By 2027, The Drone Market is Worth $ 83.6 Billion.
According to the heading By component, category (micro drone, micro drone), end user (military, commercial, agricultural), type (fixed-wing, rotary drone, capa...
According to the heading "By component, category (micro drone, micro drone), end user (military, commercial, agricultural), type (fixed-wing, rotary drone, capacity and mode of operation-by 2027 Global Forecast ”predicts that the drone market will grow at a compound annual growth rate of 19.8% starting in 2019 and reach $ 83.6 billion by 2027. In addition, in terms of volume, from 2019 to 2027, the drone market It is expected to grow at a compound annual growth rate of 26.8% and reach 46.7 million units by 2027.
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An unmanned aerial vehicle (UAV) or unmanned aircraft is an aircraft that can be operated remotely by a pilot or a preset schedule or automated system, enabling it to fly autonomously. A wide range of industries and organizations, including military, government, industrial, and entertainment users, have deployed the technology globally. With advances in drone technology, these aircraft are expected to become more popular and affordable. Increasing adoption of drones in civilian and commercial applications, increasing deployment of drones in border patrols and combating terrorism, and Federal Aviation Administration (FAA) regulations allowing drones to be used in multiple industries are driving A key factor in the growth of drones is the aircraft (UAV) market. however,
Global drone market research provides historical market data by value and volume (2017 and 2018), estimated current data (2019) and forecasts for 2027. Market segment by component (UAV hardware, UAV software); category (small UAV, strategic tactical UAV, dedicated UAV); type (fixed-wing UAV, fixed-wing vertical take-off and landing UAV, rotary-wing UAV) Capacity (<25 kg, 25-170 kg,> 170 kg); operation mode (remote control drone, semi-autonomous drone, fully automatic drone); and end users (military, commercial, law enforcement, agriculture, energy and power, Construction and mining, media and entertainment, wildlife and forestry, insurance). The study also assessed industry competitors and analysed markets at the national level.
Based on components, during the forecast period, the drone hardware part will become the largest shareholder of the entire drone market in 2019. The larger share of this segment is mainly due to the increasing demand for replacement, upgrade and modification of drone hardware to increase the life and performance of drones and gain a competitive advantage. In addition, several drone manufacturers are proposing lighter and stronger hardware structures to enable them to operate in extreme weather conditions, further driving the growth of this market segment. However, advances in drone software technology and growing demand for better data analysis will cause the software segment to become the fastest growing segment over the forecast period.
According to the mode of operation, the remotely operated drone market will account for the largest share of the entire drone market in 2019 due to advanced features such as emergency landing, disconnected recovery and emergency switching between control channels. However, the fully autonomous drone market is expected to grow at the fastest compound annual growth rate over the forecast period. The rapid growth of this market segment is attributed to the growing demand for fully automated drones due to its comprehensive features such as enhanced stability and waypoint flight. In addition, fully autonomous drones can perform all functions on their own, without the need for any external operator commands.
According to the type, the rotorcraft drone market will occupy the largest share of the entire drone market in 2019. This is mainly due to its greater maneuverability and compact design, easy-to-use features, higher payload capacity, and relatively low price than other types of drones. In addition, these drones require less flight space And can hover in flight.
News References: https://www.globenewswire.com/news-release/2020/03/18/2002463/0/en/Unmanned-Aerial-Vehicle-UAV-Market-Worth-83-6-Billion-by-2027-Exclusive-Report-by-Meticulous-Research.html