Pune, India -- (SBWIRE) -- 10/11/2018 -- Global VTOL UAV Market is expected to have phenomenal growth during the forecast period2018-2023.
The global VTOL UAV market is estimated to witness approximately 15% CAGR from 2018 to 2023. Increasing rate of terrorism and rising military and defense spending across the world are expected to contribute to the growth of this market during the forecast period. Technological advancement in the VTOL UAV market, coupled with high demand for drones from the military and defense sectors, is responsible for the largest revenue shares of North America in the VTOL market. Asia Pacific is expected to be the fastest growing market due to the increasing adoption rate of VTOL UAV in the region.
The global VTOL UAV market generated a revenue of USD 1,987.25 million in the year 2016. This high scaleup in revenue of market growth during the forecast period, due to introduction of new range of programs that includes the growing technological capability of VTOL UAV technologies.
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The key players in the global VTOL UAV market are:
- Northrop Grumman Corporation (U.S.)
- DJI Innovations (China)
- Lockheed Martin Corporation (U.S.)
- Israel Aerospace Industries Ltd. (Israel)
- Schiebel Elektronische Gerate GmbH (Austria)
- AeroVironment Inc. (U.S.)
- Saab Group (Sweden)
- Textron Inc. (U.S.)
- The Boeing Company (U.S.)
- Turkish Aerospace Industries, Inc. (Turkey)
Commercial segment is expected to dominate the global VTOL UAV market by platform during the forecast period
The United States is the largest researcher, producer, and user of VTOL UAVs and military drones. U.S. would account for more than 75% of the total military worldwide R&D spending on VTOL UAV during the forecast period. North America is accounted for the largest market share owing to the usage of armed drones for the security reasons. Currently, usage of artificial intelligence in UAVs is widening the applicability of this market.
Globally, the VTOL UAV market is expanding due to the rise in innovative technologies in the aerospace sector. For example, in 2018, Textron demonstrated X5-55 VTOL unmanned aerial vehicle at the AUVSI Xponential show in Colorado, U.S. This X5-55 drone is specifically built for surveillance, reconnaissance, intelligence purposes, and communication relay.
Scope Of Report
This research report provides insights into various levels of analysis, such as industry analysis and market share analysis for the leading industry competitors, along with their profiles. It also helps in studying the target segments by providing views on the emerging & high-growth segments. The market data comprises the basic assessment of the competitive scenarios and strategies in the global VTOL UAV market, including high-growth regions and/or countries, and political and economic environments. The project report further provides both – historical market values and pricing & cost analysis
- North America
- Asia Pacific
- Middle East and Africa
- Latin America
Based on type, multi rotor drones are expected to grow at a faster pace as compared to their fixed wing counterparts. Multi rotor drones have various benefits such as the ease of control and use, among others, they have short flight times and lesser payload capacity when compared to the fixed-wing drones. However, its ability to hover makes it apt for operating in confined areas. Moreover, camera control is also comparatively easier. In addition, several new startups and established companies are keen on developing multi-rotor drones.
On the basis of platform, the millitary segment accounted for a highr share than commercial segment in 2017. Countries such as the U.S., the U.K, Germany, China, and France are engaging in high R&D investments on VTOL UAVs, primarily for the provision of security services and surveillance. Market players are focusing on making these unmanned systems smaller and lighter, so that they are more feasible, approachable, and effective.
Based on region, North America accounted for the largest share in the global market in year 2017 as the U. S. Navy is engaged in the development of VTOL UAVs, which can be integrated with the naval fleet for sea-based surveillance. In addition, the region is engaged in the development of multipurpose VTOL UAVs for various land-based military operations, to provide strong support to the armed forces. It leads the global market in terms of expenditure and technological advancements and has deployed several drones. The U.S. generates a very high demand for drones used for surveillance purposes.
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Table Of Content
1 Executive Summary
2 Scope Of The Report
2.1 Market Definition
2.2 Scope Of The Study
2.2.2 Research Objective
2.3 Research Process
2.3.1 Primary Research
2.3.2 Secondary Research
2.4 Market Size Estimation
2.5 Forecast Model
3 Market Landscape
3.1 Porter's Five Forces Analysis
3.1.1 Threat Of New Entrants
3.1.2 Bargaining Power Of Buyers
3.1.3 Bargaining Power Of Suppliers
3.1.4 Threat Of Substitutes
3.1.5 Segment Rivalry
3.2 Value Chain/Supply Chain Analysis
4 Market Dynamics
4.2 Market Drivers
4.3 Market Restraints
4.4 Market Opportunities
4.5 Market Trends
List Of Tables
Table 1 Global Vertical Take-Off And Landing UAV Market: By Region, 2018-2023
Table 2 North America Vertical Take-Off And Landing UAV Market: By Country, 2018-2023
Table 3 Europe Vertical Take-Off And Landing UAV Market: By Country, 2018-2023
Table 4 Asia Pacific Vertical Take-Off And Landing UAV Market: By Country, 2018-2023
Table 5 RoW Vertical Take-Off And Landing UAV Market: By Country, 2018-2023
Table 6 Global Vertical Take-Off And Landing UAV Market By Platform By Regions, 2018-2023
Table 7 North America Vertical Take-Off And Landing UAV Market By Platform: By Country, 2018-2023
Table 8 Europe Vertical Take-Off And Landing UAV Market By Platform: By Country, 2018-2023
Table 9 Asia Pacific Vertical Take-Off And Landing UAV Market By Platform: By Country, 2018-2023
Table 10 RoW Vertical Take-Off And Landing UAV Market By Platform: By Country, 2018-2023
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