Multirotor UAV Market is estimated to witness a CAGR of 24% by the year 2023


Posted October 23, 2020 by nita01

Multirotor UAV Market Is Estimated To Witness A CAGR Of More Than 24% During The Forecast Period From 2018 To 2023
 
Multirotor UAV Market Is Estimated To Witness A CAGR Of More Than 24% During The Forecast Period From 2018 To 2023.
Market Highlights
The functions of multirotor UAV include image capturing and video recording in remote or hazardous places, which act as a driving factor for the multirotor UAV market growth. These UAVs consist of night vision cameras, which are majorly used for gathering intelligence, weather/traffic monitoring, media and entertainment purposes, environmental research, and agricultural/industrial applications. As a result of their functions, it is estimated that the multirotor UAV market would witness a significant growth in the forthcoming years.
The ability of such aerial vehicles to perform in extreme conditions is one of the key factors for their increased adoption in the commercial market. Moreover, due to the recent technological advancements, multirotor UAVs are widely used in the fields of mining, chemicals, to detect the nuclear and radioactive materials, and construction. Factors such as low operational costs, flexibility in operations, and low cost of ownership also influence the multirotor UAV market growth. In addition, extensive R&D investment is another key reason that leads to the market growth. The rising threats of terrorist attacks, political and regional disputes, and border conflicts are boosting the demand for multirotor UAVs, across the globe. However, the market is adversely affected by factors such as air traffic management rules and limited battery lives or endurance of UAVs. economic downturn and defense budget cuts in some countries in North America and Europe hinder the market growth.
Key Players
The key players in multirotor UAV market are Israel Aerospace Industries (Israel), AeroVironment, Inc. (U.S.), DJI Innovations (China), 3D Robotics, Inc. (U.S.), Microdrones GMBH (Germany), Coptercam (Australia), Cyberhawk Innovations Ltd. (U.K), Aeryon Labs Inc. (Canada), and Draganfly Innovations, Inc. (Canada).
Scope of the Report
This study provides an overview of the multirotor UAV market, tracking three market segments across five geographic regions. The report studies key players, providing a five-year annual trend analysis that highlights market size, volume, and share for North America, Europe, Asia-Pacific (APAC), the Middle East and Africa, Latin America. The report also provides a forecast, focusing on the market opportunities for the next five years for each region. The scope of the study segments the global multirotor UAV market by its application, rotors, payload, and region.
By Application

Military
Homeland security
Commercial
By Rotors

Less than 10
More than 10
By Payload

Cameras
Electro-Optical Sensors
GPS
Lidar
Laser Designator
Others
By Region

North America
Europe
Asia-Pacific
Middle East and Africa
Latin America
Access Report @ https://www.marketresearchfuture.com/reports/multirotor-uav-market-6244
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Categories Aerospace
Tags Multirotor UAV Market
Last Updated October 23, 2020