Overview and Scope
The unmanned commercial aerial vehicles refer to miniature pilotless vehicles, controlled to carry small payloads, perform delivery and minor services, and conduct commercial inspections and operations such as photography and videography.
Sizing and Forecast
The unmanned commercial aerial vehicle market size has grown exponentially in recent years. It will grow from <b>$17.96 billion in 2023 to $21.77 billion in 2024 at a compound annual growth rate (CAGR) of 21.2%. </b> The growth in the historic period can be attributed to military applications, cost efficiency, agricultural and environmental monitoring, search and rescue operations.
The unmanned commercial aerial vehicle market size is expected to see rapid growth in the next few years. It will grow to <b>$36.22 billion in 2028 at a compound annual growth rate (CAGR) of 13.6%. </b> The growth in the forecast period can be attributed to commercial delivery services, infrastructure inspection, surveillance and security, remote sensing and data collection, urban air mobility (uam). Major trends in the forecast period include autonomous operation, vertical takeoff and landing (vtol) ucavs, regulatory frameworks, hybrid and electric propulsion, urban airspace integration.
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Segmentation & Regional Insights
The unmanned commercial aerial vehicle market covered in this report is segmented –
1) By Segment: Fixed-Wing UAVs, Multi-Rotor Aerial Vehicles, Rotary Blade Type UAV
2) By Mode Of Operation: Remotelly Piloted, Optionally Piloted, Fully Autonomous
3) By End-User: Agriculture, Energy, Public utilities, Construction, Media and Entertainment, Government, Others
<b>Asia-Pacific</b> was the largest region in unmanned commercial aerial vehicle market in 2023. <b>North America</b> is expected to be the fastest-growing region in the unmanned commercial aerial vehicle market during the forecast period. The regions covered in the unmanned commercial aerial vehicle market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
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Major Driver Impacting Market Growth
Increasing applications of unmanned aerial vehicles (UAVs) in the commercial sectors have contributed to the growth of the unmanned commercial aerial vehicle market. Faster delivery of goods and increasing transportation of products such as small packages, food, medical supplies, and others have 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 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. Drone data aids in 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 vehicle market growth.
Key Industry Players
Major companies operating in the unmanned commercial aerial vehicle market include <b>AeroVironment Inc., BAE Systems plc, SZ DJI Technology Co. Ltd. (DJI), Elbit Systems Ltd., General Atomics Aeronautical Systems Inc., Israel Aerospace Industries Ltd. (IAI), Lockheed Martin Corporation, Northrop Grumman Corporation, Parrot SA, Textron Inc., The Boeing Company, 3D Robotics Inc., Science Applications International Corporation (SAIC), Denel Dynamics (Pty) Ltd, Ambarella Inc., Aurora Flight Sciences a Boeing Company, Challis Heliplane Uav Inc, Draganfly Inc., General Dynamics Corporation, Aerospace Industry, Prox Dynamics AS (Prox Dynamics was acquired by FLIR Systems), Thales Group, Turkish Aerospace Industries Inc. (TAI), PrecisionHawk Inc., Aeryon Labs Inc., Yamaha Motor Co. Ltd., Ascending Technologies, ZeroTech Robotics, Vision Aerial, Volansi Inc., WiBotic Inc., Wing, Xer Technologies, Yuneec International Co. Ltd.</b>
The unmanned commercial aerial vehicle market report table of contents includes:
1. Executive Summary
2. Unmanned Commercial Aerial Vehicle Market Characteristics
3. Unmanned Commercial Aerial Vehicle Market Trends And Strategies
4. Unmanned Commercial Aerial Vehicle Market – Macro Economic Scenario
5. Global Unmanned Commercial Aerial Vehicle Market Size and Growth
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26. South America Unmanned Commercial Aerial Vehicle Market
27. Brazil Unmanned Commercial Aerial Vehicle Market
28. Middle East Unmanned Commercial Aerial Vehicle Market
29. Africa Unmanned Commercial Aerial Vehicle Market
30. Unmanned Commercial Aerial Vehicle Market Competitive Landscape And Company Profiles
Top Major Players:
- AeroVironment Inc
- BAE Systems PLC
- SZ DJI Technology Co. Ltd. (DJI)
- Elbit Systems Ltd
- General Atomics Aeronautical Systems Inc
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