DUBLIN--(BUSINESS WIRE)--The "Unmanned Aerial Vehicle (UAV) Market to 2025 - Global Analysis and Forecasts by Component by Type and Application" report has been added to ResearchAndMarkets.com's offering.
The UAV market is expected to grow US$ 51.85 billion by 2025 from US$ 11.45 billion in 2016.
In 2017, the UAV industry marked a significant growth in UAV sales as well as software licenses. This has created aggressive competition in the market, company layoffs, low entry barriers, and reorganizations and consolidations. The commercial application of UAV has increased considerably, which resulted in companies providing better services and enhanced products to the users.
The global market for UAV exhibit mediocre growth in near future. Some of the major driving factors contributing to the market growth increasing military budgets of several countries, and rising adoption of UAVs in commercial sector. However, absence of defined legal regulations in is the major restraining factors behind the growth of UAV market during the forecast period.
UAV market by application is segmented into Military & Defense, Retail, Media & Entertainment, Personal, Agriculture, Industrial, Law Enforcement, and Construction among others. The increasing adoption of UAVs among different industries such as mining, oil & gas, telecommunications and retail among others is anticipated to influence the market growth. Further, the rising trend of drone delivery service is expected to bolster the market during the forecast period.
For instance, countries in Africa such as Rwanda, Malawi, Tanzania, and Cameroon are progressively implementing drone delivery services. Recently, operational drone delivery service in Iceland has been launched. However, drone delivery service in US is still on its testing stage and is anticipated to launch soon with the changes in government regulations.
Also, the drone delivery service will provide potential opportunity to companies in emerging economies that still faces issues related to lack of transportation infrastructure. Further, JD.com, one of the China's biggest online retailer is testing UAVs capable of carrying up to a ton of cargo. The company is anticipated to build a fully autonomous warehouse and is expected to create an autonomous delivery network using UAVs.
Key Topics Covered:
1 Table of Contents
3 Key Takeaways
4 UAV Market Landscape
5 Global UAV Market - Key Industry Dynamics
6 UAV Market - Global
7 Global UAV Market Analysis - By Components
8 Global UAV Market Analysis - By Type
9 Global UAVs Market Analysis - Application
10 Global UAV Market - Geographical Analysis
11 Industry Landscape
12 Competitive Landscape
13 Global UAV Market - Key Company Profiles
- 3D Robotics, Inc
- AeroVironment, Inc
- Northrop Grumman Corporation
- Parrot SA
- PrecisionHawk Inc
- senseFly SA
- Yuneec International Co. Ltd
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