PUBLISHER: The Business Research Company | PRODUCT CODE: 1388019
PUBLISHER: The Business Research Company | PRODUCT CODE: 1388019
“Unmanned Defense Aerial Vehicle Global Market Report 2024 ” from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on unmanned defense aerial vehicle market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for unmanned defense aerial vehicle? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? “The unmanned defense aerial vehicle market global report ” from The Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
Unmanned defense aerial vehicles, commonly referred to as drones and aircraft without onboard human operators, are employed in autonomous defense operations. These UAVs are equipped with sensors, target designators, and various munitions like ATGMs, missiles, bombs, or electronic transmitters, designed for the destruction of enemy targets in military and defense applications.
The primary categories of UAVs used in unmanned defense aerial vehicles include multi-rotor, single rotor, fixed-wing, and fixed-wing hybrid VTOL (Vertical Takeoff and Landing) drones. Fixed-wing drones are aircraft without human pilots onboard, and they can be controlled remotely by a human operator or autonomously by onboard systems. These UAVs are used in different operational ranges, including visual line of sight (VLOS), extended visual line of sight (EVLOS), and beyond the line of sight (BLOS). They also employ various technologies, ranging from remotely operated to semi-autonomous and fully autonomous systems.
The unmanned defense aerial vehicle market research report is one of a series of new reports from The Business Research Company that provides unmanned defense aerial vehicle market statistics, including unmanned defense aerial vehicle industry global market size, regional shares, competitors with an unmanned defense aerial vehicle market share, detailed unmanned defense aerial vehicle market segments, market trends and opportunities, and any further data you may need to thrive in the unmanned defense aerial vehicle industry. This unmanned defense aerial vehicle market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.
The unmanned defense aerial vehicle market size has grown strongly in recent years. It will grow from $15.16 billion in 2023 to $16.52 billion in 2024 at a compound annual growth rate (CAGR) of 9.0%. The growth observed during the historical period can be attributed to several key factors, including military modernization efforts, the focus on counterterrorism and asymmetric warfare strategies, advancements in surveillance and reconnaissance capabilities, and ongoing technological advancements in the field of unmanned defense aerial vehicles.
The unmanned defense aerial vehicle market size is expected to see strong growth in the next few years. It will grow to $23.34 billion in 2028 at a compound annual growth rate (CAGR) of 9.0%. The anticipated growth in the forecast period can be attributed to several factors, including the increasing adoption of armed unmanned aerial vehicles (UAVs), the development of counter-drone technologies, heightened geopolitical tensions, a focus on urban warfare and asymmetric threats. Significant trends expected in the forecast period encompass the use of electromagnetic warfare (EW) techniques, the adoption of hybrid-electric UAVs, efforts to adapt UAVs to different environmental conditions, and their expanding use in maritime and submarine operations.
The unmanned defense aerial vehicle market is poised for growth, driven by increased defense spending on unmanned technologies. US defense procurement is expected to rise from $2.5 billion in 2020 to approximately $3.3 billion by the end of 2030. This heightened investment in research and development by the defense sector for unmanned technologies is anticipated to boost revenues in the unmanned defense aerial vehicles market in the years to come.
The growing demand for unmanned aerial vehicles (UAVs) in military and defense applications, including surveillance, reconnaissance, situational awareness, and search and rescue operations, is expected to propel the market's growth. Military agencies are the primary consumers of UAV solutions and related services. Government and law enforcement agencies also use UAVs for surveillance and monitoring purposes. UAVs are utilized in combat operations for strike missions, carrying ordnance like missiles, ATGMs, and bombs in hardpoints for military drone strikes. For instance, as of December 2021, the Federal Aviation Administration reported that approximately 1.37 million new drone operators had registered with the FAA. Throughout 2021, an average of approximately 10,300 new owner registrations occurred.
The stringent government regulations governing the use of unmanned defense aerial vehicles are expected to limit market growth during the forecast period. Various countries' governments have implemented regulations related to UAV usage. For instance, Canada's government has introduced new regulations classifying UAVs based on the associated risks. Operations of UAVs weighing 25 kg or more require licensing. The Federal Aviation Administration (FAA) in the United States has imposed restrictions on unmanned vehicles, including flying below 400 feet within the lateral boundaries of US military facilities, with violations subject to enforcement actions involving civil penalties and criminal charges. Therefore, government regulations regarding UAV usage are anticipated to be a significant factor restraining the growth of the unmanned defense aerial vehicle market.
A notable trend in the UAV market is the increasing preference for sustainable and eco-friendly products. The use of sustainable UAVs can help reduce the environmental impact of military and defense operations by decreasing CO2 emissions and air pollutants compared to traditional delivery methods involving fossil fuel-powered vehicles. Regulations and policies governing UAV usage in military and defense applications are placing greater emphasis on environmental considerations. For example, the European Aviation Safety Agency (EASA) mandates that drones be designed to minimize noise and emissions while complying with environmental protection requirements. The Federal Aviation Administration (FAA) has forecasted that the commercial drone fleet will reach 828,000, with the recreational fleet numbering around 1.48 million by 2024.
Key players in the industry are expanding their businesses, which is a prominent trend in the unmanned defense aerial vehicle market. For example, in June 2022, Garuda Aerospace, an India-based UAV developer, announced a partnership with HiiLSE Drones in Malaysia to establish a 2.42-hectare drone factory with a daily production capacity of about 50 drones. Garuda Aerospace aims to provide drone technologies to both government and private sectors in the region and plans to invest Rs 115 crore in the partnership. These expansions by leading players are shaping the unmanned defense aerial vehicle market.
In January 2022, ILUS International Inc., a US-based public merger and acquisition investment company, acquired Vira Drones for an undisclosed amount. The acquisition is part of ILUS's strategy to incorporate Vira Drones' technology into its existing and future emergency response solutions and those of upcoming acquisitions. Vira Drones is a Switzerland-based UAV developer and manufacturer.
Major companies operating in the unmanned defense aerial vehicle market include The Boeing Company, BAE Systems PLC, SZ DJI Technology Co. Ltd. (DJI), Elbit Systems Ltd., General Atomics Aeronautical Systems Inc., Israel Aerospace Industries Ltd. (IAI), Northrop Grumman Corporation, Textron Inc., AeroVironment Inc., Lockheed Martin Corporation, 3D Robotics Inc., Action Drone Inc., AguaDrone, Airbus SE, Autel Robotics USA LLC, CyPhy Works Inc., Delair, Dragonfly Innovations Inc., Hubsan, Insitu a Boeing Company, Kespry Inc., Parrot SA, Yuneec International Co. Ltd., PrecisionHawk Inc., Prox Dynamics AS (Prox Dynamics was acquired by FLIR Systems), Raptor Maps Inc., Raytheon Technologies Corporation, Science Applications International Corporation (SAIC), Shield AI Inc., Thales Group, Turkish Aerospace Industries Inc. (TAI), Vantage Robotics, Vayu Inc.
Asia-Pacific was the largest region in unmanned defense aerial vehicle market in 2023. Western Europe is expected to be the fastest-growing region in the unmanned defense aerial vehicle market during the forecast period. The regions covered in the unmanned defense aerial vehicle market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
The countries covered in the unmanned defense aerial vehicle market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Italy, Spain, Canada
The unmanned defense aerial vehicle market consists of sales of remotely piloted and unpiloted aerial vehicles for defense purposes such as carry weapons, mapping, communication, and destroy targets. Values in this market are factory gate values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.