Unmanned Aerial Vehicle Market Share, Size, Trends 2028

Unmanned Aerial Vehicle Market

The Unmanned Aerial Vehicle Market is estimated to expand at a significant CAGR over the forecast period

The factors driving the growth of Unmanned Aerial Vehicle (UAV) Market includes increasing use of unmanned ariel vehicles by militaries around the world for mapping, surveillance and determining weather conditions of certain areas, commercialization of drones and rapid growth in the defense manufacturing. According to the report published by India Brand Equity Foundation (IBEF), the defense production by the public sector Units (PSUs) in India was estimated around USD 7.09 billion during FY 2020-2021, registering a growth of 12.36% YoY, which is expected to boost the market growth in the approaching years. Moreover, the increase in Government’s expenditure on the military sector, rise in the number of defense start-ups, agreements between military agencies worldwide and expansion of the smart cities network, are some of the additional factors supplementing in the Unmanned Aerial Vehicle Market size. As per ExecutiveGov, the Government of the United States has increased the budget allocation on the Defense sector to USD 722 billion for FY 2022, rising by USD 17 billion as compared to FY 2021, and further plans to increase the budget to USD 737 billion for FY 2023, which will accelerate the market growth in the upcoming years.

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However, the growth of Unmanned Aerial Vehicle Market is hindered due to high cost of Unmanned Ariel Vehicles.

Based on End-use the Media & Entertainment segment is predicted expand at a remarkable CAGR during the forecast period

Increasing use of Unmanned ariel vehicles in filmmaking and journalism and rise in the number of entertainment production houses across the globe, are some of the factors responsible for the segment’s growth.

Based on Function, the special purpose drones segment projected to dominate the market over the forecast period

Increase in the deployment of special purpose drones by militaries during aerial combat duties and swarm tasks, are propelling the segment’s growth.

Based on Region, the Asia-Pacific region is estimated to hold the highest market share during the forecast period

Increasing use of UAV in border areas and maritime surveillance activities, rising demand for commercial drones in the agriculture sector, rapid growth in the defense manufacturing, increasing Government expenditure on the defense forces in South Asia and high population densities, are some of the important factors augmenting the market growth in Asia-Pacific.

Market Segmentation

Segmentation by Point of Sale

• OEM

• Aftermarket

Segmentation by Systems

• Platform

• Payload

• Datalink

• Ground Control Station

• UAV Launch and Recovery System

Segmentation by Platform

• Civil & Commercial

• Defense & Government

Segmentation by Function

• Special Purpose Drones

• Passenger Drones

• Inspection & Monitoring Drones

• Surveying & Mapping Drones

• Spraying & Seeding Drones

• Others

Segmentation by End-Use

• Military

• Public Safety & Security

• Agriculture

• Insurance

• Energy

• Mining & Quarrying

• O&G

• Transport, Logistics & Warehousing

• Journalism & Media

• Arts, Entertainment & Recreation

• Healthcare & Social Assistance

Segmentation by Application

• Military

• Commercial

• Government & Law Enforcement

• Consumer

Segmentation by Type

• Fixed Wing

• Rotary Wing

Segmentation by Operation Mode

• Remotely Piloted

• Optionally Piloted

• Fully Autonomous

Segmentation by MTOW

• <25 KG

• 25-170 KG

• >170 KG

Segmentation by Range

• Visual Line of Sight

• Extended Visual Line of Sight

• Beyond Visual Line of Sight

Segmentation by Region

• Asia Pacific

  • China

  • Japan

  • India

  • Rest of APAC

• North America

  • United States of America

  • Canada

• Europe

  • United Kingdom

  • Germany

  • France

  • Spain

  • Rest of Europe

• RoW

  • Brazil

  • South Africa

  • Saudi Arabia

  • UAE

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