Unmanned Aerial Vehicle Market Research Report - Forecast to 2023” – Market Analysis, Scope, Stake, Progress, Trends and Forecast to 2023

Airbus (France), Boeing (US), General Atomics (US), Lockheed Martin (US), Northrop Grumman Corporation (US), Textron Inc. (US), Thales Group (France), AeroVironment, Inc. (US), DJI (China), Parrot Drones SAS (France), PrecisionHawk (US), and 3D Robotics, Inc (US). and others are some of the prominent players profiled in MRFR Analysis and are at the forefront of competition in the global unmanned aerial vehicle market.

Unmanned Aerial Vehicle Market – Overview

The global unmanned aerial vehicle (UAV) market is growing at a rapid pace. According to a recent study report published by the Market Research Future, the use of UAVs is already influencing many companies and industries to look forward to their design, development, and manufacturing processes. The possible applications of UAVs are numerous, such as passenger carriage, cargo transportation, agricultural, and industrial. Currently, there are a number of investments by companies, such as Airbus, Boeing, AeroVironment, Inc., and DJI, which would significantly propel the market growth.

The UAVs are also used in numerous industrial applications, such as detection of leaks, corrosion, and other problems related to oil and gas rigs & pipelines. They are also used in transmission lines for vegetation management to monitor trees and prevent them from interfering with transmission lines. These UAVs prove economic feasibility for discrete site assessment, reliable and cost-effective inspection, and thus, increase the demand for UAVs in the global market.

The US is at the forefront of developing UAVs and has dominance in the overall market. In recent years, the US Department of Transportation (DOT) is focusing on the approval of the UAVs for commercial applications. The country houses companies such as AeroVironment Inc., Boeing, and Uber Technologies Inc., which are very active in the UAV market. Similarly, Europe is a key market in the global unmanned aerial vehicle market. The presence of more than eight manufacturers, including firms such as Airbus S.A.S, Lilium, and Volocopter GmbH is expected to boost the market in Europe, in the next two decades. The key drivers for the market in this region are the increasing joint ventures and partnerships and rapid technological advancements. Despite the UAV industry having both technical and economic importance, some significant barriers prevent its expansion.

Unmanned Aerial Vehicle (UAV) Market Report Information by Type (Fixed Wing, Multi Rotor), by Application (Commercial, Military), by Component (Airframe, Payload, Guidance Navigation & Control, Propulsion System), & by Region - Global Forecast to 2023.: https://www.marketresearchfuture.com/reports/unmanned-aerial-vehicle-uav-market-806