Vancouver, BC -- (SBWIRE) -- 12/22/2020 -- The unmanned aerial vehicles (UAVs) are vital in the military and aerospace and defense industry as it offers a broad spectrum of advantages such as monitoring long-range missile threats, protecting personnel in combat-heavy zones, enabling communication in low-bandwidth areas, and others. The unmanned aerial vehicle (UAV) market is witnessing a high demand owing to its increased application in combat support, search and rescue transportation, and surveying and mapping, among others. According to the latest report by Emergen Research, the unmanned aerial vehicle market is poised to gain a valuation of USD 56.18 billion by 2027, registering a CAGR of 14.3%.

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Key participants include: Elbit Systems, Aerovironment, Boeing, Thales Group, 3D Robotics, BAE Systems, Airbus, Northrop Grumann Corporation, Israel Aerospace Industries, and Textron, among others.

Market Drivers
Rising deployment in a harsh and dangerous environment, expanded defense budget, increasing use of UAMs in the military, and their deployment in intelligence, surveillance, and reconnaissance (ISR) in military and defense sector, is driving the industry's growth over the projected timeline. Rising deployment of unmanned aerial vehicles in the military owing to their robust ability to perform intense tasks in the field and their enhanced defense application is further propelling the industry's growth.

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Product Type Outlook (Revenue, USD Billion; 2017-2027)
- Small UAVs
- Strategic & Tactical UAVs
- Special Purpose UAVs

Wing Type Outlook (Revenue, USD Billion; 2017-2027)
- Fixed Wing
- Rotary Wing

Operation Mode Outlook (Revenue, USD Billion; 2017-2027)
- Remotely Piloted
- Optionally Piloted
- Fully Autonomous

Range Outlook (Revenue, USD Billion; 2017-2027)
- Visual Line of Sight
- Extended Visual Line of Sight
- Beyond Line of Sight

Maximum Takeoff Weight (MTOW) Outlook (Revenue, USD Billion; 2017-2027)
- < 25 Kg
- 25 – 170 Kg
? 170 Kg

System Outlook (Revenue, USD Billion; 2017-2027)
- Platforms
- Payloads
- Data Links
- Ground Control Stations
- Launch & Recovery Systems

Application Outlook (Revenue, USD Billion; 2017-2027)
- Intelligence, Surveillance, and Reconnaissance (ISR)
- Combat Support
- Search and Rescue
- Transportation
- Explosive Ordnance Disposal (EOD)
- Surveying & Mapping
- Firefighting
- Traffic Management
- Warehousing
- Others

End-User Outlook (Revenue, USD Billion; 2017-2027)
- Military & Defense
- Commercial
- Government & Law Enforcement
- Consumers

Regional Analysis
North America contributed to a massive share of the industry in 2019 and is anticipated to retain its dominant position attributable to the increasing deployment and advancement in unmanned air vehicles by the U.S. defense sector. The UAVs are actively deployed in search and rescue operations, crow monitoring and control, and border security, among others. The Asia Pacific is forecasted to be the fastest-growing region due to the rising investment in military and sector.

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The research provides answers to the following key questions:
- What is the expected market size of the Unmanned Aerial Vehicle (UAV) market for the forecast period 2020 - 2027? What will be the growth rate of the industry during the estimated period?
- What are the major driving forces shaping the future of the Unmanned Aerial Vehicle (UAV) industry worldwide?
- Who are the major vendors in the industry and what are their strategies to reap more profits and reduce costs?
- What are the trends from the past and future that are likely to favor the progress of the Unmanned Aerial Vehicle (UAV) industry worldwide?
- What are the major threats and challenges that hinder the development of the industry?
- What are the opportunities in store for the business owners operating in the market?

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About Emergen Research
Emergen Research is a market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target, and analyze consumer behavior shifts across demographics, across industries, and help clients make smarter business decisions. We offer market intelligence studies ensuring relevant and fact-based research across multiple industries, including Healthcare, Touch Points, Chemicals, Types, and Energy. We consistently update our research offerings to ensure our clients are aware of the latest trends existent in the market. Emergen Research has a strong base of experienced analysts from varied areas of expertise. Our industry experience and ability to develop a concrete solution to any research problems provides our clients with the ability to secure an edge over their respective competitors.

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