Unmanned Aerial Vehicle Market Rise at CAGR of 16.3% 2021: Market Dynamics and Trends, Efficiencies Forecast 2028

According to a Recent Research Published by Coherent Market Insights The Global unmanned combat aerial vehicle (UCAV), also known as unmanned aerial vehicles or combat UAV, is a fully-automated aircraft that is utilized for intelligence, surveillance, targeting, and reconnaissance by military or civilian operators and is flown by military personnel. UAVs are typically used in combat by the military to gather intelligence and more effectively strike their opponents. UAVs are also very useful when it comes to collecting weather information.

The global unmanned aerial vehicle market was valued at US$ 19,365.8 Mn in 2019 and is expected to reach US$ 68,983.0 Mn by 2028, exhibiting a CAGR of 16.3% between 2021 and 2028.

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An unmanned combat aerial vehicle (UCAV), also known as unmanned aerial vehicles or combat UAV, is a fully-automated aircraft that is utilized for intelligence, surveillance, targeting, and reconnaissance by military or civilian operators and is flown by military personnel. UAVs are typically used in combat by the military to gather intelligence and more effectively strike their opponents. UAVs are also very useful when it comes to collecting weather information.

Multi-purpose UAVs are gaining demand from the defense sector as they are capable of providing better striking and surveillance capabilities. This is a major factor driving the growth of the Unmanned Combat Aerial Vehicle (UCAV) market. Moreover, increasing spending by the government across emerging economies such as India, China, and Brazil is also supporting the growth of the market. Rising technology advancement in the field of unmanned combat aerial vehicles is again fostering the growth of the Unmanned Combat Aerial Vehicle (UCAV) market. In March 2021, Kelley Aerospace, the company behind UAV, has officially launched the world's first supersonic unmanned combat aerial vehicle (UCAV). It world's first pilotless supersonic combat drone.

Companies covered:

3D Robotics
AeroVironment Inc.
DJI
Elbit Systems Ltd
General Atomics
GoPro Inc.
Israel Aerospace Industries
Lockheed Martin Corporation
Northrop Grumman Corporation
Parrot SA
Textron Inc.
Boeing
Uvify Inc.
and YUNEEC.

Unmanned Aerial Vehicle Market Segments covered:

By Type: Fixed Wing Drone, Rotary Blade Drone, Hybrid Drone

By Load Capacity: 5 KG

By Duration: 30 Minutes

By Range: Short (25 Kilometers)

By Application: Aerial Photography, Agriculture, Emergency and Disaster Management, Inspection & Monitoring, Remote Sensing & Mapping, Wildlife Research & Preservation

By End User: Government and Defense, Commercial

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Key Developments:

In October 2020, British engineers have revealed some of the latest concepts under development for the Royal Air Force’s (RAF) next-generation combat air system.

New radar technology delivers unparalleled data processing capability on the battlespace, equivalent to nine hours of HD video or the internet traffic of a large city every second
In October 2020, BAE Systems has been awarded an indefinite-delivery/indefinite-quantity contract to develop an attributable air vehicle system for the Skyborg program.

The Skyborg program is intended to create a low-cost autonomous unmanned aerial vehicle that will partner with manned aircraft to increase air combat power In June 2019, Airbus Defence and Space has embedded a software solution to develop an advanced Unmanned Aerial Vehicle (UAV) that will be engineered for speed, safety, and affordability

Regional Classification

North America, Europe, Asia Pacific, Central and South America, as well as the Middle East and Africa, are the key regions addressed in the study report. The experts who worked on this section of the study looked at a variety of industries that are driving development and could provide profitable expansion opportunities for manufacturers in the future. The report also includes sales and income forecasts by area and country for the years 2021-2027.

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About Coherent Market Insights:

Coherent Market Insights is a prominent market research and consulting firm offering action-ready syndicated research reports, custom market analysis, consulting services, and competitive analysis through various recommendations related to emerging market trends, technologies, and potential absolute dollar opportunity.

This release was published on openPR.