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DJI and Lockheed Martin Corp are Leading Players in UAV Drones Market
The global UAV drones market is expected to reach USD 21.23 Billion by 2022, at a CAGR of 19.99% between 2016 and 2022. The key opportunity for this market is the increase in the number of exemptions for the use of UAV drones in commercial applications by the release of the Part 107 rule by Federal Aviation Administration (FAA) in the U.S and high adoption of drones by developing economies for military applications. Some of the key factors driving this market are the enhanced capabilities of drones to fight terrorism and the growing demand for drone-generated data in commercial applications.
The key players in the UAV drones market include Lockheed Martin Corporation (U.S.), Northrop Grumman Corporation (U.S.), Aerovironment, Inc. (U.S.), Elbit systems Ltd. (Israel), Israel Aerospace Industries Ltd. (Israel), BAE Systems Plc (U.K.), Thales SA (France), Leonardo SpA (Italy), and DJI (China), among others. Most of the leading companies have followed the organic strategy of new product launches and inorganic strategies such as contracts/agreements and partnerships to boost the revenue of the company.
Top 2 players in the UAV Drones market:
DJI is the market leader in easy-to-fly drones and aerial photography systems. DJI offers UAV platforms which empower users to capture images that were once out of reach. The company’s flying and camera stabilization systems have redefined camera placement and motion. DJI focuses mainly on organic strategies such as new product launches and expansions to increase its business in the UAV drones market. The company has built its brand in the U.S. and other global markets owing to its high-quality products and price effectiveness. For instance, in April 2016, DJI launched a new product, Matrice 600 which is the company’s next-generation aerial platform, marking a new era for professional aerial photography, filmmaking, and industrial applications. This product enables the video transmission technology to offer high frame rates and HD live-streaming capability at distances up to five kms. DJI has an important role to play in the Part 107 rule as it has been invited to join the Drone Advisory Committee established by the Federal Aviation Administration (FAA) to identify the most important issues raised by the growing usage of drones and to recommend strategies for safely integrating drones into the national airspace.
Lockheed Martin Corp. has developed a portfolio of systems for unmanned air autonomous operations. It formulates strategies to integrate advanced technologies in the UAV drones market. For instance, in December 2015, the Stalker XE unmanned aerial system provided geolocation information to direct the K-MAX to hotspots for extinguishing fire. The company generates 80% of its revenue from the U.S. defense contracts, and has secured a stable position in the UAV drones market. The company focuses on increasing its revenue by signing contracts. Lockheed Martin Corp. is committed to solving the enduring and emerging global challenges. It has increased its independent R&D funding for the fourth consecutive year to USD 839 million in 2015. In October 2015, it launched a new capability that would allow users to detect and counter emerging threats from unmanned aerial systems (UAS).
UAV Drones Market by Type (Fixed Wing, VTOL, STUAS, MALE, HALE, UCAS ), Payload (Up to 25 Kg, Up to 150 Kg, Up to 600 Kg, Above 600 Kg), Application (Precision Agriculture, Retail, Media & Entertainment), Component, and Geography - Global Forecast to 2022
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