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COVID-19 Impacts | UAV Market Research Will Accelerate at a CAGR of Almost 16% | Technavio

December 28, 2020 GMT
Technavio has announced its latest market research report titled Global UAV Market 2020-2024 (Graphic: Business Wire)
Technavio has announced its latest market research report titled Global UAV Market 2020-2024 (Graphic: Business Wire)

LONDON--(BUSINESS WIRE)--Dec 28, 2020--

The new UAV market research from Technavio indicates negative growth in the short term as the business impact of COVID-19 spreads.

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Technavio has announced its latest market research report titled Global UAV Market 2020-2024 (Graphic: Business Wire)

Get detailed insights on the COVID-19 pandemic crisis and recovery analysis of the UAV market.

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“One of the primary growth drivers for this market is the increasing defense spending on unmanned technologies,” says a senior analyst for industrials at Technavio. The vendors should focus on growth prospects in the fast-growing segments while maintaining their positions in the slow-growing segments. As the markets recover Technavio expects the UAV market size to grow by USD 20.58 billion during the period 2020-2024.

UAV Market Segment Highlights for 2020

  • The UAV market is expected to post a year-over-year growth rate of 7.76%.
  • Based on the application, defense and homeland security saw maximum growth in 2019. Factors such as increasing defense spending on unmanned technologies are driving market growth.
  • The growth of the segment will be significant during the forecast period.

Regional Analysis

  • 45% of the growth will originate from the North America region.
  • The US is the key market for UAVs in North America. This report provides an accurate prediction of the contribution of all segments to the growth of the UAV market size.

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Click here to learn about report detailed analysis and insights on how you can leverage them to grow your business.

Related Reports onIndustrialsInclude:

Global Remote Sensing UAV Market - The remote sensing UAV market is segmented by application (defense and commercial and civil) and geography (North America, Europe, APAC, South America, and MEA). Click Here to Get an Exclusive Free Sample Report

Global Solar-powered UAV Market - The solar-powered UAV market is segmented by end-user (Defense and Commercial) and geography (North America, Europe, APAC, South America, and MEA). Click Here to Get an Exclusive Free Sample Report

Notes:

  • The UAV market size is expected to accelerate at a CAGR of almost 16% during the forecast period.
  • The UAV market is segmented by application (Commercial and civil and Defense &homeland security) and geography (North America, Europe, APAC, MEA, and South America).
  • The market is fragmented due to the presence of many established vendors holding significant market share.
  • The research report offers information on several market vendors, including Aeronautics Group, AeroVironment Inc., Elbit Systems Ltd., FLIR Systems Inc., General Atomics, Israel Aerospace Industries Ltd., Lockheed Martin Corp., Northrop Grumman Corp., SZ DJI Technology Co. Ltd., and The Boeing Co.

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About Us

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

View source version on businesswire.com:https://www.businesswire.com/news/home/20201228005252/en/

CONTACT: Technavio Research

Jesse Maida

Media & Marketing Executive

US: +1 844 364 1100

UK: +44 203 893 3200

Email:media@technavio.com

Website:www.technavio.com/

KEYWORD:

INDUSTRY KEYWORD: AEROSPACE MANUFACTURING

SOURCE: Technavio Research

Copyright Business Wire 2020.

PUB: 12/28/2020 02:44 PM/DISC: 12/28/2020 02:44 PM

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