Unmanned Aerial Vehicle (uav) Market to Reach Valuation of USD 52.3 Billion by 2030 – Growth in The Sector of Mining, Oil and Gas, Construction, and Agriculture Drives the Market

In terms of revenue, the Global Unmanned Aerial Vehicle (uav) Market is expected to reach a valuation of USD 52.3 Billion by 2030, growing at a CAGR (Compound Annual Growth Rate) of 11.2% from 2023 to 2030.

Unmanned aerial vehicles (UAVs), in general, known as drones, are equipped with internal computers that can be controlled from the ground. Their advanced aerodynamic structures are designed to perform multiple functions with the desired navigation system. Initially, the technology was intended for dangerous military missions to save human lives from risk. Unmanned aerial vehicles, specially designed for military use, are well equipped with missiles that hit fixed targets while flying at high altitudes.

Significant global growth in the construction industry is one of the major factors that will likely drive the growth of the Unmanned Aerial Vehicle (uav) market in the coming years. The construction industry prioritises planning before embarking on major construction and infrastructure projects. Therefore, planning and surveying maps are required to gather complex area information. It requires significant time and money, and manpower to survey and map such large construction sites, while commercial UAVs can do it in seconds and save millions of dollars.

Key Highlights from the Report

• Based on Technology, The fully autonomous technology segment is expected to grow the fastest in the coming period as it offers fully controlled operation without a driver on the ground. The flight planning and command distribution systems help decide the flight distance and route before the operation. They are critical unmanned aerial vehicles and seek visible demand in the military sector.

Remotely piloted unmanned aerial vehicles will capture most of the global Unmanned Aerial Vehicle (uav) market and will likely maintain their share during the analysis. This is mainly due to various UAV products used with remote sensing technology. In addition, remote sensing technology has wider applications in many business sectors to collect important data, such as forest monitoring, agriculture, and aerial mapping.

• Based on Applications, it predicted that the military segment would account for the largest revenue share in the future years as the demand for strategic and tactical UAVs in the military sector increases significantly. In addition, several countries have also increased the acquisition of certain UAVs for special missions, such as the High Altitude Long Endurance (HALE) UAV and the Medium Altitude Long Endurance (MALE) UAV. Therefore, increasing demand for special-purpose UAVs for military operations will fuel the segment’s growth in the coming years.

• In terms of region, North America will probably have rapid growth during the forecast period, owing to the expansion of defence capabilities in countries such as China, India and Japan. The paradigm shift in favour of unmanned systems reflects the general tendency of the military to be equal to the most advanced available technology and perceptions of the emergence of asymmetric warfare

Market Dynamics

The commercial drone sector has flourished with many technological innovations. Miniaturisation and COTS technologies provide affordable products for even the smallest UAVs, resulting in commercial operators acquiring mini and micro UAVs. Vendors primarily offer small UAVs for agriculture, aerial photography, and data collection applications. Full-sized UAVs such as China's CH-4 are also used in geological surveys, ocean monitoring, weather observation, and forest fire prevention missions. Home delivery by drone has become a reality thanks to the efforts of logistics and retail companies like Amazon and UPS to adopt the technology. Since commercial drones can travel at speeds of up to 100 mph and deliver goods weighing less than 2.3 kg, the delivery mechanism is expected to reduce delivery time and associated costs. In preparation for the ground rules that allow delivery drones and other unmanned commercial aircraft to fly, the FAA issued recommendations for managing delivery drones, including requirements that all delivery drones be equipped with tracking devices to enable each delivery. Helicopter detectable. Operators must also provide details of the technology used to track and transmit instructions to the UAVs. Other suggestions include airspace management rules, such as operating altitudes below 2,500 feet, away from airports, sporting events, and landmarks, and a "trusted operator system" that exempts certain commercial drone operators from using watercraft for security and surveillance purposes.

To improve the performance parameters of commercial UAVs, manufacturers adopt alternative power supplies to achieve long flights. In addition, tech giants like Google and Facebook have bought companies like Titan Aerospace and Ascenta to open the door for the development of UAV technologies and create a global network capable of providing internet access in rural areas. Such developments are expected to drive the adoption of UAVs among civil and commercial end users.

The adoption of UAVs in military functioning has encouraged retailers to offer UAVs that can be used in various commercial applications. UAVs are also used in other applications, including internet service in remote areas, aerial photography and video, nature mapping and documentation, and public service missions. Several companies primarily offer small UAVs for agricultural and aerial photography and data collection. In the military, unmanned combat aerial vehicles (UCAVs) are considered a low-cost alternative to combat aircraft. They also cause less collateral damage than missiles launched from manned aircraft or aerial bombardments. However, the growth of the UAV market may be hampered by limited endurance, SWaP and bandwidth challenges, and inconsistent laws and regulations that may limit the use of such systems in the airspace of certain regions.

North America Unmanned Aerial Vehicle (uav) market is expected to witness a notable development with a significant growth rate over the analysis period. The development of domestic unmanned aerial vehicles is likely to increase due to increasing initiatives of domestic aviation platforms, which can significantly boost the North America Unmanned Aerial Vehicle (uav) Market. The increased number of initiatives by OEMs to introduce the UAV industry is expected to increase the adoption of the technology, facilitating the availability of affordable UAVs.

The Global Market is Segmented as follows

• Point of Sale
  • OEM
  • Aftermarket
• System
  • Platform
  • Payload
  • Datalink
  • Ground Control Station
  • Launch & Recovery System
• Platform
  • Civil & Commercial
  • Defense & Government
• Type
  • Fixed Wing
  • Rotary Wing
  • Hybrid
• Application
  • Military
  • Commercial
  • Government & Law
  • Consumer
• Mode of Operation
  • Remotely Piloted
  • Optionally Piloted
  • Fully Autonomous
• End-Use
  • Military
  • Public Safety & Security
  • Agriculture
  • Insurance
  • Energy
  • Mining & Quarrying
  • O&G
  • Transport
  • Logistics & Warehousing
  • Journalism & Media
  • Arts
  • Entertainment & Recreation
  • Healthcare & Social Assistance
• MTOW
  • <25 KG
  • 25-170 KG
  • > 170 KG
• Range
  • Visual Line of Sight
  • Extended Visual Line of Sight
  • Beyond Visual Line of Sight
• Region
  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East & Africa

List of the Key Players of the Global Market is

AeroVironment Inc. (U.S.), Airbus S.A.S. (Netherlands), B.A.E. Systems PLC (UK), DJI (China), Elbit Systems Ltd. (Israel), FLIR Systems Inc. (U.S.), Lockheed Martin Corporation (U.S.), Northrop Grumman Corporation (U.S.), Textron Inc. (U.S.), The Boeing Company (U.S.)

The Global Unmanned Aerial Vehicle (uav) Market Scope can be Tabulated as below