Multirotor UAV Market Research Report – Forecast to 2023
Multirotor UAV Market Research Report – Forecast to 2023
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Multirotor UAV Market Research Report – Forecast to 2023
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Copyright © 2017 Market Research Future.
Multirotor UAV Market Research Report – Forecast to 2023
The multirotor UAV market is estimated to witness a CAGR of more than 24% during the forecast period from 2018 to 2023.
The functions of multirotor UAV include image capturing and video recording in remote or hazardous places, which act as a driving factor for the multirotor UAV market growth. These UAVs consist of night vision cameras, which are majorly used for gathering intelligence, weather/traffic monitoring, media and entertainment purposes, environmental research, and agricultural/industrial applications. As a result of their functions, it is estimated that the multirotor UAV market would witness a significant growth in the forthcoming years. The ability of such aerial vehicles to perform in extreme conditions is one of the key factors for their increased adoption in the commercial market. Moreover, due to the recent technological advancements, multirotor UAVs are widely used in the fields of mining, chemicals, to detect the nuclear and radioactive materials, and construction. Factors such as low operational costs, flexibility in operations, and low cost of ownership also influence the multirotor UAV market growth. In addition, extensive R&D investment is another key reason that leads to the market growth. The rising threats of terrorist attacks, political and regional disputes, and border conflicts are boosting the demand for multirotor UAVs, across the globe. However, the market is adversely affected by factors such as air traffic management rules and limited battery lives or endurance of UAVs. economic downturn and defense budget cuts in some countries in North America and Europe hinder the market growth.
Geographically, the global multirotor UAV market has been segmented into five major regions such a North America, Latin America, Asia Pacific, Europe, and the Middle East and Africa. The Asia Pacific region commands for the major share in the global multirotor UAV market owing to the high demand for technologically advanced unmanned aerial vehicles in the military and defense sector due to increased threat of terrorist attacks and emergence for enhanced border security in this region. The North America region is forecasted to project noteworthy growth in the global multirotor UAV market owing to the increased adoption of advanced technology and high investment from defense sector for adopting advanced solutions for improving surveillance activities in this region. Rise in incorporation of technologically advanced solutions for strengthening the military and defense sector in the Europe region is major propelling the growth of multirotor UAV market in this region. Existence of geopolitical disputes rise in terrorist activities and high demand for
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Multirotor UAV Market Research Report – Forecast to 2023
top-class surveillance system for conservation of wildlife are some of the major factors that are fueling the growth of the multirotor UAV market in the Middle East and Africa region. Whereas, increased investment for improving border security is driving the multirotor UAV market in the Latin America region.
This study provides an overview of the multirotor UAV market, tracking three market segments across five geographic regions. The report studies key players, providing a five-year annual trend analysis that highlights market size, volume, and share for North America, Europe, Asia-Pacific (APAC), the Middle East and Africa, Latin America. The report also provides a forecast, focusing on the market opportunities for the next five years for each region. The scope of the study segments the global multirotor UAV market by its application, rotors, payload, and region.
By Application •
Military
•
Homeland security
•
Commercial
By Rotors •
Less than 10
•
More than 10
By Payload •
Cameras
•
Electro-Optical Sensors
•
GPS
•
Lidar
•
Laser Designator
•
Others
By Region
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Multirotor UAV Market Research Report – Forecast to 2023
•
North America
•
Europe
•
Asia-Pacific
•
Middle East and Africa
•
Latin America
The key players in multirotor UAV market are Israel Aerospace Industries (Israel), AeroVironment, Inc. (U.S.), DJI Innovations (China), 3D Robotics, Inc. (U.S.), Microdrones GMBH (Germany), Coptercam (Australia), Cyberhawk Innovations Ltd. (U.K), Aeryon Labs Inc. (Canada), and Draganfly Innovations, Inc. (Canada).
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Multirotor UAV Market Research Report – Forecast to 2023
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