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The small unmanned aerial vehicle (SUAV) market size is estimated to grow at a CAGR of 13.91% between 2023 and 2028. The market size is forecast to increase by USD 11,206.43 million. The growth of the market depends on several factors vendor partnerships, collaborations, and agreements, growing adoption of smart technology and an upsurge in military spending. Our report examines historical data from 2018 - 2022, besides analyzing the current market scenario.
This report extensively covers market segmentation by type (light fixed-wing SUAV, heavy fixed-wing SUAV, multi-rotor VTOL SUAV, and nano SUAV), application (civil and military), and geography (APAC, North America, Europe, Middle East and Africa, and South America). It also includes an in-depth analysis of drivers, trends, and challenges.
Small Unmanned Aerial Vehicle (SUAV) Market Forecast 2024-2028
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Our researchers studied the data for years, with 2023 as the base year and 2024 as the estimated year, and presented the key drivers, trends, and challenges for the market. Although there has been a disruption in the growth of the market during the COVID-19 pandemic, a holistic analysis of drivers, trends, and challenges will help companies refine marketing strategies to gain a competitive advantage.
The vendors in the global SUAV market are focusing on expanding their business, strengthening their market position, and increasing their sales by adopting business strategies such as partnerships, collaborations, and agreements. Also, vendors are consolidating their supply chain network with distributors to expand their global presence. For instance, in March 2021, Northrop Grumman and the US Navy signed a contract to prototype and integrate assimilating sense and evade proficiencies in order to enable the protected operation of its high-altitude, long-endurance MQ-4C Triton independent system in shared airspace with manned aircraft.
Further, in October 2021, AgEagle Aerial Systems Inc. (AgEagle) and Parrot, a foremost European drone group, mutually announced that they had reached a binding agreement under which AgEagle would acquire senseFly, Parrot Group's wholly-owned subsidiary. Such mergers and acquisitions by vendors will drive small-unmanned aerial vehicle market growth. Therefore company's partnerships, collaborations and agreements drive the market growth during the forecast period.
One of the significant trends in the market is the increasing number of contracts and agreements with military forces. Globally, armed services are becoming aware of how SUVs might improve their operational capabilities. These unmanned systems provide advantages, including target acquisition, surveillance, reconnaissance, intelligence collection, and communication relay. As a result, in order to enhance situational awareness, boost operational effectiveness, and lower dangers to human people, military organizations are looking to purchase and deploy SUAVs. Manufacturing companies have access to the military's funds, requirements, and domain expertise through partnerships and agreements, allowing them to provide specialized solutions that meet the demands of the armed services.
Moreover, with ongoing improvements in sensors, communication systems, propulsion, and autonomous capabilities, the SUAV market is developing quickly. Therefore, in order to guarantee access to advanced technology and maintain an advantage over possible rivals, armed forces are eager to negotiate contracts and partnerships with SUAV producers which can have a positive impact on the small unmanned aerial vehicle market growth. Thus, the contracts and agreements with military forces will drive the growth of the global small unmanned aerial vehicle (SUAV) market during the forecast period.
In the current network-centric warfare zone, wireless connectivity and coordination play a vital role. Armed forces are increasingly depending on offensive and defensive automated systems, which has increased their vulnerability to hacking or breaching through cyber networks from the adversary side. Although vendors are focusing on developing SUAV systems with the most advanced technologies and making them infiltration resilient, manifold advances in the domain of cyber intrusion and hacking still make them vulnerable.
However, with adversaries being able to block the functioning of SUAV systems through network infiltration, they will likely be successful in executing attacks through the deployed drones and such factors negatively affect the SUAV Market growth. Therefore vulnerability to cyber hacking may hinder the market growth during the forecast period.
The light fixed-wing SUAV segment is estimated to witness significant growth during the forecast period. A light fixed-wing SUAV is an aircraft that operates without a human pilot onboard. Light fixed-wing SUAVs are controlled either remotely by a human operator or autonomously by onboard computers. Light fixed-wing SUAVs are typically utilized for commercial tasks, including aerial mapping, inspection, agriculture, construction, security, and surveillance, as their design is more data-focused
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The light fixed-wing SUAV segment was the largest segment and was valued at USD 2,414.18 in 2018. When it comes to efficiency and precision, light fixed-wing SUAVs have enormous potential. They provide not only lower operating expenses than conventional planes or helicopters but also the ability to operate in settings where a piloted aircraft would not be able to operate. Additionally, there are variations among the aircraft that make them better or less suited for a particular activity. The light fixed-wing SUAV's flying mode is actually specifically designed for the professional use of data and for topographic restoration of the data with high quality and accuracy in three dimensions. Briefly stated the main advantages are longer flight autonomy, larger areas are covered in less time and better quality of the photographic result. Therefore, the above-mentioned factors are expected to boost the growth of the global small unmanned aerial vehicle (SUAV) market during the forecast period.
Based on application, the market has been segmented into civil and military. The civil segment will account for the largest share of this segment. The civil segment of the small-unmanned aerial vehicle (SUAV) market is predicted to grow at the highest rate due to the improved adoption of SUAVs for multiple civil applications, such as product delivery, monitoring, surveying, mapping, and remote sensing. SUAVs are used in the construction industry to check buildings and bridges, reducing the labor costs required from workers. The use of SUAVs is essential in the agricultural sector as well. Large-scale farmers use an SUAV to observe the growth of their crops from a distance. In a few years, it is predicted that the commercial use of SUAVs will be a billion-dollar industry. Retail, media and entertainment, energy, mining, and metals all use SUAVs industrially. The Federal Aviation Administration (FAA) has authorized businesses like Amazon.com, Inc. to use SUAVs for commercial reasons for product delivery through the air. Such factors will boost the growth of the global small unmanned aerial vehicle (SUAV) market in the civil segment during the forecast period.
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APAC is estimated to contribute 32% to the growth by 2028. Technavio’s analysts have elaborately explained the regional trends, drivers, and challenges that are expected to shape the market during the forecast period. APAC is expected to post the fastest growth rate during the forecast period, owing to the expansion of defense capabilities in key countries such as China, India, Japan, and South Korea. There is also an increased emphasis on the indigenization of SUAV platforms, which will significantly drive growth in the regional market. Countries in the region are focused on indigenously developing advanced SUAV systems to enhance their aerial capabilities. Defense authorities are funding R&D efforts to develop sophisticated SUAV systems that are capable of effectively functioning in adverse conditions and fulfilling the requirements of a wide range of mission profiles.
In addition, India has emerged as one of the top international markets for foreign defense contractors and has reportedly overtaken China as the top arms importer in APAC. China's annual defense budget has increased eightfold in the last 20 years, and the country has been focusing on the indigenous development of SUAVs to reduce its dependence on imported equipment. Dominant players are making collaborative efforts to capitalize on the high growth potential of the market. Such factors are likely to drive the growth of the market in the region during the forecast period.
In 2020, several countries in APAC, such as India, China, Japan, and Malaysia, were adversely affected by the COVID-19 pandemic. However, in 2021, lockdowns were lifted due to the initiation of vaccination programs in the region, which resulted in the resumption of production activities in SUAV manufacturing units and the supply chain of SUAV systems. The governments of different countries are investing in different civil and military projects. Therefore, such major spending on civil and military projects and the growing introduction of automation in military applications will support the small-unmanned aerial vehicle (SUAV) market growth. Therefore such factors will drive the regional market growth during the forecast period.
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
AeroVironment Inc. - The company offers small unmanned aerial vehicle such as Raven B T 20, Jump 20 and Puma Le.
We also have detailed analyses of the market’s competitive landscape and offer information on 20 market companies, including:
AeroVironment Inc., Airbus SE, Airgility, AZUR DRONES SAS, C Astral d.o.o., Elbit Systems Ltd., Freebird Aerospace India Pvt. Ltd., General Atomics, Israel Aerospace Industries Ltd., Leonardo Spa, Northrop Grumman Corp., Parrot Drones SAS, Red Cat Holdings, Skydio Inc., SwissDrones Operating AG, SZ DJI Technology Co. Ltd., Teledyne Technologies Inc., The Boeing Co., Throttle Aerospace System Pvt Ltd., and Vantage Robotics
Technavio report provides an in-depth analysis of the market and its players through combined qualitative and quantitative data. The analysis classifies companies into categories based on their business approaches, including pure-play, category-focused, industry-focused, and diversified. Companies are specially categorized into dominant, leading, strong, tentative, and weak, based on their quantitative data analysis.
The small unmanned aerial vehicle (SUAV) market report forecasts market growth by revenue at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2018 to 2022.
Small Unmanned Aerial Vehicle (SUAV) Market Scope |
|
Report Coverage |
Details |
Page number |
167 |
Base year |
2023 |
Historic period |
2018 - 2022 |
Forecast period |
2024-2028 |
Growth momentum & CAGR |
Accelerate at a CAGR of 13.91% |
Market Growth 2024-2028 |
USD 11,206.43 million |
Market structure |
Fragmented |
YoY growth 2023-2024(%) |
13.45 |
Regional analysis |
APAC, North America, Europe, Middle East and Africa, and South America |
Performing market contribution |
APAC at 32% |
Key countries |
US, Canada, China, India, and France |
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
Key companies profiled |
AeroVironment Inc., Airbus SE, Airgility, AZUR DRONES SAS, C Astral d.o.o., Elbit Systems Ltd., Freebird Aerospace India Pvt. Ltd., General Atomics, Israel Aerospace Industries Ltd., Leonardo Spa, Northrop Grumman Corp., Parrot Drones SAS, Red Cat Holdings, Skydio Inc., SwissDrones Operating AG, SZ DJI Technology Co. Ltd., Teledyne Technologies Inc., The Boeing Co., Throttle Aerospace System Pvt Ltd., and Vantage Robotics |
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for the forecast period. |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
We can help! Our analysts can customize this market research report to meet your requirements. Get in touch
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Type
7 Market Segmentation by Application
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
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