UAV Market - Growing Demand in Commercial and Military Applications

1. UAV Market Growing Demand in Commercial and MilitaryApplications The report "UAV Marketby 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" The UAV market isprojected togrow from USD 26.2 billion in 2022 to USD 38.3 Billion by 2027, at a CAGR of 7.9% from 2022 to 2027. The market growth can be attributed to growing increased adoption of UAS in commercial applications and increased procurement of UAVs by military forces worldwide. Download PDF Brochure @ https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=662 The acceptance of UAVs or drones has steadily been increasing across the world for use in law enforcement and commercial applications. UAVs are witnessing increased demand owing to their cost-effectiveness and advancements in them over the last couple ofyears. Rising demand for military C4ISR capabilities is driving the demand for UAVs. Drones are used to gather data about ongoing and life-threatening military missions with the help of their command, control, communications, computers, intelligence, surveillance, and reconnaissance (C4ISR) capabilities which are used to reinforce, boost, or implement command and control strategies and directives within military and intelligence frameworks. C4ISR powered by AI uses machine learning to identify and classify tanks and other vehicles, improves image feeds, and also provides drivingassistance by giving early warning on obstacles and changing ground conditions. Governments are also quickly adopting these technologies to improve their defensearsenal. Based on platform, the defense & government segment is anticipated torecord the highest growth rate during the forecastperiod Based on platform, the UAV market has been segmented into civil & commercial and defense & government. The defense & government segment is further segmented into small, tactical, and strategic. Rising demand for defense sector for surveillance, reconnaissance and border security is boosting the demand for defense & government drones. The strategic type of defense & government segment held the leading share of the market in 2022 given the high value of strategic drones such as HALE and MALE. Tactical UAVs fly at altitudes ranging between 3,000 and 8,000 meters and are principally used in military applications. They fillthe gap between

2. small UAVs and strategic UAVs by combining the flexibility of small platforms with high-end platforms. The increasing demand for tactical drones that can be hand- launched and have an endurance of about 2 hours with suitable payload capacities to provide the required surveillance information has led to the growth of the tactical drones segment of the UAV Industryfor defense & governmentglobally. Based on Function, the special purpose segment is estimated to register large share in the baseyear UAVs perform various functions ranging from transporting passengers to carrying out combat duties. Based on function, the UAV market has been segmented into special purposedrones, passenger drones, inspection & monitoring drones, surveying & mapping drones, spraying & seeding drones, cargo air vehicles, and others. Special purpose drones mainly include decoy drones, swarm drones, combat UAVs,etc.,usedinmilitaryapplications.Theuse of specialpurposedroneinmilitary andcombatoperationsisdrivingthedemandforthesedrones.Asthenamesuggests, special purpose drones are specifically designed for performing a particular set of duties. These include aerial combat duties and lethal orswarm tasks. Exo- stratospheric drones also fall in the category of special purpose drones; they remain in the air as launch-effect vehicles. The MQ-9 Reaper by General Atomics (US) is a well-known battlefield drone that is used extensively across theworld. TheAsiaPacificregionisprojectedtobehighgrowthpotentialmarketsforthe UAV market during the forecastperiod. The rising number ofUAV manufacturers in China and India and increased procurement of military drones is the major factor driving the market growth in Asia Pacific. China held the leading share in the Asia Pacific UAV Market during 2022. China is one of the prime manufacturers of drones globally. China focuses on the procurement of tactical UAVs owing to their increased applications in the civil and defense sectors. UAV manufacturers in the country have witnessed an increased demand from various countries of Asia Pacific, Africa, and the Middle East. This is positively affecting the growth of the UAV market inChina. Top UAVCompanies: Major players in the UAV market are DJI (China), Parrot Drone SAS (France), Israel Aerospace Industry Ltd. (Israel), AeroVironment, Inc. (US), and Lockheed Martin Corporation(US). Ask for Sample Report@ https://www.marketsandmarkets.com/requestsampleNew.asp?id=662 AboutMarketsandMarkets™ MarketsandMarkets™ is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. We have the widest lens on emerging technologies, making us proficient in co-creating supernormal growth forclients.

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