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UAV Drones Global Market Report 2024 - By Size, Share, Trends, Report And Outlook By 2033
UAV Drones Market
As per the report, 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 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%.
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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.
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.
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
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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
Contents of the report:
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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