned aircraft, due to their
affordability in operation and maintenance,
further supports this trend. Additionally, the
increasing need for high-altitude long-endurance
(HALE), medium-altitude long-endurance (MALE),
and tactical and special-purpose UAVs for
operations such as border surveillance and
counter-terrorism will further enhance UAV
deployment in military applications. Geographic
Review
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Global Unmanned Aerial Vehicle Market 2024-2031

• This research report analyzes major geographies
  and provides a comprehensive analysis of North
  America (U.S., Canada), Europe (Germany, U.K.,
  France, Italy, Spain, and Rest of Europe), Asia-
  Pacific (China, India, Japan, Australia New
  Zealand, South Korea, and Rest of Asia-Pacific),
  Latin America (Mexico, Brazil, and Rest of Latin
  America), and the Middle East Africa (UAE,
  Israel, and Rest of Middle East Africa).
• Among the geographies studied in this report,
  North America is anticipated to hold the dominant
  position, with a share of over 48 of the market
  in 2024, followed by Asia-Pacific, Europe, Latin
  America, and Middle East Africa. The
  substantial share of this regional market can be
  attributed to several factors, including the
  rising demand for UAVs in military and commercial
  applications in Canada and the U.S., the presence
  of major market players, the growing adoption of
  drones in the agriculture sector, and increasing
  government initiatives promoting UAV use across
  various sectors.
• Download Sample Report Here _at_ https//www.meticulo
  usresearch.com/download-sample- report/cp_id5086
• Key Questions Answered in the Report-
• What is the value of revenue generated by the
  sale of unmanned aerial vehicles?
• At what rate is the global demand for unmanned
  aerial vehicles projected to grow for the next
  five to seven years?
• What is the historical market size and growth
  rate for the unmanned aerial vehicle market?
• What are the major factors impacting the growth
  of this market at global and regional levels?
• What are the major opportunities for existing
  players and new entrants in the market?
• Which component, class, type, capacity, mode of
  operation, and end user segments create major
  traction for the manufacturers in this market?
• What are the key geographical trends in this
  market? Which regions/countries are expected to
  offer significant growth opportunities for the
  manufacturers operating in the unmanned aerial
  vehicle market?
• Who are the major players in the unmanned aerial
  vehicle market? What are their specific product
  offerings in this market?
• What recent developments have taken place in the
  unmanned aerial vehicle market? What impact have
  these strategic developments created on the
  market?
• Contact Us
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  Sales- 1-646-781-8004
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