Small UAVs Leading the Global Market for Unmanned Aerial Vehicles

24 May 2018
global UAV Market

With the evolution of technology in the past few years, Unmanned Aerial Vehicles (UAVs) have witnessed a significant adoption rate of these vehicles in a varied range of applications. The commercial and non-commercial end-users are extensively using UAVs.   According to the latest market intelligence report by BIS Research titled, ‘Global Unmanned Aerial Vehicle (UAV) Market- Analysis and Forecast (2017-2021),’ the market generated a revenue of $8.02 billion in 2016 with small UAVs accounted for highest market share. The high market share of small UAVs is owing to the wide range of applications in commercial and non-commercial end-users and low cost of UAVs.

In May 2018, the cutting- edge British Companies, Prismatic and BAE Systems, signed a collaborative agreement to develop PHASE -35 solar powered High Altitude Long Endurance, Unmanned Aerial Vehicle (HALE UAV). The Phase-35 has 35m long wingspan and weighs 150 Kg, its light weight and efficient build enable it to fly at high altitudes for up to 12 months. The developed UAV offers low-cost persistent service for a wide range of requirements including surveillance and vital communications in remote areas.1

In May 2018, Elbit system Ltd., an Israel-based international defense electronic system, uses the unmanned aerial vehicle ‘Hermes 450’ to gather crop data over areas of North Dakota with a high resolution of a video camera. The camera can collect 40,000 acres of images per hour from an altitude of 10,000 feet. The Hermes 450 has 35-foot-long wingspan and can fly up to 17 hours. 2

In May 2018, Dynetics, a Huntsville, Alabama based defense contractor, signed a contract for the demonstration phase of the Defense Advanced Research Projects Agency’s Gremlins Program. Dynetics will launch a series of small unmanned aerial system packed with advanced payloads from a military aircraft. The success of the Gremlins program could provide several benefits to military aviators.3         

The prominent market players of the UAV market are Elbit system Ltd., CybAero AB, DJI Innovations, BAE Systems, Lockheed Martin Corporation, and Parrot SA, among others. North America is anticipated to lead the global market for UAVs with the U.S. holding the highest market share. The U.S. is one of the prominent exporters of UAVs after Israel. U.S. is considered as the home to the several UAV manufacturers for both commercial as well as non-commercial end-users. Asia-Pacific is expected to register the highest growth rate from 2017-2021.         

  References:  

  1. Geospatial World         
  2. KFGO  
  3. National Defense

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