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.

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The US generates a very high demand for UAVs used for surveillance purposes. Although Canada made some considerable investments in the development of UAVs, the market is primarily dominated by the US, which is also the largest manufacturer of unmanned systems, globally. Therefore, the global UAV market is expected to grow at approximately CAGR more than 20% during the period 2018 to 2023.

On the basis of region, the global UAV market has also been segmented into five regions, namely, North America, Europe, Asia-Pacific, Middle East & Africa, and Latin America. North America had the largest share of the market in 2017, primarily due to the presence of the major companies such as AeroVironment, Inc. and PrecisionHawk combined with the availability of sophisticated technologies to deliver innovative solutions, in the region. The region leads the global market in terms of expenditure and technological advancements and has a large number of deployments of UAVs.

Segmentation:

Segmentation by Type: Fixed Wing, Multi Rotor.

Segmentation by Application: Commercial, Military.

Segmentation by Component: Airframe, Payload, Guidance Navigation & Control, Propulsion System.

Segmentation by Regions: North America, Europe, Asia-Pacific, Middle East & Africa, and Latin America.

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.

Key Players are:

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.

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https://www.marketresearchfuture.com/reports/unmanned-aerial-vehicle-uav-market-806

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