Market Share of Unmanned Aerial Vehicles Industry
The UAV market is semi-consolidated, with several local and global players holding significant shares. Some of the key players in the market are Northrop Grumman Corporation, THALES, Leonardo S.p.A., General Atomics, and BAYKAR TECH. The stringent safety and regulatory policies in the defense and homeland security segment are expected to restrict the entry of new players. However, the commercial and civil segment is expected to witness rapid growth due to the entry of many players, as economies of scale do not govern the segment.
Companies with superior technical capabilities are expected to contribute significantly toward technological advances in the propulsion systems and payload characteristics of UAVs, resulting in a shorter development cycle time and considerably augmenting the operational capabilities of mini-UAVs. Since a UAV platform's payload, endurance, and flight range are the primary concerns of OEMs and operators, the emergence of alternative fuel-powered UAVs is expected to cause significant changes in the competitive scenario. The use of composite-based materials for constructing critical components and parts of UAVs may increase the capabilities of the UAV platforms and fuel their widespread adoption across different industries.
Unmanned Aerial Vehicles Market Leaders
Northrop Grumman Corporation
THALES
General Atomics
BATKAR TECH
Leonardo S.p.A.
*Disclaimer: Major Players sorted in no particular order
