Small unmanned aerial vehicles Market
Size and Growth Rate:
According to
the recent report Small unmanned aerial vehicles Market was valued at USD 970
million in 2017 and projected to reach USD 2570 million by 2022 growing at a
CAGR of 49.55% during the forecast period 2017 to 2022.
Small unmanned
aerial vehicles can be remotely controlled by a pilot on the ground or
controlled by a board computer. The International Civil Aviation Organization
classified Small unmanned aerial vehicles in two types: aircraft with remote
control and autonomous aircraft. Due to legal and civil liability issues, the
use of autonomous aircraft is contrary to the regulations.
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Small Unmanned Aerial Vehicles Market
– Key Growth Driving Factors:
The world market for Small unmanned aerial vehicles is
increasing due to the increase in the use of Small unmanned aerial vehicles for
the application of the law, the need for advanced patrol systems for maritime
boundaries, high efficiency and technological advances. It is also helping the
market to grow with the rising demand for unmanned aerial systems to combat
terrorism and non-military applications. Large farmers use small unmanned aerial
vehicles to see the growth of crops far away. Commercial use of small unmanned
aerial vehicles is expected to be a new line of business of billions of dollars
in the coming years. Industrial applications for small unmanned aerial vehicles
include retail, media and entertainment, energy, mining, and metals. The market
for small unmanned aerial vehicles is limited by regulations on unmanned operation
in the civil air space, but it is expected that the imminent regulatory changes
open up the enormous potential of this technology.
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In addition, the factors that limit
the growth of the world market for small unmanned aerial vehicles are the lack
of qualified pilots, the lack of records and the strict regulations of the
airspace. Implementing a sense avoidance system in Small unmanned aerial vehicles
and increasing defense spending in Russia, Asia-Pacific and the Middle East are
the factors that will provide the market with ample growth opportunities over
the next few years.
Small Unmanned Aerial Vehicles Market
– Regional Presence:
North America leads the global market
due to the increase in the volume of application and production in the
commercial sector. It is expected that the European market will grow at a
significant pace in the coming years as law enforcement applications and
agriculture increase, and local regulations slow down. In addition, favorable
government regulations support the growth of the small unmanned aerial vehicles
market in the region. It is expected that the market in the Asia-Pacific region
will increase in the coming years, as the number of Small unmanned aerial vehicles
increases in regional agriculture.
Some of the global competitors of the
market for Small unmanned aerial vehicles
include Lockheed Martin, Boeing, Pin Mecanica Spa, Israel Space
Industry, Elbit Systems, Aeroville Lint and Airbus Group SE.
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