"UAV Market to 2025 by Component (Hardware (Camera and Sensors) and
Software); by Type (Fixed Wing, Multi Rotor, Single Rotor, and Hybrid) and
Application (Military & Defense, Retail, Media & Entertainment,
Personal, Agriculture, Industrial, Law Enforcement, and Construction) - Global
Analysis and Forecast" The scope of study involves understanding on the
factors responsible for this growth of UAV along with the estimates and
forecasts of the revenue and market share analysis and also spots the
significant UAV players in the market and their key developments.
UAV Market to 2025 - Global Analysis and Forecast by Component, Type and Application, UAV market is expected to grow US$ 51.85 billion by 2025 from US$ 11.45 billion in 2016. The government of various economies worldwide are increasing their military expenditure on UAVs. According to a report published by the center for the study of the drone at Bard College in 2017, the US DoD is planning to spend US$ 6.97 Bn on UAVs and related technology in 2018. This would increase the country's military UAV spending by 21% in 2018. As per the defense budget document, it is analyzed that the US DoD plans to invest 90% more than it has projected in 2013.
Furthermore, the countries are Asia Pacific region are increasing their defense budget. With the increasing defense budgets, the countries are planning to invest significantly on the deployment of UAV technology. For instance, in 2015, Taiwan introduced the prototype of the country's largest military UAV. Further in 2017, Singapore offered UAVs and urban warfare training facilities for supporting Philippines combat against militants in Marawi. In July, 2017, China instigated the production of CH-5 Rainbow UAV, which is projected as a competitor to the US UAV MQ-9 Reaper that is capable to attack targets on the ground. Also, the country is trying to fill the military UAV sales gap with Israel, which is the top exporter of military UAVs accounting over 50% share of military UAV exports. Also, US has approved to sell military UAVs to India. Such developments are anticipated to boost the market growth for UAVs in the APAC region.
The global UAV Market by geography is segmented into five region including, North America, Europe, Asia Pacific, Middle East & Africa and South America. Currently, the UAV market is experiencing a high growth in APAC region. The developing economies in the region particularly, China is investing heavily to implement UAV technology into their military forces as well as in various other commercial applications. Also, UAV technology is highly adopted by Japan's agricultural sector. Government of various economies are relaxing regulations for deployment of UAVs in the commercial sector. For instance, in 2016, Australian government relaxed UAV-related regulations for the commercial sector.
The report segments the global UAV Market as follows:
Global UAV Market- By Component
Global UAV Market- By Type
Global UAV Market- By Geography
Rest of Europe
Asia Pacific (APAC)
Rest of APAC
Middle East & Africa (MEA)
Rest of MEA
South America (SA)
Rest of SA