Posted On: 2021-03-23
Military UAV’s acquired the largest revenue share in the overall global UAV market for the year 2019 – 6Wresearch
Global UAV market demand would continue to accelerate due to reasons such as growing demand in applications such as surveillance & combat operations and increasing military spending for this technology in overall percentage of military budgets. Innovations in camera technology had a noteworthy impact on the increasing use of drones. UAVs equipped with thermal imaging cameras have provided emergency response teams with a perfect solution for identifying victims who are difficult to spot with the naked eye. In addition to emergency response, drones have turned out to be useful during times of natural disaster. Modern medicine has had a profound influence on disease prevention, rising life expectancy, and raising general living standards. However, access to high quality healthcare is scarce in many remote areas around the world. Although medical supplies can be provided by conventional means, some conditions require fast access to medications, blood, and medical technology, which can be fulfilled by UAVs.
According to 6WResearch, the Global UAV Market size is projected to grow at a CAGR of 10.6% during 2020-2026. The growth trajectory differs from country to country. The market is in its nascent stage in countries such as India, Brazil, and other developing nations. While on the other hand, the UAV is relatively established in countries such as China, United Kingdom and United States. At present, America region accounted for the highest revenue and volume share in the overall global UAV market. Countries such as United States and Canada are the major contributors in the region, owing to the rapid military development, urbanization and infrastructural development across several verticals in these countries. Further, Asia Pacific region is expected to emerge as a potentially remunerative market for UAVs during the forecast period, primarily due to the rapidly growing military modernization and product adoption for several activities such as filming & photography, agriculture, monitoring & inspection etc. for commercial purpose in the region.
According to Mansi Bisht, Senior Research Analyst, 6WResearch, “Based on range, beyond line of sight (BLOS) segment of the UAV has dominated the market for the year 2019 and same trend is expected in the coming years due to the major deployment of UAV’s in beyond line of sight for surveillance and inspection purpose in military.”
According to Mohit Bhatia, Research Analyst, 6WResearch, “Based on product Types, in commercial segment, rotary blade acquired the highest share for the year 2019 owing to its special advantage of vertical landing and take-off. Also, they could hover at one specific point and are best suited for the short-range applications.”
Global UAV Market (2020-2026)" report provides an in-depth analysis with 197 figures and 161 tables covered in more than 345 pages. The report estimates and forecasts the overall Global UAV market by types, range, product types, applications, and regions. The report provides an unbiased and detailed analysis of the on-going trends, opportunities/high growth areas and market drivers which would help the stakeholders to device and align their market strategies according to the current and future market dynamics.