New report forecasts unmanned aerial vehicle market

New report forecasts unmanned aerial vehicle market

A new report evaluates unmanned aerial vehicle (UAV) market and ecosystem including vendors and service providers with an assessment of strategies, solutions, products and services.

The report analyzes the market for UAVs as well as supporting hardware, software and services. The report also evaluates drone use cases and applicability of UAVs by type with consideration for various use cases including imaging, surveillance, and more.

The report provides revenue and sales volume for UAVs by type with global, regional and major country forecasts from 2021 through 2026. The report also provides global analysis of drone applications by use case in industry verticals including agriculture, real estate, energy operations, and more.

This report also evaluates supporting technologies important to unmanned aircraft systems and provides market sizing for energy and propulsion systems, automation systems, collision avoidance systems, airspace protection (including UAV jamming), onboard data processing, and communication data links and RRF spectrum capacity management.

The report also provides additional market analysis and forecasting for ancillary drone applications and services including the UAV app development ecosystem and UAVs-as-a-Service with analysis and forecasts for use cases in industry verticals including maintenance and inspection, filming and photography, surveillance, package delivery, and more.

Report Findings:

– Smart city applications will drive up to 32% of drone fleet deployments by 2026;
– Drones as a service for scientific research solutions will reach $8.1 billion by 2026;
– UAV driven global market for collision avoidance systems will reach $1.1 billion by 2026;
– Market for rotary UAVs will be almost three times greater than fixed wing drones through 2026;
– Leading drones-as-a-service solutions are high ROI apps driven by cost avoidance of other solutions;
– Driven by UAV growth and security concerns, the global airspace protection market will reach $1.9 billion by 2026;
– Biggest UAV market drivers are enterprise and industrial segments as well as local and state government smart city solutions.

In addition to the above, the report provides an assessment of the impact of UAVs on the global economy. For example, it is expected that the total economic impact of commercial drone-enabled services will be $30.9 billion by 2028, growing at a CAGR of 50.2% through 2028.

Unmanned Aircraft Systems (UAS) are generally segmented into systems that are remotely piloted and those that have at least some degree of autonomous operation.

While the consumer market is becoming increasingly interested in small unmanned aircraft systems (a subset of all UAS, typically flown for hobby and recreational purposes), the type and number of applications for UAS for business applications is rapidly expanding across a diverse array of industry verticals.

The global Unmanned Aerial Vehicle (UAV) market comprises commercial and military applications. Commercial drone technology includes energy and propulsion systems, automation system, collision avoidance system, airspace protection, onboard data processing, and communication data links and radiofrequency spectrum capacity.

The commercial drone market segment comprises hardware, software and services. By way of example, drone hardware includes fixed-wing drones, rotary bland drones, nano-drones, and hybrid drones.

Leading companies such as Amazon are in the early stages of deployments intended for widespread use of UAVs for retail delivery and related logistics. Drones are also anticipated to be used extensively in public safety including law enforcement, search and rescue operations.

In addition, commercial drone services companies are anticipated to make a big impact on enterprise and industrial business operations.

Drone-enabled services include mapping, survey, and inspection services of critical assets such as wind turbines, utility assets, and commercial properties.

Accordingly, this research sees both stand-alone services companies as well as those integrated with communications service providers. By way of example, Verizon Communications purchased Skyward, which provides drone solutions to a variety of companies.

The introduction of 5G and expansion of Mobile Edge Computing (MEC) infrastructure is anticipated to be a major catalyst for expanded and richer UAV/drone use cases.

Greater capacity and significantly lower latency afforded by 5G and MEC enable improved control and more sustainable flight. This will be the case especially in industrial automation environments involving outdoor facilities as well as enterprise asset support services such as monitoring, inspection, and surveillance, according to the report.