Market Size of North America Small UAV Industry
| Study Period | 2020 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2020 - 2022 |
| CAGR | > 7.00 % |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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North America Small UAV Market Analysis
The North American small UAV market is anticipated to register a CAGR of more than 7% during the forecast period.
Since unmanned aerial vehicle (UAV) procurement is a direct proponent of the demand from end-user industries, COVID-19 has severely impacted the market in focus. The ongoing global economic slowdown is anticipated to result in a subsequent decline in the demand for UAVs from end-user sectors that deploy drones for various applications. However, the demand for UAVs has rapidly increased due to their diverse application portfolio. However, due to existing regulations and controls, major US-based companies are less likely to bear the impact of the wider supply chain disruption caused by the pandemic.
The growing realization of drone deployment in military operations has encouraged vendors to offer drones that can be used in numerous commercial applications. Drones are also being adopted in other applications, including internet provision in remote places, aerial photography and video recording, survey and documenting wildlife, and public service missions. Several companies primarily offer small drones used in agricultural and aerial photography and data collection applications. Home deliveries via drones have become a reality due to the efforts of logistics and retail companies, such as Amazon and UPS, toward rolling out the technology. Enhanced investments in drone technologies are also anticipated to foster long-term growth of the market. However, the growth of the small UAV market in North America can be hindered by technological constraints, such as limited endurance, SWaP challenges, and the presence of non-uniform laws and regulations that can restrict the usage of such systems in the airspace of certain countries.
