Summary

Global Small UAV Market is expected to grow at a significant rate of around 15% during the forecast period. The market for small UAVs is expected to continue to grow in the coming years, with factors such as technological advancements, increasing demand for drones in the commercial sector, and rising security concerns driving the market forward. One of the primary driving factors behind the growth of the small UAV market is technological advancements. Advances in technology have made it possible for drones to be smaller, lighter, and more affordable than ever before, while also increasing their capabilities. This has led to a wide range of applications for small UAVs, including aerial photography, surveying and mapping, search and rescue, and agriculture. Another factor driving the growth of the small UAV market is the increasing demand for drones in the commercial sector. Businesses are using drones to carry out a variety of tasks, including inspecting infrastructure, delivering packages, and monitoring crops. As the benefits of using drones in these applications become more widely recognized, demand for small UAVs is expected to continue to increase. Finally, rising security concerns are also driving the growth of the small UAV market. Governments and other organizations are using drones for surveillance and reconnaissance, as well as for border patrol and other security-related purposes. As security concerns continue to grow around the world, demand for small UAVs is expected to continue to rise.

Lockheed Martin Corporation; AiviewGroup; BAE Systems; AeroVironment, Inc.; DJI; Elbit Systems Ltd.; Grotmol Solutions AS; IAI; Saab AB; and Thales are some of the key players in the market. Several M&As along with partnerships have been undertaken by these players to facilitate customers with hi-tech and innovative products/technologies. For instance, DJI has launched Mavic 3 and Mavic 3 Cine as its latest camera drones. Successors to the company's Mavic 2 Pro and Mavic 2 Zoom, both the drones come with a Hasselblad-powered dual-camera system that boasts 5.1k video recording.

Insights Presented in the Report
“Amongst application, defence category to witness higher CAGR during the forecast period.”
Based on application, the market is segmented into defence and commercial & civil. The defence segment of the small unmanned aerial vehicle (UAV) market has experienced significant growth in recent years. There are several drivers behind this trend. Firstly, the increasing need for surveillance and intelligence gathering in military operations has driven the demand for small UAVs. Small UAVs can also perform reconnaissance missions without putting human lives at risk, which is particularly important in high-risk areas. Secondly, advances in technology have made small UAVs more capable and cost-effective than ever before. With the development of lightweight materials and high-resolution cameras, small drones can now fly longer and capture more detailed images than they could in the past. This has made them a more attractive option for military applications, where the ability to gather accurate intelligence quickly and efficiently is critical.

“Amongst type, the helicopter category to witness higher CAGR during the forecast period”
On the basis of type, the market is categorized into fixed wing, helicopter, and rotary blade. Among these Helicopter wing type segments witness a significant growth rate in the small UAV market due to several drivers. Firstly, the demand for UAVs in various applications such as military, civil, and commercial has been increasing, leading to a rise in demand for different types of UAVs, including small helicopters. Secondly, helicopter wing type UAVs offer several advantages over fixed-wing UAVs, such as the ability to hover and maneuver in tight spaces. This makes them suitable for tasks such as surveillance, inspection, and search and rescue operations. Finally, the cost-effectiveness of small helicopter wing type UAVs compared to manned aircraft is another driver of their growth in the market. They are more affordable to purchase and maintain than manned helicopters, and they can operate in hazardous conditions, reducing the risks to human life.

“North America to witness significant growth in upcoming forecast period.”
North America is expected to witness significant growth in the upcoming forecast period. This growth is primarily driven by several factors, including technological advancements, increasing investments in the UAV industry, and growing demand for UAVs in various applications. One of the major drivers of growth in the North American small UAV market is technological advancements. With the rapid advancements in technology, UAVs have become more advanced, sophisticated, and user-friendly. They are now equipped with advanced sensors, cameras, and software that allow them to perform a wide range of applications with greater efficiency and accuracy. For instance, recent developments in drone technology have enabled the use of AI-powered systems, which can be used for various applications such as surveillance, monitoring, and mapping. Another factor that is driving the growth of the North American small UAV market is the increasing investments in the industry. The growing demand for UAVs has led to increased investment by governments and private organizations in the research and development of UAV technology. These investments have led to the development of new and innovative UAV technologies, which are expected to drive the growth of the market. Moreover, the growing demand for UAVs in various applications is also contributing to the growth of the North American small UAV market. UAVs are increasingly being used in applications such as agriculture, construction, mining, and oil and gas, among others. For instance, UAVs are being used in the agricultural sector for crop monitoring, yield estimation, and soil analysis. In the construction sector, UAVs are being used for surveying, mapping, and monitoring construction sites.

Reasons to buy this report:
• The study includes market sizing and forecasting analysis validated by authenticated key industry experts.
• The report presents a quick review of overall industry performance at one glance.
• The report covers an in-depth analysis of prominent industry peers with a primary focus on key business financials, product portfolio, expansion strategies, and recent developments.
• Detailed examination of drivers, restraints, key trends, and opportunities prevailing in the industry.
• The study comprehensively covers the market across different segments.
• Deep dive regional level analysis of the industry.

Customization Options:
The global small UAV market can further be customized as per the requirement or any other market segment. Besides this, UMI understands that you may have your own business needs, hence feel free to contact us to get a report that completely suits your requirements.

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