New York, USA, Aug. 23, 2022 (GLOBE NEWSWIRE) -- According to the report published by Research Dive, the global UAV drones market is projected to surpass a revenue of $102,466.7 million and grow at 19.6% CAGR during the forecast period from 2022-2030. The extensive report provides a concise layout of the market’s current framework including prime aspects of the market such as growth elements, challenges, restraints and various opportunities during the predicted timeframe of 2022-2030. The report also provides all the market figures to help new participants analyze the market easily.
Dynamics of the UAV Drones Market
Drivers: The surging demand for UAV drones from disaster management teams to get a real-time understanding of the extent of damaged area along with the state of logistics and transportation is the prime factor to drive the growth of the global UAV drones market during the forecast years. Moreover, the demand for such drones by rescue teams to get the location of trapped and stranded survivors is also predicted to boost the market growth by 2030.
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Opportunities: Changes in the government policies and an increase in the number of exceptions granted to the industries for the commercial use of UAV drones are major factors to offer abundant growth opportunities for the global UAV drones market during the analysis timeframe. Additionally, relaxations to use these drones for unmanned aircraft systems is also estimated to augment the market development by 2030.
Restraints: Ensuring safety and efficiency of UAV drones is the major challenging factor for the market growth.
Covid-19 Impact on the UAV Drones Market
The outbreak of the devastating covid-19 pandemic has had a negative impact on the global UAV drones market due to declined demand from end-use industries. Government-implied curbs on non-essential industrial activities also led to the market’s downfall. However, several market players are investing in the drone technology to perform commercial applications in the military industry which is one of the major factors anticipated to revive the market growth in the upcoming years. Furthermore, continuous technological advancements are also expected to offer new avenues for the adoption of UAV drones in other end-use industries.
Segments of the UAV Drones Market
According to the report, the global UAV drones market is fragmented into multiple segments based on product type, end-use, end-use industry, and regional analysis.
Product Type: Fixed-wing Sub-segment to be Most Dominant
The fixed-wing sub-segment is predicted to hold a dominant market share and register a revenue of $72,052.9 million during the analysis timeframe. This immense growth is attributed to the extensive utilization of fixed-wing drones for longer durations.
End-use: Military & Defense Sub-segment to be Highly Beneficial
The military & defense sub-segment of the global UAV drones market is projected to have the highest growth rate and generate a revenue of $65,298.5 million during the forecast period. This immense growth is due to the increasing use of drones in the military sector for performing operations across the border lines.
End-use Industry: Consumer Sub-segment to be Highly Lucrative
The consumer sub-segment is estimated to have a prominent growth rate and garner a revenue of $19,953.4 million by 2030 due to growing adoption of drones by consumers for various uses. Moreover, increasing usage of drones in the military sector to ensure that laws and rules are being followed by people is also anticipated to bolster the sub-segment’s growth.
Region: Market in the North America Region to Witness Better Growth Opportunities
By regional analysis, the UAV drones market in the North America region is expected to witness immense growth opportunities and grow at 16.8% CAGR by 2030 due to increasing adoption of drones in the commercial industry for various operations like delivering products to the customers at their respective locations. Additionally, the existence of multiple key drones manufacturing companies and their intensive R&D activities are some other factors to propel the market growth in the North America region by 2030.
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Key UAV Drones Market Players
Some key UAV drones market players are
- General Atomics
- Northrop Grumman
- Textron Inc.
- Boeing
- DJI
- Parrot Drone SAS
- 3D Robotics Inc.
- Aeryon Labs Inc.
- Aerovironment, Inc.
- Thales, among others.
These key players are undertaking various strategies such as product development and enhancement, merger and acquisition, partnerships and collaborations to sustain the market growth. – Buy the Full Report Here!
For example, in July 2022, Thales Defense & Security Inc., a renowned aerospace and defense company, announced its acquisition of Advanced Acoustic Concepts (AAC), a leading provider of weapons, sensors, integrated systems, etc., to boost its engineering and industrial footprint in the US defense sector.
The report also summarizes many important facets including financial performance of the key market players, SWOT analysis, product portfolio, and the latest strategic developments.
More about UAV Drones Market:
- UAV Drones Market to Observe Significant Growth Due to Technological Advancements and Product Launches by Market Players, such as Aevum, Zala Aero Group, and Others
- UAV Drones: The Future of Emergency Healthcare Services
- 8 Key Areas Other than Military Sector Where UAV Drones Are Widely Used
