DUBLIN, March 22, 2019 /PRNewswire/ -- The "North America Small UAV Market (2019 - 2024)" report has been added to ResearchAndMarkets.com's offering.
The North American small UAV market is anticipated to record a CAGR of 9% to reach a value of USD 900 million by 2024
The increasing applications in surveying, aerial photography, 3D mapping, oil and gas pipeline monitoring and similar infrastructure inspection, and real estate surveys, are driving the growth of the North American small UAV market.
The demand for UAV from intelligence, surveillance, and reconnaissance missions in military and surveillance missions in law enforcement sectors, fueled by the increasing military spending of countries, are further expected to propel the North American small UAV market.
Integration of technologies, like IOT (Internet of Things) and AI (Artificial Intelligence), along with the use of innovative micro-electronic components in unmanned aerial vehicles, is expected generate future opportunities in the market.
Scope of the Report
Small UAVs have been defined in various terms among the national regulation authorities, often without including size precisions, and differences about weight measurement specifications. These definitions range from less than 2 kg for Canada to less than 25 kg for the United States.
Key Market Trends
Industrial Application Trends
The retail segment of the North American small UAV market is expected to witness the highest growth during the forecast period. This growth is propelled by the retail sector of North America, which is the home for the world's largest retailers. Online retail has witnessed rapid growth for the past three years. Service providers in the region find difficulties in making deliveries. In busy cities, where traffic is a major concern, drones (small UAVs) are the best possible solution for online retailers. Currently, the deliveries of Meds-By-Drone Delivery is initiated, and this is expected to be also used for the delivery of various parcels and other retail items that are likely to drive the growth for this segment during the forecast period.
The United States currently has the largest market share and is expected to record the highest CAGR during the forecast period. This is due to the end of the ban on commercial drone flights, and may allow low-altitude flights of small drones within viewing range of a ground-based pilot. The necessity for constant and superior ISR capability by the armed forces has stimulated the United States to invest substantially in unmanned air systems and related technologies Presently, the US DoD operates more than 7,000 UAVs, mainly in international locations, such as Afghanistan, Pakistan, and Yemen, as well as domestically, along the United States-Mexico border. A majority of these are small UAVs, with a wingspan of between three to four feet, are used by ground units for real-time geographical or structural surveillance. The development of advanced small UAVs for the military and commercial sectors is boosting the growth of the market in this region.
The North American small UAV market is a highly fragmented one, with about nine companies dominating the market. Some of the prominent players in the market are The Boeing Company, Israel Aerospace Industries (IAI), Thales SA, Airbus SE, and Elbit Systems Ltd.
In October 2017, Boeing announced that it was investing in Near Earth Autonomy, a Pittsburgh-based company that is focused on developing technologies for safe and reliable autonomous flight. In addition to the investment, the companies also announced a partnership to explore future applications and products for emerging markets, such as urban mobility. Such investments and partnerships by market leaders can help the companies to maintain strong presence in the market.
Key Topics Covered:
2 Research Methodology
3 Executive Summary
4 Market Dynamics
4.1 Market Overview
4.2 Market Drivers
4.3 Market Restraints
4.4 Porter's Five Forces Analysis
5 Market Segmentation
5.1.1 Light Fixed-wing Small UAV
5.1.2 Heavy Fixed-wing Small UAV
5.1.3 Multi-Rotor VTOL Small UAV
5.1.4 Single-Rotor VTOL Small UAV
5.2 Propulsion Type
5.2.1 Hydrogen Cell Propulsion Systems
5.2.2 Hybrid Propulsion Systems
5.2.3 Solar Propulsion Systems
5.2.4 Lithium-ion Battery Propulsion System
5.3 Industrial Application
5.3.3 Media and Entertainment
5.3.5 Mining and Metals
5.4.1 United States
5.4.3 Rest of North America
6 Competitive Landscape
6.1 Market Share Analysis
6.2 Company Profiles
6.2.1 Elbit Systems Ltd
6.2.2 Israel Aerospace Industries (IAI)
6.2.3 Thales SA
6.2.4 The Boeing Company
6.2.5 Aerovironment Inc.
6.2.6 BAE Systems PLC
6.2.8 Airbus SE
6.2.9 Aeronautics Ltd
6.2.10 Lockheed Martin Corporation
7 Market Opportunities and Future Trends
For more information about this report visit https://www.researchandmarkets.com/research/7458wt/north_america?w=5
Research and Markets also offers Custom Research services providing focused, comprehensive and tailored research.
Research and Markets
Laura Wood, Senior Manager
For E.S.T Office Hours Call +1-917-300-0470
For U.S./CAN Toll Free Call +1-800-526-8630
For GMT Office Hours Call +353-1-416-8900
U.S. Fax: 646-607-1907
Fax (outside U.S.): +353-1-481-1716
SOURCE Research and Markets