By application, multirotor UAV market has been segmented into military, homeland security, and commercial. In the past few years, huge investment is made in the military segment for multirotor UAV. Israel had invested in this market and is the largest exporter of multirotor UAV.
The multirotor UAV market is estimated to witness a CAGR of more than 24% during the forecast period from 2018 to 2023.
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Multirotor UAV market has been segmented by rotors into less than 10 and more than 10. By payload, the market has been segmented into cameras, electro-optical sensors, GPS, LIDAR, and laser designator. The camera segment is expected to be the largest segment of multirotor UAV market.
The key players in the global multirotor UAV market are Israel Aerospace Industries (Israel), AeroVironment, Inc. (U.S.), DJI Innovations (China), 3D Robotics, Inc. (U.S.), Microdrones GMBH (Germany), Coptercam (Australia), Cyberhawk Innovations Ltd. (U.K.), Aeryon Labs Inc. (Canada), and Draganfly Innovations, Inc. (Canada).
Among regions, Asia-Pacific is expected to be the largest market for multirotor UAV, due to the reason behind the growth of the market for multirotor UAV in Asia-Pacific especially in the defense sector is increasing border security threat. Political disputes and terrorist attacks are fueling the demand for multirotor UAV in this region. Huge investments in the research and development of UAVs is another reason for the growth of multirotor UAV market in Asia-Pacific. The economic downturn and budget cuts are affecting the market growth in North America and Europe.
Scope of the Report:
This study provides an overview of the multirotor UAV market, tracking three market segments across five geographic regions. The report studies key players, providing a five-year annual trend analysis that highlights market size, volume, and share for North America, Europe, Asia-Pacific (APAC), the Middle East and Africa, Latin America. The report also provides a forecast, focusing on the market opportunities for the next five years for each region. The scope of the study segments the global multirotor UAV market by its application, rotors, payload, and region.
The ability of such aerial vehicles to perform in extreme conditions is one of the key factors for their increased adoption in the commercial market. Moreover, due to the recent technological advancements, multirotor UAVs are widely used in the fields of mining, chemicals, to detect the nuclear and radioactive materials, and construction. Factors such as low operational costs, flexibility in operations, and low cost of ownership also influence the multirotor UAV market growth. In addition, extensive R&D investment is another key reason that leads to the market growth. The rising threats of terrorist attacks, political and regional disputes, and border conflicts are boosting the demand for multirotor UAVs, across the globe. However, the market is adversely affected by factors such as air traffic management rules and limited battery lives or endurance of UAVs. economic downturn and defense budget cuts in some countries in North America and Europe hinder the market growth.
Multirotor drones are Unmanned Aerial Vehicles (UAV) which is the advanced technology wireless drones. A multirotor UAV is a remotely controlled device for aerial support application having capabilities of similar flights to a regular helicopter. Multirotor UAV has many fixed rotors and is controlled by changing the relative speeds of different rotors. It uses multiple rotors to move in 3 dimensions, yawing on the spot, and hovering in place. Multirotor UAV is very easy to operate for various short-range applications. As a result, it is widely preferred by users over other forms of drones and has become very popular in commercial, government, defense, and personal applications.
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