New York, USA, Nov. 07, 2022 (GLOBE NEWSWIRE) -- Research Dive has published a new report on the global UAV drones market. According to the report, the global market is projected to surpass $102,466.7 million and grow with a CAGR of 19.6% in the estimated period, 2022–2030. This all-inclusive report delivers a comprehensive overview of the current and future situation of the global market by stating its main characteristics including growth drivers, growth opportunities, limitations, and developments in the forecast period. The report also offers all the required and vital market statistics to help new players obtain an insight into the status of the global market.
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Impact of the COVID-19 Pandemic on the UAV Drones Market
The outbreak of the COVID-19 pandemic in 2020 has had a negative impact on the growth of the global UAV drones market. The implementation of lockdown restrictions resulted in the cessation of numerous end-use industries that used drones in various operational processes. As a result, the demand for drones significantly declined. On the other hand, the use of drones for monitoring restricted zones or for observing the pandemic situation in highly infected areas and an increase in technological advances in drones are likely to bring rewarding opportunities for the market growth.
Factors Impacting the UAV Drones Market Growth
The key factor boosting the growth of the global UAV drones market is a significant rise in the use of drones by disaster management teams in rescue operations. In addition, the rising implementation of favorable government policies and growing approvals for the commercial use of UAV drones by businesses are projected to unlock lucrative opportunities for the growth of the market. However, difficulty in ensuring the efficacy and safety of UAV drones is anticipated to hamper the market’s growth.
The report segments the global UAV drones market into product type, end-use, end-use industry, and region.
Fixed-wing Sub-Segment to Grow Extraordinarily
The fixed-wing sub-segment of the product type segment is expected to observe outstanding growth and hit $72,052.9 million in the forecast period. This is primarily due to the rising demand for fixed-wing type UAV drones, as they have the potential to fly for longer hours than other types of drones.
Military & Defense Sub-Segment to Grab a Foremost Share of the Market
The military & defense sub-segment of the end-use segment is anticipated to grow enormously and surpass $65,298.5 million in the forecast period. This growth is mainly owed to the increasing use of UAV drones in the military & defense sector to carry out various operations across borderlines.
Consumer Sub-Segment to Observe Highest Growth
The consumer sub-segment of the end-use industry segment is anticipated to grow significantly and garner $19,953.4 million in the forecast period. This growth is mainly because of the rising adoption of drone technologies by consumers in a number of application areas.
North America Region to Perceive Exponential Growth
The report analyzes the global UAV drones market across several regions such as Asia-Pacific, North America, Europe, and LAMEA. Among these, the North America market is anticipated to grow with a CAGR of 16.8% in the estimated period. This growth is mostly due to the growing demand for drones from the commercial sector in this region for numerous operational uses, for instance, to deliver products to the customers at their respective locations.
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Top Players of the Global UAV Drones Market
The report states some of the foremost players operating in the global UAV drones market including
- Aerovironment, Inc.
- Northrop Grumman
- Thales
- Textron Inc.
- Boeing
- DJI
- Parrot Drone SAS
- 3D Robotics Inc.
- Aeryon Labs Inc.
- General Atomics, and others.
These players are taking various initiatives such as investing in novel product launches, strategic alliances and collaborations, etc. to obtain a leading edge in the global market. – Inquire here to get an access to the Key companies’ Development Strategic Report
For instance, in March 2022, Magnum Wings, a technology-driven aeronautical and aviation company, launched its first commercially available UAV drone –MW Viper in India.
Also, the report provides numerous industry insights such as top strategic initiatives & developments, novel launch of products, business performance, Porter’s five forces analysis, and SWOT analysis of the foremost players, functioning in the global market.
More about UAV Drones Market:
- UAV Drones Market to Observe Significant Growth Due to Technological Advancements and Product Launches by Market Players, such as Aevum, Zala Aero Group, and Others
- UAV Drones: The Future of Emergency Healthcare Services
- 8 Key Areas Other than Military Sector Where UAV Drones Are Widely Used
