The Global UAV Market's Journey to $38.3 Billion by 2027

1
The Global UAV Market's Journey to 38.3 Billion
by 2027
The report on the UAV Market highlights the
remarkable projection of the market from USD
26.2 billion in 2022 to USD 38.3 billion by 2027,
reflecting a robust 7.9 CAGR. This growth is
driven by
the increasing unmanned aerial both commercial
adoption of systems in applications operations
and military worldwide.
The UAV market has experienced a steady rise in
acceptance globally, owing to their
cost-effectiveness and continuous technological
advancements. Drones are now in high demand,
serving various purposes, from law enforcement to
commercial activities. Download PDF Brochure
_at_ https//www.marketsandmarkets.com/pdfdownloadNew
.asp?id662 Key Market Players Major players in
the UAV market include DJI (China), Parrot Drone
SAS (France), Israel Aerospace Industry Ltd.
(Israel), AeroVironment, Inc. (US), and Lockheed
Martin Corporation (US). One of the key drivers
for the growing UAV market is the increasing
demand for military C4ISR capabilities,
utilizing drones to gather critical data and
intelligence in military missions. These
capabilities, enhanced by AI and machine
learning, play a vital role in improving defense
strategies, reconnaissance, and intelligence
frameworks. Governments worldwide are rapidly
adopting these technologies to bolster their
defense arsenals. The defense government
segment within the UAV market, particularly the
strategic type, has dominated in 2022, driven by
the high value of strategic drones like HALE and
MALE. Tactical UAVs, operating at intermediate
altitudes and offering flexibility for military
applications, are also in demand, bridging the
gap between smaller and larger platforms. In
terms of function, special purpose drones,
including combat UAVs and swarm drones, play a
significant role in military operations. These
drones are designed for specific tasks, such as
aerial combat and lethal missions. Additionally,
they include exo-stratospheric drones, serving
as launch-effect vehicles. The OEM segment within
the UAV market is expected to witness the highest
CAGR, driven by the increased demand for
next-generation unmanned aircraft, automation
2
of drones, technological advancements, and the
expanding aerospace defense industry. Asia
Pacific stands out as a high-growth potential
market for UAVs, with China leading the region
due to its role as a major global drone
manufacturer. China's focus on tactical UAVs for
civil and defense applications has led to
increased demand not only within Asia Pacific
but also in Africa and the Middle East. Ask for
Sample Report _at_ https//www.marketsandmarkets.com/
requestsampleNew.asp?id662 About
MarketsandMarkets MarketsandMarkets has been
recognized as one of Americas best management
consulting firms by Forbes, as per their recent
report. MarketsandMarkets is a blue ocean
alternative in growth consulting and program
management, leveraging a man-machine offering to
drive supernormal growth for progressive
organizations in the B2B space. We have the
widest lens on emerging technologies, making us
proficient in co-creating supernormal growth for
clients. Earlier this year, we made a formal
transformation into one of America's best
management consulting firms as per a survey
conducted by Forbes. The B2B economy is
witnessing the emergence of 25 trillion of new
revenue streams that are substituting existing
revenue streams in this decade alone. We work
with clients on growth programs, helping them
monetize this 25 trillion opportunity through
our service lines - TAM Expansion, Go-to-Market
(GTM) Strategy to Execution, Market Share Gain,
Account Enablement, and Thought Leadership
Marketing. Built on the 'GIVE Growth' principle,
we work with several Forbes Global 2000 B2B
companies - helping them stay relevant in a
disruptive ecosystem. Our insights and
strategies are molded by our industry experts,
cutting-edge AI-powered Market Intelligence
Cloud, and years of research. The KnowledgeStore
(our Market Intelligence Cloud) integrates our
research, facilitates an analysis of
interconnections through a set of applications,
helping clients look at the entire ecosystem and
understand the revenue shifts happening in their
industry. To find out more, visit
www.MarketsandMarkets.com or follow us on
Twitter, LinkedIn and Facebook. Contact Mr.
Aashish Mehra MarketsandMarkets INC. 630
Dundee Road Suite 430 Northbrook, IL 60062 USA
1-888-600-6441 Email sales_at_marketsandmarkets.com