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The UAV Drones Market is forecast to reach $46.2 billion by 2025, growing at a CAGR of 14.9% from 2020 to 2025. The increase in the worldwide procurement of military UAVs by defense forces is one of the most significant factors that are projected to drive UAV market growth. Also contributing to the growth of the UAV market is the growing use of UAVs in various commercial applications, such as tracking, surveying & mapping, precision agriculture, aerial remote sensing and drug distribution. Moreover, the evolution of new innovative technologies, such as collision avoidance and geo-fencing that make flying drones safer, has led to increased consumer drone adoption across the global industry. Its growth can be attributed to increased use of multi-rotor drones in the application of aerial photography and FPV racing.
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Component – Segment Analysis
The UAV drones market is segmented by components into sensor, camera, navigation systems and controllers, propulsion, actuators, fuel and battery, body panels among others. During the forecast period, camera is expected to hold the largest market share among all of the components. UAVs use camera systems for continuous video surveillance, investigation, remote surveillance, border security and critical infrastructure protection, thermographic inspection of inaccessible buildings, and firefighting and law enforcement applications. The high rate of adoption of cameras for military and commercial applications is a key factor driving the growth of the UAV drones market for cameras. However, the market for sensors is expected to grow at a higher CAGR of around 16.4% during the forecast period 2020 – 2025. Growth in this segment is due to use to monitor and optimize power drain, safe charging of internal batteries, and detect fault conditions with motors or other areas of the system.
End User – Segment Analysis
Of all the major military drone applications, the border security market held the largest share in 2019. Drones help capture images and videos (e.g., smuggler footage and border-crossing undocumented immigrants) using various payloads, such as camera systems and sensors. Predator drones can silently patrol boundaries in desolate areas in search of infiltrators, illegal immigrants, human traffickers and drug peddlers. A key factor driving the growth of the military drone market for border security applications is the increasing demand for long-endurance and highly stable UAV systems from armies worldwide to secure their frontiers. During the forecast period, the market for Search and Rescue applications is expected to grow to the highest CAGR of around 17.2%.
Geography – Segment Analysis
The UAV market was segmented by region into North America, Europe, Asia Pacific, the Middle East, Latin America and Africa. The largest UAV market in 2019 is estimated to be in North America accounting to around 46%. The increasing use of UAVs for border and maritime surveillance activities in countries like the US and Canada is driving the growth of North America’s UAV marketplace. The US has used UAVs extensively in attacks against militant groups in Syria, Libya and Iraq. UAVs have been used in various environments and high-risk roles in Canada, such as atmospheric research, including weather and atmospheric gas sampling and oceanographic investigation. The APAC market is expected to grow at the highest CAGR of around 20.1% from 2020 through 2025
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Drivers – UAV Drones Market
Increasing use of unmanned aerial vehicles in commercial and military applications
One of the most significant factors expected to drive growth on the UAV market is the increasing use of unmanned aerial vehicles in commercial and military applications. Improvements in flight control systems are expected to fuel the growth of the UAV market thanks to the advancement of sense & avoid technology. Unmanned Aerial Vehicles will continue to be applied in various military operations due to their high convenience in reducing losses and enabling the execution of high profile and time-sensitive missions.
Growing demand from industrial and commercial verticals
The fact that UAVs have the potential to perform dangerous tasks, such as inspecting utility pipelines, with greater precision and cost-effectiveness compared to traditional methods is one of the main factors driving their demand in industrial field. New drone-supportive regulations by government agencies around the world are expected to reduce entry barriers for new start-ups and innovators providing UAV commercial operations. Leading technology giants have demonstrated use of UAVs in delivering goods to customers from the warehouse. It is expected that the introduction of commercial drone delivery services will foster various innovative forms of cargo transport capabilities such as temperature sensitive commodities and emergency medicines.
Challenges – UAV Drones Market
Stringent Regulations
The rules and regulations imposed by various government agencies on the use of UAVs in civil & commercial applications are one of the major challenges for the growth of the UAV market around the globe. The Federal Aviation Administration (FAA) has provided three routes for the legal use of UAVs in the US airspace, which are a Certificate of Authorization (CoA) granted by the Federal Aviation Administration (FAA) for public agencies, approval from the Federal Aviation Administration ( FAA) in the form of a special certificate of airworthiness for private organizations, and adherence to model aircraft standards by UAV users.
Acquisitions/Technology Launches/Partnerships
Key Takeaways
Market Landscape
Product launches, acquisitions, and R&D activities are key strategies adopted by players in the UAV Drones Market. UAV Drones driver market is expected to be dominated by major companies such as Northrop Grumman (US), DJI (China), General Atomics Aeronautical Systems (US), Parrot (France), Thales (France), 3DR (US), Boeing (US), PrecisionHawk (US), Lockheed Martin (US), AeroVironment (US), Elbit Systems (Israel), Israel Aerospace Industries (Israel), ING Robotic Aviation (Canada), AiDrones (Germany), Nimbus srl (Italy), Aeroscout (Switzerland), VTOL Technologies (UK), Xiaomi (China), and Delta Drone (France) among others.
Related Reports:
A. Sensors for Drones and Robots Market
https://www.industryarc.com/Report/19236/sensors-for-drones-and-robots-market.html
B. Small Drones Market
https://www.industryarc.com/Report/15083/small-drones-market.html
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