Unmanned Aerial Vehicle (UAV) Market Size, Share, Industry Analysis, Trends, Growth, Forecasts, 2032

Unmanned Aerial Vehicle (UAV) Market

Unmanned Aerial Vehicle (UAV) Market By Platform (Defense & Government and Civil & Commercial), By Systems (Ground Control Station, Platform, Launch & Recovery System, Payload, and Datablink), By End-User (Public Safety & Security, Military, Mining & Quarrying, Insurance, Agriculture, Energy, Healthcare & Social Assistance, and Journalism & Media), By Mode of Agent (Optionally Piloted, Remotely Piloted, and Fully Autonomous), and By Region - Global and Regional Industry Overview, Market Intelligence, Comprehensive Analysis, Historical Data, and Forecasts 2024 – 2032

Category: Defense & Security Report Format : PDF Pages: 211 Report Code: ZMR-8052 Published Date: Feb-2024 Status : Published
Market Size in 2023 Market Forecast in 2032 CAGR (in %) Base Year
USD 15.21 Billion USD 47.67 Billion 15.35% 2023

Unmanned Aerial Vehicle (UAV) Market

Unmanned Aerial Vehicle (UAV) Industry Prospective:

The global unmanned aerial vehicle (UAV) market size was worth around USD 15.21 billion in 2023 and is predicted to grow to around USD 47.67 billion by 2032 with a compound annual growth rate (CAGR) of roughly 15.35% between 2024 and 2032.

Global Unmanned Aerial Vehicle (UAV) Market SizeRequest Free Sample

Unmanned Aerial Vehicle (UAV) Market: Overview

An unmanned aerial vehicle (UAV) is an aircraft that requires minimal and zero assistance from a human pilot. It is also known as a drone and they do not have space for any humans including passengers, crew, or pilots. UAVs have showcased greater application in recent times. They were earlier developed for military-based operations but steadily, they have become a part of other non-military applications such as agriculture and environment monitoring industries. The main definition of unmanned aerial vehicles covers several crucial aspects such as no room for human occupancy, use of aerodynamic forces for lifting, remote piloting, and the ability to carry nonlethal or lethal payload for military operations. They are a result of the constant innovation witnessed in the global aviation industry.

As years have progressed, UAVs have undergone multiple changes and they continue to evolve with time becoming more efficient and showcasing better applications. Drones are classified based on different features and aspects of the tool. The four most common classifications are single-rotor drones, multi-rotor drones, fixed-wing hybrid Vertical Takeoff and Landing (VTOL), and fixed-wing drones.

Key Insights:

  • As per the analysis shared by our research analyst, the global unmanned aerial vehicle (UAV) market is estimated to grow annually at a CAGR of around 15.35% over the forecast period (2024-2032)
  • In terms of revenue, the global unmanned aerial vehicle (UAV) market size was valued at around USD 15.21 billion in 2023 and is projected to reach USD 47.67 billion, by 2032.
  • The unmanned aerial vehicle (UAV) market is projected to grow at a significant rate due to the growing military applications of UAVs and increasing political alliances for UAV production
  • Based on platform segmentation, defense & government were predicted to show maximum market share in the year 2023
  • Based on end-user segmentation, military was the leading segment in 2023
  • On the basis of region, North America was the leading revenue generator in 2023

Unmanned Aerial Vehicle (UAV) Market: Growth Drivers

Growing military applications of UAVs and increasing political alliances for UAV production may drive the market growth rate

The global unmanned aerial vehicle (UAV) market is projected to grow owing to the increasing use of modern-day aviation tools in military operations. Regional powers are amplifying investments toward improving military ammunition to ensure national security agencies are well-equipped with state-of-the-art and modern tools against any form of security breaches. This has led to an increase in interest in unmanned aerial vehicles. These tools provide more security since they can be used for carrying out military operations in areas or regions that are deemed unsafe for humans. The risk of losing human personnel is greatly reduced as UAVs can be operated remotely for several essential military tasks. They help carry out essential surveys, locate terror spots, and gather other forms of critical information.

Moreover, certain drones are also capable of carrying ammunition and firing them upon instruction to destroy energy camps or weapons. The growing international collaboration between countries for the supply of unmanned aerial vehicles may further promote the adoption of UAVs. In June 2023, the Indian and the US governments signed a deal for the supply of General Atomics MQ-9B High Altitude Long Endurance (HALE) UAV. The contract will require the US to supply the modern-day military-grade tool to upgrade India’s defense systems.

Moreover, the growing risk of national threat against the backdrop of emerging social and political tensions between national powers such as Russia-Ukraine, India-Pakistan, and North Korea-South Korea may aid in higher military adoption of solutions available in the global unmanned aerial vehicle (UAV) market.

Unmanned Aerial Vehicle (UAV) Market: Restraints

High cost of production and maintenance may restrict market expansion

The global unmanned aerial vehicle (UAV) industry is expected to be restricted due to the high cost of production of drones. These tools work on sophisticated technologies requiring intense research & development (R&D). Companies may have to spend multiple years to develop a working prototype.

In addition to this, the cost of raw materials used for UAV production is expensive leading to additional expenses. Maintaining UAVs is resource-intensive and there is always a risk of losing contact with UAVs when in the air. Thus, it is crucial to ensure that UAV offers cost-efficiency which may be difficult to achieve.

Unmanned Aerial Vehicle (UAV) Market: Opportunities

Growing commercial applications of UAVs have high growth potential

The global unmanned aerial vehicle (UAV) market will witness high growth opportunities as a result of the growing commercial applications of drones. Several non-military industries are registering high demand for commercial-grade UAVs that are affordable but offer exceptional performance. For instance, UAVs are used extensively for environmental monitoring, especially during intense weather conditions such as forest fires or other forms of natural calamity. UAVs are used for carrying out preliminary surveys. Agriculture is one of the leading examples of commercial applications of UAVs.

Unmanned aerial vehicles used in the agriculture industry are equipped with sensor technologies that aid the collection of critical data such as crop yield, ripening state, and detection of infestation among other attributes. The information is rallied to the farmer for making informed decisions. In December 2023, the Indian government announced an investment of INR 1,261 crore to be provided until 2026 for a drone scheme meant for women’s self-help groups (SHGs). Through the new scheme, the government will provide drones to around 15000 SHGs for rental services.

Unmanned Aerial Vehicle (UAV) Market: Challenges

Risk of Intellectual Property (IP) theft is a crucial challenge for industry players

One of the key challenges in the industry is to manage the risk of IP theft. Unmanned aerial vehicles use peculiar systems. They are advanced tools requiring years of research and innovation. However, since UAVs are also prone to loss or being captured by opposing groups, there is a risk of intellectual property theft.

Terrorist groups may reverse-engineer captured UAVs to determine the exact systems and technologies used during the development process thus creating challenges for the global unmanned aerial vehicle (UAV) players.

Unmanned Aerial Vehicle (UAV) Market: Segmentation

The global unmanned aerial vehicle (UAV) market is segmented based on platform, systems, end-user, mode of agent, and region.

Based on the platform, the global market is divided into defense & government and civil & commercial. In 2023, the highest growth was observed in the defense & government segment primarily due to the high budgets associated with the development of military-grade UAVs. Unmanned aerial vehicles were initially developed for military applications. The growing research in improving product performance will contribute to higher segmental growth during the projection period. In 2023, the US military expenses reached over USD 876 billion.

Based on systems, the global unmanned aerial vehicle (UAV) industry is divided into ground control station, platform, launch & recovery system, payload, and datablink.

Based on end-user, the global market segments are public safety & security, military, mining & quarrying, insurance, agriculture, energy, health & social assistance, and journalism & media. In 2023, the military was the largest consumer of UAVs. However, other segments also witnessed intense growth, especially the agriculture sector. During the forecast period, the use of drones in the farming industry is projected to grow at a CAGR of more than 39%. Journalism & media companies use the tools for reporting incidents in critical regions considered unsafe for humans.

Based on mode of agent, the global market is divided into optionally piloted, remotely piloted, and fully autonomous.

Unmanned Aerial Vehicle (UAV) Market: Report Scope

Report Attributes Report Details
Report Name Unmanned Aerial Vehicle (UAV) Market
Market Size in 2023 USD 15.21 Billion
Market Forecast in 2032 USD 47.67 Billion
Growth Rate CAGR of 15.35%
Number of Pages 211
Key Companies Covered AeroVironment Inc., DJI (Dà-Jiang Innovations), General Atomics Aeronautical Systems Inc., Parrot SA, Yuneec International, Northrop Grumman Corporation, SZ DJI Technology Co. Ltd., Ehang, Lockheed Martin Corporation, Israel Aerospace Industries (IAI), Textron Inc. (Includes AAI Corporation and others), Kratos Defense & Security Solutions Inc., Microdrones GmbH, SenseFly (A Parrot Company), Boeing (Insitu)., and others.
Segments Covered By Platform, By Systems, By End-User, By Mode of Agent, and By Region
Regions Covered North America, Europe, Asia Pacific (APAC), Latin America, Middle East, and Africa (MEA)
Base Year 2023
Historical Year 2018 to 2022
Forecast Year 2024 - 2032
Customization Scope Avail customized purchase options to meet your exact research needs. Request For Customization

Unmanned Aerial Vehicle (UAV) Market: Regional Analysis

North America to register the highest growth rate during the forecast period

The global unmanned aerial vehicle (UAV) market will be led by North America during the projection period. The US will be acting as the major regional growth propeller. The country is home to one of the world’s most advanced defense units armed with modern ammunition and weapons used for ensuring national security. The country is also one of the highest allocators of defense-related budgets. As per official reports from the US Department of Defense (DOD), the country currently uses more than 11,000 unmanned vehicle systems for overseas contingency missions and domestic support. The fleet consists of a small RQ-11B Raven as well as the larger RQ/MQ-4 Global Hawk/Triton. The US is regarded as one of the leading exporters of military-grade accessories to developing and emerging nations.

In November 2023, Airbus U.S. Space and Defense, a leading producer of multiple types of UAVs announced that it would be expanding its business offering by creating a brand solely showcasing military applications thus catering to the needs of US DOD. Asia-Pacific is an emerging market with China, India, South Korea, North Korea, and Japan showing higher investments in UAVs. China is working toward becoming the next superpower by investing heavily in upgrading military-grade UAVs.

Unmanned Aerial Vehicle (UAV) Market: Competitive Analysis

The global unmanned aerial vehicle (UAV) market is led by players like:

  • AeroVironment Inc.
  • DJI (Dà-Jiang Innovations)
  • General Atomics Aeronautical Systems Inc.
  • Parrot SA
  • Yuneec International
  • Northrop Grumman Corporation
  • SZ DJI Technology Co. Ltd.
  • Ehang
  • Lockheed Martin Corporation
  • Israel Aerospace Industries (IAI)
  • Textron Inc. (Includes AAI Corporation and others)
  • Kratos Defense & Security Solutions Inc.
  • Microdrones GmbH
  • SenseFly (A Parrot Company)
  • Boeing (Insitu).

The global unmanned aerial vehicle (UAV) market is segmented as follows:

By Platform

  • Defense & Government
  • Civil & Commercial

By Systems

  • Ground Control Station
  • Platform
  • Launch & Recovery System
  • Payload
  • Datablink

By End-User

  • Public Safety & Security
  • Military
  • Mining & Quarrying
  • Insurance
  • Agriculture
  • Energy
  • Healthcare & Social Assistance
  • Journalism & Media

By Mode of Agent

  • Optionally Piloted
  • Remotely Piloted
  • Fully Autonomous

By Region

  • North America
    • The U.S.
    • Canada
  • Europe
    • France 
    • The UK
    • Spain
    • Germany
    • Italy
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • South Korea
    • Southeast Asia
    • Rest of Asia Pacific
  • Latin America
    • Brazil
    • Mexico
    • Rest of Latin America
  • Middle East & Africa
    • GCC
    • South Africa
    • Rest of Middle East & Africa

Table Of Content

Methodology

FrequentlyAsked Questions

An unmanned aerial vehicle (UAV) is an aircraft that requires minimal and zero assistance from a human pilot.

The global unmanned aerial vehicle (UAV) market is projected to grow owing to the increasing use of modern-day aviation tools in military operations.

According to a study, the global unmanned aerial vehicle (UAV) market size was worth around USD 15.21 billion in 2023 and is predicted to grow to around USD 47.67 billion by 2032.

The CAGR value of unmanned aerial vehicle (UAV) market is expected to be around 15.35% during 2024-2032.

The global unmanned aerial vehicle (UAV) market will be led by North America during the projection period.

The global unmanned aerial vehicle (UAV) market is led by players like AeroVironment, Inc., DJI (Dà-Jiang Innovations), General Atomics Aeronautical Systems, Inc., Parrot SA, Yuneec International, Northrop Grumman Corporation, SZ DJI Technology Co., Ltd., Ehang, Lockheed Martin Corporation, Israel Aerospace Industries (IAI), Textron Inc. (Includes AAI Corporation and others), Kratos Defense & Security Solutions, Inc.,Microdrones GmbH, SenseFly (A Parrot Company), and Boeing (Insitu).

The report explores crucial aspects of the unmanned aerial vehicle (UAV) market including detailed discussion of existing growth factors and restraints while also browsing future growth opportunities and challenges that impact the market.

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