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Unmanned Aerial Vehicle (UAV) Market Share 2020-2027

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Aashi Kohli
Unmanned Aerial Vehicle (UAV) Market Share 2020-2027

The global unmanned aerial vehicle (UAV) market size is prognosticated to witness progressive growth rates on account of the increasing use of UAVs in the defense and military sectors worldwide.

A handful of players constitute the Unmanned Aerial Vehicle market. These include players such as Boeing, Northrop Grumman, and AeroVironment. Manufacturers have a strong portfolio and adopt strategies such as mergers and acquisitions, agreements and contracts, company collaborations, and investments in quality production. These companies have an extensive geographic presence and are investing continuously in research and development for secure regulatory approvals.

Notable Industry Developments of Unmanned Aerial Vehicle (UAV) Market Include:

In 2019 – FLIR Systems received a contract worth USD 39.6 million from the U.S. Army for Black Hornet tactical Nano-UAVs.

In 2019 – 34 ScanEagle drones were manufactured by Boeing Co. and sold by the Pentagon to the governments of the Philippines, Malaysia, Vietnam, and Indonesia for USD 47 million.

In 2019 – Northrop Grumman accepted a contract worth $ 65 million for supplying drones to Navy in Australia to provide long-lead production components for three Lot 5 MQ-4C Triton unmanned aircraft.

In 2019 – A British Company, Prismatic, will be acquired by BAE Systems for aerospace and defense giant and expected to continue the solar-powered production of UAVs.

Significant UAV Market Manufacturers include:

  • Textron
  • Northrop Grumman
  • Kespry
  • Hubsan
  • EHang
  • DJI
  • CyPhy
  • Autel Robotics
  • AguaDrone
  • Action Drone
  • Parrot
  • Yuneec International Co. Ltd.
  • Lockheed Martin Corporation
  • Insitu
  • General Atomics
  • Dragonfly Innovations, Inc.
  • Delair
  • Boeing

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Fortune Business Insights™ offers expert corporate analysis and accurate data, helping organizations of all sizes make timely decisions. We tailor innovative solutions for our clients, assisting them to address challenges distinct to their businesses. Our goal is to empower our clients with holistic market intelligence, giving a granular overview of the market they are operating in.

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