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UAV Market worth 28.27 Billion USD by 2022


The report "UAV (Unmanned Aerial Vehicle) Drone Market by Application (Military, Civil & Commercial, Homeland Security), Class (Small, Tactical, Strategic, Special Purpose), Subsystem, Energy Source, Material Type, Payload and Region - Global Forecast to 2022", The UAV (Unmanned Aerial Vehicle) market is estimated to be USD 13.22 Billion in 2016 and is projected to reach USD 28.27 Billion by 2022, at a CAGR of 13.51% during the forecast period.

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Key factors fueling the growth of the UAV (Unmanned Aerial Vehicle) market are increasing demand for UAVs for commercial applications, advancements in technologies of drone payloads, and increasing defense budgets of emerging economies.

Civil & commercial application segment is projected to grow at the highest CAGR during the forecast period

Based on application, the civil & commercial segment of the UAV (Unmanned Aerial Vehicle) market  is anticipated to grow at the highest CAGR during the forecast period, as UAVs offer attractive platforms for a broad range of potential applications such as aerial remote sensing, greenhouse emission monitoring, and precision agriculture, among others. In addition, there have been various procurements and investments in civil & commercial applications of UAVs worldwide.

Based on class, the small UAV segment is projected to grow at the highest CAGR during the forecast period

Based on class, the small UAV segment of the UAV (Unmanned Aerial Vehicle) market is anticipated to grow at the highest CAGR during the forecast period. The demand for small UAVs is increasing, owing to a wide range of opportunities in commercial applications and potentialities of their use in battlefields.

Based on payload, the synthetic aperture radar (SAR) segment is projected to grow at the highest CAGR during the forecast period

Based on payload, the SAR segment of the UAV (Unmanned Aerial Vehicle) market  is anticipated to grow at the highest CAGR during the forecast period, as payload is compact in size, lightweight, uses less power, and is capable of performing real-time imaging.

Asia-Pacific UAV (Unmanned Aerial Vehicle) market to grow at the highest CAGR during the forecast period

The UAV (Unmanned Aerial Vehicle) market in the Asia-Pacific (APAC) region is expected to grow at the highest CAGR during the forecast period. Instability due to internal political tensions, growing trend of automation, and globalization in the region are the main factors fueling the growth of the UAV (Unmanned Aerial Vehicle) market in the APAC region. North America dominated the UAV (Unmanned Aerial Vehicle) market in 2015 due to increased UAV application in military, homeland security, and commercial areas.

Key players profiled in the UAV (Unmanned Aerial Vehicle) market  report include Northrop Grumman (U.S.) Inc., SZ DJI Technology Co., Ltd. (China), Textron Inc. (U.S.), Parrot SA (France), IAI Ltd. (Israel), AeroVironment, Inc. (U.S.), Lockheed Martin Corporation (U.S.), and The Boeing Company (U.S.), among others.

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