Multirotor UAV Market Industry Outlook and Development Factors, Assessing Current Scenario by 2030

Market Overview:

Multirotor UAV Market Share Size is expected to reach USD 8.401 Billion by 2030, registering a CAGR of 21.1% during 2020-2030.

The functions of multirotor UAV include image capturing and video recording in remote or hazardous places, which act as a driving factor for the Multirotor UAV Market Share growth. These UAVs consist of night vision cameras, which are majorly used for gathering intelligence, weather/traffic monitoring, media and entertainment purposes, environmental research, and agricultural/industrial applications. As a result of their functions, it is estimated that the Multirotor UAV Market Share would witness a significant growth in the forthcoming years.

The ability of such aerial vehicles to perform in extreme conditions is one of the key factors for their increased adoption in the commercial market. Moreover, due to the recent technological advancements, multirotor UAVs are widely used in the fields of mining, chemicals, to detect the nuclear and radioactive materials, and construction. Factors such as low operational costs, flexibility in operations, and low cost of ownership also influence the multirotor UAV market trend. In addition, extensive R&D investment is another key reason that leads to the market growth. The rising threats of terrorist attacks, political and regional disputes, and border conflicts are boosting the demand for multirotor UAVs, across the globe. However, the market is adversely affected by factors such as air traffic management rules and limited battery lives or endurance of UAVs. economic downturn and defense budget cuts in some countries in North America and Europe hinder the market growth.

Market Segmentation:

The report also provides a forecast, focusing on the market opportunities for the next five years for each region. The scope of the study segments the global Multirotor UAV Market Share by its application, rotors, payload, and region.

By Application
Militaryr

Homeland security

Commercial

By Rotors
Less than 10

More than 10

By Payload
Cameras

Electro-Optical Sensors

GPS

Lidar

Laser Designator

Others

By Region
North America

Europe

Asia-Pacific

Middle East and Africa

Latin America

Key Players

The multirotor UAV market drivers are Israel Aerospace Industries (Israel), AeroVironment, Inc. (U.S.), DJI Innovations (China), 3D Robotics, Inc. (U.S.), Microdrones GMBH (Germany), Coptercam (Australia), Cyberhawk Innovations Ltd. (U.K), Aeryon Labs Inc. (Canada), and Draganfly Innovations, Inc. (Canada).

Regional Analysis:

This study provides an overview of the multirotor UAV market industry, tracking three market segments across five geographic regions.

The report studies key players, providing a five-year annual trend analysis that highlights market size, volume, and share for North America, Europe, Asia-Pacific (APAC), the Middle East and Africa, Latin America.

Table of content:

Global Multirotor UAV Market, By Application

Military

Market Estimates & Forecast, 2020-2027