Research Nester released a report titled “Small Unmanned Aerial Vehicle Market Outlook: Industry Insights & Opportunity Assessment 2019-2027″which includes some prominent market analyzing parameters such as industry growth drivers, restraints, supply and demand risk, market attractiveness, year-on-year (Y-O-Y) growth comparisons, market share comparisons, BPS analysis, SWOT analysis and Porter’s five force model.
The small unmanned aerial vehicles that gained their popularity with their applications in military have now diversified their set of applications in numerous other industries such as entertainment and agriculture among others. The small UAV market is anticipated to witness significant opportunities and is estimated to grow at a CAGR of around 16% over the forecast period i.e. 2019-2027. The global UAV market is estimated to cross USD 12 Billion, whereas, the Indian UAV market is anticipated to cross USD 860 million by 2021. This can be attributed to increase in adoption of drone based solutions in commercial, scientific, recreational, agricultural, and surveillance sectors.
Geographically, the global small UAV market is segmented by regions into North America, Latin America, Europe, Asia-Pacific and Middle East and Africa, out of which, the market in North America is estimated to hold highest position in the overall market on the back of increasing expenditure by U.S. on military applications, integration of technologies and surveillance missions to combat warfare. The second largest share in the market is anticipated to be garnered by the market in Asia Pacific owing to growing popularity of these vehicles, increasing technological developments, and changes in regulations related to UAVs in the region. The highest adoption rate of UAVs is predicted to be witnessed in Europe over the forecast period. The global small unmanned aerial vehicle market is segmented by size, operation, application, power source and regions.
The utilization of drones in various organizations owing to their various beneficial applications such as monitoring, mapping and remote surveillance among others has paved way for innovations and increased utilization of these vehicles, thereby furthering the demand for UAVs around the globe. Moreover, favorable government policies are resulting in an increased adoption of drones.
However, lack of trained professionals and knowledge between manufacturers and potential users to operate the UAV might restrain the growth of the market during the forecast period.
This report also provides the existing competitive scenario of some of the key players of the small unmanned aerial vehicle market which includes company profiling of key companies such as Da-Jiang Innovations, EHang, Elbit Systems, Finmeccanica, HobbyKing, Horizon Hobby, Israel Aerospace Industries, Lockheed Martin, Textron Systems, AeroVironment, Airbus Group and Boeing.
The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. Conclusively, the report titled “Global Small Unmanned Aerial Vehicle Market Outlook 2027”, analyses the overall small unmanned aerial vehicle industry to help new entrants to understand the details of the market. In addition to that, this report also guides existing players looking for expansion and major investors looking for investment in the global small UAV market in the near future.