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New report shares details about the UAV drones market to grow at 18.32% CAGR and projected to reach US$ 48.88 billion by 2023

The report on the UAV drones market segments the market by type, component, payload, application, and geography. Depending on the type of drone, the market is segmented into commercial and military drones. The UAV drones market is segmented on the basis of payloads into commercial drones (up to 25 kg) and military drones (up to 150 kg, up to 600 kg, and more than 600 kg).

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Unmanned aerial vehicle (UAV) drones market expected to grow from USD 13.81 Billion in 2016 to USD 48.88 Billion by 2023, at a CAGR of 18.32% during forecast period. Objectives of report include forecast of UAV drones market size in terms of value and volume for military & commercial drones.

It includes detailed information regarding drivers of UAV drones market like increase in venture funding, rise in demand for drone-generated data in commercial applications, & rapid technological advancements.

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Key Target Audience:

  • Original equipment manufacturers (OEMs)
  • OEM technology solution providers
  • Research institutes
  • Market research and consulting firms
  • Forums, alliances, and associations
  • Technology investors
  • Governments and financial institutions
  • Analysts and strategic business planners
  • End users of UAV drones

The study of the value chain of the UAV drones market is also one of the objectives of the report that includes information about suppliers and integrators in the value chain of the UAV drones market. The UAV drones market for precision agriculture is expected to grow at the highest CAGR during the forecast period.

Drones are useful for agricultural planners.

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North America is expected to hold the largest share of the UAV drones market in 2017. However, the market in APAC is expected to grow at the highest CAGR owing to the increase in the number of commercial drones for precision agriculture, inspection and monitoring, and surveying applications in this region.

The ongoing tensions among the countries over the South China Sea and Doklam and the growing concerns of terrorism and security are expected to drive the use of military drones in this region.

Breakdown of profile of primary participants:

  • By Company Type: Tier 1 =35%, Tier 2 =45%, and Tier 3 =20%
  • By Designation: C-level Executives =35%, Directors=25%, and Others =40%
  • By Region: North America =45%, Europe =20%, APAC =30%, and RoW =5%

Major players in the UAV drones market are Northrop Grumman (US), DJI (China), General Atomics Aeronautical Systems (US), Parrot (France), Thales (France), 3DR (US), Boeing (US), PrecisionHawk (US), Lockheed Martin (US), Aero Vironment (US), Elbit Systems (Israel), Israel Aerospace Industries (Israel), YUNEEC (China), Leonardo (Italy), BAE Systems (UK), Saab (Sweden), ALCORE Technologies (France), ING Robotic Aviation (Canada), AiDrones (Germany), Nimbus srl (Italy), Aeroscout (Switzerland), VTOL Technologies (UK), Xiaomi (China), and Delta Drone (France), among others.

Connect for More Details for More Information “Unmanned Aerial Vehicle (UAV) Drones Market by Type (Fixed Wing, VTOL, STUAS, MALE, HALE), Payload (Up to 150 and 600 kg), Component (Camera, Sensor), Application (Media & Entertainment, Precision Agriculture), and Geography - Global Forecast to 2023” report at…unt?rname=1253102 .

This growth is attributed to the rising demand for drones and drone-generated data in commercial applications. Also, in some countries, the rules for operating drones in the airspace have been relaxed, thereby boosting the adoption rate of commercial drones.

The report would help the market leaders/new entrants in this market in the following ways:

  • This report segments the UAV drones market comprehensively and provides the closest approximations of the overall market size and that of the sub segments across different applications and regions.
  • The report helps stakeholders to understand the pulse of the market and provides them the information on key market drivers, restraints, challenges, and opportunities.
  • This report would help stakeholders to understand their competitors better and gain more insights to enhance their position in the business. The competitive landscape section includes competitor ecosystem, product launches, partnerships, and mergers and acquisitions in the UAV drones market.

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