Dublin, July 27, 2021 (GLOBE NEWSWIRE) -- The "Global Unmanned Aerial Vehicle Market By Class (Small UAV, Tactical UAV, Strategic UAV and Special Purpose UAV), By Type, By Energy Source, By Mode of Operation, By Range, By MTOW, By End User Industry, By Company, By Region, Forecast & Opportunities, 2026" report has been added to ResearchAndMarkets.com's offering.
The Global Unmanned Aerial Vehicle Market is expected to grow at a formidable rate of around 18% during the forecast period.
The Global Unmanned Aerial Vehicle Market is driven by the increasing use of unmanned aerial vehicles across various end-user industries such as defense & security, agriculture, retail, media & entertainment, among others.
Additionally, increasing defense spending by the various governments across the globe and growing terrorist activities is further expected to positively influence the market growth during the forecast period. Furthermore, associated advantages with the UAVs such as small & compact size, ease of use, affordability, visual superiority, among others are anticipated to fuel the market growth.
Moreover, technological advancements and incorporation of technologies such as AI, LiDAR, among others in the unmanned aerial vehicles is expected to create lucrative opportunities for the market growth over the next few years. However, strict air space regulations can hamper the market growth during the forecast period. Also, air traffic management issues can further impede the market growth.
The Global Unmanned Aerial Vehicle Market is segmented based on class, type, energy source, mode of operation, range, MTOW, end-user industry, company and region. Based on class, the market can be categorized into small UAV, tactical UAV, strategic UAV and special purpose UAV.
The small UAV segment is expected to dominate the market owing to the increasing demand for these UAVs from the defense sector for use in surveillance and scouting. Additionally, increasing use of these UAVs in various commercial applications such as precision agriculture, photography, delivery, among others is further expected to drive the segmental growth.
Based on range, the market can be fragmented into visual line of sight (VLOS), extended visual line of sight (EVLOS) and beyond line of sight (BLOS). The BLOS segment is expected to dominate the market on account of the increasing use of UAVs in commercial and consumer applications.
North America is expected to dominate the significant growth in the overall unmanned aerial vehicle market owing to the widespread use of unmanned aerial vehicles in border and maritime security and surveillance activities especially in the countries like U.S. and Canada.
The major players operating in the Global Unmanned Aerial Vehicle Market are NVIDIA Corporation, Alphabet Inc., Intel Corporation, IBM Corporation, Microsoft Corporation, Harman International Industries Inc., Xilinx Inc., Qualcomm Inc., Tesla Inc., Volvo Car Corporation and others.
Major companies are developing advanced technologies and launching new products in order to stay competitive in the market. Other competitive strategies include mergers & acquisitions and new product developments.
Years considered for this report:
Historical Years: 2016-2019
Base Year: 2020
Estimated Year: 2021
Forecast Period: 2022-2026
Global Unmanned Aerial Vehicle Market, By Class:
Special Purpose UAV
Global Unmanned Aerial Vehicle Market, By Type:
Fixed-wing VTOL UAVs
Global Unmanned Aerial Vehicle Market, By Energy Source:
Global Unmanned Aerial Vehicle Market, By Mode of Operation:
Global Unmanned Aerial Vehicle Market, By Range:
Visual Line of Sight (VLOS)
Extended Visual Line of Sight (EVLOS)
Beyond Line of Sight (BLOS)
Global Unmanned Aerial Vehicle Market, By MTOW:
< 25 Kilograms
Global Unmanned Aerial Vehicle Market, By End-User Industry:
Defense & Security
Logistics & Transportation
Energy & Power
Construction & Mining
Media & Entertainment
Wildlife & Forestry
Academics & Research
Global Unmanned Aerial Vehicle Market, By Region:
Middle East & Africa
Harman International Industries Inc.
Volvo Car Corporation
For more information about this report visit https://www.researchandmarkets.com/r/e3jkpk
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