Unmanned Aerial Vehicles Market Size, Competitive Landscape and Market Forecast - 2029

SKU: DMAD2908 | Last Updated On: Jun 25 2022 | Available Formats

> Global Unmanned Aerial Vehicles Market Expected to reach a high CAGR of 11% By 2029: DataM Intelligence

Global Unmanned Aerial Vehicles Market is segmented By UAV Type (Fixed Wing Drones, Fixed-Wing Hybrid VTOL UAVs, Single Rotor UAVs, Multi-Rotor UAVs (Tricopter, Quadcopter, Octocopter)), By Range (Close UAVs, Medium Altitude Long Endurance (MALE) UAVs, High Altitude Long Endurance (HALE) UAVs, Others), By Component (Aerial Platform, Navigation Systems, Propulsion Systems, Sensors, Communication Systems, Others), By End-Use Industry (Agriculture, Defense, and Military, Aerospace and Aviation, Power & Energy, Media & Entertainment, Healthcare, Mapping and Surveying, Oil & Gas, Others), and By Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) – Share, Size, Outlook, and Opportunity Analysis, 2022-2029

 

Market Overview

The Global Unmanned Aerial Vehicles Market is expected to grow at a high CAGR of 11% during the forecasting period (2022-2029).

An Unmanned Aerial Vehicle (UAV) is an aircraft designed with autonomous flying capability without a human pilot onboard.

These are majorly used in applications such as navigation, mapping, surveillance, and reconnaissance. These systems' ability to fly to remote locations and capture clear images boosts UAVs' use in these applications.

UAVs are increasingly becoming popular in a wide range of industries ranging from military and defence to agriculture, healthcare, aerospace, energy, and power generation, among others.

Technological advancements such as the development of high altitude UAVs, long battery devices, and solar-powered UAVs propel the market growth ➢ North American region is leading in the global UAV market as of 2019 wide use defence, commercial and personal applications.

Segmentation Analysis

By End-Use Industry

Agriculture evolved as the largest end-use industry in the global UAVs market, holding a share of XX% in the total sales revenue in 2019

Agricultural UAVs, also known as agricultural drones, are considered significant in farming and livestock growing industries globally. These systems are offering several safety, economical and qualitative benefits to farmers.

These flying machines equipped with sensors, digital imaging, and mapping technologies help optimize agriculture operations, monitor crop growth and enhance the overall production. Also, large-sized drones with weight carrying capacity are used in planting and spraying applications.

Drones evolved as a vital piece of farm automation and robotic technologies owing to their potential benefits in traditional farm practices and advanced monitoring applications.

Agricultural drones find scope in conventional agricultural applications such as chemical spraying, harvesting, soil management, and weed plucking. The fast and precise performance of drones has driven their use in these activities.

Beyond these applications, drones are also used in advanced farm applications such as crop health and growth monitoring, pest identification, yield monitoring, and soil moisture monitoring.

The wide array of sensors, including temperature sensors, multispectral cameras, and LiDAR sensors, are integrated with the mechanical payload for its flight control. These sensors gather real-time information about the weather, soil, crop health, and pest growth.

The global agricultural drones market valued at USD 1,264.51 million in 2018 and is estimated to reach USD 6,270.11 million by 2026, growing at a CAGR of 22.58% during 2019-2026

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