"The global unmanned aerial vehicle (UAV) market value is projected to reach $48.75 billion by 2025, reveals the premium market intelligence study. The study also highlights that the market value is set to witness a CAGR of 13.27% between 2020 and 2025.
The comprehensive study of the global UAV market extensively covers the following:
Besides these parameters, the study also encompasses market growth drivers, opportunities, market restraining factors, competition mapping and segmental analysis. The market is further segmented by end-user and type across all the region.
This study indicates that the global UAV market is expected to witness a high growth rate during the forecast period 2020-2025. The growth is attributed to the growing usage of drones for inspection, surveying, transport and logistics, and agricultural spraying, among others. Some of the drones provide surveillance and monitoring services to military, homeland security, and law enforcement applications, which are fueling the growth of the market.
To gain a holistic view of the market, data from different segments of the market has been analyzed minutely. These segments include application, class, end-user, component, and region. Each of these segments is further categorized into sub-segments and micro-segments to compile an in-depth study.
Nilopal Ojha, Lead Analyst states, "" There are numerous opportunities for the growth of the UAV market for several application areas such as drone delivery, mapping, surveillance, product delivery, natural disaster management, firefighting, and others. Various leading manufacturers such as DJI and Parrot are investing extensive amounts in R&D of UAVs to develop new applications for UAVs. The key emerging applications in the UAV market are hobbyist applications such as photography, film shooting, and event shooting. Such applications are providing opportunity to several stakeholders from consumer and commercial end users of the market.”
Key insights are drawn from in-depth interviews with the key opinion leaders of more than 20 leading companies, market participants, and vendors. The key players profiled in the report include Aerovironment Inc., Airbus S.A.S, BAE Systems, Boeing, ECA Group, Ehang, Elbit Systems Ltd, DJI, Lockheed Martin, Northrop Grumman, Thales Group, Israel Aerospace Industries Limited, General Atomics, FLIR System and General Dynamics Corporation among others.
The study also offers strategic recommendations that can help organizations in tracking various products, trends, and technologies that are changing the dynamics of the market. The recommendations also offer bespoke research services to help organizations meet their objectives.
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Source: ASDReports - Market Research
Date: Jan 11, 2021