Unmanned Aerial Vehicle Market Global Opportunity Analysis and Industry Forecast, 2022-2030


Unmanned aerial vehicles are aircrafts without a human pilot on board, and they are piloted remotely or autonomously by a human operator using onboard computers. The growth of the unmanned aerial vehicle market is anticipated to be fueled by rising defence spending by various governments around the world and an increase in terrorist activity.

The healthcare and agricultural sectors are the main ones where drone use is expanding. For instance, in 2017, government organisations in important African nations, including Tanzania, teamed up with delivery services like Zipline to send blood and medical supplies to remote and inaccessible places. Additionally, WakeMed Health & Hospital in North Carolina (U.S.) collaborated with the state's transportation department on a pilot study in 2018 to assess the viability of using drones to distribute medical supplies across hospital campuses. Following a number of fruitful trials, Matternet, a California-based drone company, and later UPS have joined up with WakeMed to advance the hospital's drone delivery initiatives.

The global Unmanned Aerial Vehicle Market was valued at US$ 19,365.8 Mn in 2019 and is expected to reach US$ 68,983.0 Mn by 2028, exhibiting a CAGR of 16.3% between 2021 and 2028.

The unmanned aerial vehicle market is divided into aftermarket and Original Equipment Manufacturers based on point of sale (OEMs). Over the projection period, the OEM segment is anticipated to experience a significantly high pace of revenue growth. OEMs are a more preferable option when buying UAVs because of their greater technical expertise, superior products, and extensive supply of spare parts. Buying UAVs from OEMs offers additional advantages including service contracts and warranties on OEM-sold components. This should accelerate the segment's growth.

Government investment on UAVs has surged as a result of the global security crisis and growing terrorism threat. A wide range of unmanned aerial vehicle applications are available in the military and defence, civil and commercial, logistics and transportation, construction, and mining industries, among others. These applications allow for efficient asset observations and surveillance to achieve the highest level of operational effectiveness. UAVs are quick and simple to launch, can fly at night, and can undertake stealth missions. The type, application, weight, and geographic regions are used to segment the worldwide unmanned aerial vehicle (UAV) market.

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