UAV Market – Unmanned Aerial Vehicle Industry Worth US$ 51.85 Billion By 2025 To Focused on Competitive Scenario, Geographic Trends and Opportunities
Market Research Report on Global Unmanned Aerial Vehicle Industry (UAV) providing United States, Germany, South Korea, China, Europe and Japan Market Scenario for 7 years (2018 to 2025) is Now Available at TheInsightPartners.com
February 20, 2018 /MarketersMedia/ —
UAV market is expected to grow US$ 51.85 billion by 2025 from US$ 11.45 billion in 2016. In 2017, the UAV industry marked a significant growth in UAV sales as well as software licenses. This has created aggressive competition in the market, company layoffs, low entry barriers, and reorganizations and consolidations. The commercial application of UAV has increased considerably, which resulted in companies providing better services and enhanced products to the users.
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The global market for UAV exhibit mediocre growth in near future. Some of the major driving factors contributing to the market growth increasing military budgets of several countries, and rising adoption of UAVs in commercial sector. However, absence of defined legal regulations in is the major restraining factors behind the growth of UAV market during the forecast period.
UAV market by application is segmented into Military & Defense, Retail, Media & Entertainment, Personal, Agriculture, Industrial, Law Enforcement, and Construction among others. The increasing adoption of UAVs among different industries such as mining, oil & gas, telecommunications and retail among others is anticipated to influence the market growth. Further, the rising trend of drone delivery service is expected to bolster the market during the forecast period. For instance, countries in Africa such as Rwanda, Malawi, Tanzania, and Cameroon are progressively implementing drone delivery services. Recently, operational drone delivery service in Iceland has been launched. However, drone delivery service in US is still on its testing stage and is anticipated to launch soon with the changes in government regulations. Also, the drone delivery service will provide potential opportunity to companies in emerging economies that still faces issues related to lack of transportation infrastructure. Further, JD.com, one of the China’s biggest online retailer is testing UAVs capable of carrying up to a ton of cargo. The company is anticipated to build a fully autonomous warehouse and is expected to create an autonomous delivery network using UAVs.
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The overall market size has been derived using both primary and secondary source. The research process begins with an exhaustive secondary research using internal and external sources to obtain qualitative and quantitative information related to the market. Also, primary interview were conducted with industry participants and commentators in order to validate data and analysis. The participants who typically take part in such a process include industry expert such as VPs, business development managers, market intelligence managers and national sales managers, and external consultant such as valuation experts, research analysts and key opinion leaders specializing in the UAV industry.
Further, UAVs in insurance sector are used for risk monitoring & assessment and claims management. Also, UAVs are used in scientific research. These UAVs are equipped with different payloads required for specific application and are used for creating 3D Maps as well as for identifying animals and plants. For instance, in November 2017, researchers used UAVs to mapping glaciers in Peru.
Some of the major players influencing commercial UAV market are DJI, Yuneec, 3DR, senseFly, Parrot SA, Airware, PrecisionHawk, DroneDeploy, Ehang, and Pix4D among others.
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