Unmanned Commercial Aerial Vehicle Market Is Driven By Increasing Applications In Various Industries
The Business Research Company's Unmanned Commercial Aerial Vehicle Global Market Report 2021: COVID-19 Growth And Change To 2030 states use of UAVs in Agriculture, Mining, Security and Law Enforcement, Journalism, and Media & Entertainment
Increasing applications of unmanned aerial vehicles (UAVs) in the commercial sector contributed to the growth of unmanned commercial aerial vehicle market. Faster delivery of goods and increasing transportation of products such as small packages, food, medical supplies, and others has great significance in the commercial sector. The commercial usage of UAVs in various industries such as agriculture, mining, security and law enforcement, journalism, and media & entertainment for various tasks such as surveys, maintenance operations, long-range sensing, aerial photography, inspecting of damaged assets, monitoring crops, collecting soil data and other high risk and dangerous operations. For instance, an agriculture drone, which is a UAV, empowers the farmer to adapt to specific environments and make mindful choices. The gained data from drones helps regulate crop health, crop treatment, crop scouting, soil analysis, and crop damage assessments. Increased applications in diverse fields with extraordinary advantages drive the unmanned commercial aerial vehicles market.
The market consists of sales of unmanned commercial aerial vehicles, which are miniature pilotless aircrafts including remotely piloted aerial vehicles and unpiloted aerial vehicles, controlled to carry small payloads, perform delivery and minor services, commercial inspections and operations such as photography and videography. The market consists of revenue generated by the companies manufacturing the unmanned commercial aerial vehicles by the sales of these products.
Major players covered in the global unmanned commercial aerial vehicle industry are AeroVironment Inc., BAE Systems, DJI, Elbit Systems, General Atomics, Israel Aerospace Industries, Lockheed Martin Corporation, Northrop Grumman, Parrot SA, Textron Inc., The Boeing Company, 3D Robotics, SAIC, Denel Dynamics, Textron Inc, Ambarella, Aurora Flight, Challis Heliplane Uav Inc, Draganflyer, General Dynamic Corporation, Aerospace Industry, Prox Dynamic A, Thales Group, Turkish Aerospace Industry Inc, PrecisionHawk Inc, Aeryon Labs Inc., YAMAHA, Da-Jiang, AscTec, IAI, Zerotech.
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The global unmanned commercial aerial vehicle market is expected grow from $1.42 billion in 2020 to $1.73 billion in 2021 at a compound annual growth rate (CAGR) of 21.8%. The growth is mainly due to the companies resuming their operations and adapting to the new normal while recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The market is expected to reach $3.48 billion in 2025 at a CAGR of 19%.
The unmanned commercial aerial vehicle market covered in this report is categorized by segment into fixed-wing UAVs, multi-rotor aerial vehicles, rotary blade type UAVs, by end-user into agriculture, energy, public utilities, construction, media and entertainment, government, others, and by mode of operation into remotely piloted, optionally piloted, fully autonomous.
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Unmanned Commercial Aerial Vehicle Global Market Report 2021: COVID-19 Growth And Change To 2030 is one of a series of new reports from The Business Research Company that provides unmanned commercial aerial vehicle market overview, forecast unmanned commercial aerial vehicle market size and growth for the whole market, unmanned commercial aerial vehicle market segments, and geographies, unmanned commercial aerial vehicle market trends, unmanned commercial aerial vehicle market drivers, restraints, leading competitors' revenues, profiles, and market shares.
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