May 01, 2022, 22:45 EST
Shibuya-ku, Tokyo, Japan, Japan, May 01, 2022, 22:45 /Comserve / -- According to Research Dive analysis, the global UAV drone market is estimated to generate a revenue of $ 55,649.0 million by 2027, increasing from $ 19,528.6 million in 2019, at a healthy CAGR of 19.9%.
The global UAV drone market experienced a decline in the growth rate at the time of COVID-19 pandemic. Due to complete lockdown across the globe all the places were closed. At this time, the drones played a crucial role for many end-use industries. Moreover, the drones were used by the government officials to monitor the contaminated places and keep monitoring movement of people. Drones unleashed the option of delivering essentials without human movement and tracking people for their safety during the pandemic, but this use was restricted due to stringent government rules and regulations with respect to use of drones. The extensive government rules and regulations to fly drones is predicted to hinder the market growth during the pandemic.
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UAV Drone Market Analysis:
Increasing use of UAVs in multiple end-use industries for various operations is predicted to be a major driving factor for the global UAV region market in the estimated period. UAVs are used in military & defense, civil & commercial applications, agriculture, and construction. For instance, in the construction industry, drones are used to collect visual data that provide detailed maps of construction sites which gives better understanding to the people working there. Moreover, the collected information can be communicated with internal teams and labors to increase safety in the construction areas with pictorial depiction of the placing of dangerous equipment and materials. Due to the multiple benefits of the UAV’s drones in the end-use industry are implementing the use of drones vastly which is predicted to drive the market in the estimated period.
Restrictions imposed on the commercial use of UAVs in various countries is predicted to be the biggest restraint for the global UAV market in the estimated period. The government bodies of various nations have imposed various rules and regulation for anyone to fly a drone at any desired location.
Based on product, the global UAV drone market is divided into fixed-wing, rotary blade, and hybrid. The rotary blade sub-segment is predicted to have the highest growth rate and generate a revenue of $13,350.6 million by 2027.
Based on application, the UAV drone market is classified into the military & defense, retail, construction, agriculture, entertainment, law enforcement, and others application. The military and defense sub-segment garnered $13,275.3 million in 2019 and is projected to grow exponentially by 2027.
Based on the end-user, the UAV drone market is segmented into the military, consumer, and civil/commercial. The military sub-segment is predicted to grow significantly, and it is expected to cross $37,801.1 million by 2027.
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Based on geographical scope, the market was investigated across North America, Europe, Asia-Pacific, and LAMEA. The Asia-Pacific UAV drone market is anticipated to rise at a growth rate of 21.7% by 2027 from the revenue generated in 2019.
The companies involved in the global UAV drone market are General Atomics, Northrop Grumman, Textron Inc., Boeing, SZ DJI, Parrot, 3D Robotics, Aeryon Labs, Aerovironment, and Thales, among others.
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