Unmanned Aerial Vehicle Market Size and Growth rate:
The unmanned aerial vehicle market is estimated at USD 20.71 billion in 2018 and is expected to reach USD 51.33 billion by 2025, with a CAGR of 14.19% from 2018 to 2025. It is expected that the increase in efficiency in the handling of situations associated with technological advances in unmanned aerial vehicles will stimulate the demand of this market during the forecast period.
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Drivers and Challenges of Unmanned Aerial Vehicle Market:
The intensification of terrorist activity worldwide is expected to increase the demand for unmanned aerial vehicles in the near future. In addition, the growing demand for high-precision technologies is expected to boost the growth of the market. Unmanned aerial vehicles are also being adopted in Germany for the delivery of packages (DHL package), which should encourage other regions to use these vehicles for logistics, etc. This could be another driver of the growth of unmanned aerial vehicles in the future.
Geographical Analysis of Unmanned Aerial Vehicle Market:
According to the regions, the Asia-Pacific region, led by China and India, is expected to be the most promising region to generate revenues in the unmanned aerial vehicle market due to the proliferation of border disputes in this region. In addition, the growing preference for automation in this region should also fuel the demand for unmanned aerial vehicles. It is estimated that North America dominates the global market. However, due to the defence budget reductions in this region, the region is expected to report the growth in the unmanned aerial vehicle market during the forecast period.
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Prominent Players Covered in this Unmanned Aerial Vehicle Market report are:
PARROT, 3D Robotics, Yamaha, Microdrones, Alpha Unmanned Systems, Aeryon, CybAero, DJI, XAIRCRAFT, Ehang, ZERO TECH, TXA, Ewatt, Jinhua, Zhongke, Aite, Hanhe
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