'Unmanned Aerial Vehicle (UAV) Market to 2025 - Global Analysis and Forecasts by Component (Hardware (Camera and Sensors) and Software); by Type (Fixed Wing, Multi Rotor, Single Rotor, and Hybrid) and Application (Military & Defense, Retail, Media & Entertainment, Personal, Agriculture, Industrial, Law Enforcement, and Construction)'
UAV market is expected to grow US$ 51.85 billion by 2025 from US$ 11.45 billion in 2016. In 2017, the UAV industry marked a significant growth in UAV sales as well as software licenses. This has created aggressive competition in the market, company layoffs, low entry barriers, and reorganizations and consolidations. The commercial application of UAV has increased considerably, which resulted in companies providing better services and enhanced products to the users.
The global market for UAV exhibit mediocre growth in near future. Some of the major driving factors contributing to the market growth increasing military budgets of several countries, and rising adoption of UAVs in commercial sector. However, absence of defined legal regulations in is the major restraining factors behind the growth of UAV market during the forecast period.
UAV market by application is segmented into Military & Defense, Retail, Media & Entertainment, Personal, Agriculture, Industrial, Law Enforcement, and Construction among others. The increasing adoption of UAVs among different industries such as mining, oil & gas, telecommunications and retail among others is anticipated to influence the market growth. Further, the rising trend of drone delivery service is expected to bolster the market during the forecast period. For instance, countries in Africa such as Rwanda, Malawi, Tanzania, and Cameroon are progressively implementing drone delivery services. Recently, operational drone delivery service in Iceland has been launched. However, drone delivery service in US is still on its testing stage and is anticipated to launch soon with the changes in government regulations. Also, the drone delivery service will provide potential opportunity to companies in emerging economies that still faces issues related to lack of transportation infrastructure. Further, JD.com, one of the China’s biggest online retailer is testing UAVs capable of carrying up to a ton of cargo. The company is anticipated to build a fully autonomous warehouse and is expected to create an autonomous delivery network using UAVs.
The overall market size has been derived using both primary and secondary source. The research process begins with an exhaustive secondary research using internal and external sources to obtain qualitative and quantitative information related to the market. Also, primary interview were conducted with industry participants and commentators in order to validate data and analysis. The participants who typically take part in such a process include industry expert such as VPs, business development managers, market intelligence managers and national sales managers, and external consultant such as valuation experts, research analysts and key opinion leaders specializing in the UAV industry.
Reasons to Buy:
- Save and reduce time carrying out entry-level research by identifying the growth, size, leading players and segments in the global UAV market
- Highlights key business priorities in order to assist companies to realign their business strategies
- The key findings and recommendations highlight crucial progressive industry trends in the global UAV market, thereby allowing players across the value chain to develop effective long-term strategies
- Develop/modify business expansion plans by using substantial growth offering developed and emerging markets
- Scrutinize in-depth global market trends and outlook coupled with the factors driving the market, as well as those hindering it
- Enhance the decision-making process by understanding the strategies that underpin commercial interest with respect to client products, segmentation, pricing and distribution
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Companies Mentioned
- 3D Robotics, Inc
- AeroVironment, Inc
- Airware
- DJI
- DroneDeploy
- Northrop Grumman Corporation
- Parrot SA
- PrecisionHawk Inc
- senseFly SA
- Yuneec International Co. Ltd
