The Global Small UAV Market is expected to grow at a CAGR of 10.XX% to reach $ X.XX billion by the year 2022. The larger unmanned aerial vehicles such as HALE, MALE are used largely by the military in combat operations which require the aerial vehicle to have a very long range. But their advantages get limited in short range and extremely covert operations as the larger UAV’s have a bigger heat signature. Also because of their very high acquisition cost, it is not viable for the civil sector to buy them. The Fly Away cost of a General Atomics MQ-9 Reaper drone is around $17 million, whereas a small drone can be bought for as low as $3000.
The fixed wing small UAVs have a larger market penetration than the rotary wing and the nano UAV. But the rotary wing UAV is seeing a considerable increase in applications both in the commercial and the military sector. The rotary wing UAVs can take off and land anywhere which gives them a greater operational flexibility.
Due to the growing applications in the commercial sector in the field of photography, construction, oil and gas, energy and agriculture, the share of the civil and commercial sector will increase by the end of the forecast period and register a stronger growth rate than the military sector.
Despite falling defense expenditure, United States will continue to maintain its lead as the biggest market for small UAVs. North America along with the Asia Pacific region will register strong growth rate in the forecast period.
Propulsion systems powered by hydrogen cells will record the fastest growth rate in the forecast period. Hydrogen cell gives the UAV a considerably longer range as compared to solar and lithium-ion.
AeroVironment, Israel Aerospace Industries, and Parrot are some of the important players in the Small UAV Market. The market has been segmented by type (Fixed Wing, Rotary Wing), by Size (Micro, Mini, and Nano) by Application (Military, Law Enforcement, Civil & Commercial), by Propulsion Systems (Hydrogen Cell, Solar, and Lithium-ion) and by Geography (North America, South America, Europe, Middle East & Africa and Asia Pacific).
Identification of factors instrumental in changing the market scenarios, rising prospective opportunities, and identification of key companies that can influence this market on a global and regional scale