The overall UAV Market is estimated to be USD 27.4 billion in 2021 and is projected to reach USD 58.4 billion by 2026, at a CAGR of 16.4% from 2021 to 2026. Asia Pacific is projected to account for the largest size of the UAV market from 2021 to 2026. Increasing deployment of UAV to carry out aerial remote sensing is increasing the demand. Aerial remote sensing is used to ensure the protection of critical infrastructures such as military bases, government buildings, airports, and banks, as well as to ensure homeland security. UAV offer prompt, efficient, low-cost, and reliable services to the police departments of different countries as they need to be ready to respond to any incident promptly and require quick and relevant information. The use of UAV is a cost-effective option as it not only saves man-hours but also ensures public safety and carries out investigations.
Based on application, the UAV market has been classified into the military, commercial, government & law enforcement, and consumer. For this segment for the UAV Market, the military segment of the UAV market is projected to grow from USD 12,760 million in 2021 to USD 19,641 million by 2026, at a CAGR of 9.0% from 2021 to 2026. The commercial segment of the market is projected to grow at the highest CAGR of 28.0% during the forecast period; the growth of this segment can be attributed to the developments and advancements in drone technology.
Based on function, the UAV market has been segmented into special purpose drones, passenger drones, inspection & monitoring drones, surveying & mapping drones, spraying & seeding drones, air cargo vehicles, and others. Special purpose drones mainly include decoy drones, swarm drones, combat UAV, etc., that are used in military applications. The special purpose drones segment of the UAV market is projected to grow from USD 9,332 million in 2021 to USD 20,548 million in 2026, at a CAGR of 17.1% from 2021 to 2026 and have the largest market share during the forecast period. It is due to rising usage of Special Purpose Drones in military , Combat Operations and Disaster relief operations.
By system, the UAV market has been segmented into platform, payload, data link, ground control station, and launch and recovery system. Each of them performs a different function and ensures UAV’s functioning in different applications. There are many different types of payloads that can be attached to UAVs such as cameras, infrared sensors, thermal sensors, weapons, and radars. The payload segment of the UAV market is projected to grow at the highest CAGR of 17.7 % from 2021 to 2026.