Global Unmanned Commercial Aerial Vehicles Market Trends And Strategies Of Major Players In The Unmanned Commercial Aerial Vehicles Market 2020
The global unmanned commercial aerial vehicle market is expected to grow from $1.18 billion in 2019 to $1.38 billion in 2020 at a compound annual growth rate (CAGR) of 17.53%. The decline is mainly due to economic slowdown across countries owing to the COVID-19 outbreak and the measures to contain it. The market is then expected to recover and reach $2.25 billion in 2023 at CAGR of 17.54%. Increasing applications of UAVs in the commercial sectors contributed to the growth of unmanned commercial aerial vehicle market. Faster delivery of goods and increasing transportation of products such as small packages, food, medical supplies, etc. has great significance in the commercial sector.
The market for unmanned commercial aerial vehicle consists of sales of unmanned commercial aerial vehicles (miniature pilotless aircrafts including remotely piloted aerial vehicles and unpiloted aerial vehicles) controlled to carry small payloads, perform delivery and minor services, commercial inspections and operations such as photography and videography. The market consists of revenue generated by the companies manufacturing the unmanned commercial aerial vehicles by the sales of these products.
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The global unmanned commercial aerial vehicles market is further segmented based on type and geography.
By Segment: Fixed-Wing UAVs, Multi-Rotor Aerial Vehicles, Rotary Blade Type UAV
By End-User: Agriculture, Energy, Public utilities, Construction, Media and Entertainment, Government, Others
By Geography: The global unmanned commercial aerial vehicles market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa.
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Trends In The Unmanned Commercial Aerial Vehicles Market
Unmanned commercial aerial vehicle manufacturing companies are implementing improved batteries in their UAVs which could fly for longer and farther on just a single charge. Improvements in battery technology can be seen by the replacement of lithium-ion batteries with lithium-metal batteries which has twice the capacity and half the size when compared with the former ones.
Unmanned Commercial Aerial Vehicles Global Market Report 2020 is one of a series of new reports from The Business Research Company that provides unmanned commercial aerial vehicles market overviews, analyzes and forecasts market size and growth for the global unmanned commercial aerial vehicles market, unmanned commercial aerial vehicles market share, unmanned commercial aerial vehicles market players, unmanned commercial aerial vehicles market segments and geographies, unmanned commercial aerial vehicles market’s leading competitors’ revenues, profiles and market shares. The unmanned commercial aerial vehicles market report identifies top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.