The growth of this market is foreseen to be driven by the rising demand of VTOL UAVs in civil & commercial sector coupled with the rising usage of the system for surveillance and monitoring purpose in the military sector. Moreover, the rising need for 3D mapping, oil & gas pipeline inspection, recreational activities, safety, and surveillance is further adding impetus growth to the market. Furthermore, technological advancement in such a system is expected to offer new opportunity growth in the market.
As per the recent report added by Value Market Research, the Global VTOL UAV Market was valued USD 3,155.4 MN (by revenue) in 2017 and is anticipated to reach USD 10,160.3 MN by 2024 with a CAGR of 18.1%.
MULTI-COPTER IS LEADING THE MARKET
Multi-copter is a most popular type of drone among UAVs. This is the ideal choice for aerial photography, filmmaking, and surveillance. It is mostly used by professionals and hobbyists because of its small size and ready to fly out of the box capabilities. By the end of 2024, the segment is expected to touch USD XX.X MN
THE MILITARY SEGMENT IS DOMINATING THE MARKET
The military has dominated the segment in 2017 and is expected to reach USD XX.X MN by 2024. Technically, VTOL UAV systems are designed to perform mission’s task in the military such as surveillance, target acquisition and reconnaissance (ISTAR), search and rescue, port and coastal protection, force protection, and battlefield management. Also, they are capable of operating day or night in harsh weather conditions. Therefore, owing to the rising concern over protection and security along with the increasing expenditure in the military sector in terms of security is expected to fuel the demand for UAV in the military.
RECONNAISSANCE AND SURVEILLANCE APPLICATIONS HELP SMALL UAVS TO GAIN HYPE IN THE MARKET
Small UAVs are lightweight, hand-launched, portable systems that operate at low speeds and altitudes. Growing demand for small UAV's from reconnaissance and surveillance applications is likely to fuel the segment growth. As per the analysis, the segment is expected to touch USD XX.X MN by end of 2024.
ISR PAYLOAD FEATURE IS INCREASINGLY BEING USED IN HOMELAND SECURITY
ISR is leading the payload segment since it is an important part of unmanned aerial vehicles. Intelligence, surveillance, reconnaissance (ISR) is increasingly being used in military and homeland security. Growing adoption of unmanned vehicles with ISR payload for long-duration missions where real-time data collection is essential is expected to drive the growth. The segment is expected to reach USD XX.X MN by end of 2024.
INCREASING INVESTMENT IN MILITARY SECTOR HELPS NORTH AMERICA TO GAIN THE HIGHEST SHARE IN GLOBAL VTOL UAV MARKET
VTOL UAV market is dominating by North America since it is one of the biggest spenders on the military. Moreover, increasing usage of commercial drones for monitoring and surveying applications along with the growing concerns of terrorism and security are expected to raise the demand of drones in this region. North America is projected to touch USD XX.X MN by 2024.
COMPETITIVE INSIGHT
DJI Company, Lockheed Martin Corporation, Israel Aerospace Industries Limited, Parrot SA, and Northrop Grumman Corporation.
As per this study the Global VTOL UAV Market was valued USD 8.7 MN (by revenue) in 2021 and is anticipated to reach USD 27.99 MN by 2028 with a CAGR of 18.17%.
Unmanned Air Vehicles (UAVs) commonly known as a drone, is an aircraft without a pilot abroad. Over the years, they have been extensively used in many areas, such as agriculture, forestry, surveillance, rescue operations, security, aerial photographing, and so on. The VTOL (Vertical Takeoff and Landing) is a next-generation aircraft platform that can hover, take off, and land vertically. This classification includes a variety of aircraft, fixed-wing aircraft as well as helicopters and other aircraft with powered rotors, such as cyclogyros/cyclocopters and tiltrotors. Conventionally, they are preferred for military operations which include missions, tracking, surveillance, and active engagement with weapons and airborne data acquisition.
Market Dynamics
The global VTOL UAV market is projected to witness a high growth in the years to come. The growth of this market is foreseen to be driven by the rising demand of VTOL UAVs in civil & commercial sector coupled with the technological innovation. Additionally, the growing demand for 3D mapping, oil & gas pipeline inspection, recreational activities, safety, and surveillance is further adding impetus growth to the market.
This detailed market study is centered on the data obtained from multiple sources and is analyzed using numerous tools including porter's five forces analysis, market attractiveness analysis and value chain analysis. These tools are employed to gain insights of the potential value of the market facilitating the business strategists with the latest growth opportunities. Additionally, these tools also provide a detailed analysis of each application/product segment in the global market of VTOL UAV.
Market Segmentation
The broad VTOL UAV market has been sub-grouped into type, application, size, and payload. The report studies these subsets with respect to the geographical segmentation. The strategists can gain a detailed insight and devise appropriate strategies to target specific market. This detail will lead to a focused approach leading to identification of better opportunities.
By Type
- Helicopter
- Multicopter
- Hybrid
By Applications
- Military
- Homeland Security
- Civil & Commercial
By Size
By Payload
- Intelligence, Surveillance and Reconnaissance (ISR)
- Cameras
- Telemetry
- Sensors
- Autopilot
Regional Analysis
Furthermore, the report comprises of the geographical segmentation which mainly focuses on current and forecast demand for VTOL UAV in North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. The report further focuses on demand for individual application segments in all the regions.
Global VTOL UAV Market Share by Region (Representative Graph)
The report also covers detailed competitive landscape including company profiles of key players operating in the global market. The key players in the VTOL UAV market include DJI Company, Israel Aerospace Industries Limited, Lockheed Martin Corporation, Parrot SA and Northrop Grumman Corporation. An in-depth view of the competitive outlook includes future capacities, key mergers & acquisitions, financial overview, partnerships, collaborations, new product launches, new product developments and other developments with information in terms of H.Q.
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