The global Small UAV Market size is expected to reach US$ 11.31 billion by 2027 and is expected to grow at an impressive double-digit rate of 18.9% from 2020 to 2027.
The study includes drivers and restraints of this market. The study provides an analysis of the global Small UAV Market for the period 2016-2027, wherein 2020 to 2027 is the forecast period and 2020 is considered as the base year.
Why should you invest in this report?
If you are aiming to enter the global Small UAV Market, this report is a comprehensive guide that provides crystal clear insights into this niche market. All the major application areas for Small UAV are covered in this report and information is given on the important regions of the world where this market is likely to boom during the forecast period of 2020-2027, so that you can plan your strategies to enter this market accordingly.
Besides, through this report, you can have a complete grasp of the level of competition you will be facing in this hugely competitive market and if you are an established player in this market already, this report will help you gauge the strategies that your competitors have adopted to stay as market leaders in this market. For new entrants to this market, the voluminous data provided in this report is invaluable.
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Growth Factors
Upsurge in the procurement of small military drones by defense forces worldwide is one of the most significant factors projected to drive the growth of the small UAV market. Augmenting use of small drones in commercial applications including surveying, aerial remote sensing, monitoring, mapping, precision agriculture, and product distribution is also crediting to the growth of the market.
Application of UAV is growing quickly for surveillance and public service responses by both local and national police forces. Furthermore, the novel governing changes and rollout of remote ID and 5G will permit massive up scaling of drone procedures, from solitary remotely functioned aircraft to semi-autonomous fleets which would be capable to function outside visual line of sight courtesy of imminent unmanned traffic management infrastructure. This will deliver the base from which corporations like Amazon can unveil drone delivery services.
COVID-19 can be a catalyst for the extensive implementation of small UAVs in commercial spaces. The most substantial rise in UAV application can be in areas including agriculture, city planning and administration, health, emergency response and rescue, village mapping, damage assessment, inventory management, flood monitoring, retail, and delivery of food and goods services. However, high prices of advanced UAVs can act as a deterrent factor in the growth of the small UAVs market. The UAV consists of numerous components including motors, sensors, camera, GPS, and batteries. The components are utilized in the small drone dependent on the application. The cost of these components relies on the quality. Usage of superior components upsurges the cost of the UAV suggestively.
Report Highlights
- The introduction of 5G technology is projected to open up totally new paths for the small drone sector
- Among different types of small UAV, rotary blade type UAV gathered the largest share around 70% of global small UAV Market in 2019
- Asia-Pacific is expected to observe the speedy growth due to rapid expansion of defense capabilities in vital economies like India, Japan, China and South Korea
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Key Market Players and Strategies
- DJI
- Parrot
- AeroVironment
- Elbit Systems
- Textron
- Lockheed Martin
- Applied Aeronautics
- IAI
- FLIR Systems
Major Market Segments Covered:
By Type
- Fixed Wing
- Helicopter
- Rotary Blade
By Application
- Defense
- Commercial and Civil
Regional Analysis:
The geographical analysis of the global Small UAV Market has been done for North America, Europe, Asia-Pacific, and the Rest of the World.
The North American market is again segmented into the US, Canada, and Mexico. Coming to the European market, it can be segmented further into the UK, Germany, France, Italy, Spain, and the rest. Coming to the Asia-Pacific, the global Small UAV Market is segmented into China, India, Japan, and Rest of Asia Pacific. Among others, the market is segmented into the Middle East and Africa, (GCC, North Africa, South Africa and Rest of the Middle East & Africa).
Key Questions Answered by the Report:
- What will be the size of the global Small UAV Market in 2027?
- What is the expected CAGR for the Small UAV Market between 2020 and 2027?
- Which are the top players active in this global market?
- What are the key drivers of this global market?
- How will the market situation change in the coming years?
- Which region held the highest market share in this global market?
- What are the common business tactics adopted by players?
- What is the growth outlook of the global Small UAV Market?
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