DUBLIN--(BUSINESS WIRE)--Research and Markets (http://www.researchandmarkets.com/research/z6vkc4/vtol_uav_market) has announced the addition of the "VTOL UAV Market by Application (Military, Civil & Commercial, Homeland Security), Type (Multicopter, Helicopter, Hybrid), Size (Large, Medium, Small, Micro), Propulsion, Payloads, Geography - Global Forecast to 2020 " report to their offering.
The global VTOL UAV market is estimated to be valued at USD 2,235.40 Million in 2015 and is projected to reach USD 5,500 Million by 2020, at a CAGR of 19.73% from 2015 to 2020.
The growth in the market is attributed to factors such as increasing demand in commercial and law enforcement applications, better technological advancements, amended safety norms to perform complex operations with least human interventions, and reduced risks and cost associated with the use of VTOL UAVs.
The global VTOL UAV market is projected to witness a high growth in the next five years. The growth of this market is forecast to be driven by the increasing demand of VTOL UAVs in civil & commercial sector. The market is further driven by the demand for 3D mapping, oil & gas pipeline inspection, recreational activities, safety and surveillance. However, the market faces hurdles such as strict airspace regulations and social issues such as privacy and nuisance concern.
The high growth potential in emerging markets and increase in demand for UAVs are anticipated to provide growth opportunities to the players in the VTOL UAV market. However, lack of skilled and trained pilots and stringent regulatory framework are the key challenges for the industry players.
The global VTOL UAV market by application & type has fastest growth for countries in the Asia-Pacific region. The VTOL UAV market in the countries, such as Japan and India of the Asia-Pacific region, is projected to grow at a faster pace from 2015 to 2020. The VTOL UAV market in these countries is expected grow for military and commercial applications in the next five years.
Major strategic developments are taking place in the field of VTOL UAV, which exhibit high-growth potential in the near future. Dominant market players such as Northrop Grumman Corporation (U.S.), DJI (China), Lockheed Martin Corporation (U.S.) and Israel Aerospace Industries Limited (Israel) introduced several technologically advanced systems, and entered into strategic agreements and partnerships in order to keep pace with the industry trends.
Key Topics Covered:
2 Research Methodology
3 Executive Summary
4 Premium Insights
5 Market Overview
6 Industry Trends
7 VTOL UAV Market, By Application
8 VTOL UAV Market, By Type
9 VTOL UAV Market, By Size
10 VTOL UAV Market, By Propulsion System
11 VTOL UAV Market, By Payload
12 Global VTOL UAV Market, By Geography
13 Competitive Landscape
14 Company Profiles
- Aerovironment, Inc.
- Dji Innovations
- Israel Aerospace Industries Ltd.
- Lockheed Martin Corporation
- Northrop Grumman Corporation
- SAAB AB
- Schiebel Elektronische Gerate GmbH
- Textron Inc.
- The Boeing Company
- Turkish Aerospace Industries, Inc.
For more information visit http://www.researchandmarkets.com/research/z6vkc4/vtol_uav_market