New York, July 13, 2023 (GLOBE NEWSWIRE) -- As per the research report “Global Multi Rotor UAV Market” published by Reports Insights, the market was worth USD 3,708.03 Million in 2022 and is anticipated to reach over USD 16,405.98 Million by the year 2030, growing at a CAGR of 20.70%.
Multi rotor UAVs refer to a type of unmanned aerial vehicle that uses more than two rotors with fixed pitch spinning blades for generating lift and maneuvering the aircraft. Various types of multi rotor UAVs including 4-rotor UAV, 3-rotor UAV, 6-rotor UAV, and others are utilized in aerial photography and filming, search and rescue, surveillance, security and law enforcement, and other applications. The benefits include compact size, enhanced operational efficiency, increased maneuverability, reduced surveillance and inspection time, and others are key determinants for increasing the adoption of multi rotor UAVs. The market for multi-rotor UAVs is highly competitive, with a large number of players offering a wide range of solutions. The market is projected to continue to grow in the near future, driven by the increasing demand for multi-rotor UAVs in the aerospace & defense and commercial industries among others.
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The increasing utilization of multi rotor UAVs in search and rescue missions is one of the key factors driving the market growth. Multi rotor UAVs are primarily used in search & rescue missions to provide rescue operators with easy access to aerial data and images of a large area, which enables the rescue team to accelerate the process of rescuing. For instance, in 2020, Australia was hit by one of the worst bushfire seasons that destroyed several homes and wildlife. In the aftermath of the bushfires, several UAVs were deployed for the execution of search and rescue missions. Thus, the rising deployment of UAVs in search and rescue missions is among the prime factors driving the market growth.
Further, the growing military & defense industry is a vital factor fostering the growth of the market. Multi rotor UAVs are often deployed in the military & defense industry for application in intelligence, target acquisition, surveillance, and reconnaissance missions. The characteristics of multi rotor UAVs including higher payload capacity, improved visual capacities, greater control over position and framing, and observation of large areas are increasing its utilization in the military & defense sector. Moreover, factors including the rising investments in military and defense systems and growing need for efficient surveillance solutions are among the key prospects fostering the application of multi rotor UAVs.
| Report Attributes | Report Details |
| Market Size By 2030 | USD 16,405.98 Million |
| Forecast Period | 2023-2030 |
| CAGR (2023-2030) | 20.70% |
| Base Year | 2022 |
| Study Timeline | 2017-2030 |
| Key Players | T-DRONES, VulcanUAV, Draganfly Inc., DJI, Israel Aerospace Industries, MICRODRONES, AddictiveRC, Trimble Inc., SMD, Airogistic LLC, Zerotech |
| By Type | 3-rotor UAV, 4-rotor UAV, 6-rotor UAV, and Others |
| By Application | Aerial Photography and Filming, Surveillance, Search and Rescue, Security and Law Enforcement, and Others |
| Report Coverage | Company Ranking and Market Share, Growth Factors, Total Revenue Forecast, Regional Competitive Landscape, Business Strategies, and more. |
| By Geography | North America, Europe, Asia-Pacific, Latin America, Middle East & Africa |
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Multi Rotor UAV Market Growth Drivers:
- Rising utilization of multi rotor UAVs in search & rescue missions is driving the market growth
- Growing military & defense industry is spurring the market growth
Restraints
- High cost of multi rotor UAV is restraining the market growth
Global Multi Rotor UAV Market Segmentation Details:
Based on type, the 4-rotor UAV segment contributed to largest share to the market growth in 2022. The benefits of 4-rotor UAVs including size, high degree of maneuverability, compact design along with the ability to hover in place and fly in tighter spaces are key prospects driving the growth of the segment. Moreover, factors including the rising expenditures in defense equipment and platforms along with the increasing demand for airborne surveillance solutions with high degree of maneuverability are among the prime determinants driving the growth of the 4-rotor UAV segment.
Based on application, the surveillance segment is anticipated to offer substantial shares to the global multi rotor UAV market growth during the forecast period. Multi rotor UAVs are primarily utilized for assisting defense forces in conducting intelligence, surveillance, and reconnaissance operations along the borders. Factors including the rise in geopolitical tensions and cross-border issues, increasing expenditure on defense equipment, and growing demand for intelligence, surveillance, and reconnaissance operations are expected to fuel the market growth during the forecast period.
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Based on region, North America accounted for the largest share contribution to the market growth in 2022. The prevalence of significant multi-rotor UAV providers in North America such as Draganfly Inc., AddictiveRC, Trimble Inc., Airogistic LLC, and others lead to significant innovations in multi rotor UAVs in the region. In addition, factors including the rising government expenditure on strengthening the military and defense sector, increasing search & rescue missions, and growing deployment of multi rotor UAVs for surveillance applications are further boosting the market growth in the North American region.
Recent Developments
- In January 2019, MICRODRONES acquired Aircam UAV Technology headquartered in China. Aircam has established a large consumer base in China and Southeast Asia with a primary focus on surveying & mapping, oil & gas, and utility industries among others. The acquisition aims at expanding and strengthening the company’s position in the Asian market.
Key Market Highlights
- The Global Multi Rotor UAV Market size is estimated to exceed USD 16,405.98 million by 2030 and grow at a CAGR of 20.70% during the forecast period (2023-2030).
- Globally, multi rotor UAVs are divided based on the type into 3-rotor UAV, 4-rotor UAV, 6-rotor UAV, and others.
- On the basis of application, the market is classified into aerial photography and filming, surveillance, search and rescue, security and law enforcement, and others.
- The market is geographically divided into five regions: North America, Europe, Asia-Pacific, Latin America, Middle East & Africa
- North America and Asia-Pacific are estimated to support the market growth during the forecast period in terms of the large presence of market players combined with high expenditures on technological advancements in multi rotor UAVs.
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List of Major Global Multi Rotor UAV Market Players
The market research report examines various market factors to determine the key drivers, limitations, and opportunities affecting market players. The report includes a SWOT analysis, regional analysis, and segment analysis to give a complete view of the market situation. This evaluation helps to identify possible growth opportunities through the implementation of technology, product utilization, business strategies, and the launch of new products. The following are major market players operating in the market environment —
-
- T-DRONES
- VulcanUAV
- Draganfly Inc.
- DJI
- Israel Aerospace Industries
- MICRODRONES
- AddictiveRC
- Trimble Inc.
- SMD
- Airogistic LLC
- Zerotech
Global Multi Rotor UAV Market Segmentation:
- By Type
- 3-rotor UAV
- 4-rotor UAV
- 6-rotor UAV
- Others
- By Application
- Aerial Photography and Filming
- Surveillance
- Search and Rescue
- Security and Law Enforcement
- Others
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