Global UAV drones market market size is expected to grow at a CAGR between 19% and 20% over the period of 2017 – 2023. UAV (Unmanned Aerial Vehicle) drones are unmanned aircrafts that can be controlled from remote locations using remote flight controller or can autonomously fly according to the pre-programmed flight plans as well as with dynamic automation systems. UAV drones can fly up to a day depending upon range of vehicle, perform tasks that are repetitive, undertake precise scanning of regions even in adverse weather conditions. UAV drones are manufactured with light composite materials for reducing weight and increasing maneuverability. UAV drones are utilized for missions that are very dangerous for humans. UAV drones are extensively used for military operations and commercial applications. For military, UAV drones are cheaper alternative for costly aircrafts for aerial surveillance, border patrolling, spying, and flights through no-fly zones for secret missions. Even if it crashes, there will not be any human loss. UAV drones find applications such as agricultural monitoring, aerial imaging, disaster response, engineering inspections, industrial inspections, media and entertainment, marketing, mapping and surveying, maritime surveillance, meteorology, photography, real estate, retail delivery, tourism and videography among others. UAV drones effectively help military, government and businesses to make more effective decision making with the data they collect during their missions.

Figure 1: Global UAV Drones Market by Value 2015 - 2023

Market Insights

Military applications dominate the UAV drones market with huge share, as more countries are deploying drones for border security, surveillance, combat operations and many other tasks. Commercial applications are anticipated to flourish, as many countries are formulating regulations for drones, which could open up more sectors for drones, during the forecast period 2017-2023. Due to the increase in use of drones for aerial photography, filming and broadcasting, the media & entertainment segment in commercial applications drive the growth of the global UAV drones market. Precision agriculture segment is growing rapidly, as the demand for UAV drones have increased significantly for surveillance of livestock, crops and weather, for soil protection and spraying pesticides. The demand for UAV drones are expected to grow multifold in the retail and e-commerce sectors during the forecast period, as major players are planning to use drones for delivery in huge numbers to improve last mile connectivity and cut costs in terms of human. Sensors component segment is anticipated to grow rapidly, due to the growing demand for sensors as pay load in commercial and military drones for applications such as navigation systems, missile defense, targeting, guiding ammunition, pest detection, tracking animals, monitoring of geology and atmosphere, and precision detection among others. Governments drive the growth of the global UAV market with the deployment of drones for law enforcement, infrastructure monitoring, disaster management, scientific research and environmental studies among others.

The lack of enough trained and certified drone pilots who can operate drones remotely is a major constraint for the UAV drones market. High cost of operation for some applications is a restraint for the market. The lack of favorable regulatory frameworks in many countries hinders the growth of the UAV drones market. Retail and e-commerce sectors are anticipated to provide growth opportunities for the major players in the global UAV drones market. Moreover, with many countries relies heavily on import of drones for their requirements, major players in the market are expected to have more opportunities to expand their operations in emerging economies. Emergence of new technologies, components and applications in both military and commercial sectors are expected to provide growth opportunities for the global UAV drones market.

Segments Covered

The report covers the analysis of global as well as regional markets of UAV drones market. Moreover, the global UAV drones market is segmented by type, by application, by components, and by payload. The global UAV drones market by type covers commercial, military and others. On the basis of application the market is segmented as border and maritime security, combat operations, emergency communications, spying, search & rescue operations, education, government,  inspection & monitoring, media & entertainment, oil & gas, precision agriculture, surveying & mapping, and retail among others. Based on component, the market is segmented as battery, camera system, navigation system, propulsion system, sensors and transmitters among others. Based on payload the market is segmented as up to 25 kg, up to 150 kg, up to 600 kg and above 600 kg.

Geographies covered

The global UAV drones market covers the analysis of geographies such as North America, Europe, Asia-Pacific and RoW. In this section, the key trends and market size for each region is provided over the period of 2017 – 2023.

Figure 2: Global UAV Drones Market by Region

Among geographies, North America is the largest UAV drones market in the world and it is followed by Europe. Asia-Pacific is anticipated to become the fastest growing market in terms of CAGR during the forecast period 2017-2023. Formulation of FAA regulations for drones, anti-terror combat operations, atmospheric research and increasing applications in various other sectors are the major factors that drive the growth of the North American UAV drones market. The changes in regulations that favor use of drones in European Union, increasing use of drones in agriculture sector and for law enforcement are the factors driving the growth of the European UAV drones market. Increasing utilization of drones for public safety & security, agriculture and industrial surveillance drives the growth of the Asia-Pacific UAV drones market. Due to the presence of numerous drone manufacturers in Israel, who export drones to different regions, the Middle East UAV drones market is anticipated to grow significantly.

Companies Profiled

The companies covered in the report include manufacturers of global UAV drones market include AeroVironment Inc, BAE Systems Plc , DJI Innovations ,Elbit Systems Ltd, Israel Aerospace Industries, Leonardo Spa, Lockheed Martin Corporation, Northrop Grumman, Parrot SA, Precisionhawk , 3D Robotics, Thales Group and The Boeing Company.

Report Highlights:

The report provides deep insights on demand forecasts, market trends and micro and macro indicators. In addition, this report provides insights on the factors that are driving and restraining the demand of UAV drones globally as well as regionally. Moreover, IGR-growth matrix analysis given in the report brings an insight on the investment areas that existing or new market players can consider. Moreover, the study highlights current market trends and provides forecast from 2017 to 2023. We also have highlighted future trends in the UAV drones market that will impact the demand during the forecast period. Moreover, the competitive analysis given in each regional market brings an insight on the market share of the leading players. Additionally, the analysis highlights rise and fall in the market shares of the key players in the market. This report will help manufacturers, suppliers and distributors of the UAV drones market to understand the present and future trends in this market and formulate their strategies accordingly.