The frequent augmentation of the drone technology has brought about a variety of changes right from reduction in size to the increase in degree of automation in drones, further opening up new avenues for business opportunities. UAVs have emerged as a cost-effective solution for a wide range of commercial applications such as precision agriculture, surveying, aerial photography, and mapping.
The BIS UAV segment tracks emerging technologies, covering UTM, remote ID solutions, BVLOS drones, UAV propulsion, and others. We constantly track the changing market dynamics and identify key opportunity areas to support key players with relevant market information, which helps them in strategic decision-makings.
The Global Military Artificial Intelligence Market report by BIS Research projects the market to grow at a significant CAGR of 18.66% on the basis of value during the forecast period from 2019 to 2024.
The global remote drone identification industry growth based on the analysis conducted by BIS Research highlights that the market is expected to reach $1.25 Billion by 2029. The market is expected to witness a significant growth during the forecast period from 2021 to 2029.
By 2030, it is expected that approximately 14.2 million drones would be in the airspace. Moreover, assuming $200 are to be charged per connection, the market size is expected to reach around $2.83 billion.
The demand for sense and avoid systems used in UAVs is rapidly increasing among different applications across the globe. The market is driven by number of factors such as rise in the demand of autonomous drone for beyond visual line of sight operations. The UAVs equipped with sense and avoid systems are increasingly being adopted in commercial as well as non-commercial applications.
A drone camera can be defined as a camera specifically designed to be mounted on a drone for capturing photos/videos in a particular operation. Drones equipped with cameras are increasingly being adopted across commercial, military and homeland security end-users.
The demand for UAVs is swiftly increasing among different end-users across the globe. The market is driven by number of factors such as rise in their demand across commercial and non-commercial end-users, various consumer-centric technological developments and declining prices, among others.The UAV market accounted for a market value of $8.02 billion in 2016 with small UAVs holding the highest share.
The UAS Traffic Management (UTM) system is an upcoming phenomenon that is envisioned for managing drones (mainly small drones) traffic in the lower level of airspace. The UAS traffic management system or UTM system is envisaged to be a system of several subsystems which will work together to provide an end-to-end service.
The demand for UAV propulsion systems is rapidly gaining pace in the aerospace and defense industry owing to the flourishing level of future demand for unmanned aerial vehicles. The rising demand from defense and commercial applications are the major factors responsible for enhancing the growth of UAV propulsion system market, globally.
The global nano drones market reported a revenue of $ 284.45 million in 2016. Military/law enforcement segment is expected to account for the highest revenue by forecast year of 2023. Consumer segment is likely to grow at a highest rate owing to its increasing use in the aerial photography and recreational activities.
The global multi-rotor drone market reported a revenue of $1,254.82 million in 2016 with aerial shooting segment accommodating for the highest revenue by 2022. Survey and mapping segment is likely to grow at a highest rate owing to its increasing use in the construction, Geographic Information System (GIS) and others.
In terms of revenue generation, the UAV sense and avoid systems market is dominated by North America, with a CAGR of 10.48% in the forecast period and with Europe being the second most revenue generating region.
According to BIS Research Analysis, the anti-drone market is estimated to be at $209.77 million in 2016. The high growth of anti-drone market in aerospace and defense industry is majorly attributed to increasing security breach by unidentified drones.
An increase in the demand for unmanned aerial vehicles is a major factor attributing to the overall growth of UAV propulsion market since over a decade. It is estimated that the propulsion systems market was $2702.25 million in 2015.
UAVs are an important part of a country’s military nowadays, owing to their proliferated usage in combat and surveillance applications. Governments across the globe are procuring this technology in order to further strengthen their military powers.
The global Unmanned Aerial Vehicle (UAV) market has witnessed a meteoric growth over the past decade. Military UAVs are considered a key component and an integral part of a country’s defense system. The commercial UAVs have witnessed a huge transformation after the exemptions from Federal Aviation Administration (FAA) regulations. Major companies in the UAV market are targeting customers by introducing new and improved applications.
The market growth of Unmanned Aerial Vehicle (UAV), commonly called drones, is propelled by an increasing demand in the commercial and military sectors. A reduction in the number of associated operational risks, along with innovative solutions, has created an increase in demand for UAVs in performing multifarious operations without extensive human involvement.
Recently, in spite of the growth hindrance, to some extent, of UAVs due to a reduction in defense budgets of the US, France and Germany,