Ottawa, Aug. 09, 2024 (GLOBE NEWSWIRE) -- The global unmanned aerial vehicle (UAV) drones market size is predicted to increase from USD 31.66 billion in 2023 to approximately USD 169.7 billion by 2033. The market is projected to grow at a solid CAGR of 18.2% between 2024 and 2033.
The various applications in entertainment, delivery, monitoring, educational initiatives, and so on boost the growth of the unmanned aerial vehicle (UAV) drones market.
The unmanned aerial vehicle (UAV) drones market deals with photography, videography, surveillance, delivery, entertainment, environmental monitoring, disaster relief, and educational initiatives. Unmanned aerial vehicles (UAVs) drones are increasingly used in various applications, including military operations, disaster relief, and exploration. Multi-UAV systems are crucial for mission planning due to their efficiency and reliability. These systems can tackle complex scenarios, making them faster, more efficient, and more reliable than single-UAV systems.
Multi-UAV planning should focus on productivity enhancement and vehicle safety, ensuring autonomous, effective, and safe operations in real-world environments. The market is expanding due to rapid technological advancements, increased demand for drone-generated data in commercial applications, and increased venture capital funding.
The Complete Study is Immediately Accessible | Download the Sample Pages of this Report@ https://www.precedenceresearch.com/sample/1551
Unmanned Aerial Vehicle (UAV) Drones Market Highlights
- North America dominated the market with the largest revenue share of 37% in 2023.
- Asia-Pacific is expected to grow at the fastest CAGR during the forecast period.
- By type, the vertical take-off and landing (VTOL) segment led the market in 2023.
- By type, the medium altitude long endurance (MALE) segment is expected to expand at the fastest CAGR from 2024 to 2033.
- By payload, the up to 150 kg segment has held a major revenue share in 2023.
- By payload, the up to 600kg segment is expected to grow at the fastest rate.
- By component, the camera segment dominated the market in 2023
- By component, the sensors segment is projected to grow at the fastest rate during the forecast period.
- By application, the media and entertainment segment has contributed the biggest revenue share in 2023.
- By application, the precision agriculture segment is expected to grow at the fastest rate.
Unmanned Aerial Vehicle (UAV) Drones Market Top 10 Companies
- General Atomics Aeronautical Systems
- Xiaomi
- Lockheed Martin
- Israel Aerospace Industries
- BAE Systems
- ALCORE Technologies
- Nimbus
- VTOL Technologies
- PrecisionHawk
- ING Robotic Aviation
Recent Developments:
- In March 2024, the study discussed the use of pressure sensors to enhance the speed and altitude of unmanned aerial vehicles (UAVs), which are essential components of a complex unmanned aircraft system, which includes a ground-based controller and a communication mechanism for interaction.
- In March 2024, Indian drone company IdeaForge plans to enter the "logistics at scale" segment by developing unmanned aerial vehicles (UAVs) capable of carrying up to 100 kg and reaching distances of up to 100 km. The company has set up a US subsidiary to showcase its products.
- In March 2024, Algeria bought four modern WJ-700 Falcon unmanned aerial vehicles (UAVs) from China Aerospace Science and Industry Corp, which will significantly improve Algeria's surveillance and combat capabilities.
- In January 2024, the Indian Navy acquired its first domestic medium-altitude long-endurance drone, the Drishti 10 Starliner UAV, which will improve its reconnaissance, intelligence-gathering, and surveillance capabilities in the Indian Ocean.
You can place an order or ask any questions, please feel free to contact at sales@precedenceresearch.com | +1 650 460 3308
Unmanned Aerial Vehicle (UAV) Drones Market Segments Outlook
Regional Outlook
North America led the unmanned aerial vehicle (UAV) drones market in 2023.
Technology advancements in Canada, Mexico, and the United States drive the North American drone market. The market is expected to grow with a combination of small and medium-sized businesses, drone software, and hardware sectors. The region's top ranks in size, GDP, and population highlight its ability to use drones for a variety of reasons, including servicing heavily populated areas and accessing distant locations.
American businesses and government agencies are utilizing drone technology to enhance competitiveness, reduce costs, and enhance safety. Promoting safe integration of UAS into national airspace through initiatives like the FAA Pathfinder Program and FAA Safety Team. With forward-leaning regulations, the American drone industry can lead global integration.
Asia-Pacific is expected to grow at the fastest rate. The Asia drone industry's rapid expansion is boosting economic growth and job creation in the manufacturing, logistics, and infrastructure maintenance sectors. It streamlines logistics, facilitates precision agriculture, enables faster infrastructure inspection, and supports disaster management. Countries like China and South Korea are among the top countries with the largest number of military drones. India is also taking initiatives to utilize drones for better efficiency and results.
- For instance, according to the World Economic Forum, India started the world’s largest drone-led property rights initiative. The mapping of 660,000 villages will be done with the help of innovative drone technology.
Unmanned Aerial Vehicle (UAV) Drones Market Report Coverage
| Report Attribute | Key Statistics |
| UAV Drones Market Size in 2023 | USD 31.66 Billion |
| UAV Drones Market Size in 2024 | USD 37.68 Billion |
| UAV Drones Market Size by 2033 | USD 169.7 Billion |
| Growth Rate from 2024 to 2033 | CAGR of 18.2% |
| Base Year | 2023 |
| Historical Year | 2021-2022 |
| Forecast Period | 2024 to 2033 |
| Largest Market | North America |
| Segments Covered | Type, Application, Component, Payload and Regions |
| Regions Covered | North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa |
Unlock the potential for future growth by requesting your personalized custom report Now! https://www.precedenceresearch.com/customization/1551
Type Outlook
The vertical take-off and landing (VTOL) segment dominated the unmanned aerial vehicle (UAV) drones market in 2023. Vertical Take-off and Landing (VTOL) vehicles are transforming urban mobility and transportation by providing advantages for the environment, energy efficiency, accessibility, noise reduction, emergency medical services, time savings, and the future of aviation. They can operate in crowded cities with limited space for runways, which eases traffic and speeds up travel. Electric propulsion technologies contribute to cleaner, more environmentally friendly transportation solutions.
The medium altitude long endurance (MALE) segment is the fastest growing segment of the unmanned aerial vehicle (UAV) drones market in 2023. The MALE RPAS is a crucial tool for international conflict prevention and crisis management, particularly in the areas of Intelligence, Surveillance, Target Acquisition, and Reconnaissance (ISTAR). For instance, REACH-S is a MALE unmanned aerial vehicle designed to perform precise ground assault missions and enhance intelligence, reconnaissance, and surveillance.
Payload Outlook
The up to 150 kg segment dominated the unmanned aerial vehicle (UAV) drones market in 2023, which can perform various operations such as search rescue, ground force support, traffic surveillance, and intelligence missions. Featherweight drones are typically referred to as nanoscale drones, which weigh as little as 11 grams (0.011 kg) and can only carry payloads ranging from 4 grams to 100 grams (0.004 to 0.1 kg). Featherweight drones are mostly used for military surveillance.
The up to 600 kg segment is expected to grow at the fastest rate during the forecast period. Heavy lift drones are large military drones with payload capacities of over 550 kg, weighing over 160 kg and 1,000 kg, used for delivery and high-precision mapping.
Component Outlook
The camera segment dominated the unmanned aerial vehicle (UAV) drones market in 2023. High-resolution cameras on UAVs can provide valuable data on natural forests for forest restoration initiatives. They are also useful for inspecting power line corridors and detecting broken bolts, rust, corrosion, and lightning strikes on electrical pylons. These issues are often caused by severe weather, bushfires, and tree falls, making UAVs a practical tool for preserving forest landscapes.
The sensors segment is expected to grow at the fastest rate during the forecast period. Thermal infrared sensors are used for island and hazardous area tracking, urban heat monitoring, and detection of forest fires. Hyperspectral sensors provide accurate image analysis and classification. Light detection and ranging (LiDAR) offers high resolution and accuracy for spatial classification. GPS technology is used for timing, mapping, tracking, navigation, and localization. These sensors are essential for various applications, including agriculture, vegetation disease, and environmental monitoring.
Application Outlook
The media and entertainment segment dominated the unmanned aerial vehicle (UAV) drones market in 2023. Drones (RPAS) are an attractive technology for media houses due to their lower operational costs compared to helicopters. They can be used for extensive news gathering and can be used in various media channels, including print, online, and broadcasting. RPAS does not require any human elements, making their job easier and less dangerous. They can reach places not physically accessible, such as fire incidents or disaster news. The flexibility of RPAS allows journalists to customize their equipment.
The precision agriculture segment is expected to grow at the fastest rate during the forecast period. UAVs are a key automation tool in precision agriculture due to their flexibility, ease of control, adaptability to complex terrain, and efficiency. They offer advantages in air spraying, sowing, remote sensing detection, and information collection.
Unmanned Aerial Vehicle (UAV) Drones Market Dynamics
Driver: Growing applications
The unmanned aerial vehicle (UAV) drones market is critical for disaster management, remote sensing, search and rescue (SAR), infrastructure and construction inspection, precision agriculture, and real-time road traffic monitoring. UAVs are increasingly utilized in various applications such as automated forest restoration, power line inspection, plant stress monitoring, space exploration, aquaculture farm monitoring, and planetary exploration.
Automated forest restoration involves infrastructure tasks, power line inspection to detect defects, and aquaculture farm monitoring, which reduces costs and labor while ensuring fish stability. They can go to dangerous disaster areas, help collect data, and help with catastrophe assessments and alarms. UAVs gather high-resolution imaging data for illness detection, water quality testing, and hunger monitoring. They conserve time and costs by providing real-time imaging data and vital medical equipment. UAVs can potentially transform the transportation industry by automating rescue crews and traffic enforcers and delivering early warnings.
Restraint: Regulatory challenges
Despite the widespread use of UAVs, the unmanned aerial vehicle (UAV) drones market faces challenges in regulatory concerns. There is a need for regulatory bodies to establish standardizations for their operations across different countries. The lack of significant standards and regulations for UAV operations, such as airspace, weight, size, height, privacy, and safety requirements, hinders their widespread use. The implementation of these regulations is crucial for commercial airplane navigation.
Countries should establish regulations for proper UAV operations, such as the FAA in the US issuing certificates and air traffic regulations. International collaboration can also help introduce global rules. Concerns include poorly documented legal processes and delays in flight approvals, limiting the technology's widespread use and flexibility. AI algorithms can help address these issues, enabling AI-empowered UAVs to be authorized for domestic use in various countries and meeting their specific operational regulations.
Browse More Insights:
- Small UAV Market: The global small UAV market size was valued at US$ 4 billion in 2021 and is predicted to surpass around US$ 11.32 billion by 2027, poised to grow at a CAGR of 18.89% during the forecast period.
- Medical Drones Market: The global medical drones market size was estimated at USD 217.3 million in 2021 and is expected to hit around USD 727.88 million by 2030, poised to grow at a CAGR of 12.9% from 2023 to 2032.
- Unmanned Ground Vehicles Market: The global unmanned ground vehicles market size was USD 3.29 billion in 2023, accounted for USD 3.60 billion in 2024, and is expected to reach around USD 8.14 billion by 2033, expanding at a CAGR of 9.5% from 2024 to 2033.
- Agricultural Drones Market: The global agricultural drone market size was exhibited at USD 1.1 billion in 2022 and is projected to hit around USD 7.19 billion by 2032, growing at a CAGR of 20.7% during the forecast period 2023 to 2032.
- Unmanned Traffic Management Market: The global unmanned traffic management market size was valued at USD 1.43 billion in 2023 and is anticipated to reach around USD 9.97 billion by 2033, growing at a CAGR of 21.42% from 2024 to 2033.
- Military Drones Market: The global military drones market size was estimated at USD 13.42 billion in 2022 and is projected to hit around USD 28.84 billion by 2032, poised to grow at a CAGR of 7.95% from 2023 to 2032.
- Vehicle Electrification Market: The global vehicle electrification market size was estimated at USD 101.82 billion in 2023 and it is expected to reach around USD 271.2 billion by 2032, expanding at a registered CAGR of 11.5% from 2023 to 2032.
- Solar Powered Drones Market: The global solar powered drones market size was USD 1.03 billion in 2023, calculated at USD 1.18 billion in 2024 and is expected to reach around USD 3.86 billion by 2033, expanding at a CAGR of 14.12% from 2024 to 2033.
- Autonomous Vehicle Market: The global autonomous vehicle market size was estimated USD 158.31 billion in 2023 and is projected to hit around USD 2,752.80 billion by 2033, poised to grow at a CAGR of 33% from 2024 to 2033.
- Aerial Work Platforms Market: The global aerial work platforms market size was estimated at USD 12.22 billion in 2023, and it is expected to be worth around USD 29.90 billion by 2033 with a CAGR of 9.3% from 2024 to 2033.
- Automated Guided Vehicle Market: The global automated guided vehicle market size was estimated at USD 4.33 billion in 2022 and is expected to garner around USD 12.57 billion by 2032 with a registered CAGR of 11.30% from 2023 to 2032.
Opportunity: UAV-based Internet of Vehicles
The Internet of Things (IoT) system connects everything to the Internet, with the Internet of Automobiles (IoV) serving as a subsystem that connects automobiles and smart devices via data generation, transport, and processing. IoV seeks to minimize road congestion, transit time, pollution, and accidents by offering media playing, file-sharing, satisfaction, security, and privacy to cars and users. It is a decentralized system that addresses smart cities on a big scale, providing communication tools amongst nodes by merging various technologies. IoV is an Internet-enabled, flexible network derived from vehicular ad-hoc networks (VANETs) that uses drones to improve information propagation speed and real-time application support.
Combining IoV and UAVs can provide benefits such as line-of-sight connectivity, load balancing, flexibility, and cost efficiency. A UAV-based Internet of Vehicles (IoV) network aims to simplify data transmission services for land users by integrating computing and communication technologies. It addresses various network challenges such as packet forwarding, routing, monitoring, traffic jam control, data traffic control, congestion control, and crash detection. UAV-based IoV networks use cellular network communication protocols to ensure quality of service (QoS) applications. Evaluation factors include accuracy, bandwidth, outage probability, delay, signal-to-noise ratio, energy consumption, execution time, throughput, and packet delivery ratio. These factors help ensure on-time delivery and minimize delays in communication.
Market Segmentation
By Type
- Fixed Wing Drone
- Rotary Blade Drone
- Hybrid Drone
- VTOL
- Small Tactical Unmanned Air System
- Medium Altitude Long Endurance
- High-altitude Long Endurance
By Payload
- Up to 150 KG
- Up to 600 Kg
By Component
- Camera
- Sensors
By Application
- Media and Entertainment
- Precision Agriculture
By Geography
- North America
- U.S.
- Canada
- Europe
- U.K.
- Germany
- France
- Asia-Pacific
- China
- India
- Japan
- South Korea
- Malaysia
- Philippines
- Latin America
- Brazil
- Rest of Latin America
- Middle East & Africa (MEA)
- GCC
- North Africa
- South Africa
- Rest of the Middle East & Africa
Immediate Delivery Available | Buy This Premium Research Report@ https://www.precedenceresearch.com/checkout/1551
You can place an order or ask any questions, please feel free to contact at sales@precedenceresearch.com | +1 650 460 3308
Unlocking Market Insights through Data Excellence
The "Precedence Statistics" flexible dashboard is a powerful tool that offers real-time news updates, economic and market forecasts, and customizable reports. It can be configured to support a wide range of analysis styles and strategic planning needs. This tool empowers users to stay informed and make data-driven decisions in various scenarios, making it a valuable asset for businesses and professionals looking to stay ahead in today's dynamic and data-driven world.
To Access our Premium Real-Time Data Intelligence Tool, Visit: http://www.precedencestatistics.com
About Us
Precedence Research is a worldwide market research and consulting organization. We give an unmatched nature of offering to our customers present all around the globe across industry verticals. Precedence Research has expertise in giving deep-dive market insight along with market intelligence to our customers spread crosswise over various undertakings. We are obliged to serve our different client base present over the enterprises of medicinal services, healthcare, innovation, next-gen technologies, semi-conductors, chemicals, automotive, and aerospace & defense, among different ventures present globally.
Web: https://www.precedenceresearch.com
Our Blogs:
https://www.towardshealthcare.com
https://www.towardspackaging.com
For Latest Update Follow Us:
