(IT-NEWSWIRE.COM, June 07, 2018 ) Global Unmanned Aerial Vehicle Market is expected to grow from US$ 11.45 billion in 2016 to US$ 51.85 billion by 2025 at a CAGR of 18.4% between 2017 and 2025.
The Unmanned Aerial Vehicle (UAV) Market is at its infancy stage in the developing countries and is highly adopted technology in several developed countries. The market is further expected to flourish with change in government regulations for UAV related technologies across the globe. One of the key factor propelling the market growth for UAVs is its increasing adoption for commercial use by the end-user industries. As per the statistics revealed by FAA, the sale for commercial and hobbyists UAVs are expected to rise from 2.5 Mn in 2016 to 7 Mn in 2020. Moreover, the changing federal regulations are further anticipated to stimulate the growth for commercial UAVs. For instance, the US government recently introduced a program for intensifying testing of UAVs to accelerate the adoption of UAVs in the commercial sector.
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The report focuses on an in-depth segmentation of Unmanned Aerial Vehicle (UAV) Market based by component, type and application. The geographic segmentation of the report covers five major regions including; North Americas, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South America (SA). The regional market has been further bifurcated by respective countries. By application segment, military & defense sector accounted for the largest share of the UAV market in 2016; whereas APAC region is expected to grow at the highest CAGR during the forecast period.
The report aims to provide an overview of global Unmanned Aerial Vehicle (UAV) Market with detailed market segmentation. Also, it analyzes the current UAV market scenario and forecasts the market till 2025. The report covers market dynamics effecting the market during the forecast period. Furthermore, the report analyzes the competitive scenario, geographic trends, and opportunities in the markets with respect to all geographic regions. The report also includes the detailed company profiles of the key players in the market along with their market strategies. The report also provides value chain along with the SWOT analysis for all company profiled in the Unmanned Aerial Vehicle (UAV) Market report.
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North America is one of the prominent regions in Unmanned Aerial Vehicle (UAV) Market which is contributing highest revenue globally due to increasing budget for UAV by the military & defense of the country. Rapidly growing economies in Asia-Pacific (APAC) with significant growth agricultural sector will pave the path for increasing adoption and propel the market for UAVs. The APAC region is expected to grow with highest CAGR during the forecast period, with China contributing the major share. Furthermore, MEA region is also experiencing a significant growth attributed to increased implementation of UAVs in the military application of several countries. Also, commercial applications for UAVs are also increasing in the region such as use of UAVs in Africa’s agriculture segment and ‘taxi drones’ to be launched in Dubai. Some of the major players in the UAV market are General Atomics, DJI, 3DR, Yuneec, Parrot SA, Textron, Northrop Grumman and Insitu among others.
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