The commercial uav global market report 2024 from The Business Research Company provides comprehensive market statistics, including global market size, regional shares, competitor market share, detailed segments, trends, and opportunities. This report offers an in-depth analysis of current and future industry scenarios, delivering a complete perspective for thriving in the industrial automation software market.
Commercial UAV Market, 2024 report by The Business Research Company offers
comprehensive insights into the current state of the market and highlights
future growth opportunities.
Market Size -
The commercial UAV market size has grown exponentially in recent years. It will
grow from $12.06 billion in 2023 to $14.91 billion in 2024 at a compound annual
growth rate (CAGR) of 23.6%. The growth
in the historic period can be attributed to wide-scale use in civil and
commercial applications, the growing number of applications, the rise in the
use of UAVs for the military, the rise in government investment, and the need
for safe and accurate inspection and monitoring.
The commercial UAV market size is expected to see exponential growth in the
next few years. It will grow to $34.44 billion in 2028 at a compound annual
growth rate (CAGR) of 23.3%. The growth
in the forecast period can be attributed to rise in advanced patrolling of
marine borders, rapid industrial developments, increased the demand for
automation in various industries, increased foreign investments, increased
transfer of technologies related to UAV platforms. Major trends in the forecast
period include technological advancements, product innovations, increased
deployment to carry out aerial remote sensing, emerging applications of UAVs in
the commercial sector, rise in R&D for new and advanced technology.
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Scope Of Commercial UAV Market
The Business Research Company's reports encompass a wide range of information,
including:
1. Market Size (Historic and Forecast): Analysis of the market's historical
performance and projections for future growth.
2. Drivers: Examination of the key factors propelling market growth.
3. Trends: Identification of emerging trends and patterns shaping the market
landscape.
4. Key Segments: Breakdown of the market into its primary segments and their
respective performance.
5. Focus Regions and Geographies: Insight into the most critical regions and
geographical areas influencing the market.
6. Macro Economic Factors: Assessment of broader economic elements impacting
the market.
Commercial UAV Market Overview
Market Drivers -
The increasing automation is expected to propel the growth of the commercial
UAV market going forward. Automation refers to the use of technology, systems,
or processes to perform tasks with minimal human intervention. The goal of
automation is to streamline operations, increase efficiency, reduce errors, and
enhance overall productivity in various industries and applications. Automation
enables UAVs to follow predefined flight paths using GPS waypoints. This is
particularly useful for surveying, mapping, and monitoring large areas without
direct human intervention. For instance, in March 2023, according to Verizon
Communications Inc., a US-based telecommunications company, retailers
anticipate a significant increase in automation and expect up to 70% of routine
tasks will be partially or fully automated by 2025. The use of AI to improve
operations is projected to increase 9x by 2025. Therefore, the increasing
automation is driving the growth of the commercial UAV market.
Market Trends -
Major companies operating in the commercial UAV market are developing
innovative technologies, such as commercial drone platforms, to increase their
profitability in the market. Commercial drone platforms refer to the various
types of unmanned aerial vehicles (UAVs) or drones that are specifically
designed, configured, and utilized for commercial purposes rather than
recreational or military applications. For instance, in May 2023, SZ DJI
Technology Co. Ltd., a China-based technology company, launched a new commercial
drone platform called DJI Matrice 350 RTK and improved security measures to
protect the drone, its communication channels, and the data it collects. It is
an advanced commercial drone that supports multiple payloads, has sophisticated
functionality, and is compatible with a variety of professional payloads to
enable extensive data collecting across several industries. This may involve
encryption, secure authentication, and protection against cyber threats.
Including high-resolution cameras, LiDAR sensors, thermal imaging, or other
specialized sensors to cater to various industries and applications.
The aerospace support and auxiliary equipment market covered in this report is
segmented –
1) By Type: Commercial Radars, Satellites
2) By Ownership: Public, Private
3) By Platform: Airborne, Land, Naval, Space
Subsegments Covered: Continuous Waveform, Pulse Waveform, Large Satellite, Mini
Satellite, Micro Satellite, Nano Satellite
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Regional Insights -
North America was the largest region in the commercial UAV market in 2023.
Asia-Pacific is expected to be the fastest-growing region in the forecast
period. The regions covered in the commercial UAV market report are
Asia-Pacific, Western Europe, Eastern Europe, North America, South America,
Middle East, Africa.
Major companies operating in the commercial UAV market are Raytheon
Technologies, The Boeing Company, Intel Corporation, General Dynamics
Corporation, Northrop Grumman, BAE Systems plc, Textron Inc., Turkish Aerospace
Industries Inc., SAIC Inc., Elbit Systems Ltd., Israel Aerospace Industries,
DJI Innovations, General Atomics Aeronautical Systems, Yuneec Holding Ltd.,
AeroVironment Inc., Aurora Flight, Insitu, Parrot Drones, Parrot SA ,
DroneDeploy, Skydio, Autel Robotics, Airobotics, PrecisionHawk, 3D Robotics,
Aeryon Labs, Draganfly Innovations Inc., Ehang Holdings Limited, Aeronavics,
Challis Heliplane UAV Inc., Prox Dynamics AS
Table of Contents
1. Executive Summary
2. Commercial UAV Market Report Structure
3. Commercial UAV Market Trends And Strategies
4. Commercial UAV Market – Macro Economic Scenario
5. Commercial UAV Market Size And Growth
…..
27. Commercial UAV Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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