PUBLISHER: The Business Research Company | PRODUCT CODE: 1464213
PUBLISHER: The Business Research Company | PRODUCT CODE: 1464213
A vertical take-off and landing (VTOL) unmanned aerial vehicle (UAV) is an aircraft designed to take off, hover, and land vertically, eliminating the need for a runway. These UAVs are developed to enhance operational efficiency, save time and costs, and streamline procedures. They are particularly well-suited for inspection tasks due to their ability to hover steadily and seamlessly transition between airborne and stationary modes.
The main types of vertical take-off and landing (VTOL) UAVs include helicopters, multicopters, and hybrids. Helicopters are aircraft that achieve VTOL by using one or more large horizontal rotors. They come in various sizes, ranging from large to micro, and can carry payloads such as intelligence, surveillance, and reconnaissance (ISR) equipment, cameras, telemetry devices, sensors, and autopilot systems. These VTOL UAVs find applications in military, homeland security, civil, and commercial sectors.
The take-off and landing (VTOL) UAV market research report is one of a series of new reports from The Business Research Company that provides take-off and landing (VTOL) UAV market statistics, including take-off and landing (VTOL) UAV industry global market size, regional shares, competitors with a take-off and landing (VTOL) UAV market share, detailed take-off and landing (VTOL) UAV market segments, market trends and opportunities, and any further data you may need to thrive in the take-off and landing (VTOL) UAV industry. This take-off and landing (VTOL) UAV 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 vertical take-off and landing (VTOL) UAV market size has grown rapidly in recent years. It will grow from $6.71 billion in 2023 to $7.87 billion in 2024 at a compound annual growth rate (CAGR) of 17.3%. The growth in the historic period can be attributed to increased demand for vertical take-off and landing (VTOL) unmanned aerial vehicles (UAVs) in environmental monitoring, disaster response and relief efforts, military applications, and global security concerns.
The vertical take-off and landing (VTOL) UAV market size is expected to see rapid growth in the next few years. It will grow to 14.76 billion in 2028 at a compound annual growth rate (CAGR) of 17.0%. The growth in the forecast period can be attributed to the increased utilization of vertical take-off and landing (VTOL) unmanned aerial vehicles (UAVs) in energy infrastructure inspection, advancements in autonomy and artificial intelligence, widespread adoption of electric propulsion, and the commercialization of new applications. Major trends in the forecast period include rapid technological advancements, the dominance of electric propulsion, integration of artificial intelligence, and a focus on sustainability and green initiatives.
The projected growth of the vertical take-off and landing (VTOL) UAV market is driven by the expanding military and civil applications. In the realm of military and civil applications, technologies, products, or services find utilization across various sectors, encompassing military organizations and civilian entities such as businesses, governments, or individuals. VTOL UAVs play a pivotal role in applications such as structural inspections of bridges, power lines, and pipelines. Their versatility, maneuverability, and operational flexibility make VTOL UAVs indispensable for intelligence, surveillance, target acquisition, and reconnaissance (ISTAR) purposes in both military and civil contexts. Notably, the Stockholm International Peace Research Institute reported a 4.2% increase in arms sales in 2022, reaching $123 billion, and U.S. defense spending witnessed a substantial $71 billion surge between 2021 and 2022, according to the Peter G. Peterson Foundation. The heightened adoption of VTOL UAVs across diverse applications is a key driver fueling market growth.
Leading enterprises in the vertical take-off and landing (VTOL) UAV sector are strategically focusing on developing cutting-edge solutions, featuring highly reliable power systems and locking propeller designs to secure a competitive advantage. These advancements contribute to the effectiveness of missions while preserving the critical capability of vertical takeoff and landing. In a notable instance, T-DRONES, a manufacturer based in China, introduced the VA25 in June 2023, a novel fixed-wing VTOL UAV tailored for industrial use. Boasting a 2.5m wingspan, a 13kg takeoff weight, and an impressive 210-minute flight time with a 1kg payload, the VA25 incorporates a frame made of carbon fiber composite PVC, coupled with a highly reliable power system and a locking propeller design, significantly enhancing its flight duration. This underscores the industry's commitment to advancing VTOL UAV capabilities through technological innovation.
In October 2022, Sierra Nevada Corporation, a prominent U.S.-based aerospace and defense company, completed the acquisition of Volansi Inc., a developer of autonomous vertical takeoff and landing (VTOL) UAVs. This undisclosed acquisition is geared towards expanding Sierra Nevada's portfolio and capabilities within the unmanned aerial vehicle (UAV) space, particularly emphasizing the vertical takeoff and landing (VTOL) drone segment. The integration of Volansi's assets and expertise reinforces Sierra Nevada's dedication to delivering next-generation VTOL platforms and broadening its offerings within the UAV market. This corporate initiative positions Volansi Inc. as a valuable addition to Sierra Nevada's endeavors in advancing UAV technologies across various industries.
Major companies operating in the vertical take-off and landing (VTOL) UAV market report are Boeing Co., Airbus SE, Honeywell International Inc., Thales Group, Bell Textron Inc., Textron Systems, SZ DJI Technology Co. Ltd., Yuneec International Inc., AeroVironment Inc., Joby Aviation Inc., Lilium GmbH, Volocopter GmbH, Aurora Flight Sciences, Vertical Aerospace, Quantum Systems GmbH, Wingcopter GmbH, Elroy Air Inc., SkyDrive Inc., Terrafugia Inc., 3D Robotics Inc., Urban Aeronautics, Kitty Hawk Corporation, ALTI UAS, EHang Holding, Zero Robotics Inc.
North America was the largest region in the vertical take-off and landing (VTOL) UAV market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the vertical take-off and landing (VTOL) UAV market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The countries covered in the vertical take-off and landing (VTOL) UAV market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The vertical take-off and landing (VTOL) UAV market consists of sales of multirotor UAVs, fixed-wing VTOL UAVs, tail-sitter UAVs, and tiltrotor UAVs. 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.
Vertical Take-Off And Landing (VTOL) UAV 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 vertical take-off and landing (VTOL) UAV 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 vertical take-off and landing (VTOL) UAV ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The vertical take-off and landing (VTOL) UAV 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.
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