Based on data by Persistence Market Research this report on ‘Small Unmanned Aerial Vehicle Market’ delivers a succinct analysis on industry size, regional growth and revenue forecasts for the upcoming years. The report further sheds light on significant challenges and latest growth strategies adopted by manufacturers who are a part of the competitive spectrum of this business domain.
Small-unmanned aerial vehicle is a small aircraft, which fly without direct human contact and is controlled by the remote control. The need for gathering information from the air in case of natural disasters and accidents has increased in recent years. Small-unmanned aerial vehicles have been attracting a great deal of attention as a safe and efficient means of acquiring such information.
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Due to its various features, such as easy to operate, easy to transport, high endurance, low life cycle cost, long picture taking range, high quality image and video, real time data transfer and capable to perform in all weather conditions, the demand of small-unmanned aerial vehicle is growing. Various types of small-unmanned aerial vehicle are light fixed-wing SUAV, heavy fixed-wing SUAV, multi-rotor VTOL SUAV and nano SUAV. These small-unmanned aerial vehicles plays an important role in many armed forces and civilian missions including border surveillance, military attacks, weather determination, mapping, surveying, and regional law enforcements.
Small-unmanned aerial vehicle also plays an important role in agriculture industry. Large-scale farmer use small-unmanned aerial vehicle to view their crop growth from remote distance. Commercial use of small-unmanned aerial vehicles is expected to be an emerging line of business worth billions of dollars within a few years. Industrial application of small-unmanned aerial vehicle includes retail, media and entertainment, energy, mining and metals. The market for small-unmanned aerial vehicle is restrained by regulation on unmanned operations in civilian airspace but impending regulatory changes are expected to unlock the huge potential of this technology.
Small-unmanned aerial vehicles are used in search and rescue operation. By use of small-unmanned aerial vehicle the cost of sending a group of people in dangerous place get reduced. It would be easy to use small-unmanned aerial vehicle to look out for the people and take an overview of the situation in easy manner. In construction industry, small-unmanned aerial vehicles are used for inspection of building and bridge and thus reduce the human cost and efforts.
The growing terrorism attacks need higher security requirements make small-unmanned aerial vehicle as the best alternative to use. This leads to drive the demand of small-unmanned aerial vehicle market, specifically in Asia Pacific and Middle East regions, which suffer terrorist attacks on a regular basis. Federal Aviation Administration (FAA) estimates that more than 7,500 small-unmanned aerial vehicle would be flying in the national airspace in the next five years. Company such as Amazon.com, Inc. is planning to use small-unmanned aerial vehicle for commercial purpose for product delivering through air. Their approval for use of small-unmanned aerial vehicle in commercial purpose is inroad with Federal Aviation Administration (FAA). Once approved, this is further expected to drive the demand of small-unmanned aerial vehicle market in North America and Europe.
Some of the major companies operating in global small ummanned aerial vehicle marker are Aeronautics Ltd, AeroVironment Inc, Airbus Group, The Boeing Company, Elbit Systems Ltd, Finmeccanica SpA, Israel Aerospace Industries Ltd, Lockheed Martin Corporation, Textron Inc, Xi’an Aisheng (ASN) Technology Group, AeroVironment, SAAB, Thales Group, Lockheed Martin Corporation and Microdrones GMBH.