Press release
UAV Drones Market 2024 - By Size, Share Analysis, Trends And Growth Forecast By 2033
UAV Drones Market
UAV Drones Global Market Report 2024 by The Business Research Company offers comprehensive market insights, empowering businesses with a competitive edge. It includes detailed estimates for numerous segments and sub-segments, providing valuable strategic guidance.
The Market Size Is Expected To Reach $61.08 billion In 2028 At A CAGR Of 15.1% :
The uav drones market size has grown rapidly in recent years. It will grow from $30.06 billion in 2023 to $34.82 billion in 2024 at a compound annual growth rate (CAGR) of 15.8%. The growth in the historic period can be attributed to military and defense adoption, commercial applications, miniaturization and lightweight designs, consumer interest and adoption, remote sensing and monitoring.
The uav drones market size is expected to see rapid growth in the next few years. It will grow to $61.08 billion in 2028 at a compound annual growth rate (CAGR) of 15.1%. The growth in the forecast period can be attributed to energy sector integration, consumer market growth, healthcare and emergency response, miniaturization and portability, autonomous features development. Major trends in the forecast period include education and training, security and surveillance needs, energy sector integration, infrastructure development, drone delivery services.
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UAV Drones Market Major Segments
The uav drones market covered in this report is segmented -
1) By Product: Fixed-Wing, Rotary Blade, Hybrid
2) By Component: Camera, Battery, Propulsion System, Controller, Sensor, Other Components
3) By End-Use: Military And Defense, Retail, Construction, Agriculture, Entertainment, Law Enforcement, Other End Uses
Key Driver - Global Surge In Defense Spending Ignites Growth In Uav Drone Market
Increasing defense spending is expected to propel the growth of the UAV drone market going forward. Defense spending refers to the amount of the federal budget earmarked for defense, including funding for military operations, pay, training, and health care, in addition to maintaining and buying weapons, buildings, and equipment. Defense spending is used for procurement and the purchase of UAV drones which has been a force multiplier for combat around the world. For instance, in April 2023, according to SIPRI (Stockholm International Peace Research Institute), a Sweden-based international organization,in 2022, the total amount spent on military spending worldwide climbed by 3.7% in real terms, hitting a record $2240 billion. China's military budget also increased for the 26th year in a row. Therefore, increasing defense spending is driving the growth of the UAV drone market.
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Prominent Trend - Cutting Edge Innovations Edge Unveils Advanced Swarming Drones With Ai Technology In The Uav Market
Technological advancement is a key trend gaining popularity in the UAV drone market. Major players in the UAV drone sector are focused on technological advancement to sustain their market position. For instance, in February 2022, EDGE, a UAE-based defense and space manufacturing company, introduced swarming drones, unmanned aerial systems (UAS), with advanced artificial intelligence (AI) technology that enables the drones to swarm together in a coordinated mission. The unique features of these drones include a maximum take-off weight of 8 kg, the swarm of drones are agile and responsive while being directed to their target, which may include an incoming convoy of enemy armored vehicles or enemy fighter jets on the tarmac at a military base.
UAV Drones Market Players
Major companies operating in the uav drones market report are General Atomics Aeronautical Systems Inc., Northrop Grumman Corporation, SZ DJI Technology Co. Ltd., AeroVironment Inc., Airbus S.A.S., BAE Systems PLC, AiDrones GmbH, Tonner Drones, Elbit Systems Ltd., General Atomics Aeronautical Systems Inc., Lockheed Martin Corporation, Yuneec International Co. Ltd., Thales Group, Kasper UAV, senseFly SA, Delair, Hexagon AB, Aeronautics Ltd., Anduril Industries Inc., Animal Dynamics Ltd., Asteria Aerospace Ltd., SAAB AB, Teal Drones Inc., Teledyne FLIR LLC, SZ DJI Technology Co. Ltd., Parrot SA, Kitty Hawk Corporation, GoPro Inc., Holy Stone, Autel Robotics
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Largest And Fastest Growing Region In The Market
North America was the largest region in the UAV drones market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the uav drones market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The Table Of Content For The Market Report Include:
1. Executive Summary
2. UAV Drones Market Report Structure
3. UAV Drones Market Trends And Strategies
4. UAV Drones Market - Macro Economic Scenario
5. UAV Drones Market Size And Growth
…..
27. UAV Drones Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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The Business Research Company (www.thebusinessresearchcompany.com) is a leading market intelligence firm renowned for its expertise in company, market, and consumer research. With a global presence, TBRC's consultants specialize in diverse industries such as manufacturing, healthcare, financial services, chemicals, and technology, providing unparalleled insights and strategic guidance to clients worldwide.
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