Small UAV Market: Current Analysis and Forecast (2022-2028)

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Global Small UAV Market was valued at 7 billion is expected to grow at a significant rate of around 15% during the forecast period 2022-2028. 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.

Small UAV Market Report Coverage

“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.

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“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.

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Research Methodology

Research Methodology for the Small UAV Market Analysis (2022-2028)

Analyzing the historical market, estimating the current market, and forecasting the future market of the global small UAV market were the three major steps undertaken to create and analyze the adoption of small UAVs in major regions globally. Exhaustive secondary research was conducted to collect the historical market numbers and estimate the current market size. Secondly, to validate these insights, numerous findings and assumptions were taken into consideration. Moreover, exhaustive primary interviews were also conducted, with industry experts across the value chain of the global small UAV market. Post assumption and validation of market numbers through primary interviews, we employed a top-down/bottom-up approach to forecasting the complete market size. Thereafter, market breakdown and data triangulation methods were adopted to estimate and analyze the market size of segments and sub-segments of the industry pertains to. Detailed methodology is explained below:

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Analysis of Historical Market Size

Step 1: In-Depth Study of Secondary Sources:

Detail secondary study was conducted to obtain the historical market size of the small UAV market through company internal sources such as annual reports & financial statements, performance presentations, press releases, etc., and external sources including journals, news & articles, government publications, competitor publications, sector reports, third-party database, and other credible publications.

Step 2: Market Segmentation:

After obtaining the historical market size of the small UAV market, we conducted a detailed secondary analysis to gather historical market insights and share for different segments & sub-segments for major regions. Major segments are included in the report as type and application. Further country-level analyses were conducted to evaluate the overall adoption of testing models in that region.

Step 3: Factor Analysis:

After acquiring the historical market size of different segments and sub-segments, we conducted a detailed factor analysis to estimate the current market size of the small UAV market. Further, we conducted factor analysis using dependent and independent variables such as various types and applications of small UAVs. A thorough analysis was conducted for demand and supply-side scenarios considering top partnerships, mergers and acquisitions, business expansion, and product launches in the small UAV market sector across the globe.

Current Market Size Estimate & Forecast

Current Market Sizing: Based on actionable insights from the above 3 steps, we arrived at the current market size, key players in the global small UAV market, and market shares of the segments. All the required percentage shares split, and market breakdowns were determined using the above-mentioned secondary approach and were verified through primary interviews.

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Estimation & Forecasting: For market estimation and forecast, weights were assigned to different factors including drivers & trends, restraints, and opportunities available for the stakeholders. After analyzing these factors, relevant forecasting techniques i.e., the top-down/bottom-up approach were applied to arrive at the market forecast for 2028 for different segments and sub-segments across the major markets globally. The research methodology adopted to estimate the market size encompasses:

• The industry’s market size, in terms of revenue (USD) and the adoption rate of the small UAV market across the major markets domestically
• All percentage shares, splits, and breakdowns of market segments and sub-segments
• Key players in the global small UAV market in terms of products offered. Also, the growth strategies adopted by these players to compete in the fast-growing market.

Market Size and Share Validation

Primary Research: In-depth interviews were conducted with the Key Opinion Leaders (KOLs) including Top Level Executives (CXO/VPs, Sales Head, Marketing Head, Operational Head, Regional Head, Country Head, etc.) across major regions. Primary research findings were then summarized, and statistical analysis was performed to prove the stated hypothesis. Inputs from primary research were consolidated with secondary findings, hence turning information into actionable insights.

Split of Primary Participants in Different Regions

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Market Engineering

The data triangulation technique was employed to complete the overall market estimation and to arrive at precise statistical numbers for each segment and sub-segment of the global small UAV market. Data was split into several segments & sub-segments post studying various parameters and trends in the areas of type and application in the global small UAV market.

The main objective of the Global Small UAV Market Study

The current & future market trends of the global small UAV market were pinpointed in the study. Investors can gain strategic insights to base their discretion for investments on the qualitative and quantitative analysis performed in the study. Current and future market trends determined the overall attractiveness of the market at a regional level, providing a platform for the industrial participant to exploit the untapped market to benefit from a first-mover advantage. Other quantitative goals of the studies include:

• Analyze the current and forecast market size of the small UAV market in terms of value (USD). Also, analyze the current and forecast market size of different segments and sub-segments.
• Segments in the study include areas of type and application.
• Defining and analysis of the regulatory framework for the small UAV
• Analyze the value chain involved with the presence of various intermediaries, along with analyzing customer and competitor behaviors of the industry.
• Analyze the current and forecast market size of the small UAV market for the major region.
• Major countries of regions studied in the report include Asia Pacific, Europe, North America, and the Rest of the World.
• Company profiles of the small UAV market and the growth strategies adopted by the market players to sustain in the fast-growing market.
• Deep dive regional level analysis of the industry

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