The UAV market is projected to grow from USD 26.2 billion in 2022 to USD 38.4 Billion by 2027, at a CAGR of 7.9% from 2022 to 2027. An unmanned aerial vehicle (UAV) or a drone is an airplane that operates autonomously or is remotely piloted. They can be completely autonomous or optionally piloted. However, they are mostly controlled remotely by human pilots. UAVs are equipped with payloads such as sensors and are connected to ground control stations. They can be categorized based on the range of altitude, strength, and weight. UAVs are used in military and commercial applications. They are also employed for inspection or surveillance, aerial photography for film and journalism sectors, search and rescue operations, and cross-border surveillance, along with strategic planning, geographical mapping of inaccessible locations, and weather forecasting. The global demand for drones has increased in the last few years. Individuals, commercial units, and military and government agencies use them for different purposes.
UAVs are considered a fast-growing technology, and their global demand is continuously rising. In the armed services sector, different types of military drones are used for different applications. In the last 10 years, there have been substantial developments in technologies installed in drones that are used for various applications, ranging from border security, fertilizer spraying, and wildlife monitoring to vaccine delivery to inaccessible places during pandemics such as COVID-19. The incorporation of technologies such as artificial intelligence (AI), LiDAR, and a few others has revolutionized the designs of UAVs
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The capability of sensors and cameras extend the use of UAVs to handle various urban issues. As high-fidelity sensors continue to become smaller and more compact, drones are now capable of carrying more payload options than ever before. With all these various models, picking the right one for each unique industrial use can be overwhelming. Using UAVs as remote sensing platforms offers the unique ability for repeated deployment for the acquisition of high temporal resolution data at very high spatial resolution.
Major players like DJI (China), Northrop Grumman Corporation (US), Raytheon Technologies Corporation (US), Israel Aerospace Industry Ltd. (Israel), and General Atomics Aeronautical Systems (GA-ASI) (US) have adopted various growth strategies such as contracts, agreements, acquisitions, expansions, new product launches, partnerships & certifications, investments, venture capital funding, new service launches, and research & development (R&D) activities to further expand their presence in the UAV market.
DJI is a leading global manufacturer of a wide range of cameras, drones, flight controllers, drone accessories, propulsion systems, and camera gimbals (aerial and handheld). The company offers its products for different applications in the agriculture, energy, public safety, entertainment, infrastructure, and construction sectors. DJI offers its products through DJI online stores, DJI-operated stores, and retail stores. Along with civilian use, the products of the company are also used in military and intelligence applications. DJI has in-house research & development and manufacturing facilities in China as well as offices in the US, Germany, the Netherlands, Japan, China, and Hong Kong. The company generates most of its revenue from the US and China. It has received funding to the tune of ~USD 105 million to date from various investors
Northrop Grumman Corporation provides innovative systems, products, and solutions in unmanned systems, cyber, and command, control, communications, computers, intelligence, surveillance, and reconnaissance (C4SIR). Northrop Grumman Corporation is structured into four business divisions: aeronautic systems, mission systems, defense systems, and space systems. The aeronautic systems division provides a variety of situational awareness systems, early warning systems, air radar and management systems, navigation systems, communication systems, and logistics services. Aeronautics Systems is reported in two business areas: Autonomous Systems and Manned Aircraft. The company has a presence across Europe, the Middle East, and Asia Pacific.
Raytheon Technologies Corporation is a global provider of high-technology products & services for the building systems and aerospace industries. It was formed through the merger of the Raytheon Company and the United Technologies Corporation aerospace businesses. The business segments include Collins Aerospace Systems, Pratt & Whitney, Raytheon Intelligence & Space, and Raytheon Missiles & Defense. Its reporting segments are Otis, Carrier, Pratt & Whitney, and Collin Aerospace & Systems. The company specializes in aerostructures, avionics, interiors, mechanical systems, mission systems, and power & control systems that serve customers across the commercial, regional, business aviation, and military sectors. Pratt & Whitney designs, manufactures, and services advanced aircraft engines and auxiliary power systems for commercial, military, and business aircraft. Raytheon Intelligence and Space delivers disruptive technologies and solutions to civil, military, and commercial customers in more than 40 countries worldwide. Raytheon Missiles & Defense produces a broad portfolio of advanced technologies, including air & missile defense systems, precision weapons, radars, and command & control systems, to deliver end-to-end solutions to detect, track, and engage threats.
General Atomics Aeronautical Systems (GA-ASI), a subsidiary of General Atomics, specializes in research and technology development and provides remotely operated surveillance aircraft, Predator family systems, and airborne sensors. It provides long-endurance, mission-capable UAVs with integrated sensor and data link systems required to deliver persistent flight that enables situational awareness and rapid strike. The company provides a wide range of products and services, such as remotely piloted aircraft (RPA), ground control stations (GCS), detect and avoid systems, and sensor control/image analysis software. It also offers pilot training and support services and develops meta-material antennas along with an Integrated Intelligence Center for UAVs and offers training and support services. It also supports warfighter and civil operations.
Israel Aerospace Industries Ltd. (IAI) is a leading manufacturer in the defense and commercial markets and delivers state-of-the-art technologies and systems in all domains. The company provides a wide range of solutions and services for aerial defense-from special mission aircraft and advanced unmanned aerial systems (UAS)-to precision-guided munitions, multi-layered missile defense, loitering munitions, upgrades for military aircraft and helicopters, and sophisticated C4I, ISTAR, and navigation systems. It operates in varied markets around the world, from North America through Brazil and Colombia in the South and India and South Korea in the East to Germany in Europe.
UAV Market by Point of Sale, Systems, Platform (Civil & Commercial, and Defense & Government), Function, End Use, Application, Type (Fixed Wing, Rotary Wing, Hybrid), Mode of Operation, Mtow, Range & Region - Global Forecast to 2027
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